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Earnest makes your property dreams come true

With the average home price being an affordable $184,900, Clearwater compares favorably with properties in the Tampa Metro area. The average list price per square foot is $147. According to Zillow, the average home is priced at $239,900. The city offers a range of homes from single family units to premium end triplexes. Studio apartments are also available. Rising property prices make it an ideal investment. Earnest makes the best mortgage partner to assist you to buy your dream home.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background

Beautiful city along Florida's stunning Gulf Coast

Crystal clear waters and soothing Gulf breezes

Clearwater is a cosmopolitan city. It has a pleasant climate. The local economy is thriving with the introduction of business friendly measures by the administration. This Florida city has gained traction in the financial industry for its information processing requirements. There are adequate numbers of museums and amusement parks. Big league professional sports like football (Buccaneers), hockey (Lightning) and baseball (Devil Rays) are played here. Intra-city transportation is excellent. Neighborhoods are tastefully developed, with beach-side areas particularly picturesque with interesting shops and palm tree bordered boulevards. Clearwater is situated at 15 feet elevation or a little less. The city is built on a flat, coastal plain. Laurel and pine forests are mixed with orchards a little further inland.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background

Mortgage tailor-made for your wishes to come true

Get the best home mortgages in Clearwater with Earnest

First-time home buyer Earnest will make your dream of owning a home come true. Our mortgage solutions comes with competitive rates especially suitable for first time home buyers. We provide complete guidance through the complete process. Earnest will help you to find the home you can afford, the costs top consider and application for the first mortgage. Count on us to move into your new home quicker and with ease. Refinancing a mortgage Earnest can help you to refinance your home. We will enable you to secure better interest rates or help you to understand the different parameters in refinancing process. You can decide whether it is a suitable home to refinance. We will determine your requirements and present the right loan so that you can meet your goals. We will help you to lock into your loan.

Common Questions About Clearwater Mortgage Rates

All The Answers You Need to Settle Down Sooner

Should I choose a fixed or adjustable rate?

It depends how long you expect to stay in the home. Adjustable rates are good for people who may not be in the home long, whereas fixed rates are ideal for people who are confident of settling in.

Do I need a home appraisal?

Probably—in most cases, the homebuyer must use an appraiser to evaluate the value of the home. Appraisal costs vary depending on the value of the property, as well as the state the house is in. Buyers cannot choose their own appraiser—the bank makes the decision.

What is PMI?

Private mortgage insurance (PMI) is required when a homebuyer makes a down payment of less than 20%, or when a borrower refinances with less than 20% equity in the home. PMI fees vary according to your down payment and credit score, and adds a premium to your monthly mortgage payment. Please note, PMI is tax-deductible in 2015 and 2016 for certain income brackets.

What does Loan-to-Value mean?

Loan-to-Value (LTV) is the percentage of your home’s value that your loan represents. When refinancing, the calculation is simply the loan amount divided by the appraised value. When buying a home, the LTV is found by dividing by either the purchase price or appraised amount, whichever is lower. When the LTV is less than 80%, the lender generally requires PMI.

For example:

Purchase price: $100,000
Down payment: $15,000
Loan amount: $85,000
Appraised value: $110,000
LTV: $85,000/$100,000 = 85%

What are closing costs?

Closing costs are standard fees associated with a real estate transaction. You will typically pay about 2-5% of the purchase price in closing costs—the exact amount depends on where you are buying (or refinancing), as well as number of extra fees involved in your particular transaction. Earnest charges no lender fees, so the borrower is only responsible for 3rd-party fees.

What should I consider before refinancing my mortgage?

Refinancing your home loan is an attractive option when rates are low. A simple rate and term refinance can help you lower your monthly payment and potentially eliminate your PMI premium, as long as you have built up enough equity in the home. You might also use a cash-out refinance to access some of the equity you’ve built up in the home (which may result in a higher monthly payment on your new loan).

However, keep in mind that refinancing a mortgage does involve several fees (closing costs). Before refinancing, you should calculate the ‘break-even’ point at which your refinanced loan makes up for the closing costs. If you plan to leave your home before this time, it’s better to stay with your current mortgage.

Knowledge Is (Buying) Power

Further Resources from the Earnest Blog

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The intelligent home loan

When it comes to finding the right home loan, Earnest works hard to ensure that the process pain-free. We use an industry-leading and intuitive online-only application (meaning most times no scanner or fax machine required), a 5-star client service team, and a unique rolling pre-approval that stays current while you track down that perfect home. At Earnest, the home loan process is like no other.