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Deland turns long cherished dreams into reality

Home values in Deland appreciated north of 10.1 percent in 2015. According to Zillow, it is on pace to rise by 4.9% by Q4 2017. The average list price per square foot in the city comes to $107. Average prices of a home situated within inner city limits comes to $199,650. This is lower than surrounding areas. As with all other cities, different localities in Deland fetch different prices. Downtown residential property is the most expensive. Lower priced residential units are found in the suburbs.
Historic downtown business storefronts on a city block in Jacksonville, Florida.

A lively city of art and historical sites

Deland is the place to engage in intellectual pursuits and enjoy coffee

Downtown Deland is a lively place throbbing with contemporary culture adequately fueled by artisanal coffee. Antique shops, restaurants and galleries speckle the city, transforming the metropolis into a cultural hub. The Boston Coffeehouse was set up by a graduate from Boston University. It is extremely popular among both locals and visitors alike. Weekends see a number of art shows and food festivals. Nature lovers will find a veritable paradise in Hontoon Island State Park. It is located on St. Johns River. The park can be accessed solely by private boat or park operated ferry. Visitors will enjoy the opportunity to observe native wildlife like manatees and great blue herons. They will also get acquainted with the original inhabitants of the area. It is open all days of the year. There are also 12 tent sites for those who like camping.
Historic downtown business storefronts on a city block in Jacksonville, Florida.
Young family is having a great time playing on a beach with their toddler son.

A mortgage made exclusively for you

Get the best home mortgage rates in Deland with Earnest

Buying a home for the first time can be remarkably easy with Earnest on your side. We make the process much simpler, faster and much less intimidating. The application process is completely online and is extremely simple. In case you have doubts, or face problems, our client service team is simply a phone call away.Needless to say, you will get the funding at a rate which will bring a smile to your face. It is important to understand that repaying a mortgage takes time. Years may pass until you pay off the mortgage. A lot can change over those years- especially finances. Earnest will help you to get much lower payments related to the mortgage. We can also help you to close your mortgage much earlier than the scheduled time. We also help with refinancing plans.
Young family is having a great time playing on a beach with their toddler son.

Common Questions About Deland 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

People around a computer

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.