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Invest in Fruitland and allow it to invest in you

There are a lot of beautiful homes available for purchase in Fruitland. It has big city amenities without all the cost—It's perfect! Trulia reports that there are homes between $30,000 and $2,000,000. Whatever home you buy, you'll need a mortgage to get there!

Fruitland mortgages are within your budget

All you need is your mortgage and then you'll be living the good life

Mortgage rates in Fruitland are affordable and at great rates. According to Bankrate, mortgage rates are sitting between 3.5 percent and 4.5 percent, with an average for a 30-year fixed mortgage right at 4.13 percent. There are many different factors involved in determining the best rate for you—and that's where Earnest can help you! There's a calculator at the bottom that you can use that to see what looks best for your budget, and then work with Earnest to help you get the best price in your budget! Trulia shows numerous houses that have three to five bedrooms and are all at extremely affordable prices. Many of these luxury homes would cost a fortune if there were in a major city, but instead you're just a short drive from that cost of living while still retaining paradise!

Get a sweet Fruitland mortgage today

Low rates and incredible prices make for the perfect place to live

There are many different reasons to live in Fruitland. Perhaps you're drawn by the many attractions, like boat access, public water areas, or maybe the low cost of luxury homes? Maybe you like how close it is to larger cities but without all the cost, while still being a beautiful town in its own right? No matter the reasons, you'll first need a mortgage to secure your special spot in Fruitland. Earnest would love to help you get one step closer to moving day! First time buyers need not worry as Earnest specializes in this and can answer any questions you may have and ease any worries or concerns. If you're considering refinancing, then let Earnest help you with that as well. Before you know it, you'll be putting that newly acquired money to good use on your next major project or life event!

Common Questions About Fruitland 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.