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Moving to New Port Richey? Contact Earnest today

The median price for a house in New Port Richey is only $88,500. It is not just affordable, it is perfect if you do not want crowds, noise, or traffic. There are literally no buses in this city and 100% of the population travels by car. Even you do not like to drive, you can get to most places within a short walk. There are no large universities nearby, so you will not have any disruptions. The climate is also warm and temperate, it is, after all seated on the shore of the sunshine state!
Jacksonville, Florida, USA downtown city skyline.

A quiet little city that has everything you need

New Port Richey has the beach, the river and the life

The city of New Port Richey is an ideal place to live if you are swayed by small town life, but are used to large city convenience. It is compact, but filled with neighborhoods, all of which are safe and planned well. The houses here are cozy and comfortable, just what you would expect from a town this size. It has a number of public spaces and amenities that can be quite convenient and just a short walk away. The Sims park is the largest and of interest. The city has managed to keep its vibes simple and secure. It gets a respectable 66 on the livability score. The main draws for this city is the low cost of living, amenities, and the almost constant sunny weather. In fact, the cost of living is a whopping 16% lower than the state of Florida's average.
Jacksonville, Florida, USA downtown city skyline.

Finding the right fit with your mortgage

Buy a home in New Port Richey the smart way

First-time home buyer The process at Earnest is designed to cater to the first time home buyer. The application process is only online, making it quick and easy to understand as well as making the verification and other steps flowing through in no time. If you still have doubts or queries, our ace client team is always ready to assist you. Earnest is probably the quickest way to get a mortgage and move into your own home. Refinancing a mortgage Mortgages are not designed to be paid of quickly. Some of them often last well over 25 years! In all that time a lot can change in both the housing market as well as your income, so it makes sense to want to refinance your existing mortgage. A refinanced mortgage, if done right can lead to massive savings. So contact us today, you might be sitting on a pile of money without realizing it!

Common Questions About New Port Richey 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.