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Make North Port your home with an Earnest Mortgage

Home values in North Port went north to the tune of 11.5 percent in 2015. Zillow has predicted that property prices will rise about 2.1 percent within 2017. The average list price for every square foot in North Port comes to $120. The median price of properties located within the city limits is calculated to be $192,990. Standard demand variation is seen in different properties located in different parts of the city. Some areas have greater price appreciation than others.
Jacksonville, Florida, USA downtown city skyline.

North Port is well known as a child friendly city

It has great beaches and is a lovely, safe place to raise a family

North Port, for five consecutive years, has been given the Playful City USA community award by the non-profit KaBOOM! The city has consistently upheld the belief that prioritizing time for recreation will lead to a safer and more socially connected city. The metropolis has also become a healthier place to live. There are a total of 26 parks and innumerable recreational facilities. The Van Wezel venue has pioneered the cultural development in the city. It represents the diverse taste of theNorth Port residents. Regular programs include Broadway musicals, top ranked international and national performers. Events are presented by Sarasota Ballet, Sarasota Concert Association and Sarasota Orchestra. The lecture series by Ringling Library Town Hall is also a notable event in the cultural calendar.
Jacksonville, Florida, USA downtown city skyline.
Sisters at the ocean

A mortgage to fit your exacting needs

The best home mortgages in North Port can be had only with Earnest

At Earnest, we understand that buying a home is one of the turning points in your life. We can help. Our process is simpler and faster. Since it is exclusively online, you can assured of help throughout. In case you have any doubts, our highly efficient but friendly client service team can be reached with just a phone call. When you partner with us, we'll do what we can to get you into your new home much quicker. Home mortgages are not to be trifled with. It's a long term commitment and cannot be paid off in a short span of time. A lot of things could change during this period, including your financial standing. If you're looking to refinance your mortgage, Earnest can help get you the best possible rates that could potentially give you big savings in the long run or reduce the repayment time frame
Sisters at the ocean

Common Questions About North Point 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.