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Fun in the sun all year round in Palm Coast

Palm Coast is warm and sunny throughout the year. The city is home to many top golf courses, some of which are private while others are open to the public. Singletons, families and retirees can all have a good time in the city as there are plenty of amenities apart from the beaches and nature trails. A wide variety of homes are available in the city and the residents in most areas are friendly. Over 79.4% of residents are home owners in the area.
View of Miami at sunset, special photographic processing, USA

Palm Coast can accommodate all kinds of residents

Surround yourself with beaches, golf and nature

Palm Coast provides a well balanced life for all of it's residents. From serene beaches to pristine golf courses and top class auditoriums, Palm Coast and the Flagler County region has a lot to offer. For those looking for nightlife, Daytona is a short drive away. The city is considered to be one of the fastest growing ones in the US since 1990, the United States Bureau of Census has stated. The Flagler Auditorium is perfect for those interested in the arts as they host numerous large scale shows. It is 1000 seat auditorium that has previously hosted Broadway shows and symphony performances. Other smaller shows are hosted at the Flagler Playhouse while the Flagler County Art League hosts art exhibits, festivals, classes and events. Overall, the city is brimming with activity but still remains to be one of the most peaceful places around.
View of Miami at sunset, special photographic processing, USA
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Effective mortgage rates for every buyer

Apply easily and get the best information at Earnest

Home buyers don't always have good experiences when buying. Among all the important, life-changing decisions that one has to make, finance plays the biggest role. Mortgage rates are at an all time low this year and home buyers can take full advantage with the help of Earnest. In Palm Coast, the current mortgage rates are around 3.2% and Earnest can ensure that buyers get the best possible rate. We consider different aspects of your finances like savings, credit score and earnings before predicting rates. Mortgage rates vary from area to area and depend on a large number of factors, our experienced client servicing team can help you understand every aspect and make informed decisions. There are situations when a re-finance is necessary before purchasing a house, Earnest can help create an observant financial plan that covers all the bases.
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Common Questions About Palm Coast 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.