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Earnest can help you buy a home in Pembroke Pines

Pembroke Pines city has received numerous national and state awards for its extraordinary sense of community. Pembroke Pines is an excellent area to consider if you’re looking to buy or rent a home for you and your family in Florida. The 30-year fixed mortgage rate in Pembroke Pines is 3.57% while the 15-year fixed mortgage rate is 2.87%. The monthly rental for housing units in Pembroke Pines could range from as low as $950 to as high as $2500, depending on the property and the neighborhood.
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Explore the beautiful Pembroke Pines neighborhoods

Choose from single-family homes to townhomes!

Some of the common neighborhoods for renting/buying homes in Pembroke Pines include Miramar, Aventura, Coconut Grove, Coral Springs, Coral Gables, Cooper City, Davie, Hollywood, Fort Lauderdale and others. Pembroke Pines is also home to a number of luxurious neighborhoods. Some of them include Mustang Trl, Northwest 166th Avenue, Bel Aire Dr, Sheredian St and SW 3rd St. among others. The total number of consistent neighborhoods in Pembroke Pines is 25, making it a comparatively larger city in the state of Florida. The types of homes available for sale/rent in Pembroke Pines vary from single-family homes to condos to townhomes. So whether you’re planning to shift in with a small or big family, there is a home in Pembroke Pines that will meet your needs.
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Expand your horizons; buy a home in Pembroke Pines

An excellent city for business development

Pembroke Pines has more than 10 million sq. ft. of land designated for commercial development. This includes the Pembroke Gardens’ shops, Pembroke Lakes Regional Mall and the Bergeron Industrial Park. Pembroke Pines is a white-collar city. 87.84 percent of the total workforce is employed in various kinds of white-collar jobs. Pembroke Pines is a city full of office and sales workers, managers and professionals. The city is famous for its business-friendly environment, dining, premier shopping as well as excellent educational opportunities. It got ranked at #32 in Money Magazine’s “Best Places to Live 2014” annual listing., the reputed financial website ranked Pembroke Pines at #44 in the list of the Best Places for Families and at #13 in the list the Best Places to Retire.
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Common Questions About Pembroke Pines 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.