Alert Message

Climb Port St Lucie property ladder with Earnest

Port Saint Lucie has a median home value of $188,900. According to Zillow, home values increased by 15 percent during 2015. It is predicted that the values will go up by 6.5 percent within 2017. The average price per square foot comes to $132 in the city metro area. Homes have an average price of $245,000. Average rent in the Port Saint Lucie is in the region of $1,450. The real estate scene is booming with new constructions. Earnest can help you to choose a new real estate opportunity.
Tampa, Florida, USA downtown skyline.

A new and vibrant yet historic city

It is the activity center of Florida state with a thriving cultural scene

Port Saint Lucie is speckled with sparkling lakes, natural preserves and parks. The metropolis has a number of housing styles. The neighborhoods are meticulously kept.The city hosts a number of annual events, including Holiday Lights show and Talent show. The art gallery at Civic Center is an impressive 2,000 square feet. Regional artists exhibit their work at this place. The expansive layout of Port Saint Lucie means that you require a vehicle to get around the city. There are designated biking lanes for safer transportation. Recreational cycling is done in the residential areas. When it comes to restaurants and nightlife, there are no dearth of options in Port Saint Lucie. These include both mass market branded restaurants and independent restaurants as well. Local restaurants have made a name for themselves in casual eating.
Tampa, Florida, USA downtown skyline.
Orlando, Florida cityscape and skyscrapers with reflections of Lake Eola at night with palm trees, fountain and swans.

Tailor-made mortgage suited to your exacting needs

Enjoy the best home mortgages in Port Saint Lucie only with Earnest

First-time home buyer With Earnest, the process of buying a home becomes simpler and faster. It also becomes less scary. Making applications become much easier with its online only format. Any problem encountered is solved by the friendly and efficient client services team. Assistance is simply a phone call away.Indeed, with Earnest, the process has never been easier. Refinancing a mortgage Home refinancing is not an impulse decision.Earnest has put together a system which assists you to locate the best price range for your specific financial position besides providing a guide to the neighborhoods that satisfy your specific needs. You will enjoy lower interest rates and even shorten the mortgage terms. You can take advantage of your home's equity to finance big purchases.
Orlando, Florida cityscape and skyscrapers with reflections of Lake Eola at night with palm trees, fountain and swans.

Common Questions About Port Saint Lucie 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

People around a computer

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.