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Earnest helps make your Rockledge dream a reality

With a ranking of 203 in the livability index by Areavibes, residents enjoy a lower cost of living. Amenities are plentiful. Home values in the city went up by 11.5 percent in 2015. It is predicted that it will rise by 5.5 percent within 2017. The average list price for every square foot in the city is calculated to be $133. Average price of homes presently listed for sale in Rockledge comes to $239,900. Earnest makes the best mortgage partner for your dream home.
Colorful ocean beach sunrise with deep blue sky and sun rays.

A city conveniently situated for state travel

Rockledge is the city best for smoother access to other parts of Florida

The first official documentation of Rockledge's existence starts from August 7, 1887. This makes the city Brevard County's oldest incorporated municipality. Trading in citrus fruits and tourist accommodation was the mainstay of the town's inhabitants during the 19th century. By all accounts, Rockledge was excellently situated even at that time. Visitors were mostly transits of Atlantic Intra-coastal Waterway. The Indian River flows past the city. Rockledge became known as a resort town in the 20th century. Population dramatically increased during winter. Modern mode of travel became a part of the city's daily life post the 1915 completion of Dixie Highway. The US 1 substituted the Dixie Highway in 1920s. Rockledge city has multiple points of interest. These include Persimmon Mound,and the Marion S. Whaley Citrus Packing House.
Colorful ocean beach sunrise with deep blue sky and sun rays.
Family day at the beach on Amelia Island, Florida.

A mortgage made to perfection

Enjoy the best and comfortable home mortgages in Rockledge with Earnest

If you are a first time home buyer, then you have come to the right place. When you partner with Earnest, the process becomes much simpler and faster and documents look much less intimidating. This is made possible by our online only application process. In case of the unlikely event of you having a doubt, simply dial our client service team. They know the ins and outs of the business and will listen to you with patience. You will get the amount you want and a rate which you will appreciate. You can depend on us to get your new home quicker. We understand home mortgage and more importantly, understand you. This type of financial commitment takes a lot of time to repay. Mortgage repayment could take years. Much can change within that span of time, including your financial standing. Earnest can help you with a perfect refinancing plan.
Family day at the beach on Amelia Island, Florida.

Common Questions About Rockledge 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.