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Earnest can make your dream home in Stuart real

Stuart has witnessed an uptick of 13.2 percent from 2015. Zillow has predicted a 5.9 percent rise within end 2017. The average list price for each square foot in the city is $151. An average Stuart home comes to around $279,900. The city has comprehensive educational institutions, with all elementary schools, middle schools and high schools found here. Stuart also has a number of private and charter schools. Earnest is the ideal mortgage partner to help you buy your dream home.
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An easily navigable, compact and walkable city

Stuart is a city of history, culture and glorious beaches

Stuart is a picture postcard city located on Florida's Treasure Coast. West Palm Beach International is the nearest airport. If you come by train, alight at West Palm Beach. The best thing about the city is its compactness. This makes it easily walkable and easy to navigate. Beaches like The Stuart, Jensen and Bathtub beaches are extremely nice and are wonderful, relaxing destinations. Small sea life is plentiful here. You can surf the waves if you want to do so. For the art lover, downtown Jensen is the place to be. It is a smart and artsy small place. For those who want to blend fishing andromance, Shelton Park is the ideal place to be. Picnics can be best had the West and East Island Park. Jonhathon Dickinson Park has a stunning river and offers boating activities like kayaking.
Palm tree reflection in a corporate building.
4th of July fireworks at Miami Beach, Florida.

An ideal mortgage to satisfy your requirements

Earnest offers you the smartest and totally hassle free mortgages

Earnest can make the home buying process faster, simpler and much less intimidating. As a first-time buyer, you will be amazed at the ease with which you can complete the process. Our application process is completely online. Face a problem and racking your head for answers? Our client service team can be reached through a simple phone call. You will get the rate which is best for you. Home mortgages are not to be trifled with. It is not something which can be quickly repaid. It can be particularly brutal on the financial front. Earnest will help you to enjoy much lower payment plans of your chosen mortgage. If you want to close the account earlier, we can help with that as well. Earnest will help to use a few of the accrued equity of your home so that you can use funds to make large or important purchases.
4th of July fireworks at Miami Beach, Florida.

Common Questions About Stuart 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.