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Earnest can make your Valrico dream home a reality

Home values in Valrico have risen by 8.0 percent from 2015. According to Zillow, the values will continue to rise by 3.8 percent within 2017. The average list price for every square foot comes to $115. Average price for homes being sold comes to $248,994. A number of Valrico homes are located on wooded lots which have an undeniable old world charm. There are adequate spaces for pools and gardens. Prospective buyers can choose between new construction or existing properties or both.
Tallahassee, Florida, USA downtown skyline.

A beautiful small city close to everything

Perfect for those who loves a quiet life interrupted by high city fun

A number of home buyers in Florida are buying up properties in Valrico. The city is just a short commute away from the commerce and culture of Tampa city. The residential oasis is the best place to enjoy a quiet lifestyle without compromising access to the region's best amenities and attractions. The Valrico area is ideal for one who prefers the premium quality life at an affordable price. Valrico city can be described as a charming community of pristine lakes and postcard perfect rivers. A better quality of life is assured with modern conveniences like businesses, grocery stores and shops all a stroll away. Families with children will find the excellent school system a boon. Outdoor activities like paddling, golfing and picnics are perfect to while away a recreational weekend. The Busch Garden park is famous all over the world.
Tallahassee, Florida, USA downtown skyline.

A mortgage crafted to satisfy your exacting needs

Get the best home mortgages in Valrico with Earnest

With Earnest, the process of buying your first home becomes much simpler and faster. You will be delighted to find that the process is much easier than you have thought. The perfect complement ofexclusive online process and an ever available client service team makes every home buying activity a walk in a garden. You will get the funding you require; count on us. Any home mortgage must be taken only after exercising due caution. It cannot be paid off in a jiffy and circumstances may change. The latter can play a major part of your life. Earnest can help you by providing a refinancing plan or get a much lower payment on the mortgage. When you refinance, you help to use a few of the built up equity in your home so that funds are available to satisfy the monetary requirements of big purchases and important expenses.

Common Questions About Valrico 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.