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Earnest knows Zephyrhills's current housing market

The housing market of Zephyrhills is booming. The best part is that most of the houses are affordable. However, it would not stay like that for long. The time to invest in a home in Zephyrhills is right now. $98,800 is the current median home value in the city, according to Zillow. The 'per-square-foot' median list price is $87 ($122 is Tampa Metro average). 2015 saw the home values in Zephyrhills going up, and Zillow predicts that, within the next year, the value will rise 5.3%.
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A place where you can breathe easy, and clean

Zephyrhills is the best place to find your dream job and your dream home

There are four schools in Zephyrhills. 31% of the population are single residents. The median age is 47. The median household income is $42,935. Most people in Zephyrhills commute by car. The city's routes #30, #33, and #54 are served by the Pasco County Public Transportation. The Zephyrhills Municipal Airport is located southeast of the city's central business district. Zephyrhills has one public library. The Zephyrhills Fire Department consists of both volunteer and career firefighters. Zephyrhills has seen a steady job growth in the recent years. 3.13% is the annual job growth rate. The cost of living is well below the national average. The housing market is currently appreciating at 12.4%. Zephyrhills residents are not only enjoying its clean habitat but the economic boom as well. Zephyrhills has warm winters and hot summers.
Miami waterfront skyline looking east along the Miami river
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The best mortgage deals, as quickly as possible

Worried about your credit score? Earnest can still help you get a good deal

82% of the people in Zephyrhills own their own home in the city. Earnest can help you become a proud home owner in Zephyrhills. We can find you a home based on your preferences, such as a home close to the supermarkets, schools, restaurants, and so on or one away from the hustles and bustles of the city. We can find you a home that fits your budget. The homes in Zephyrhills are still affordable. The time to invest is now. Earnest can help you get a mortgage, as well as refinance your mortgage. We can get you the best interest rates possible in today's market. Even if your credit score is bad, we can work with you to find the best deal. It is not just your credit history that we look, we look at your current income, financial position, future income earning capability, and son on. Contact out customer-oriented support team today itself.
Cocktails on the bar counter in night club.

Common Questions About Zephyrhills 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.