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Earnest make your Auburndale dreams a reality

Auburndale is one of the best places to live in Florida. According to Areavibes, the positive aspects of this city includes lower living costs and adequate local amenities. Home values in the city went up by 13.2 percent in 2015. It is estimated that values of homes in the metropolis will rise by 7.5 percent within 2017. The average list price for every square foot in Auburndale is calculated to be $101. Average prices of homes currently listed for properties in the city comes to $172,500.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background

A city perfect to make a home and stay in peace

At Auburndale, teamwork is evident in all aspects of civic life

Auburndale is situated in Polk County within Florida state. The city came into existence in the latter part of the 19th century when Frank Fuller started construction of a few houses so that he could get respite from the hard winters of further up north. At that time, the place was called Sanatoria. The name Auburndale was given only after the town was linked to the rest of the United States by railway lines. The new name was suggested by settlers who came from the then settlement of Auburndale in Massachusetts. The city, from its inception, was patronized by many prominent artists of that era- and continues to be so. The Polk County School Board administers public schools in Auburndale city. Five elementary schools are present. Students from the elementary schools enrol at the single middle school. There is only one high school.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background
This is a beautiful photo capturing the Downtown Orlando Skyline at sunset.

A mortgage exactly right to meet all your needs

The best home mortgages in Auburndale are with Earnest

If you are buying a home for the first time, be warned that it can be a tedious affair. With Earnest, it is not so. The process becomes simpler and faster. It also becomes much less intimidating. Our online only application is easy to do and in the case of any doubts, help is just a phone call away. The client service team is knowledgeable, friendly and approachable. It is superfluous to say that you will receive funding at a rate most comfortable for you. Home mortgages take time to pay off. It takes years. At Earnest we understand that life can throw a curve ball at any time. We can help you to get lower payments on the mortgage or can help you to get a refinancing plan. The refinancing plan will free up some of the locked money in your home equity so that you can spend it on unexpected expenses.
This is a beautiful photo capturing the Downtown Orlando Skyline at sunset.

Common Questions About Auburndale 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.