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Earnest help to make Dunnellon dreams a reality

With a Florida ranking of 312, Dunnellon is considered to be one of the highly livable hotspots in the state. There are no shortage of local amenities and cost of living is also less. According to Areavibes, the crime rate is less, thus making it much safer for families. Home values in the city went up 9.1 percent in 2015. It is estimated that property prices will by rise 5.1 percent within 2017. The average list price for every square foot is calculated to be $88.
Tallahassee, Florida, USA downtown skyline.

A little city that has culture and entertainment

Dunnellon scores high for its lovely tree lined streets and stunning rivers

Dunnellon came into existence in 1887, The phosphate boom in the latter part of the 19th century contributed immensely to the city's expansion. The boom period of this time lasted until the 1910s. Mining started in the vicinity of Rainbow River. The natural flow of the river was harnessed to transport the phosphates. A part of the present metropolitan network includes this original mining site. Dunnellon is a known film shooting site. Jeepers Creepers, a horror film released in 2001 was shot here. The film incorporated locations like High School Road or Tiger Trail as it is popularly known. The road leads to Dunnellon High School. The Rainbow Springs State Park located near the city has a magnificent headspring basin generating about 600,000,000 US gallons of fresh water every day. This results in the formation of the Rainbow River.
Tallahassee, Florida, USA downtown skyline.
Orlando, Florida cityscape and skyscrapers with reflections of Lake Eola at night with palm trees, fountain and swans.

A mortgage which fits exactly as it should

Get the best home mortgages in Dunnellon with Earnest

For a first time home buyer, the process can be extremely intimidating. The paperwork itself makes any normal person sweat. All these will be a thing of the past when you partner with Earnest. Our process is simpler and faster. It is also not the least bit intimidating. This is achieved through an online exclusive application process. In the unlikely event of any doubts, our client service team is simply a call away. They will patiently answer all your queries. With Earnest, the rate of funding will bring a smile to your face. At Earnest we understand that paying off a home mortgage takes time, with a number of years passing by before you can claim the property is finally yours. The passage of time changes a number of things, specially when it comes to finance. We can assist you to form a refinancing plan.
Orlando, Florida cityscape and skyscrapers with reflections of Lake Eola at night with palm trees, fountain and swans.

Common Questions About Dunnellon 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

People around a computer

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.