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Buy your dream home in Eustis with Earnest

Eustis is home to 9,100 homes. Out of the total number of housing units, about 4, 691 are owner-occupied homes whereas 2,703 are rented out properties. The average home price in Eustis is $117,000. The average home ownership expense for residents with a mortgage is $1,159. The standard per month rent for Eustis residents is $832. Approximately 42.4 percent of the renters and 64.9 percent of the owners shell out less than 30 percent of their total income for contributing to housing expenses.
Historic downtown business storefronts on a city block in Jacksonville, Florida.

Choose from a range of modern homes in Eustis

Eustis is home to some of the most beautiful neighborhoods

Check out the most popular neighborhoods in Eustis: The average real estate pricing in City Center is $107,725.The real estate mainly comprises of small and medium sized homes (ideal for single families) as well as apartment complexes. The average price of a home in the Mount Homer neighborhood of Eustis is $169,678. Also, the current median rental price of a home is $985. Mount Homer, an urban neighborhood has a huge portfolio of single-family homes and high-rise apartments. Pine Lakes is primarily a rural neighborhood in Eustis with an average home price of $131,423. Also, the standard monthly rental of a housing unit in Pine Lakes is $777. There are plenty of vacant apartments that can be rented or bought in the Pine Lakes neighborhood of Eustis.
Historic downtown business storefronts on a city block in Jacksonville, Florida.
Beautiful senior couple takes a romantic stroll on a tropical beach.

Luxury homes amid beautiful natural vistas

A quiet little town with a lot to offer and plenty to enjoy

Besides the above mentioned Eustis neighborhoods some other popular options include Seneca, County Rd., S Bay St. etc. Most of the housing units in Eustis are fairly new constructions and were made after 1990. Eustis is an excellent area for families to buy a home since about 54.4 percent of the houses have three or more bedrooms. Nearly 7.1 percent of the homes in Eustis are luxury housing units and may cost over $500,000. Meanwhile, about 84 percent of the homes are priced below $200,000. This means that there are enough affordable home options in Eustis for prospective buyers to choose from. The home appreciation rates in Eustis have been consistently rising. The total appreciation since 1990 has been 130. 36%. This indicates that Eustis is a lucrative area for property investment).
Beautiful senior couple takes a romantic stroll on a tropical beach.

Common Questions About Eutis 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.