Alert Message

Affordable mortgage rates at your fingertips

Home buyers are in for a treat as they can get mortgage rates as low as 2.5% for a 15 year fixed mortgage. Palm Harbor has stayed consistent with the rest of the nation as mortgage rates dip. The sun is out all year round and the temperature remains consistently pleasant. Crime rates for the city are 7% lower than the state's average and is decreasing. Buyers in the area have to take a look at this beautiful city that can offer all-round well being for all age groups.
Daytona Beach, Florida, USA beachfront resort skyline.

Palm Harbor homes are perfect for you

Homes, ranches, mansions – Palm Harbor has everything

Palm Harbor is the perfect city for families, retirees as well as single residents. It offers a well balanced list of activity centers, commercial hubs and industrial areas. The district also organizesvarious sports complexes like Palm Field and Steve Putnam Park. The area is filled with parks, golf courses and beaches – all of which make it a fun place to live. Along with small homes, family homes, town homes and luxury mansions, buyers can also take a look at gated communities that have been developed more recently. The cost of living in Palm Harbor is lower than both the state and national average, making it affordable to people from different backgrounds. Walks in the park, a swing at the golf course, a swim at the beach, a fabulous meal at a restaurant – all of these become effortlessly possible at Palm Harbor.
Daytona Beach, Florida, USA beachfront resort skyline.
Brother sister and dog playing on sandy Florida beach in the summer sun

Palm Harbor mortgages made easy

Best mortgage rates and easy application

Buyers from all around the nation go through a strenuous process when buying a home, especially when a mortgage is involved. Depending on where you choose to buy, prices, down payments and more – your mortgage rate could change. Some buyers would also require to finance their current homes in order to buy a new home. This can be a rather complicated process but with the help of Earnest, you can make reliable decisions. At Earnest, we take the buyers' needs and conditions very seriously. The home and neighborhood recommendations that we make are catered towards the buyer's priorities and financial situation. In addition to all this, we also provide the best mortgage rates along with quality re-financing options. To make your home buying process a lot smoother and faster, apply online today.
Brother sister and dog playing on sandy Florida beach in the summer sun

Common Questions About Palm Harbor 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.