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A home in Saint Augustine that suits your budget

According to Zillow, the median home value in Saint Augustine, Florida is $216,900. The median list price per square foot is $131. At present, $284,113 is the listed median price of homes in Saint Augustine. Home prices have been steadily going up ever since the Florida boom, and it will only go up. Right now is the ideal time to buy a home in Saint Augustine. It will definitely be a solid investment. Earnest can help to get you a mortgage and find that home for you in Saint Augustine.
Orlando Florida, Lake Eola. ( Photograph with the Phantom 3 Professional at 400 feet altitud. )

A city that enjoys a high number of sunny days

The charming ancient city with picturesque beaches and beautiful gardens

Saint Augustine is the headquarters for the Florida National Guard. It boasts a military history that is fascinating. The European-style historical district is a popular tourist spot. The city has a number of ornate Spanish architecture. The cafes with outdoor seating and the abundant curio shops add to the charm of the city. The small gardens located in the downtown area are perfect places to escape the Florida heat. Home to the Fountain of Youth Archaeological Park, Saint Augustine has miles of unspoiled beaches, tidal pools, and biking paths. The oldest Catholic high school in Florida, St. Joseph Academy, is located in Saint Augustine. The job growth in the city has remained positive over the years. The cost of living is higher than the US average, however, the city offers its own perks as well, such as a hassle-free everyday life.
Orlando Florida, Lake Eola. ( Photograph with the Phantom 3 Professional at 400 feet altitud. )
Fort Lauderdale, Florida, USA

A streamlined home buying process that suits all

Earnest can get you a fair mortgage rate even if your credit score is bad

Buying a home does not have to be a hassle A lot of people put off buying a home because of all the hassles involved in the process. With Earnest, owning your dream home does not have to be a hassle. We have a streamlined process that is ideal for first-time home buyers. We will find the right home for you that suits your budget and we will help you to get a mortgage as well. Our mortgage application process involves more than just checking your credit score, which means, even if your credit score is bad, we can find other ways to get you a mortgage and that too at a fair rate. Earnest can help you to refinance Earnest can help you get a lower mortgage payment or if you want to close a mortgage before the end of the term without attracting any penalties, we can help you with that as well. Refinancing is easy with Earnest.
Fort Lauderdale, Florida, USA

Common Questions About Saint Augustine 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.