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Seminole can be the perfect city to settle down in

Seminole is almost perfectly positioned in Florida. If you are the type of person that likes warm beaches, or if you like lakeside parks and quiet walkways, Seminole has you covered. The city scores a 77 on the livability scale making it extremely liveable according to Areavibes. The city is mostly neighborhood after neighborhood of residential lots and schools peppered in between them. The job scene in this city is also strong. The city is also only a short drive away from Tampa.
Tampa, Florida, USA downtown skyline on the Hillsborough River.

A quite town with beaches and great culture

Now is the time to move to Seminole

Seminole is a city that is surrounded by large, industrial centers. It is nestled away in a corner and so is often overlooked. It is a place that is cheaper, cleaner and easier to settle into than its neighbors. The city has seen a good population rise over the last few decades as shown in the US census. According to citydata the population change since 2000 is at +64.6%. Median household income is at $49,000. The city is also well ranked in terms of amenities and cost of living; both receive a perfect A+ score. The weather is also great with both summer and winter temperatures that are never too extreme. The air in Seminole is 13% better than the national average and pollution is at 81% better than the national average. The town is ideal in every way; for building a career and building a family.
Tampa, Florida, USA downtown skyline on the Hillsborough River.
Sisters at the ocean

Make sure your mortgage fits you right

A fair-rate mortgage can help you move into your new home without delay

Before you make the decision to settle on a house that is suitable, stop to think if you are doing the right thing when it comes to mortgages. Are you getting a fair rate? How is your repayment schedule looking? All of those factors and more should be considered before you sign that dotted line. Earnest can assure you the best rates in Seminole. We specialize in creating financial profiles for first time buyers, so apply online today. If you are stuck paying a mortgage, you will know what a burden it can turn out to be. There are ways, however, to lighten this load. Refinancing is the fastest way to do this. If your property has suddenly spiked in equity, you can get a new mortgage that reflects your new financial situation, this can either reduce your total number of payments or even reduce the actual amount you pay.
Sisters at the ocean

Common Questions About Seminole 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.