Alert Message

Earnest can get you the right home in Spring Hill

According to Zillow, the median home value in Spring Hill, Florida is $129,600. The median list price per square foot is $83. (The Tampa Metro average is $122). At present, $149,000 is the recorded median price of Spring Hill homes. It was the Florida boom that actually pushed up the median home prices in Spring Hill. The economy of Spring Hill is already stable and thriving. Owning the right home in Spring Hill can be a solid investment. Let Earnest find you that right home!
Tampa, Florida, USA downtown skyline.

A place with a relaxed and laid-back atmosphere

Spring Hill is a haven for senior citizens

The healthcare facilities that Spring Hill offers is impressive. It has a number of rehabilitation facilities and nursing homes. If you are a senior citizen, then you can seriously consider buying a home in Spring Hill. Spring Hill is ideal for middle-class families who prefer a speck of luxury in their lives as well. The cost of living is very reasonable. The job growth has been very positive for the past few years. There are a number of perks that Spring Hill offers. It has broad sandy beaches and palm trees. The Hernando Express provides mass transit. It is located near Weeki Wachee Springs where the Buccaneer Bay is located. Spring Hill Campus and 4 other prominent campuses offer higher learning. The palm-tree lined boulevards are a sight to see. Spring Hill has a number of interesting restaurants as well.
Tampa, Florida, USA downtown skyline.
Pair of Macaw Parrots cuddling on a tree branch in a tropical setting featuring vivid gold, blue, red and green feathers and white faces.

A mortgage that is fair and right for you

Worried about your credit score? Earnest has the solution!

Anxious about your first home purchase? At Earnest, we have been dealing with first-time home buyers for a long time. We understand how you feel. End of the day, it is your hard-earned money and it is a lot of money. We will help to streamline the entire home-buying process for you. If you are worried that you will not get a mortgage because of your bad credit score, our client support team can find a solution for you. Refinancing your mortgage We are living in a world where the economic conditions can change for good or bad overnight. If you are finding it hard to make the installments, we can help you to get a lower mortgage payment. If you want to close your mortgage before the end of tenure, Earnest can help you with that as well. We have an excellent client support team. You may contact them for any information or for any issues.
Pair of Macaw Parrots cuddling on a tree branch in a tropical setting featuring vivid gold, blue, red and green feathers and white faces.

Common Questions About Spring Hill 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.