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Buying a house in Naples is an easy choice

When buying a home, why not go with 2016’s Happiest, Healthiest City? Perched on the white sand beaches of the Gulf of Mexico, Naples offers a host of attractions and neighborhood perks—everything from world-class shopping, restaurants, breath-taking golf courses, and the thrilling wilderness of the Everglades. Whether you’re just starting your career, raising a family, or looking for the perfect place to retire, you’ll find your dream home in Naples. And Earnest is here to make it happen.
A beach bag, floppy hat, towel and Sandals at the beach.

Florida’s crown jewel is waiting

And the sunsets are free

If you've dreamt of living by one of the top 10 beaches in the world, you’ll love living in Naples. Add in beautiful weather, stunning architecture, a low crime rate, and the opportunity to catch a glimpse of the legendary “green flash,” and Naples sounds a lot like paradise. Whether the type of home you're after is a condo in Bayfront or a gated community in Compass Landing, the city delivers on that promise. Enjoy new construction in a suburban setting? Look no further than Compass Landing. Searching for a luxurious estate? Look no further than the opulent swath of land stretching from Bay Colony to Aqualane Shores. Regardless of where you settle, you’ll find great schools and happy people who wouldn’t dream of living anywhere else. It’s hard to beat living in a town that’s everybody else’s dream vacation destination.
A beach bag, floppy hat, towel and Sandals at the beach.
Hotels and residential buildings on the beach in Miami Florida

Earnest makes buying your Naples home a breeze

The no-fuss application process is the perfect complement to life in Naples

It's tough to make a poor choice when it comes to buying a home in a place like Naples, Florida. But that doesn’t make the home-buying process easy. In fact, having so many great options just makes it harder to choose. From determining your budget and securing a loan to finding just the right types of homes, the whole process can be stressful. Our goal here at Earnest is to take that stress away. Because we use more data points than most mortgage lenders, we’re able to help you determine your ideal price range and then customize a loan that’s just right for you. Managing your account online is a breeze, but our in-house team is ready and waiting to back you up the moment you need us. And that’s a personal commitment from us to you: We don’t farm our customer service out to third-party vendors. You’re too important, and we know that.
Hotels and residential buildings on the beach in Miami Florida

Common Questions About Buying a Home in Naples

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.