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Summerfield is a place of pristine rural beauty

Summerfield is located in Marion County in Florida. It is a component of Ocala Metropolitan Statistical Area. According to Zillow, average home values in the Summerfield area comes to $171,200. Property prices vary between different classes of property. The property at the lowest end of the price scale is the Single Unit Family Homes. These are basic and as the name implies, an excellent value for money considering the price. The highest end of property ladder are the duplexes and triplexes.
Tampa, Florida, USA downtown city skyline over the Hillsborough River.

Summerfield is perfect for a stress free life

Not much excitement but relaxed pace of life provides all the pleasure

Summerfield is situated near the County Road 475A and US 301 intersection. The unincorporated community is a component of Ocala Metropolitan Statistical Area. The settlement first came into existence in the latter part of the 19th century. The name of the place came from a local land owner and cattleman, Colonel Adam G. Summer. The place has a number of golf courses. The list includes fairly prominent ones like Spruce Creek Country Club, Stonecrest Country Club and the Eagle Ridge Golf Club. Residents of the area like to visit the clubs for their lunch. Weekends may see them taking the buffet option. The latter action is also much preferred when guests come over. The community is truly a caring one. The best part is that there is no overcrowding. Many clubs club sumptuous and delicious food with events.
Tampa, Florida, USA downtown city skyline over the Hillsborough River.
This is a beautiful photo capturing the Downtown Orlando Skyline at sunset.

Buying your Summerfield home is now easier

We assist you to pay for your dream property, and help you find it too

Purchasing a property is a significant investment. Any decision must be carefully considered before it should be finalized and a particular property be bought. Multiple factors must be considered and a number of locations must be seen prior to zeroing on to a single one. The financial position of the buyer should also be taken into consideration. Earnest can assist in this matter by a careful analysis of both the financial position and also personal priorities like distance of the office from the proposed property to be bought. Distance between the house and healthcare centres must be taken into account as well. Other important factors include availability of public transport and nightlife. We will provide you a shortlist of options best suited to your life and also to your budget. You will get your house keys much faster.
This is a beautiful photo capturing the Downtown Orlando Skyline at sunset.

Common Questions About Buying a Home in Summerfield

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.