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Buying a home in Dade City can be rewarding

Dade City is located in Pasco County, Florida. It is part of the metro area Tampa-St. Petersburg-Clearwater. Dade City's downtown is famous for its antique stores, which are popular with the tourists. The economy of the city is growing, thanks to the metro area's business-friendly climate. Job growth has been positive in the recent years. The cost of living is lower than the national average. The city has 15 schools. There is easy access to healthcare facilities in and around the city.
Tampa, Florida, USA downtown skyline.

Dade City is America's 'Tree City'

The motto of the city is 'Proud Heritage, Promising Future'

Cattle production and agriculture, primarily citrus, is what powered Dade City's local economy in the beginning. Then the focus slowly shifted to the service sector and the retail industry. Most of the residents are employed in these two areas, as well as in the government sector. Dade City's downtown has a number of good restaurants. Edwinola, Hugh Embry Library and the Pasco County Courthouse are famous for their history and their historic architecture. Dade City is home to Pasco-Hernando State College and St. Leo University, two of the prominent educational institutions in the state. The Pioneer Florida Museum is located in the Greater Dade City area. The Country Christmas Stroll, Church Street Christmas and the Kumquat Festival are some of the popular community-sponsored events.
Tampa, Florida, USA downtown skyline.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Dade City is a good place for families to live

Earnest can find you a good home in Dade City and help you buy it

Dade City offers single-family homes, condos, townhomes, lofts and apartments. Earnest can help find any of these at a reasonable price. Buying a home is often a stressful process, however, with Earnest, it need not be. We have an online application process that is simple and fast. Tell us what kind of a home you are looking for and the type of neighborhood you want to live in and we will do the rest. We have a friendly and efficient client support team that you can get in touch with for any queries/issues. Earnest can get a mortgage for you as well to help you buy the home in Dade City. Our rates are fair and by fair, we mean, the lowest possible. Even if your credit score is not ideal, we can approve one based on your current financial situation and your future earning potential.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Common Questions About Buying a Home in Dade City

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.