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Buying a house in Fort Myers? Get great deals

Fort Myers is one of the most relaxed places to live in Florida. Thanks to its pristine beaches and golf courses, the area is known for having a sense of calmness to it. Fort Myers has some amazing homes to offer for residents with smaller city homes starting at $100,000 to larger waterfront mansions running into the millions. Earnest has a quick and easy process in place to get a mortgage and buy your dream home.
Panama City Beach, Florida, view of Front Beach Road at night during blue hour

Fort Myers -perfect for everyone

Fish, golf, and relax throughout the year

Located on the southwestern banks of the Caloosahatchee River, the City of Palms is perfect for families and singletons. It offers an amazing balance of activities from fun, family-friendly ones to more cultured outings. Downtown is the place to be as the streets are filled with shops and restaurants. Beaches, islands, water sports, parades and festivals make this the city to be in. Museums, art-galleries and historical sites are also present all over the city, giving every resident the ability to explore their interests. Fort Myers Beach and Cape Coral are popular among visitors and residents alike and a renovated retail space is in the works to provide for more clubs, shops and entertainment centers, right on the waterfront. Unemployment is relatively low compared to the national average so residents can work hard and play hard.
Panama City Beach, Florida, view of Front Beach Road at night during blue hour
family of two enjoying beach at florida

Fort Myers home buying made easy

Quick processes and low rates provide immediate results

Fort Myers has a population of over 63,000 residents and finding the perfect home in the right neighborhood can be quite exhausting. Every neighborhood will have its perks and disadvantages, not to mention buyers also have to take in costs, location to target establishments like schools and offices among other factors. Buyers tend to get frustrated while browsing through all the locations regardless of whether they do it in person or online.Earnest can help make the process as quick and easy as possible thanks to our detailed metrics that allow us to identify your major priorities and deal with them. We also take your ideal cost into consideration before suggesting places to live. Everything from the application to getting the mortgage is done online. Fort Myers homes are affordable for all classes of buyers.
family of two enjoying beach at florida

Common Questions About Buying a Home in Fort Myers

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.