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Fall in love with a city with character

Garrett Park is a lavish commuter suburb famous for its abundance of luxurious Victorian mansions and million-dollar homes. If you're looking for a place to retire or a smart spot to raise your kids, Garrett Park has a lot to offer you and your family. A public park and privately owned pool are sure to please when the weather is warm, and the diverse assortment of community events will keep you connected to your city.

A beautiful and vibrant community

There's always something to do in Garrett Park

Scenic landscapes, beautiful homes, and a robust community: What more could you want out of a location? This small city has a lot to give. Garrett Park offers an abundance of social events, including yoga classes, movie nights, farmers' markets, and community-sourced concerts. While there aren't many shops or restaurants in town, residents can take a short walk to amenities in nearby cities. Enjoy quick access to larger cities and short commute times. The world is your backyard. Garrett Park has many houses and condos available, and with an many styles, sizes, and prices to choose from, you're sure to find your dream home. We can help make that dream a reality.

Find your perfect home in Garrett Park

Earnest makes homebuying quick and painless

Living in a scenic paradise doesn't have to be a fantasy when you buy a home in Garrett Park. But finding the perfect home isn't always easy. Comparing neighborhoods, prioritizing your home needs, and setting a budget can easily overwhelm even the most savvy of shoppers. That's where we come in. Let Earnest help you finance your dream home. We offer the tools you need to assess your budget, compare markets, and select your target home price. Find your perfect home and fall in love with Garrett Park. Don't delay your dreams!

Common Questions About Buying a Home in Garrett Park

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.