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Buy your Dream Home in Lady Lake, Florida

Its prime location in East- central Florida area makes Lady Lake a perfect spot for aspiring buyers. The beautiful weather, with sunshine for most of the year, makes it a great place for elders and young children alike. Known as a resort city, Lady Lake is, thankfully, not a high end place where your cost of living is likely to be sky high. With friendly locals, a strongly interconnected community and world class amenities, this is just the place for you if you are ready to invest in property.
View of Miami at sunset, special photographic processing, USA

Great reasons to move to Lady Lake

Entertainment, accessibility, safe neighborhood

For families with kids, the best thing about Lady Lake is its proximity to Orlando and the world famous Disney World. But this is not the only entertainment spot if you live in Lady Lake because there is so much that has come up around the Disney complex that choosing your favorite may be your only problem if it is entertainment that you seek.If theme parks are not your style, Florida’s many beaches are quite accessible too. Lady Lake is also a good place for young professionals to move to because of its nearness to bustling commercial hubs where the likes of IBM, Electronic Arts, Veritas, General Dynamics and many other businesses have huge offices. For those in the service industry, coming here may prove to be a career changing move because of the reference that many service businesses give to this area for their headquarters.
View of Miami at sunset, special photographic processing, USA
The dynamic Miami skyline at night and a couple of palm trees.

A good time to buy your Lady Lake Home

Call Earnest to buy a reasonably priced home with world class amenities

The superlative access to various Florida locations and to the rest of the U.S. make Lady Luck a coveted spot for many business owners to set up a home here and also draws families. This makes properties here very good investments indeed.According to Zillow, the home value index here stands at $193,800. Prices have gone up by more than 7%over the past year, indicating that interest and demand for properties here. Experts predict that values could still rise and that’s exactly why you should make a move right now. Earnest can help you identify the right home at the right price that is perfectly suited to your unique needs. We factor in your financial status, your goals and your budget limitations before we start the home finding process. Our focus on customer satisfaction makes us a preferred partner for many aspiring home buyers.
The dynamic Miami skyline at night and a couple of palm trees.

Common Questions About Buying a Home in Lady Lake

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.