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Buying a house in Largo is now easier than ever

Largo is situated in a region that has been under habitation for many hundreds of years by native Americans, the Tocobaga people lived here long before the Spanish landed on our shores. After a few tumultuous years and going from crowded settlement to deserted, to battlefield and new settlements, it was finally handed over to the USA in the mid 1800's. Today, the median cost of a house is $160,000. Just across the bay from Tampa, it is a great location to set up a home and raise a family.
View of Miami at sunset, special photographic processing, USA

Largo- long history, positive future outlook

Beautiful sights and sounds within an urban sprawl

Seated along the western coast of the Pinellas peninsula. It is bordered by Clearwater in the north and Seminole to the south. It is a rather compact city in that it is only about 18.6 sq miles. Making it an ideal sized city that is perfect to move into, especially for the seniors. One of the defining features of the city is that its lowest point is at sea level. It was long, sloping roads and the landmass is dotted with lakes. Median age of the city's population is 48, a mature crowd. 75% of the residents here are homeowners, making it the kind of place that you would want to settle in for the long haul. In spite of there being public transportation available, over 97% of people travel by car. It is also less expensive than Seminole, which is 13% more costlier in terms of house sales. Clearwater is 6% more expensive.
View of Miami at sunset, special photographic processing, USA
Family day at the beach on Amelia Island, Florida.

Get started right away with Earnest

Let us help you find your dream home in Largo

There is no better feeling of security than being inside your own home. So if you are going to get a house, make sure you get the best you can. Earnest deals with home mortgages in a way that most other loan providers don't. Our application process is quick and approvals happen far quicker than you would imagine. To serve you better, at Earnest, we create a unique financial profile based on a number of metrics that is not just limited to your credit. Apart from actually getting you the best price, we can even find you the right neighborhood in Largo. Contact us now, get started right away!
Family day at the beach on Amelia Island, Florida.

Common Questions About Buying a Home in Largo

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.