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Windermere is one of the nicest Florida towns

The late 19th century town is one of the earliest communities established in Orange County, Florida. The early years of the 20th century saw the first of the beautiful Windermere houses being built. According to Zillow, the average Windermere home values comes to $406,500. Properties vary in price, with the cheapest being studio flats and single family homes. Highest in the desirable scale are the triplexes and the five or more bedroom apartments.
Tampa, Florida, USA downtown skyline on the Hillsborough River.

Windermere has a number of charming old buildings

The old world charm is accentuated by acres of citrus and pristine lakes

Windermere is regarded as one of the nicest towns in Florida. Orlando lies to its east. The town population lives on an isthmus amidst large oak trees. The area falls on Butler Chain of Lakes. The first construction of the town began in 1889. Post formation of Windermere Investment Company in 1910, the first of now stately heritage homes were built. Many citrus trees were planted around this time. Many of such old buildings and residences are preserved to the present day. They provide a rare charm of the world that was old Windermere. The middle to later part of the 20th century saw the town being populated by employees of big corporations. A number of Disney executives lived here. The result is the foundation of a number of golf course developments, including Isleworth. The latter is the town's newer areas.
Tampa, Florida, USA downtown skyline on the Hillsborough River.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Purchasing your Windermere home doesn't get easier

We will help you pay for your dream home and also help you find it

Purchasing a property is one of the major milestones in one's life. It should be done with the utmost consideration. A number of factors must be considered before one signs the dotted line. You should take note of not only the condition of the property but also its location. Earnest can assist you in this regard by analyzing both your personal priorities and also financial position in regard to your home. We will factor in a number of essentials like the distance of the property from your office and also from the nearest healthcare center. Essentials like availability of public transport is also taken into account. Earnest will analyze this information to provide you a shortlist of probable neighborhoods best suited to your requirements. It will assist you to whittle down the search options and you can move into your new home much faster.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Common Questions About Buying a Home in Windermere

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.