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Buying a house in Winter Haven is in your reach

Winter Haven could be your next home. Situated in Polk county, it is one of the cities that have seen habitation since the 1500's. It is rich in history and has seen a number of wars, diseases, and has regrown from the ashes each time. It is now a city of over 35,000. As of now, the median cost of a hose is $134,000. Winter Haven was setup as a modern city in the early 1930's. The city is famous for its unique style of architecture that is described as 'colonial revival'.
Miami waterfront skyline looking east along the Miami river

Winter Haven, Florida's hidden gem

This charming and fascinating city of lakes awaits you

Winter Haven is situated smack in the middle of the state of Florida on the state's central highlands. The total size of the city is about 25 sq miles and is filled with lakes. The census report shows that 30% of the city's surface area is water! It is mostly flat with gentle inclines in some parts. It is also close to the source of Peace river. All of this makes Winter Haven a perfect city to build a family in or settle down post retirement. The city has 50 lakes in its borders and that makes for an interesting geography. It also makes for beautiful parks and public spaces where you can take long walks, sit down for picnics and generally spend time outdoors. Nearby cities like Auburndale and Lake Wales are about 2% cheaper, but not nearly as scenic. The median age of the city's population is 42.
Miami waterfront skyline looking east along the Miami river
Rear view of a family canoe ride down a beautiful tropical river.

Earnest shows the way into Winter Haven

We offer the best mortgage rates in the region

Winter Haven is the kind of city that needs to be lived in and experienced. A home here would not only be comfortable, it would also be a strong investment. If you are feeling overwhelmed by the whole mortgage applying and home searching process, we can sort it out for you right away. We create a financial profile that is designed to match your position based on metrics that involve current earnings, potential future earnings, savings and credit score. We not only give you the best possible prices, but also point out to you the most ideal locations and homes that fall into your budget. With Earnest, you no longer need to wait for your mortgages to come through in order to finance your new home in Winter Haven. With fast applications and rolling approvals, we'll have you moving into your lovely new house in no time.
Rear view of a family canoe ride down a beautiful tropical river.

Common Questions About Buying a Home in Winter Haven

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.