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Find the best homes in Lady Lake

Median home prices stand at $193,800 (Zillow reports) and the median list price stands at $124 per square foot. Prices have gone up by over 7% in the last year but experts predict that there is room for more increase. Lady Lake’s accessibility to Atlantic Coast and its perfect positioning in East- Central Florida and its easy access to the main attractions of the Orlando-Kissimmee Metro Area all add up to make this a great location to live in.
Tampa, Florida, USA downtown skyline on the Hillsborough River.

Why move to Lady Lake?

Entertainment, friendly neighbors, employment prospects, amenities

Access to Orlando- Kissimmee metro area’s best spots, and in particular, Disney World, make Lady Lake a great place for families with young children. The entire location has earned a reputation as a tourist center and properties here are in high demand all year round. For older people, Lady Lake offers the peace, quiet and safety that they seek while keeping them near enough to all the commercial hubs to ensure that you do not need to travel far or long to get where you need to be. In fact, retirees prefer these locations because of the clement weather and promise of sunshine for most part of the year. The presence of many world renowned brands including IBM, Veritas and others ensure that the populace here is well educated, driven and highly cultured. This is perhaps why Lady Lake is considered a safe neighborhood for young children.
Tampa, Florida, USA downtown skyline on the Hillsborough River.
The dynamic Miami skyline at night and a couple of palm trees.

Get a mortgage at the best terms today

Poor credit need not make you ineligible for affordable mortgages anymore

Home values are steadily rising since the past year and there is still scope for substantial increase, according to market analysts. This is the right time to buy into property in Lady Lake. If your poor credit score is making you hesitate to take a mortgage or giving you nightmares about unaffordable mortgages, Earnest has the answers you seek. Our experts understand your needs, evaluate your financial position and then identify the Lady Lake homes that match your budget perfectly. That’s not all, we also approve your mortgage loans quickly and easily and give you the best rates so that home buying does not remain an unachievable dream for you.Refinancing mortgages is also a service we offer and you can expect the same high level of customer service and efficiency from us here as well.
The dynamic Miami skyline at night and a couple of palm trees.

Common Questions About Lady Lake Mortgage Rates

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.