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Mortgage rates to make your dreams come true

With mortgage rates so low, there’s never been a better time to reach for your dreams when it comes to home ownership, and Earnest is ready to help. Our calculator helps you pinpoint how much you can spend, which is a great way to start your search for the perfect home with just the right mix of neighborhood attributes, schools, restaurants, and attractions that meet your needs.
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A home in the happiest, healthiest city in America

A home that’s right within your grasp

Naples offers many types of homes to suit both individuals and families of all shapes and sizes. Whether you prefer the country-club atmosphere and amenities of a gated community like The Estuary at Grey Oaks or a family-friendly community like Heritage Bay, you’ll find it in Naples, Florida. With a median home price of $390,000, there really is something for everyone.
Beach scene in Hollywood Florida on a beautiful sunny summer day with colorful hotels, buildings, palm trees and Atlantic Ocean in the background
Aerial view of Fort Lauderdale Beach in Ft. Lauderdale, Florida

Naples' best home loan

Paradise made easy

Interest rates are low, but that doesn’t mean they’re simple. When a lender quotes you an interest rate, they could be looking at an array of data points—or, they could be determining your future with only a few. Earnest looks at data points other lenders ignore, so that we can customize a loan that’s just right for you. Not looking to buy, but ready to refinance? That’s okay, too. In fact, it’s a great time to do so. Whether you’re looking at refinancing an existing mortgage for a better interest rate or for different terms (from 30 years to 15 years, for example), Earnest is waiting to help you do it.
Aerial view of Fort Lauderdale Beach in Ft. Lauderdale, Florida

Common Questions About Naples 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.