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Earnest helps your Windermere dreams come true

Windermere is a highly stable market and residents enjoy a better quality of life. Local amenities are plentiful, and as per Areavibes, residents earn higher incomes. Prices of properties went up by 3.9 percent in 2015. It is estimated that there will be a rise of 4.3 percent within 2017. The average prices of properties presently listed for Windermere comes to $555,000.Earnest is the best mortgage partner to assist you to purchase your dream home.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background

A town known for rich heritage buildings

Windermere is a pleasant town to stay in and has a high quality of life

Other than the quaint charms of its buildings and its position on the isthmus, Windermere also has the unique advantage of being on the shortest route between lakes on their western and eastern sides. If one opts not to go via Windermere, then the person would be forced to take the Lake Buena Vista route at the intersection of Apopka-Vineland and CR-535. There is also another crossing towards the north at Gotha, about two miles distant. The result is that Windermere is now extremely well connected, with the traffic jams neatly side swiped by the construction of roundabouts and other traffic calming methods. The Windermere School is included in National Register of Historic Places. Windermere is a calm place to live. Many residential streets, at the insistence of town residents, continue to remain unpaved.
The old Florida State Capitol building as seen from Monroe St and Apalachee Parkway with the New Capitol in the background
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

A mortgage which fits just right

Get the best home mortgages in Windermere with Earnest

For first time home buyers, the process can be an intimidating one. There are reams of documentation to be plowed through and what not. Earnest makes all these a thing of the past. The online exclusive application process makes it much simpler. It gets faster too. Even in the unlikely event of you continuing to have any doubt, our experienced and friendly client service team is just a call away. Needless to say, you will get comfortable rates. At Earnest we understand that it is not easy to pay off a mortgage loan. Typical repayment period takes years. A lot of changes can happen at that time, especially in one's finances. You may want to shorten the repayment period or take a refinance plan. We will help you to use a few of the built up equity of your home to make money available for unexpected purchases.
View of St. Petersburg. Saint Isaac's Cathedral from Palace Square in night

Common Questions About Windermere 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

People around a computer

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.