Egypt Lake-Leto is a Tampa community located just north of the Tampa International Airport, offering some of the best real estate deals in Hillsborough Country. As this community gains in popularity, increasing numbers of people want to learn more about its real estate market, and how to get a mortgage in Egypt Lake-Leto, Florida.
Egypt Lake-Leto Real Estate Market
If there is one single metric that helps explain why the real estate market in Egypt Lake-Leto is so hot, it’s the median home price in this little community. Currently, the median home value rests at $140,100, which is a bargain compared to national and statewide averages. Florida has a median home price of $194,200, with the national median resting at $189,400, both drastically higher than home prices in Egypt Lake-Leto.
But don’t be fooled by this community’s low median home value! There are good reasons Zillow currently rates Egypt Lake-Leto’s real estate market as very hot.
As you review the recent growth in Egypt Lake-Leto’s home values, the strength of the market becomes even more apparent. Last year, home prices rose an impressive 7.9%, which is drastically higher than the national growth of 5.5%. Additionally, home values are predicted to rise 2.9% over the next twelve months.
Why Egypt Lake-Leto is Growing
Egypt Lake-Leto is growing, both in terms of population and home values, because it is a unique place to live.
For starters, Egypt Lake-Leto’s location in the city of Tampa provides numerous opportunities for residents. Located just fifteen minutes from downtown Tampa, Egypt Lake-Leto has easy access to great jobs, great culture, and lots of other unique urban opportunities, thanks in part to Tampa’s development as a global community.
Aside from location, Egypt Lake-Leto boasts many of the benefits enjoyed by other near-coastal Florida communities, though at a fraction of the property cost. World class beaches are a short drive away, while temperatures and a sunny climate encourage fun in the surf. Also, Florida’s relatively low cost of living, considering the weather and opportunities in the beautiful Sunshine State, makes it a perfect place for ocean lovers on a budget.
Getting a Mortgage in Egypt Lake-Leto
Getting a mortgage in Egypt Lake-Leto can be accomplished in less than 30 days from the time you put a contract on a home.
Start by getting pre-qualified for a mortgage. Call or visit your mortgage broker, and you can be pre-qualified for a mortgage in just a few minutes. Then, you can immediately begin working with a Realtor, as a pre-qualified buyer.
As you look for a home, you can begin the longer process of becoming pre-approved for a mortgage. Your mortgage broker will help you every step along the way, answering all your questions and taking care of the details.
Once you are pre-approved, the lender will make a few more requests, which your mortgage broker will help you accomplish. Then you’ll receive a “clear to close,” and the lender will send the paperwork for closing to the title company/closing agent.
Marimark Mortgage is based in Tampa, Florida, and proudly serves homebuyers and homeowners in Egypt Lake-Leto.
We specialize in conventional home mortgages, FHA, VA, and USDA mortgage options, refinance loans, and reverse mortgages. We’ve worked extensively with cash-out refinancing and help clients to lower their monthly mortgage payments.
To get started with a mortgage to buy your next home, or refinance your existing home, please fill out our Quick Mortgage Application, or contact us direct.