MHQ - Mortgage HeadQuarters

For homeowners, there are many reasons to refinance a mortgage . Whether it be for the opportunity to obtain a lower interest rate and lower monthly payment amounts, to shorten the term of the mortgage, or the opportunity to consolidate debt, refinancing can offer many great financial opportunities for homeowners. However, refinancing can also become a major risk if you're not careful. The danger in refinancing lies in ignorance. Without the right knowledge it can actually hurt you to refinance. So, MHQ Mortgage Headquarters wants to take this time to help you determine whether refinancing is right for you or not. Consider these questions: What is Your Purpose for Refinancing? Homeowners often have different reasons for refinancing. It could be for consolidation of debt, home improvement, or for a major purchase. It could also be for other personal or financial reasons, perhaps taking a loan for cash to purchase a car. Before refinancing for certain purposes, especially when...

When buying a home, it's important to factor in all costs into your budget to ensure there are no surprises come closing day. However, many new home buyers often get blindsided by the fact that they'll likely need to come to the closing table with funds in hand to cover such fees. So, to help new buyers prepare for all possible costs related to buying a home, we're providing information on what standard closing costs there typically are so you're better prepared for your closing. What are Closing Costs? "Closing Costs" are the fees which pay for the various services involved when you sell or buy a home. Sellers and buyers almost always negotiate to determine who will pay different portions of these costs. Many of the closing costs result from getting your mortgage. Since Mortgage Headquarters of Missouri, Inc is highly experienced with closings and mortgages, we often explain the details of closing costs. Loan Estimates (LEs) Buyers will get a "...

When applying for a mortgage loan , there are several items that you'll need to provide to the lender so they can begin processing your application. All too often, buyers run into snags in the approval process because they were unaware of a document they needed to provide to the lender. This can hold up the approval process and potentially put the buyer at risk for not meeting necessary contract deadlines on financing. So, this week we've decided to share with you a list of items you'll need to provide to your lender to ensure a smooth application approval process. Take a look. In general, the documentation you will need includes:   Income & Assets: Pay stubs for the last 30 days Last two W-2s Last two checking and savings Statements for each bank, mutual fund, and/or investment account (all pages even if bank) If Self-Employed or own more than 25% of a corporation or partnership or have rental properties:  Last two years of federal Tax returns (with sche...

For today's home buyers, there are a vast number of items to address before you can move into that dream home of yours. When  purchasing a home at the Lake of the Ozarks , many questions can arise about the different aspects of the mortgage loan itself, along with the process of approval. MHQ - Mortgage Headquarters has more than 20 years' experience in the mortgage industry, so we know what questions buyer's want answers to. So we've come up with a list of frequently asked questions and are delivering the answer to make your mortgage shopping decision easier! Take a look:  1. Can I Buy a Home When My Credit is Less Than Desirable? Yes, you can, however it's not always as simple as yes or now. Different loan products have different requirements in regard to credit score. Some loans allow a lower credit score than others. The downside is that the lower your credit score, the higher your interest rate is likely to be, and the lower your chances are for approval....