MHQ - Mortgage HeadQuarters

As rent payments rise and home mortgage interest rates fall, many couples today are opting to buy a house together instead of renting. Buying a house has a lot of advantages that renting does not, so there is no surprise that a lot of couples would rather own a house together. Before you start looking to buy a home, you and your significant other should talk about how you will apply for a home mortgage at the Lake of the Ozarks . Will you apply for the mortgage together or separate? MHQ Mortgage HeadQuarters has some advice for you. Monthly Income and Assets There are a few things to consider before you decide what will be the best route for your home mortgage. Whether you apply singly or jointly, your loan officer will look at a few factors to see if you qualify. They will look at your gross monthly income and any available assets. If you file together, combing both your monthly incomes and assets can help you qualify for your home mortgage. Debt Another major component y...

Are you considering refinancing your home? With the current relativity low mortgage interest rates, now may be the perfect time to refinance your home. Before you decide whether to refinance or not, there are some questions you should ask yourself before you start the process. MHQ Mortgage HeadQuarters has put together a list of five helpful questions to ask yourself before refinancing your home.  1. How Much Equity Do You Have in Your Home? Typically, homeowners need to have 20% equity established in their home to avoid paying private mortgage insurance. Private mortgage insurance is what lenders require if you take a mortgage or refinance without having a 20% down payment or equity. PMI is what protects the lender if the borrower defaults on their loan.  If you do not have 20% equity in your home, it might not be a good time to refinance. If your goal of refinancing is to lower your monthly payment, it might be counterproductive if you are required to pay perso...

For today's home buyers, there are only a few mortgage options which allow for down-payments of five percent or less. When  purchasing a home at the Lake of the Ozarks , a VA mortgage is an attractive option for anyone who qualifies. The VA loan remains one of the few mortgage options for borrowers who don’t have the money for a down payment. Available to millions of veterans and active military members, VA loans are somewhat easier to qualify for than conventional mortgages. Let's take a look at what a VA mortgage is and some of the  benefits of VA financing for qualified buyers . WHAT IS A VA LOAN? The VA Loan is a mortgage loan issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs (VA). The program was created in 1944 by the United States government to help returning service members purchase homes without needing a down payment or excellent credit. This historic benefit program has guaranteed more than 22 million VA loans to help veter...

Even if you have not narrowed down homes to view yet, it can be important to see your mortgage loan professional first. Why? When you don't yet know how much house you want to qualify for, what could we do for you? Did you know that getting pre-qualified for a mortgage loan can help you in more ways than one? Not only does it give you a better idea of what you can actually afford, but it gives you negotiating power when putting in offers! Take a look at how we can help you with your pre-qualification. We Can Help You Pre-Qualify We will help determine how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through pre-qualifying. We will do this by analyzing your income and debts, your work and residence situations, the funds available for down payment, required reserves, and other considerations. During the process, we calculate your ability to borrow - looking at your earning status, available money for down payment, debts, income, and ...