MHQ - Mortgage HeadQuarters

In a perfect world, retirement is the ultimate goal. You don't have to worry about working to make ends meet anymore. Your retirement funds cover your living expenses. You can simply relax and enjoy the fruits of your many years of labor. In reality? That picture perfect dream isn't always obtained. Retirees may own houses and cars, but that doesn't mean they couldn't benefit from a loan for some reason or another. From paying for emergency expenses to providing tax benefits, a mortgage loan can offer great benefits to retired seniors. Retirees Need Money Too Seniors may have an expensive medical emergency, discover their home needs a major renovation or decide to help an adult child with expenses. Other times, seniors may pursue a loan for a better interest rate or to maximize tax savings. Often times, retirees apply for loans to refinance their mortgage, to downsize to a smaller home or to buy a second home. Regardless of the reason a retiree may be interested

Taking out a second mortgage on your home used to carry some stigma with it – a sign that you were in financial trouble. But today, the ability to borrow money against your property is considered one of the biggest advantages of owning a home. A second mortgage is essentially a loan secured by your home or another piece of property with a first mortgage. The second mortgage allows the homeowner to tap into his or her equity to pay for college tuition, essential home improvements, pay off credit card balances or other pressing financial needs. Qualifying for a Second Mortgage Because there is more risk involved with a second mortgage, the lender's conditions are usually more stringent, the term is shorter and the interest rate is higher than for the first mortgage. In the event of default, the holder of the second mortgage is subordinate to the first. To qualify for a second mortgage, your credit must be in good standing and you must be able to document your income. An app

At  MHQ - Mortgage HeadQuarters , we firmly believe that getting to know the people you're working with makes a huge difference in being able to comfortably do business with them, especially when it comes to buying a home! So this week, we wanted to give you a little background about ourselves, our services, and how we got into  mortgage lending at the Lake of the Ozarks . How We Got Started In 1998 while Tami and Nick were working on getting Lake of the Ozarks boaters gas tax refunds back, they found a need to expand their great services to help customers with mortgage financing. Since then, Tami and Nick have been providing home purchase and refinance options since 1998, and to this day are still providing good old fashion service. Tami’s background is in Industrial Engineering and Nick’s is in Accounting and Economics. The combination of the two backgrounds makes a great team to handle your mortgage financing. Combined, your mortgage specialists at  MHQ - Mortgage Headquar