MHQ - Mortgage HeadQuarters

While it may seem that the first step in the home buying process should be finding the home you want to buy, that's simply not the case. Your first step should be getting pre-qualified or pre-approved for a mortgage. Getting pre-qualified or pre-approved 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 or pre-approval. How Much Can You Afford? Before you begin to shop for a new home, you should set up a time to meet with me so we can figure out how much you can afford. This will put you in a better position as a buyer. That’s when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. The difference between the two terms will be crucial when you decide to make an offer on a house. What We'll Need to Determine Y

Whether you're  buying your first home  or needing to  refinance your current mortgage , you’re going to need the expertise of a mortgage professional on your side. We make obtaining a mortgage loan easy. With over 20 years in business, Mortgage Headquarters of Missouri, Inc has the knowledge to help you find the right loan for your needs. Take a look at the mortgage services we offer at MHQ! FHA Loans An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans. FHA loan programs are particularly beneficial to those buyers with less available cash.

As a smart consumer, you want to capitalize on the lowest possible interest rate when choosing a mortgage loan. But as ever-changing as the mortgage lending industry is, it's not always so easy. With  interest rates changing  as often as they do, choosing the right time to lock in can be difficult. It's times like these you need to rely on a  trusted Lake of the Ozarks mortgage lender  to help you through the process. But first it's important to understand how rate locks work. What is a 'Rate Lock'? When you're promised a "rate lock" from the lender, it means that you are guaranteed to keep a specific interest rate for a certain number of days for your application process. This keeps you from going through your whole application process and finding out at the end that the interest rate has gone up. Rate lock periods can vary in length, anywhere from fifteen to sixty days, with the longer ones usually costing more. A lender may agree to lock in

For buyers who require a mortgage loan to purchase a home or piece of property, you're probably wondering what your monthly payments will look like, and how those payments will be allocated to the full balance of your purchase. In most circumstances, borrowers will have a fixed repayment schedule over the repayment period of the loan, called a loan amortization. Loan amortization provides borrowers with a clear and consistent picture of how much they will be repaying during each repayment cycle. Payments will be made in regular installments in a set amount that consists of both principal and interest. MHQ Mortgage Headquarters of Missouri explains in further detail the breakdown of loan amortization and how the schedule works over time. Take a look.  What is Loan Amortization?  Amortization is the process of spreading out a loan into a series of fixed payments over time. A fixed rate loan can also be referred to as a fixed payment loan. However, the amount of principal