Am I Really Ready To Buy a House?
You have been renting for YEARS and you have gotten to a point where you're tired of spending money on something you don't actually own. You're also tired of:
If this sounds like you, we urge you to call an experienced mortgage lender at the Lake of the Ozarks today and get pre-qualified for a home loan. This will give you an idea of how much you can actually afford. It's important that you understand, buying a home is a BIG commitment and you need to be ready if this is something you're truly considering. Keep reading this week's blog for a few tips on how to know if you are really ready to buy a house. If you have any questions about buying your first house, please give our mortgage brokers at the Lake of the Ozarks a call. MHQ - Mortgage Headquarters can be reached at (573) 302-9990.
Know How Much You Can Truly Afford.
As we said earlier, getting pre-qualified for loan lets you know how much you can actually borrow. Not only that, but it will also put you in a better position as a buyer. It's pretty easy to do too. To get pre-qualified for a loan with our mortgage company in Osage Beach, we will collect information about your debt, income, and assets. We’ll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. Then, we will issue you a pre-qualification letter indicating the amount you are pre-qualified to borrow. It's as simple as that!
Understand The Time Commitment That Is Involved.
When you buy a home and get a mortgage, you may be looking at a 30 year commitment, for example. Sure, you have the option of selling your home and paying off your mortgage before then, but that's not always the easiest thing to do. It's not like renting, where you just have to wait until your lease is up and you can pick up and move. Look at where your life is at right now and really determine if this is the place you see yourself for a long time. Can you picture yourself raising your family here? These are the types of questions you should be asking yourself if you are considering buying a home in the area.
Realize How Important It Is To Have An Emergency Fund.
There's a lot more that goes into buying a house than you may think. Do not forget about the closing costs that are involved. Standard Closing Costs include, but are not necessarily limited to:
Loan-Related Costs
Property Taxes
Homeowners Insurance
All of us here at MHQ - Mortgage Headquarters understand that this may be a lot to consider at once, so if you have any questions about buying your first home, please give us a call. We can be reached at the phone numbers listed below and you can follow us on our social media channels listed below to stay up to date on our latest home loan tips. If you are currently searching for your first home to buy, we wish you an easy, stress-free search!
Mortgage Headquarters of Missouri, Inc
4824 Osage Beach Parkway, Suite 1
Osage Beach, MO 65065
Office: (573) 302-9990
Toll Free: (888)799-1206
Fax: (636)648-9917
NMLS # 1229111
www.MHQMortgage.com
- Not being able to control the neighbors you have
- Not being able to make actual home improvements
- Your rent increasing over the years
- Not having a fenced-in yard for your dogs
- Making maintenance requests and not getting timely responses
...etc. You're at the point where you feel like enough is enough!
If this sounds like you, we urge you to call an experienced mortgage lender at the Lake of the Ozarks today and get pre-qualified for a home loan. This will give you an idea of how much you can actually afford. It's important that you understand, buying a home is a BIG commitment and you need to be ready if this is something you're truly considering. Keep reading this week's blog for a few tips on how to know if you are really ready to buy a house. If you have any questions about buying your first house, please give our mortgage brokers at the Lake of the Ozarks a call. MHQ - Mortgage Headquarters can be reached at (573) 302-9990.
Know How Much You Can Truly Afford.
As we said earlier, getting pre-qualified for loan lets you know how much you can actually borrow. Not only that, but it will also put you in a better position as a buyer. It's pretty easy to do too. To get pre-qualified for a loan with our mortgage company in Osage Beach, we will collect information about your debt, income, and assets. We’ll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. Then, we will issue you a pre-qualification letter indicating the amount you are pre-qualified to borrow. It's as simple as that!
Understand The Time Commitment That Is Involved.
When you buy a home and get a mortgage, you may be looking at a 30 year commitment, for example. Sure, you have the option of selling your home and paying off your mortgage before then, but that's not always the easiest thing to do. It's not like renting, where you just have to wait until your lease is up and you can pick up and move. Look at where your life is at right now and really determine if this is the place you see yourself for a long time. Can you picture yourself raising your family here? These are the types of questions you should be asking yourself if you are considering buying a home in the area.
Realize How Important It Is To Have An Emergency Fund.
There's a lot more that goes into buying a house than you may think. Do not forget about the closing costs that are involved. Standard Closing Costs include, but are not necessarily limited to:
Loan-Related Costs
- Various Taxes
- Loan-related costs
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Account
Property Taxes
- Transfer Taxes and Recording Fees
- Insurance
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Earthquake Insurance if applicable
But, in addition to the closing costs, you should have an emergency fund for maintenance issues that could up unexpectedly. For example, your HVAC unit could break down and if you end up needing to replace it, that could end up costing your a few thousand dollars.
When YOU'RE Ready To Buy a House, WE Are Here For You!
All of us here at MHQ - Mortgage Headquarters understand that this may be a lot to consider at once, so if you have any questions about buying your first home, please give us a call. We can be reached at the phone numbers listed below and you can follow us on our social media channels listed below to stay up to date on our latest home loan tips. If you are currently searching for your first home to buy, we wish you an easy, stress-free search!
Mortgage Headquarters of Missouri, Inc4824 Osage Beach Parkway, Suite 1
Osage Beach, MO 65065
Office: (573) 302-9990
Toll Free: (888)799-1206
Fax: (636)648-9917
NMLS # 1229111
www.MHQMortgage.com
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