MHQ - Mortgage HeadQuarters

NEW THANKSGIVING TRADITIONS For many families, Thanksgiving is an opportunity to gather with our families or chosen families to share a fabulous meal, give thanks for our blessings and enjoy the pleasure of each other's company. Over the years, families and groups of friends often develop their own special Thanksgiving traditions they bring out every turkey day, no matter how goofy or odd it may be. Thanksgiving celebrations require a few essential: a gleaming roast turkey with stuffing, mashed potatoes with gravy, pumpkin pie with whatever amount of whipped cream you desire, and plenty of side dishes to make everyone happy. At Lake of the Ozarks , a melting pot of backgrounds, you never know what someone has to have on turkey day. Here are a few ideas to start a new tradition or enhance an old one. You can choose one or all of them to add to your Thanksgiving day traditions. MHQ Mortgage Headquarters likes to support our local community and doing it as a family forms a real bond w...

8 VA LOAN MYTHS AND THE FACTS Mortgage Headquarters is your leading lender at the Lake of the Ozarks . Our team of skilled and knowledgeable mortgage lenders are experienced in VA loans in the lake area. Tackling the loan process can be challenging enough, you want the expertise of MHQ on your side to ensure a smooth transaction. VA loans and all the myths surrounding this type of loan are confusing to many, we at Mortgage Headquarters pride ourselves in knowing the facts. Here are some of the biggest myths we hear in the mortgage loan industry. LETS TALK MYTHS Myth #1 – VA loans take entirely too long! FACT: It does not take any longer to process a VA loan than a conventional or other government loan. The key to a smooth VA loan process is a knowledgeable lender. Myth #2 – VA loans cost more than other loan programs. FACT: When you crunch the numbers, many times a VA loan can be less expensive than alternative loan options. There is no PMI or mortgage insurance on a VA loan and th...

If you are considering applying for a mortgage loan at the Lake of the Ozarks at some point, it's best that you have the greatest credit score you possibly can before applying. Yes, mortgage lenders look at this and it can affect your rate significantly. You may be wondering, but how do I improve my credit score? What actions can I actually take to get my score higher? That's what our mortgage company at the Lake of the Ozarks is about to go over in this week's blog. If you ever have any questions about this, please give us a call. MHQ - Mortgage Headquarters can be reached at (573) 302-9990. Tips on Improving Your Credit Make your payments on time! If it is just a matter of forgetting to make your payments, set a reminder on your phone, mark your paper calendar, do whatever you have to do to remember. This action alone can help improve your credit score and show your mortgage company that you know how to make payments on time, which can make you a better candid...

Whether you are applying for your first home loan at the Lake of the Ozarks or your fourth, there are things you should NOT do when trying to qualify. Our mortgage company in Osage Beach is here to give you a few tips on what NOT to do when trying to qualify for a home loan in this week's blog. Need a Lake of the Ozarks mortgage lender you can count on? Call MHQ - Mortgage Headquarters at (573) 302-9990 today. What NOT To Do When Trying To Qualify For a Home Loan Avoid switching jobs. If you are applying for a home loan, it's important that you hold down a steady job. You need to appear that you have a regular flow of income and if you are changing jobs in the middle of this process it can possibly throw things off. Avoid opening up any NEW credit cards. Your credit score can suffer when you open up a new credit card or multiple credit cards for that matter. You should not try to do this when applying for a home loan. Avoid canceling any current credit cards. ...

If you are worried about going to your mortgage lender at the Lake of the Ozarks and coming out with a fairly high mortgage rate, this is the blog for you. Many people may choose to rent when looking for a home likely because they think they can't afford a mortgage. However, our Lake of the Ozarks mortgage lenders are here to give you the best ways to get an affordable mortgage rate. You need to have all of the information first before you decide to buy a home, clearly, but if you are considering buying a home for the first time, go into this process being armed with the knowledge you need to get a mortgage rate that works for you and your family. MHQ - Mortgage Headquarters in Osage Beach is here for you! To discuss mortgage rates that meet your home loan needs, give us a call today to schedule an appointment. We can be reached at (573) 302-9990. You can also check out our website daily, at your own convenience, of course, to see how the latest mortgage rates are doing. Visit w...

As a potential first time home buyer, it's important that you know what you are getting into fully. With everything you are likely thinking about as you look at home after home after home, you may forget something very important, there's a down payment that you NEED to save for. On that note, our mortgage company at the Lake of the Ozarks is here to give you a few tips for saving for your down payment in 2020 in this week's blog. If you have questions about applying for your first mortgage at the Lake of the Ozarks , call MHQ - Mortgage Headquarters today at (573) 302- 9990. Tips for Saving for Your Down Payment in 2020 Cut back on unnecessary expenditures. Just think about all of the money you could be putting toward your down payment. You could stop spending money on things you don't absolutely have to have for a while. For example: Eating out at restaurants Buying coffee at coffee shops Shopping trips for clothes and shoes Vacations Gas money being...

Have you ever heard the old rule of thumb that states you should only consider refinancing if your new interest rate will be at least two points under your existing one? That could have been accurate years ago, but since refinancing has been costing less recently, it is a good time to consider a new loan! The best thing for you to do, if you are considering this, is to consult with an experienced mortgage lender at the Lake of the Ozarks and get your questions answered as soon as possible. A refinance is often worth its cost several times over, because of the advantages that it brings, as well as a lower interest rate. If refinancing your home at the Lake of the Ozarks is something you are interested in, please call MHQ - Mortgage Headquarters today at (573) 302-9990. In the meantime, keep reading to learn more about refinancing and whether or not it is right for you. The Benefits of Refinancing When you refinance, you could be able to reduce the interest rate and monthly...

Are you wondering if no credit is just as bad as poor credit? It can be. You need to have at least a few established credit accounts to develop a score, and you need a score for most loan programs. It's great to keep your spending under control by only using cash, but if you ultimately need to finance the purchase of a home, the sooner you solidify a good payment history the better. Without using credit, there's nothing for the bureaus to use as a basis for their scoring algorithms. A good mix makes for the best start. For example, get a bank overdraft credit line, a credit card and an installment loan, such as an auto or personal loan. Reach out to our local mortgage company at the Lake of the Ozarks today, and we'll be happy to answer any questions you may have. Call  MHQ - Mortgage HeadQuarters today at (573) 302-9990. Recent tallies show a third of U.S. credit scores fall below 649. While not impossible, acquiring a mortgage loan at the Lake of the Ozarks will likely...

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 - Mortgag...

Your home is MUCH more than a place to store your things or keep you dry when it’s raining outside. It is also a very important component in your overall financial foundation. We, at MHQ - Mortgage Headquarters of Missouri , want you to know that we understand this and are dedicated to helping you find the right mortgage solution. Not just for today - but also for the long haul. Here are the Top 3 Financial Advantages to Home Ownership: 1. The Mortgage Interest Tax Deduction Perhaps the most powerful financial incentive for owning (versus renting) is the home owner’s ability to deduct certain expenses (such as mortgage interest) from their taxable income. You may wonder: What impact will this have on my financial foundation? We'd be happy to walk you through some of the answers to that question. As you can imagine, numerous factors are involved and one size often does not fit all. We'd be happy to set some time aside to analyze your situation. 2. Forced Savings - Eq...

If you've ever brought up the subject of getting a loan for any type of major purchase, you've probably heard the phrase "how much do you qualify for?" or "we'll need to get you qualified for a loan". When it comes to your mortgage, qualification ratios may seem like something from your high school calculus class. It's actually not rocket science. The math is simple, and the concept is sound. Here's the simple breakdown of how qualification of loanability is considered. Debt to Income Ratio Income Ratio is your total monthly housing payment as a percentage of your gross monthly income. Your total housing payment consists of principal, interest, property taxes, hazard insurance, mortgage insurance (if applicable) and any condo/co-op or association fees. Debt Ratio is your total monthly housing payment plus any recurring monthly debts as a percentage of your gross monthly income. Other debts include all other payments such as cars, credit ...

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 and need answers to. Here are 6 questions you should be asking 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. For instance, if your credit score falls below 600, it's not impossible, but you could have a difficult time getting approved for a mortgage. 2. What Documents ...

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 avail...