MHQ - Mortgage HeadQuarters

COOKIES FOR SANTA The holiday season is upon us, and we can practically smell the aroma of fresh-baked cookies in the air. Beyond being a delicious holiday treat, Christmas cookies are part of many family traditions, and have a long standing history. MHQ Mortgage Headquarters, leading lender at the Lake of the Ozarks , understands how cookies bring a family together and a since of home in every bite. Let’s take a stroll down the history of Christmas cookies. COOKIE DECORATING Icing or frosting, is there really a difference? Icing started in the 1600s with a mixture of sugar and egg whites that topped a cake once cooled, it looked just like ice. Where it got its name of icing. In recent times, the rich & creamy buttercream has become popular with its delicious taste and thicker texture for decorating. If you dare, you can tackle fondant to give your Christmas cookies a little something extra. And with so many food coloring variations to choose from today, your options are endless. ...

CHRISTMAS SPENDING & CREDIT CARDS Black Friday and Cyber Monday are just a week away and people’s Christmas spending will be in full gear. 21.5% of Americans will go into debt because of Christmas, but is that always the wise choice when buying a home is on your Wish List? MHQ Mortgage Headquarters is here to help you make your wish of owning a home a reality. Knowing how credit cards affect your ability to get a mortgage could help you with your spending habits this holiday season. 5 WAYS CREDIT CARD DEBT AFFECTS GETTING A MORTGAGE Five main factors related to your credit card debt are considered when submitting your mortgage loan application. Below are the ones we will review but it is not an inclusive list. It is always best to contact your mortgage loan professionals around Lake of the Ozarks at MHQ Headquarters .   Debt-to-income ratio . To make sure you can repay your loan, lenders calculate your debt-to-income (DTI) ratio by dividing your total monthly debt by your gros...

The fall season is here, and typically this time of year is when people start to look into their home buying options. Some buyers may already be looking at homes, and may already be making plans for their future humble abode. One thing each buyer must realize though, is that there's more to  purchasing a home at the Lake of the Ozarks  than finding a house you love and signing on the dotted line. In fact, there are several things you can do to plan ahead to ensure you're financially prepared to buy. Check out these 5 tips to prepare your finances for the home buying process: 1. Evaluate Your Budget You should develop a written budget with your income and expenses and write down your debts and your assets. Think about what you spend now on housing costs and what you would be comfortable spending monthly on your next place. Estimate your available funds for a deposit, a down payment and closing costs and identify sources for funds. 2. Check Your Credit You are entitled ...

Borrowing for a home is expensive. In fact, it's pretty likely that your mortgage payment is your largest monthly expense. But there are ways you can decrease your monthly payment and pay off your loan faster. The  best mortgage company at the Lake of the Ozarks  is here to offer you some simple  tips for saving money on your mortgage  that will also knock some years off your loan term. Check it out: 1. Make Additional Payments Here's a simple trick to reduce the repayment period of your mortgage and save thousands over the course of your loan: Make additional payments which go toward the principal. People pay extra in a few different ways. Paying one additional full payment one time a year may be the easiest to track. If you can't afford to pay an extra whole payment all at once, you can split that large amount into 12 smaller payments and write a check for that additional amount monthly. Finally, you can pay half of your mortgage payment every other week. Eac...

With many things in life, you'll likely always have the opportunity to shop for a 'better deal'. In the housing market, the best deal doesn’t always come with the lowest price. Sometimes, especially in times like now where Lake of the Ozarks real estate inventory is low, it's simply not in your best interest to hold off on putting in an offer. If you really love the house, don't lose the bid. Check out these tips for helping you weigh your options! Price vs. Payments If you're financing your purchase, you'll probably never come close to paying the actual price. You're making a comparatively small down payment and then paying interest on the loan until you refinance or sell. Yes, you will have a higher payment if you pay more for the home, but an extra $10,000 of mortgage money can add less than $50 per month on a low-rate, 30-year loan. Relative Prices Our natural tendency to pay as little as possible is not as meaningful for an investment, suc...

Are you getting ready to buy a home? We want to say congratulations on your decision! Remember, MHQ - Mortgage Headquarters has more than 20 years' experience in the mortgage industry, so we'd be a perfect fit for your mortgage lending needs. But first, we want to help you by providing some tips to start you on the right path to getting that loan approval. Here are four keys to being prepared to make your first offer. 1. Know what you can afford and how much cash you will need. Knowing what you qualify for before looking at any homes will save you the disappointment that can come from falling in love with a home that's out of reach. We'll be happy to "pre-qualify" you now so you'll know what will work later. 2. Know where you want to be. Learn about the neighborhood before you make an offer to buy. Sample the commute. Talk to would be neighbors. See the schools, shops and services before you start negotiating. 3. Choose your property type. Cons...

As a first time home buyer , you may not be aware of many moving parts that typically take place in a real estate transaction. You may also not be aware of some of the factors a smart consumer might consider before signing on the dotted line. That doesn't make you less qualified to buy, it just means you haven't experienced the home buying process yet to learn techniques. That's why it's essential to have a guiding hand that has your best interest in mind to help you along the way. This week, Mortgage Headquarters of Missouri wants to share with you some items you'll want to determine before buying your first home. You will want to consider: 1. How much you can comfortably afford.  The pre-approval process, which entails full documentation and credit check, is the best way to determine the numbers that are right for you. Early in your search, you can identify any potential hurdles and focus only on homes truly available to you. You'll also want to look ...

There's more to  purchasing a home at the Lake of the Ozarks  than finding a house you love and signing documents. In fact, there are several things you need to be planning ahead for to ensure you're financially prepared to buy. So,  MHQ Mortgage HeadQuarters  is sharing some tips to prepare you financially for the fall buying season: Check Your Credit You are entitled to a free credit report from each bureau once a year. You may also want to sign up for a Credit Karma account to keep a closer eye on your credit. Look for errors that need correcting and check for negative items that could pull your score down. Borrowers with a credit score of 740 or higher will pay lower mortgage rates than someone with a lower score. Request your credit reports from all three credit-reporting bureaus at www.annualcreditreport.com. Evaluate Your Budget You should develop a written budget with your income and expenses and write down your debts and your assets. Think abou...