MHQ - Mortgage HeadQuarters

TO REFINANCE OR NOT?? Maybe you have been wondering if refinancing your current home loan is a good decision or even possible. With the interest rates still at an all-time low, refinancing your current loan(s) may be an option for you. Talking with experts in the mortgage field and around the Lake of the Ozarks , is always the best first step in the refinance process. And MHQ Mortgage Headquarters is here to help guide and advise you in the best interest of you, your family and lifestyle. The huge number of refinance options available to borrowers is truly breathtaking. We can guide you to select the refinance program that can fit your financial situation the best. Contact us at (573) 302-9990 to get started. What are your reasons for your refinance loan? Keeping in mind the information below will help you begin your decision process.   Reducing Your Monthly Payments Are your refinance goals to lower your rate and consequently your mortgage payments? In that case, your best choice...

Whether you're  buying your first home  or  refinancing your current mortgage  to make some much needed upgrades to your home, there's a lot involved when you get a mortgage. The great news for you is that when you choose to work with  Mortgage Headquarters of Missouri, Inc , we do the heavy lifting so you can concentrate on your life rather than the mortgage loan. 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 be...

Calling all homeowners! As you may have seen already, the tax deadline has changed due to the COVID-19 pandemic. That being said, have you done your taxes yet? If not, this is the blog for you! Our mortgage lenders at the Lake of the Ozarks are here to give you a few tax deductions to be aware of in this week's blog. Are you looking to refinance your home loan due to the low rates that are coming out during this pandemic? Call our mortgage company in Osage Beach today. MHQ - Mortgage Headquarters can be reached at (573) 302-9990. Homeowner Tax Deductions To Be Aware Of DO YOU OWN A VACATION HOME? If you do, you can deduct mortgage interest and property taxes from second homes and vacation homes as long as the properties are rented for 14 days or less per year. If any rental exceeds the 14-day limit per year, the IRS considers this as an income property.  When such income property is sold, the seller will either have to pay the capital gains tax or conduct a tax-defe...

Have you ever been approached by someone that thinks you should consider refinancing your home loan at the Lake of the Ozarks ? Perhaps your friend or even your spouse has brought this up to you recently. If refinancing is something you are considering, you should have all the facts first. This mortgage company at the Lake of the Ozarks is here to give you more information about refinancing your home loan in this week's blog, so you can make the best decision for you and your family. The huge number of refinance options available to borrowers is truly breathtaking. We can guide you to select the refinance program that can fit your financial situation the best. Contact us at (573) 302-9990 to get started. What are your reasons for your refinance loan? Keeping in mind the information below will help you begin your decision process. Reducing Your Monthly Payments Are your refinance goals to lower your rate and consequently your mortgage payments? In that case, your best choice ...

Refinancing a mortgage can have many benefits, such as a lower interest rate and monthly payment, refinancing from an adjustable rate mortgage to a fixed rate mortgage, or reducing your term to pay off your mortgage faster. But staying in your current mortgage may be a better option if the costs of refinancing outweigh the savings. Does the thought of refinancing put a bad taste in your mouth because of the negative things you've heard from friends or family? One thing to remember is that whether or not a mortgage refinance is right for you depends more on individual circumstances than this week's mortgage interest rates or your neighbor's past experience. What perceptions might be keeping you from saving money with a refinance? "I've read that the rate needs to be 1% or 2% lower than my current one."   When average loan amounts were much lower, it took a much bigger drop in rates to achieve tangible savings. Today, even small rate differences can ...

One of the best parts about owning a home is the equity that you built up over time. This provides value and security to your future that other investments simply can't. You may come to a point in your life where you may want to take advantage of  refinancing your mortgage  to lower your payments or to take advantage of a lower interest rate. One thing to remember, though, is that refinancing still has it's approval process just like an original loan. Here are 5 common refinancing mistakes to avoid to ensure a smooth refinancing process: 1. Not Doing Your Homework You may just be thinking about going with your current mortgage lender to refinance your home because of the convenience factor. However, if you’re planning to contact your current lender about refinancing without doing some comparison shopping first you could be selling yourself short. With rates still relatively low across the board, it may seem like a waste of time to shop around. But it could mean a huge di...

Whether you're  buying your first home  or needing to  refinance your current mortgage  to make some much needed upgrades to your home, there's probably going to be a time when you're going to have to consider mortgage lending options. Make no mistake, there's a lot involved when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a loan in a single day with a simple application. But  Mortgage Headquarters of Missouri, Inc  does the heavy lifting so you can concentrate on your life rather than the mortgage loan. Take a look at the mortgage services we offer at MHQ! First Time Homebuyer Lending As a first time homebuyer, there may be several factors to getting a loan that you may not be aware of. There are some important steps to getting a mortgage loan: deciding on a maximum loan amount, pre-qualifying for a loan, applying for the loan, and getting funded. Because lender guidelines are fairly standard, we can g...

Are you considering refinancing your home ? With the current relatively low mortgage interest rates, now may be the perfect time to refinance your home. Before you decide whether to refinance or not, there are some things you should consider. Here are a few basics to know before closing on your refinance : Your “payoff amount” is always higher than your remaining principal balance.  Your balance is the amount of remaining principal owed. Your payoff amount is the balance plus prorated interest from the last payment received until the loan is actually paid off. The funding date is usually different from the closing date.  The government mandates a three-day rescission period for refinances of primary residences. Loan payoffs will not occur until the fourth business day post-closing. This will affect the payoff amount, the final payment date and the release of any cash. Do you actually get to skip a payment?  It seems that way because your first regular paym...

Owning a home offers great benefits to a homeowner, such as the ability to use the equity that's built up over time. Home equity can truly provide value and security to your future. You may find yourself in a situation that leaves you needing to take advantage of  refinancing your mortgage  to lower your payments or to take advantage of a lower interest rate. However, while you may have equity available, there are some mistakes homeowners make that prevent them from being able to refinance. Check out 5 mistakes you should avoid to prevent not being able to tap into your home equity when you need it. 1. Not Doing Your Homework You may just be thinking about going with your current mortgage lender to refinance your home because of the convenience factor. However, if you’re planning to contact your current lender about refinancing without doing some comparison shopping first you could be selling yourself short. With rates still relatively low across the board, it may seem l...

While the thought of obtaining a mortgage can seem daunting, the idea of owning your own home makes all the hassle worth it! And with the right mortgage lender by your side, guiding you and answering any questions you might have along the way, it's really not as difficult of a process as you might think. Mortgage Headquarters of Missouri, Inc. makes it easy for our clients to close a loan. With over 20 years in business, we have the knowledge to help you through the process with surprising ease. Here are just a few of the mortgage programs we can help you with! 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-inco...

Whether you're  buying your first home  or  refinancing your current mortgage  to make some much needed upgrades to your home, there's a lot involved when you get a mortgage. The great news for you is that when you choose to work with  Mortgage Headquarters of Missouri, Inc , we do the heavy lifting so you can concentrate on your life rather than the mortgage loan. 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 bene...

Whether you're  buying your first home  or needing to  refinance your current mortgage , you’re going to need to know your mortgage lending options. And while the thought of obtaining a loan can seem daunting, it’s really not as scary as it may seem! We make it easy with over 20 years in business, Mortgage Headquarters of Missouri, Inc, has the knowledge to help you with this process. Take a look at the mortgage services we offer at MHQ! First Time Homebuyer Lending As a first time homebuyer, there may be several factors to getting a loan that you may not be aware of. There are some important steps to getting a mortgage loan: deciding on a maximum loan amount, pre-qualifying for a loan, applying for the loan, and getting funded. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation. Getting a pre-qualification letter can be a useful tool when shopping for homes and when you make an of...