MHQ - Mortgage HeadQuarters

If you are thinking of buying a home this year, it's important that you are financially prepared. If you don't know what an emergency fund is, you should educate yourself on this subject before you get too far into the home buying process. Our mortgage company at the Lake of the Ozarks is here to give you a few reasons why you should have an emergency fund in this week's blog. If you are interested in buying a home and need a mortgage lender at the Lake of the Ozarks you can count on, call MHQ - Mortgage Headquarters today. Why Should You Have An Emergency Fund? Have you ever heard the expression, "Prepare for the worst and hope for the best." This notion is why you should have an emergency fun when owning a home. Homeowner's insurance doesn't always cover everything. Keep reading for a reasons an emergency fund can come in handy. Costly House Repairs Let's say your HVAC unit breaks down unexpectedly. This isn't necessarily something that's ...

Have you ever heard of PMI or Private Mortgage Insurance? PMI may have a bad reputation with certain people but the reality is it's really not a bad thing. This mortgage company at the Lake of the Ozarks is here to give you more information on what PMI actually is and the possible benefits you can receive from it when trying to apply for a mortgage, in this week's blog. To ask an experienced mortgage lender at the Lake of the Ozarks about PMI and more, please call MHQ - Mortgage Headquarters today at (573) 302-9990. How is PMI calculated? Your PMI premium is fixed based on plan type (loan-to-value ratio, loan type, loan term, etc.) and is not related to your particular credit history or other individual characteristics. PMI typically amounts to about one-half of one percent of your mortgage amount annually, according to the Mortgage Bankers Association, and the premium payment is usually rolled into your monthly mortgage payment.  On a $200,000 mortgage, you may be pa...

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...