MHQ - Mortgage HeadQuarters

As a smart consumer, you want to capitalize on the lowest possible interest rate when choosing a mortgage loan. But as ever-changing as the mortgage lending industry is, it's not always so easy. With  interest rates changing  as often as they do, choosing the right time to lock in can be difficult. It's times like these you need to rely on a  trusted Lake of the Ozarks mortgage lender  to help you through the process. But first it's important to understand how rate locks work. What is a 'Rate Lock'? When you're promised a "rate lock" from the lender, it means that you are guaranteed to keep a specific interest rate for a certain number of days for your application process. This keeps you from going through your whole application process and finding out at the end that the interest rate has gone up. Rate lock periods can vary in length, anywhere from fifteen to sixty days, with the longer ones usually costing more. A lender may agree to lock in ...

As mortgage rates fluctuate throughout the year, borrowers may be wondering what they can do to save the most money on interest rates. For some, an early  rate lock may be the answer. For others, floating until a lower rate becomes available may be worth the risk. All loans are locked in at some point prior to closing, but should you do it earlier or later? Consider the following points to help you decide. Locking vs. Floating Locking In sets or “locks” the interest rate of your loan for a specific number of days. Typical locks run in 15 day increments up to 60 or 90 days. Once set, it's important for your loan to close within that period, and hence, locking is safe only if you're sure of the closing date. Floating is the opposite of locking in and simply means your rate is not yet set. It's "floating" with the market. If rates are moving down, you can benefit. If rates are moving up, your rate will, too. Which is Best?  Unfortunately, "best" c...

As a smart home buyer, you want to capitalize on the lowest possible rate to save as much money over time as possible. But as ever-changing as the mortgage lending industry is and how stocks and bonds and the recent election affect the market, it's not always so easy. With  interest rates changing  as often as they do, choosing the right time to lock in can be difficult. It's times like these you need to look to a  trusted Lake of the Ozarks mortgage lender  to help you through the process. But first it's important to understand how rate locks work. What is a 'Rate Lock'? When you're promised a "rate lock" from the lender, it means that you are guaranteed to keep a specific interest rate for a certain number of days for your application process. This keeps you from going through your whole application process and finding out at the end that the interest rate has gone up. Rate lock periods can vary in length, anywhere from fifteen to sixty day...

When purchasing a home at the Lake of the Ozarks, you'll want to capitalize on the lowest possible interest rate you can get. But as ever-changing as the mortgage lending industry is, it's not always so easy. With  interest rates changing  as often as they do, choosing the right time to lock in can be difficult. That's why you should rely on a  trusted Lake of the Ozarks mortgage lender  to help you through the process. But first, educating yourself on how rate locks work can be your best tool. Understanding Rate Locks A 'Rate Lock' means that your mortgage lender agrees to keep a specific interest rate offered for a certain period of time during your application process. This keeps you from going through your whole application process and finding out at the end that the interest rate has gone up. Rate lock periods can vary in length, anywhere from fifteen to sixty days, with the longer ones usually costing more. A lender may agree to lock in an interest r...

When purchasing a home at the Lake of the Ozarks , you want to ensure that you're making the right selection when it comes to the loan option you choose, as well as the lender you choose to work with. MHQ - Mortgage Headquarters has more than 20 years' experience in the mortgage industry, so we can confidently answer many of your mortgage lending questions. Take a look at the 6 questions we've come up with that you should ask your lender before applying for a home loan. 1. What Type of Loan is Best for Me? Any reputable lender will find out more information from you to better serve your needs before recommending any given loan option. Since each loan option requires a different set of stipulations to be met for approval, it's virtually impossible to say with confidence what loan would best fit your needs without gathering information first. 2. What is the Interest Rate and Annual Percentage Rate The annual percentage rate (APR) is derived by a complex calcul...

Purchasing a home could be one of the most impactful financial decisions you will make in your life. As a smart consumer, you want to capitalize on the lowest possible rate. But as ever-changing as the mortgage lending industry is, it's not always so easy. With interest rates changing as often as they do, choosing the right time to lock in can be difficult. It's times like these you need to rely on a trusted Lake of the Ozarks mortgage lender to help you through the process. But first it's important to understand how rate locks work. What is a 'Rate Lock'? When you're promised a "rate lock" from the lender, it means that you are guaranteed to keep a specific interest rate for a certain number of days for your application process. This keeps you from going through your whole application process and finding out at the end that the interest rate has gone up. Rate lock periods can vary in length, anywhere from fifteen to sixty days, with the long...