MHQ - Mortgage HeadQuarters

Mortgage lending can be a complicated and overwhelming experience if you're not familiar with how it all works. So this week,  MHQ Mortgage HeadQuarters  is sharing with you the typical steps of the mortgage loan process so you know what to expect for your next home purchase at the Lake of the Ozarks. Take a look: PRE-APPROVAL One of the very first things you should do when you decide to purchase a home, is to  get a loan pre-approval . This will help to determine an estimated loan amount that your lender is willing to loan to you. Not only will this help give you a budget baseline to work with, but it'll prevent you from looking at homes outside of what you can afford. Pre-approvals also let sellers know you're a serious buyer and not just window shopping. Remember: A pre-approval and a pre-qualification are NOT the same thing! While a pre-qualification may give you an idea of what a lender may loan to you, it is a very general estimate and does not hold any weight...

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...

Anyone who's ever purchased a home at the Lake of the Ozarks knows that the mortgage lending process can be a complicated and overwhelming experience if you're not familiar with how it all works. That's why this week, MHQ Mortgage HeadQuarters has decided to lay out the typical steps of the mortgage loan process so you know what to expect for your next home purchase at the Lake of the Ozarks. Take a look: PRE-APPROVAL One of the very first things you should do when you decide to purchase a home, is to get a loan pre-approval . This will help to determine an estimated loan amount that your lender is willing to loan to you. Not only will this help give you a budget baseline to work with, but it'll prevent you from looking at homes outside of what you can afford. Pre-approvals also let sellers know you're a serious buyer and not just window shopping. Remember: A pre-approval and a pre-qualification are NOT the same thing! While a pre-qualification may give you ...