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...

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 an interest rate and points for a longer period, like sixty days, but in exchange, the rate (and sometimes points) will be more than with a rate lock of a shorter period.Why do longer rate locks cost more? Mortgage Headquarters of Missouri shares with you the reason here. It's All About Risk Between the times you make application and close your loan, interest rates will do what they always do—change. At times, the rate of change is exceptionally volatile, even from one minute to the next. "Locking in" yo...

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...

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...

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...