Questions & Answers About Mortgage Loans
If you've never purchased a home before (and even if you have!) the process can be rather confusing. A successful real estate closing requires effective cooperation between several parties, including the buyers, sellers, lenders, real estate agents, title insurance company, and the builder and homeowners' association (if applicable). Each party has its own list of things to do and requirements to meet in order to play their role in the process. Today, our local real estate agents at the Lake of the Ozarks are here to help you make sense of one particular aspect of the home buying process: the mortgage loan. We are not mortgage lenders (nor do we aspire to be), but we have been through enough real estate transactions to have a basic understanding of how the process works. Here are some general answers to a few of the questions we hear our clients most often ask about mortgages. What Will My Interest Rate Be? Unfortunately, it is impossible to provide any sort of accurat...