Real Estate Lake of the Ozarks

As a first time homebuyer,  buying a home at the Lake of the Ozarks  is a very exciting time. It can also be a very stressful time - especially when you're trying to figure out your financing options. For those who don't have the best credit or a lot of money saved back to put toward a down payment, buying a home can seem impossible. Fortunately, there are several programs available to first time buyers that provide them with  great mortgage opportunities . This week, we'll look at 8 common lender programs that help first time homebuyers get into their first home: 1. FHA loan Best for: Buyers with low credit and smaller down payments Insured by the Federal Housing Administration, FHA loans typically come with smaller down payments and lower credit score requirements than most conventional loans. First-time homebuyers can buy a home with a minimum credit score of 580 and as little as 3.5 percent down or a credit score of 500 to 579 with at least 10 percent down. Unfortunat...

As a first time homebuyer,  buying a home at the Lake of the Ozarks  is a very exciting time. It can also be a very stressful time - especially when you're trying to figure out your financing options. For those who don't have the best credit or a lot of money saved back to put toward a down payment, buying a home can seem impossible. Fortunately, there are several programs available to first time buyers that provide them with  great mortgage opportunities . This week, we'll look at 8 common lender programs that help first time homebuyers get into their first home: 1. FHA loan Best for: Buyers with low credit and smaller down payments Insured by the Federal Housing Administration, FHA loans typically come with smaller down payments and lower credit score requirements than most conventional loans. First-time homebuyers can buy a home with a minimum credit score of 580 and as little as 3.5 percent down or a credit score of 500 to 579 with at least 10 percent down. Unfortunat...

Are you thinking about buying your very first home? First of all, Fran Campbell Team would like to say congratulations! Buying your first home at the Lake of the Ozarks is exciting but we also understand that it can be a little nerve-racking. Typically when you do something for the first time, you'll have some questions and you may not understand the process fully - buying your first home is no different. That's why today, our real estate team at the Lake of the Ozarks has some advice for the first-time home buyer!  Get Prequalified or Preapproved ASAP. Most of us can't buy a house without getting a mortgage loan. The loan approval process is a winding journey all on its own; depending on your progress on that particular journey, you can either aid or hinder your home buying efforts. Before you begin seriously shopping for homes, we strongly recommend you talk to a lender and get prequalified or preapproved. This will be very helpful going forward! Choose Locati...

As a first time homebuyer, buying a home at the Lake of the Ozarks is a very exciting time. It can also be a very stressful time - especially when you're trying to figure out your financing options. For those who don't have the best credit or a lot of money saved back to put toward a down payment, buying a home can seem impossible. Fortunately, there are several programs available to first time buyers that provide them with great mortgage opportunities . This week, we'll look at 6 common lender programs that help first time homebuyers get into their first home: 1. FHA loan In an FHA loan, the Federal Housing Administration, an agency within the U.S. Dept of Housing and Urban Development, insures the mortgage. The FHA’s backing offers lenders a layer of protection, meaning that your lender won’t experience a loss if you default on the mortgage. FHA loans typically come with competitive interest rates, smaller down payments and lower closing costs than conventional l...