Real Estate Lake of the Ozarks

It may seem logical that the most important part of buying a home at the Lake of the Ozarks is finding the home itself. However, it's important to not get ahead of yourself and secure your finances before you start looking for a home. If you don't have your finances in order before you start looking, you risk making a rushed decision on your mortgage which could cost you a higher interest or you may find your dream home and not be able to make an offer because you don't have your finances squared away. Read on to get some advice from the Fran Campbell Team for dealing with your finances for purchasing a home at the Lake of the Ozarks . Get Pre-Approved The last thing you want to do is fall in love with a home that you can't afford. That's why it's so important to know what your budget is before you start looking at homes. You can avoid a lot of wasted time and energy by getting pre-approved so you have an idea of what lenders will loan to you. This wil...

When it comes time to buy a home at the Lake of the Ozarks , there is a lot that you will need to think about. There is more to buying a home than finding the home with your desired square footage and location. One of the biggest factors in the home buying process is your mortgage. Most people can't afford to buy a home outright so we rely on financing to allow us to buy a home. It's easy to become overwhelmed when it comes time to take out a mortgage and that's why the Fran Campbell Team has put together a list of questions to ask your lender before signing the papers. 1. What is the Interest Rate? The first thing you should ask your lender for is a direct interest rate quote, as well as the corresponding annual percentage rate for the loan. The interest rate, along with your mortgage balance and loan term will determine your real monthly payment. A loan with a smaller balance or lower interest rate will make for smaller monthly payments. If you're not sure abo...

There is a lot to consider when buying a home at the Lake of Ozarks . We find that it's easy to get sidetracked with the excitement of buying a home that taking care of financing first sometimes gets overlooked - especially for first time home buyers. Most people do not have the cash on hand to buy a home outright, so financing is a huge piece of the puzzle when it comes to the real estate process. That's why today, our team of real estate agents at the Lake of the Ozarks from the Fran Campbell Team have some advice to consider to help make smart decisions when it comes to financing your next Lake of the Ozarks home . 1) Do Research on Mortgage Lending Not all mortgages are the same. First of all, you need to check mortgage rates and gather a few rate quotes. You also need to interview at least a few mortgage lenders to ensure that the mortgage and services they're offering are suitable for you. Ask questions before moving forward. Some mortgage lenders may be delay...

When  buying a home at the Lake of the Ozarks , there are several factors to take into consideration. One of the things is your mortgage. With all of the lending opportunities available, it's easy to become overwhelmed and just go with the first choice without even asking questions about your mortgage payment responsibilities. That's why the  Fran Campbell Team  has come up with a list of questions that you should be asking your lender before signing off on a mortgage commitment. Take a look: 1. What is the interest rate? The first thing you should ask your lender for is a direct interest rate quote, as well as the corresponding annual percentage rate for the loan. The interest rate, along with your mortgage balance and loan term will determine your real monthly payment. A loan with a smaller balance or lower interest rate will make for smaller monthly payments. If you're not sure about the interest rate your lender has quoted you, don't hesitate to shop around wi...

When  buying a home at the Lake of the Ozarks , there are several factors to take into consideration. One of the things is your mortgage. With all of the lending opportunities available, it's easy to become overwhelmed and just go with the first choice without even asking questions about your mortgage payment responsibilities. That's why the Fran Campbell Team has come up with a list of questions that you should be asking your lender before signing off on a mortgage commitment. Take a look: 1. What is the interest rate? The first thing you should ask your lender for is a direct interest rate quote, as well as the corresponding annual percentage rate for the loan. The interest rate, along with your mortgage balance and loan term will determine your real monthly payment. A loan with a smaller balance or lower interest rate will make for smaller monthly payments. If you're not sure about the interest rate your lender has quoted you, don't hesitate to shop around wi...

Whether you're a first-time home buyer or a seasoned professional at this point, your future mortgage payment is going to be one of your top concerns. The mortgage payment is the monthly payment homeowners make, which goes towards the principle and the interest of their home loans.  If you're considering buying a home at the Lake of the Ozarks , you should begin to educate yourself on some of the factors that influence your mortgage payment. Home Price and Down Payment One of the main factors that influence your mortgage payment is the price of your home and what percentage of the price you put down as a down payment. The more expensive the home, the greater your loan will be and, thus, the greater your monthly payment. If you make a down payment of less than 20%, you will have to pay for Private Mortgage Insurance (PMI), which protects the lender from the losses that can occur if a borrower defaults on a loan. If your down payment is 20% of the total price of the ...

Central Missouri, and the Lake of the Ozarks area in particular, is a popular destination for military veterans and retirees. We thought it might be useful to publish the current guidelines for VA Loan Eligibility. Note: The following information is accurate as of 1/2/2012 and is republished from the Department of Veterans Affairs website : http://www.benefits.va.gov/homeloans/elig2.asp Military Service Requirements for VA Loan Eligibility: Note: Applications involving other than honorable discharges will usually require further development by VA. This is necessary to determine if the service was under other than dishonorable conditions. Wartime - Service During: WWII: 9/16/1940 to 7/25/1947 Korean: 6/27/1950 to 1/31/1955 Vietnam: 8/5/1964 to 5/7/1975 You must have at least 90 days on active duty and been discharged under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged for a service connected disability. ...

Freddie Mac, Fannie Mae Maximum Loan Limits Set For 2012 Greetings from the Fran Campbell team! We hope your holiday weekend was wonderful and relaxing. We strive to always keep our followers on our Blog, Facebook page, Twitter Feed, and other social media channels up to date with current real estate news. Here is the latest and greatest on loans offered by Freddie Mac and Fannie Mae. The biggest loan that comes with a Fannie Mae or Freddie Mac guarantee will remain the same in 2012 for the entire US with the exception of Fairfield County, Connecticut where where the limit will rise to $625,500 — the same maximum loan size available in other high-cost areas. In a nutshell, here are the limits: $417,000 for mortgages on one-unit properties $533,850 for mortgages on two-unit properties $645,300 for mortgages on three-unit properties $801,950 for mortgages on four-unit properties To view the full article on loan limits - http:/ bitly.com/tSjmN7 Here is a link to check the loan ...