Your Lake of the Ozarks Mortgage Lender: Mortgage Expectations In February

Wednesday, February 13, 2019

Mortgage Expectations In February

The mortgage world is consistently adjusting as finances, real estate, and government changes arise. Because of this, we want to make sure that our clients are kept informed and up to date of these changes. Now is a GREAT time to get a mortgage at the Lake of the Ozarks, and Team Lasson is ready to assist you. Take a look at these things to watch for through the month of February if you are getting a home loan at the Lake of the Ozarks.

Make the Most of Higher FHA Loan Limits

FHA mortgages are great options for those who want to lock in the low mortgage rates, even if you do not have a large down payment saved or an excellent credit score. FHA loans are backed by the Federal Housing Administration, and only require 3.5 to 10 percent down depending on your credit score. The most intriguing find for FHA borrowers is that roughly 3,000 zip codes got a 7-percent hike in FHA loan limits. Higher limits provide the ability for a buyer to access a bigger piece of the market, which is great news when considering the rising home prices. Are you looking for an FHA loan? Team Lasson would be glad to talk to you about the options available for you.

Boomers Can Use Equity to Pay for Renovations

Statistics are showing that many baby boomers are planning on staying in their homes for a while, but in addition, they are going to be remodeling them as well. In fact, 9 out of 10 said that they wanted to make improvements to their home according to a study by Chase and Pulsenomics.

Studies also showed that these boomers plan to start their renovations within the next three years. The next question is, how do they want to fund them? One option is to borrow against the equity in your home and save on interest. If you are a homeowner who wants to renovate either your primary residence or your vacation home at the Lake of the Ozarks we can help you find the best options.

What Is Next?

Every month, the mortgage market will adjust to the current trends and economy. You never know what will happen next month, but that means that now is a great time to get started. Team Lasson has been providing the best mortgages at the Lake of the Ozarks for vacation homes and primary residences alike. Are you ready to fast track your mortgage? Team Lasson offers Home Loan Express as a great way to get your mortgage FAST. Visit our website to learn more, or give us a call - we would love to chat with you!

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