You Can Refinance At Any Point in Your LoanIn some instances, you don’t have to have your loan for a certain period of time before you refinance, which means that when you feel like it’s the best time - you can do it! You will want to do the math and make sure that you will be coming out ahead by the time it’s all over. We have many clients ready to refinance right now because the rates are fantastic. If you are considering refinancing your home, the goal is to make sure that it will lower your monthly mortgage payment and help you take advantage of lower interest rates. Refinancing certainly has some benefits, so if you’ve been considering it, we would be glad to help you make some final decisions.
Interest Rates Change QuicklyOne of the first questions a soon-to-be homeowner will ask is “what’s the interest rate?” This answer is virtually impossible to answer straight away, but with a little bit of research, we can help you learn what your interest rate will be. An interest rate is figured based on your financial situation, but interest rates are also ever-fluctuating, similar to stocks, bonds, and other financial investments.
Better Credit = Better DealIt shouldn’t come to a surprise to you, but the better your credit, the more options you have available to you. In fact, the better your credit, the better your chances are for not only getting approved for a mortgage loan at Lake of the Ozarks but also getting a better rate. There are programs out there that can help with not-so-great credit, but if you want a great deal, you can invest the time and effort it takes now to help improve your credit.
A Large Down Payment Isn’t Required (But It Is Helpful!)It’s a common thought that you need to have 20% to put toward a down payment - but this isn’t always the case. A large down payment is still beneficial if you have it, but if you don’t, there are a variety of home loan options that will allow you to put down as little as $0.00. You can fill out the application on our website and we can discuss the different options available for you and will provide a pre-approval, should you qualify!
If you're considering a home purchase at Lake of the Ozarks, give us a call at 573-746-7211. As your mortgage professional at Lake of the Ozarks, we can discuss your options, offer competitive rates, and back it up with the first-class service you deserve!
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Senior Loan Officer
NMLS #: 493712
4655 B Osage Beach Parkway
Osage Beach, MO 65065
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.