If you have been thinking about
purchasing a home at Lake of the Ozarks, it can be tempting to start the process by scouring the MLS listings. Before you start daydreaming about the perfect home and choosing the location where you want your
vacation home at Lake of the Ozarks to be - there are a few things you can do to give you a good start.
Team Lasson is here to help, so we have a few tips to get you started before you begin looking for a home.
1. Speak With A Mortgage Lender
One of the first things you may think to do when you are ready to purchase a home would be to speak with a real estate agent. While it will be vital to speak with a reputable real estate agent to buy a home, it’s not necessarily the first step in the process. When you speak with a mortgage lender first, you will get a good idea for how much you can afford in your monthly mortgage. We will start with a pre-approval for a mortgage loan, and you can apply for this by simply going to our website (
www.YourLakeLoan.com)
2. Decide What You Want In Your Home
Before you start looking at homes and are fascinated by their charm and appeal, you should sit down and decide what you genuinely want. Do you want your vacation lake home to have an amazing view? Would you prefer a large kitchen or plenty of guest room space? Spend this initial time making a list of needs and a list of wants so that you can pick through homes accordingly once you start your search.
3. Start Saving For A Down Payment
If you have not already started saving for a home purchase, start now! Depending on the loan program you are looking to obtain, you do not necessarily have to have the traditional 20% down payment these days, however, the more you can put down, the better off you will be. Not only will you start this transaction off with a little equity in your home, but you're also likely to get better rates and terms if you have a nice size down payment.
4. Get A Mortgage Preapproval
Before you dive into the house hunting process, it's important that you talk to a
mortgage lender at the Lake of the Ozarks and get a mortgage pre-approval. The pre-approval is the first step any serious home buyer should take. Not only does the process help you determine what you can afford, it shows both sellers and real estate agents that you're serious about buying a home. Real estate agents will be more eager to work with you and sellers will likely be more willing to negotiate and/or accept your bid over those who don't have a pre-approval.
After you have completed these steps, now you can start your home search. You, your mortgage lender, and your real estate agent will all work together throughout the entire home buying process. If you are ready to start the process, give me a call at 573-746-7211 today! As your
Lake of the Ozarks mortgage lender, I am here to help you with everything from the pre-approval to the closing. I will discuss your options, offer competitive interest rates, and back it up with the first-class service you deserve!
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