Lake of the Ozarks Real Estate

Trying to decide if you're ready to buy a house at the Lake of the Ozarks ? It should come as no surprise that finances are major factor most people in your situation have to consider. Your house is likely the largest purchase you will ever make in your life, and you have to be sure that you are ready! The down payment is often the biggest obstacle that prospective home buyers have to face, so it should come as no surprise that finding out how much they need for a down payment is a top priority for most buyers. Unfortunately, there is no magic answer that indicates how much your down payment will be, as down payments vary according to several different factors and  different types of mortgage loans have different requirements. Here's a quick look at some of these various factors. What Is The Down Payment? First, let's start with a little background info on the down payment. Since the vast majority of people who purchase homes are unable to do so without a loan...

Are you thinking about buying a home, but aren't ready to make the financial commitment yet? Maybe your credit rating isn't quite where you want it to be, or perhaps you don't have the savings to provide a down payment. If either of these situations apply to you, we may have great solution for you: renting to own. What Is The Purpose Of Rent-T o-Own? A rent-to-own agreement is similar to a car lease. Buyers agree to rent a home from the seller for a specified amount of time (generally one to three years). At the end of their lease, the buyers will have the opportunity to buy the home or walk away from the arrangement. Typically, the agreement requires that the buyers pay a little bit more in monthly rent than a regular renter would pay, but that extra money is put towards the purchase of the home at the end of the lease. If the buyer chooses to back out of the agreement and not purchase the home at the end of the lease, the sellers will get to keep the extra mon...

Would you... Purchase a vehicle without taking it for a test drive? Buy an expensive dress or suit without trying it on? Purchase a boat without making sure everything worked? Most of us would answer "no" to every single one of these questions. Most people tend to be fairly cautious with big purchases, and rightly so. When there are so many dollars at stake, it's important to make sure that you know exactly what you're getting and that you know it will work well for its intended purposes. Buying a home at the Lake of the Ozarks is the same way; you should not buy a home without first getting a professional home inspection. The inspection report will give you important insight on the current working conditions of everything in the home. A Home Inspection Will Examine Every Part Of The Home A professional, high-quality home inspection will carefully examine every single part of the home for sale at the Lake of the Ozarks , both interior and exterior. ...

You may not realize it if this is your first time buying a home at the Lake of the Ozarks , but the time of month that you close on your home can have a significant impact on your finances. There is no "right" or "wrong" time of the month to close, but your desired closing date should match your financial needs. Our Lake of the Ozarks real estate agents are here to help you weigh the pros and cons. Reduced Closing Costs If you're looking to save as much money at closing as possible, closing at the end of the month will probably be your best bet. You won't be making your first mortgage payment at closing, but you will be required to pay interest for every day that you own the home. If you close on May 28th, you would only have to pay interest for four days (28th, 29th, 30th, and 31st). If you close in the beginning of the month, on the other hand, you will have to pay several more days' worth of interest.  Closing at the end of the month wi...

You made it! You've spent hours researching properties and local area information, touring homes, and calculating how much you can afford for a monthly payment. You've found a home for sale at the Lake of the Ozarks that you absolutely love, you've negotiated with the sellers to find a price you're both happy with, and you've been approved for your mortgage loan. There's only one last step in front of you now - closing! At closing, you'll meet with your Lake of the Ozarks real estate agent , your mortgage lender, your title company, and possibly the sellers (if you and the sellers are both in the area) to finalize the sale. Here are some tips to keep in your back pocket that will make the closing process that much easier! Make Sure Your Paperwork Is In Order Ahead Of Time As the buyer, putting together all of the paperwork will not be your responsibility - but is a good idea to touch base with your title company, your REALTOR®, and your mortgage...