Lake of the Ozarks Real Estate

You've decided to take the plunge and you are ready to buy a home at the Lake of the Ozarks . Now all that's left to do is find the right home, get a mortgage loan, close on the sale, and move in... right? Well, more or less. Buying a home can be a little more complicated than that, but the process can run smoothly with the guidance of an experienced Lake of the Ozarks real estate agent  and mortgage lender. Today, the team at Gattermeir Davidson Real Estate is here to help you gain some background information on the different types of home loans available and how to decide which one could be right for you. Fixed Rate Mortgages Fixed rate mortgages are exactly what their name implies: they have a fixed interest rate throughout the entire term (typically fifteen, twenty, or thirty years). The benefit to fixed rate mortgages is that you can trust the interest rate to remain consistent the whole time you are paying back your loan - your monthly payment will never incre...

If you haven't looked into the real estate market at the Lake of the Ozarks in several years, you probably think that you still need a 20% down payment to buy a home. Nowadays, however, that simply isn't the case. There are now some loan options that allow you to buy a Lake of the Ozarks home with a 5% down payment - and even a 0% down payment. Yes, you read that correctly.  USDA offers a home loan program that will provide 100% financing. USDA Home Loan Background Information USDA mortgage loans are designed to make home ownership accessible to low- to moderate-income families in rural areas. Luckily for you, the USDA defines "rural" in such a way that most homes in Camden, Miller, and Morgan counties qualify. Depending on your household income, you may be eligible for 100% financing (and lower interest rates) the next time you buy a home at the Lake of the Ozarks . Benefits of a USDA Home Loan USDA home loans allow you to finance 100% of your ho...