Missouri Loan Guide

No matter where you live, you probably have the same dreams as other families: to get into a home that is your own. With the lower value of so many homes these days, there is no reason that most people can’t qualify for a home purchase, providing they have a credit score that is equal to the task.

Missouri Home Loans

Fixed Rate Mortgages are the most affordable type for most home buyers. The exceptions to that are when you want to take advantage of the low interest rates of an adjustable rate mortgage and then refinance in a few years to lock in lower fixed rates.

Missouri Refinancing and Restructuring

Thousands of people who were caught by their rising mortgage payments can take heart in knowing that there are many different refinance and loan modification plans available. Both type will require you meet a different set of qualifications, but either one will be able to get rid of undependable rates and get your family the security that comes from a fixed rate loan.

Missouri Home Equity Loans

Home equity loans can be the best way to handle some types of bills. Credit card debt may be one of the most common uses of a home equity loan, but they are also handy for adding a new room on the house to account for an growing family. Once the little ones have grown up and are ready to move on to college and the world beyond, home equity loans are a well suited to pay for college tuition or even to help your children get into a home of their own.

Missouri FHA Loans

If your family is not one of the lucky ones that have capital available for down payments and closing costs, an FHA loan may be able to help. Some FHA programs can make as much as $6,000 or more available to help pay that large down payment or other closing costs. Before you decide that buying a home is out of your reach, take a look at the benefits available to you through the Federal Housing Administration.

Missouri Mortgage Tips

Beware of unsolicited companies who offer you mortgage and refinancing offers that sound too good to be true because that may be exactly what they are. One of the most common tricks these unscrupulous lenders attempt is to offer you a no closing cost loan that turns out to have those costs added back into the loan itself and result in paying thousands of dollars more over the course of the loan through monthly interest charges.

Missouri Helpful Links

HUD Missouri
Missouri Housing Development Commission
Missouri Homebuyer’s Assistance Program

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