Many will agree that 2017 has been an interesting year for many reasons. One of our favorite parts of this year is that it is an awesome time to get a mortgage started, whether you are looking for a reverse, VA Home, Conventional 1, FHA, or a reverse mortgage. Our firm has been servicing the Joplin, MO. area since 1993, we also have 30 years of experience in this industry as well.

It’s our passion is to help people get the home loan to their dream house without pulling out all of their hair in the process. We wanted to share a few tips that will help the average Joe obtain a mortgage loan easy peasy.

Most lenders will advise that you should put a 20 percent down payment for your loan but in some select programs you can get set up where you only have to put down 3.5 percent. You can keep some savings in reverse by having reserves which can be non cash assets  that you can have as collateral in emergency liquidation purposes. You can also save more green if you refinance into a 15 year loan, this way you can account for unexpected life events like divorce, and recovering from poor credit. Its also important to be patient while you are waiting for your mortgage underwriting process to finish. This sounds pretty easy but many people fall prey to applying for extra credit on other amenities but this could affect your credit report and score in a negative way.

If you have more questions about how  financial brains tick then  give us a call at 417-782-7800 or come by our office in the Joplin, MO area. We can’t wait to sit down and have a chat with you soon.