Arrowhead Title, Inc.

Title insurance offers financial protection against title problems that might not be found in the public records, are inadvertently missed in the title search process or that may arise from fraud or forgery. The title policy required by a lender covers only the lender’s interest in a property. That's why it's strongly suggested that every buyer purchase title insurance that covers their interest as well. The homeowner’s policy, purchased at closing, provides coverage for the homeowner. If your home’s title is challenged, based on a situation covered in the policy, the title insurer will either perfect (establish a valid title) or pay for defending against the challenge and will either make perfect the title or cover the costs in the case of a valid claim. Types of Owner's Policies There are two types of Owner’s title insurance policies certified by the American Land Title Association® (ALTA®) – the Owner’s policy and the Homeowner’s policy. The Owner’s policy prot...

If you've ever bought a home, you know that the process requires the full (and careful) integration of many moving parts. The sellers, buyers, lenders, and real estate agents must work together to bring the transaction to a successful resolution. However, these important parties aren't the only ones who will be closely involved in the transaction process. While you as a buyer or seller may not realize it, a  Lake of the Ozarks title company  will also play a crucial role. What Does The Title Company Do? While first-time buyers generally do not understand the role a title company plays as well as they understand lenders' or realtors' responsibilities, that does not mean a title company's role is any less important. Here is a quick look at the types of responsibilities a title company will fulfill during the closing process: Ensuring validity of the title Issuing the title insurance policies Serving as the escrow agent Essentially, it is up to the title c...

Buying your first home is a big step. Homeownership is a substantial commitment, and it's important to make sure you are truly ready before taking the plunge. Whether you are buying a house with a partner or flying solo, there are certain signs that can indicate when you are ready to  buy a house at the Lake of the Ozarks . Here is a quick look at a few of them. You Are Weighing The Costs Of Renting Versus Buying When you were first starting out, renting was likely the obvious solution. Buying a home seemed completely unfeasible financially - and even if you could have afforded it, you probably wouldn't have wanted to since you weren't ready to be tied to one place. At a certain point, however, the balance will start to tip. You'll find yourself imagining having a place of your own and beginning to research the true costs of buying a home in your area. While the desire to own a home in and of itself is not enough to indicate whether you are financially ready to ...

Whether you are buying your first home or selling your current house and buying a new one, there will likely be a seemingly endless list of tasks and copious amounts of paperwork along the way. If you approach the process correctly, however, it doesn't have to be challenging. Our  Lake of the Ozarks title company  is here to help. If you are considering buying a new home in 2018, you can set yourself up for success by adopting the following New Year's Resolutions. 1. I Resolve To Not Open Any New Lines Of Credit When you are applying for a mortgage loan, your lender will carefully evaluate all aspects of your financial situation.  Having a stable credit history is important, as it demonstrates to lenders that you are reliable and trustworthy. If you are preparing for the possibility of taking out a mortgage loan, you'll want to keep your finances solid and constant. This is especially critical once you begin applying for a mortgage loan, as opening n ew lines of cred...

Buying a home requires the full (and careful) integration of many moving parts. The sellers, buyers, lenders, and real estate agents must work together to bring the transaction to a successful resolution. However, these important parties aren't the only ones who will be closely involved in the transaction process. A Lake of the Ozarks title company will also play a crucial role. What Does The Title Company Do? While first-time buyers generally do not understand the role a title company plays as well as they understand lenders' or realtors' responsibilities, that does not mean a title company's role is any less important. Here is a quick look at the types of responsibilities a title company will fulfill during the closing process: Ensuring validity of the title Issuing the title insurance policies Serving as the escrow agent Essentially, it is up to the title company to ensure that the title is real, valid, and eligible for sale, that the buyers' a...

It doesn't matter how old you are - buying your first home is a big step. Homeownership is a substantial commitment, and it's important to make sure you are truly ready before taking the plunge. Whether you are buying a house with a partner or flying solo, there are certain signs that can indicate when you are ready to buy a house at the Lake of the Ozarks . Here is a quick look at a few of them. 1. You Plan On Staying Local For Several Years Some people are surprised to learn that owning a house is actually cheaper than renting one. While this is generally true, it typically only applies if you plan to stay in your home for a minimum of 3-5 years. If you plan to only live in your home for 1-2 years, renting may be a better option for the time being. There are several upfront costs associate with buying a house (inspection, appraisal, closing costs, down payment, etc), so it takes a few years for these extra expenses to be balanced out by the proportionally lower monthly ...

Slowly but surely, America is climbing out of the worst economic downturn we've seen since the Great Depression. Almost ten years after the housing crash in 2008, we're seeing signs of a brighter future on the economic horizon. One of the most promising signs is that the Federal Reserve finally delivered the promised interest rate hike at the end of 2016. This is definitely good news for our economy overall, but it can have a significant impact on prospective homebuyers. Arrowhead Title, Inc. is here to help you understand how these rising interest rates may impact homebuyers at the Lake. The Federal Reserve's Key Interest Rate The Federal Reserve has only raised the key interest rate twice since 2006. The first hike occurred in December of 2015. They projected rates to rise four more times throughout 2016, but the next increase did not occur until just last month (December of 2016).  During the housing crash of 2008, the Federal Reserve slashed the key interest r...

Whether it's your first, second, or even third home, the decision to take the plunge and buy a new home is usually a little intimidating. As the homeowner, you will be responsible for keeping up with the mortgage payments and all the other expenses associated with running a household (insurance, utilities, taxes, etc). However, when you time your home purchase correctly, balancing all of these financial responsibilities becomes more manageable. Keep reading to learn why this winter might be the perfect time for you to buy a house at the Lake of the Ozarks . 1. Interest Rates Are Rising (But Still Low) Interest rates have a huge impact on the affordability of mortgage loans. According to a survey by Freddie Mac , the average interest rate for a 30-year fixed rate mortgage is currently 4.13%. This time last year, the average rate was 3.95%. Rates are beginning to rise more swiftly, however; the average rate was 4.08% just one week ago. While these numbers are still remarkably lo...

For most people, buying a home goes hand-in-hand with taking out a mortgage loan; you can't have one without the other. As with most financial industries, the mortgage industry is heavily regulated to ensure consumer protection. Last year (on August 1, 2015), a federal regulation was introduced that significantly changed the mortgage loan application and approval process. Today, Arrowhead Title, Inc. is here to examine some of the effects of this new ruling. What is TRID? After the housing crash in 2008/2009, the Consumer Financial Protection Bureau (CFPB) was created to protect homebuyers from suffering another comparable financial crisis. The introduction of TRID was part of these efforts. Sometimes referred to as the TILA-RESPA Rule, "TRID" is an abbreviation for TILA-RESPA Integrated Disclosure. "TILA" stands for "Truth In Lending Act," and "RESPA" stands for "Real Estate Settlement Procedures Act."  How Does TRID Im...

Buying your first home is a big undertaking, and not something that should be attempted without the guidance of multiple experienced professionals on your side. In order to ensure your home buying experience is a success, you'll likely need the help of a real estate agent, title insurance agent , mortgage lender, and several other professionals (such as an inspector and an appraiser). Arrowhead Title, Inc. is here to help ensure the process goes smoothly by making you aware of these common first-time homebuyer mistakes.  1. Searching For A Home Before Shopping Mortgage Loans Most first-time homebuyers (especially millennial buyers) begin the process by searching for available homes online. Once they find a few that pique their interest, they'll probably contact a real estate agent to schedule a showing. However, there is a crucially important step that should be taken long before the first home showing: prequalification (or, better yet, pre-approval) for a mortgage l...

Buying a home is a big undertaking, and it's important to go into the process with your eyes open. It can be one of the most rewarding processes you will ever undertake, but it can also become a huge burden if not approached strategically. Arrowhead Title, Inc. is here to help you ensure that you are fully prepared to enter the housing market before taking the plunge. Here is a quick list of important questions to ask your real estate agent as you think about buying a home. Questions To Ask Your Real Estate Agent 1. Do You Have Experience With This Type Of Property? Every home is different, and every property comes with a unique set of challenges. Ask your agent if he has experience buying/selling the type of property you're interested in, such as a foreclosure or a short sale. If your agent has worked with your chosen type of property before, you will be much more likely to avoid any challenges that could arise. 2. Are You The Listing Agent For This Property? Ther...