Showing posts from September, 2015

A Step-By-Step Guide To The Mortgage Loan Approval Process

If you haven't figured it out already, applying for a mortgage loan will be a huge aspect of buying a house at the Lake of the Ozarks . While this prospect can seem a little daunting at first, it doesn't have to be! Your friends at Arrowhead Title, Inc. are here to help you get a better understanding of how the loan process works. Step 1: Application First and foremost, your lender will have you fill out a loan application. Once he/she has your application, he/she will work with you to obtain all of the pertinent documentation to avoid any unnecessary problems and/or delays. Step 2: Documentation Within twenty-four hours of submitting your application, your lender will request specific documentation from you to verify the information your provided. These documents will include prior tax returns, pay stubs, bank statements, etc. Step 3: Loan Submission Once all of the necessary documentation has been gathered, your lender will submit your application (along with the

Why Do You Need Title Insurance?

Title insurance at the Lake of the Ozarks has some very distinct differences from other types of insurance. Whereas other types of insurance protects against future events (such as hailstorms, floods, or fires), title insurance protects policy holders from loss against hazards and defects already in existence  but currently unknown (such as undisclosed heirs or invalid powers of attorney). Other types of insurance also require monthly premiums for the duration of the policy, whereas title insurance only requires a one-time, upfront premium. Title Search & Examination Is The First Step Insuring a home's title begins with a search of the public land records affecting the property. Your Lake of the Ozarks title professional will examine all pertinent documents to determine whether or not the property is insurable. Examples of these types of documents include: Outstanding Mortgages & Judgments Pending Legal Actions Deeds & Wills Notary Acknowledgments Utili

Reasons To Buy: Wrong vs Right

People buy homes for a multitude of different reasons. While there are a lot of right  reasons to buy your home, there are also some wrong ones. Because buying real estate at the Lake of the Ozarks is a big investment, it's important to make sure you're buying for the reasons that will benefit you for years to come. At our Lake of the Ozarks title company , we handle a lot of different real estate transactions and we watch a lot of new homeowners take the plunge. This week, we thought we'd share some of our observations to help you determine whether or not you're buying for the right reasons. WRONG Reason: "I Need A Place To Live For A Year Or Two." Just because you move to a new area does not necessarily mean you plan to stay there long-term. It's very common for individuals to move to a new place temporarily, especially when they are just starting out in their careers. If you know you only plan to live there for one to two years, buying a house ma

The Origins of Labor Day

We're about to hit the one of the busiest holiday weekends at the Lake of the Ozarks. The school year has already started, but Labor Day is a chance for family and friends of all ages to enjoy one last weekend before summer unofficially draws to an end. This "summer blowout" is how most of us tend to think about Labor Day - barbecues, boating, and summer fun - but how did this American holiday begin? Your friends at Arrowhead Title, Inc. are here to delve into the history of Labor Day with you so we can learn more about this great holiday. Bleak Beginnings The history of Labor Day dates back to the height of the Industrial Revolution in the late 1800s. While this was a highly successful time for America's economy and manufacturing, it was a dismal time for America's workers. Most workers worked twelve-hour shifts, seven days a week, simply to earn a basic living. While some states had restrictions in place, many children (some even as young as five or six