Showing posts from August, 2016

5 Myths About Title Insurance

Unlike health or auto insurance, many people don't understand the importance of title insurance. Most of those people that don't feel the importance, feel that way because they don't fully understand what title insurance does, or they have heard some misconception that leads them to believe title insurance isn't really necessary. Keep reading as we debunk several of the common myths revolving around title insurance at the Lake of the Ozarks . Myth #1 - You Can't Choose Which Title Insurance Company To Work With  Probably one of the most common misconceptions people have about title insurance is that they have to go with the company that their mortgage lender chooses. As the buyer of the property, you have the right to research title companies and select the one of your choosing. While it may seem like less of a hassle to go with the preferred title company of your lender, keep in mind that they may not have your best interest in mind. Not all title insurance

5 Rookie Home Buying Mistakes To Avoid

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

Advantages of Title Insurance

"To buy title insurance, or not to buy title insurance?" It shouldn't even be a question! No purchase of real estate at the Lake of the Ozarks will be complete without also purchasing a title insurance policy. Title insurance comes in two primary forms: owner's policies and lender's policies. As their names suggest, owner's policies protect the homeowners and lender's policies protect the mortgage lenders who provide the mortgage loan required to purchase the property. Each type of policy offers distinct benefits. Keep reading to learn more about some of the advantages title insurance offers. 1. Affordable Peace Of Mind Since it is purchased for a one-time premium when you close on your new property, title insurance is one of the most affordable types of insurance available on the market. In spite of its relatively low price, title insurance offers long-lasting protection. The lender's title policy will remain in effect as long as the loan is

Common Real Estate Terms - Explained

Real estate is a complex industry with a unique set of vocabulary and industry terms all its own. If you have not been involved in the real estate scene recently (or even if you have been), you may have trouble interpreting the various terms you come across during the process of buying or selling a home.  Arrowhead Title, Inc. is here to help! Keep reading to find the definitions to some common real estate terms you are likely to encounter as you sell or buy a home at the Lake of the Ozarks . Common Real Estate Terms & Their Definitions Adjustable Rate Mortgage (ARM) This type of mortgage has a set interest rate for a fixed number of years, after which the interest rate will adjust to reflect the current market rates. Amortization Schedule This is a table or document that shows the planned monthly payments for the duration of your mortgage loan. It identifies how much will go towards principal and how much will go towards interest each month so you can understand how