Arrowhead Title, Inc.

You've been window shopping homes all winter long online, and are waiting for the right time to make your move. Many homebuyers wait until spring is officially here to begin searching for a new home at the Lake of the Ozarks , which is precisely why you should tackle your home search before spring hits. Here are a couple reasons to consider buying your new home before the spring market arrives. 1. Mortgage Rates Are On The Rise Interest rates recently rose for the first time in several years, and they are expected to continue rising in the near future. Even a small increase can have a significant impact. For example, let's imagine that you take out a fixed rate mortgage loan for $200,000 for a 30-year term. If your interest rate is 3.9%, the total cost of the mortgage will end up being $339,601. If your interest is 4.1%, the total cost of the mortgage will end up being $347,903. An increase of just 0.2% ends up costing you an extra $8,302. Since interest rates are expec...

America is heralded as a land of promise and potential. It is a land where anyone can become "someone," as long as they're willing to put in the dedicated time, energy, and effort required to do so. Owning your own home has long been considered an integral part of the American Dream, and for good reason. Studies repeatedly demonstrate that homeownership is a powerful way to build household wealth. This week, Arrowhead Title, Inc. is here to take a closer look at the evidence and discuss how owning a house at the Lake of the Ozarks may help you boost your family's wealth. Increasing Rent Prices One of the most immediate ways that homeownership helps boost familial wealth is by enabling families to lock in mortgage rates that will remain consistent throughout the duration of the loan (often 15, 20, or 30 years). Conversely, lease agreements typically only last for 1-2 years, at which point a new contract will need to be signed if the tenants wish to remain on...