Arrowhead Title, Inc.

To buy or not to buy? That's the question! As you prepare to enter the world of adulthood, one of your first responsibilities will be securing a place to live. Renting may seem like the obvious solution for now, and it may not be a bad one. However, if you rent for too long and don't ever buy a place of your own, you may find yourself stuck in a cycle that is difficult to escape. Arrowhead Title, Inc. is here to help educate you on this dangerous cycle and how you can avoid it. Starting Out When they first start out on their own, most young people choose to rent apartments, townhomes, duplexes, small houses, or condos rather than plunging straight into the world of homeownership. In many cases, renting initially is wise. Most young adults plan to move several times within the first few years of their lives before settling down on a place to call home. Since it usually takes a minimum of three years for the cost of continued rent to outweigh the initial cost of buying ...

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...

You've been thinking about buying a new home at the Lake of the Ozarks , but when exactly is the right time to take the plunge? It can be hard to predict exactly when the right moment is for you, but market trends indicate that if you've been thinking about buying a new home soon, buying before fall may be a smart idea. Our Lake of the Ozarks title company is here to help you explore the possibilities. 1. Less Competition As we move into late summer, the initial craze of buying a home in the summer is wearing off. Many people who planned to buy this summer have already found their chosen properties, and those that haven't may be getting tired of the search and opting for a break. By jumping into the market now, you may be able to find a great home without having to battle such steep competition. 2. Increased Stability For The Kids Even if you stay in the same area, moving to a new home can be hard on young children - especially during the school year. They will ha...

Punxsutawney Phil didn't see his shadow this year, which means that he's predicting an early spring. With the forecast continuously providing tantalizing glimpses of warm spring weather, spring fever is kicking in early for many people. 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 ...