Lake Ozark Real Estate and Community News

Feb. 20, 2018

Roomy Condo at Spinnaker Point

Unit 314 is a 2 bedroom, 2 bath condo at Spinnaker Point. It is well maintained and in a great community. It comes with a 10X24' boat slip and condominium amenities. See the full listing here.

Posted in 3D Virtual Tours
Feb. 20, 2018

Affordable Townhouse Living at 38 Walnut

This great villa is conveniently located off of Horseshoe Bend at an unbeatable price! You will be hard pressed to find another home with 3 large bedrooms, 2.5 baths and an attached 1-car garage at this price. Check out the full listing here.

 

Posted in 3D Virtual Tours
Dec. 21, 2017

129 Woodcrest Drive Unit 1D, Lake Ozark

Beautiful sunrises from this East facing 2 bedroom condo at Woodcrest. Enjoy your coffee on the covered screened deck just feet away from the Lake of the Ozarks. This unit comes turn-key and is ready for lake fun! For full information on this listing, click here.

Posted in 3D Virtual Tours
Dec. 21, 2017

129 Woodcrest Drive Unit 1D

Beautiful sunrises from this East facing 2 bedroom condo at Woodcrest. Enjoy your coffee on the covered screened deck just feet away from the Lake of the Ozarks. This unit comes turn-key and is ready for lake fun! For full information on this listing, click here.

Posted in Video Home Tours
Dec. 13, 2017

Photo Candle Christmas Gift

 

Are you looking for a great, meaningful gift to give to your loved ones this year? Well, you found it. It is fun, easy and inexpensive to do.

 

Here is what you'll need:

  • Candles
  • Tissue Paper
  • Printer Paper
  • Printer
  • Scissors
  • Tape
  • Wax Paper
  • Hair Dyer or Hot Air Gun

 

Instructions:

  1. Trim a piece of tissue paper.
    • Make it smaller than a piece of printer paper.
  2. Tape the piece of tissue paper that you just trimmed, shiny side down, onto the piece of printer paper.
  3. Put the prepared paper into the printer so that it prints onto the tissue paper.
  4. Choose the photo you would like to be used for the candle.
  5. Print the picture.
  6. Cut the photo.
    • Leave a very small margin around the photo.
    • The photo will be on the light tissue paper.
  7. Now place the photo on the candle.
  8. Put a sheet of wax paper over the photo.
    • Make sure that there are not any air bubbles that exist under the paper.
  9. Get your heat source (hair dryer or hot air gun) and turn it on.
  10. Point the heat source at the area of the photo.
    • The upper layer of candle wax is going to start melting together with the tissue paper. The picture should get darker.

  11. Once the picture gets a coloration which is consistent, then you will want to slowly pull the wax paper off.

  12. Leave the candle alone to set for half an hour.

  13. Your gift is now finished!

Posted in Blogs
Dec. 5, 2017

What Credit Score is Needed to Buy a House?

 

If you’re considering making the leap to homeownership, there’s more to think about than the curb appeal of those homes for sale in the health of your credit score tops the list. To many, a credit score seems like a random trio of numbers determined by a complicated algorithm, but it represents much more to a lender who’s considering whether to approve your mortgage loan. While you may not need a perfect credit score, it’s important to know what you can do to improve your numbers.

A low credit score can indicate you’re a risky borrower, while a high score can significantly upgrade the mortgage terms you’re offered. But even if your score teeters on the edge of dismal, there are steps you can take to speed up the credit repair process and improve your chances of landing a home with manageable loan terms.

Whats the minimum credit score for a mortgage?

The minimum credit score required to receive a loan depends in large part on the type of loan you’re considering. FHA loans have some of the lowest credit score requirements, at 580 with a 3.5% down payment. However, that doesn’t take other applicants out of the running; FHA lenders allow lower scores with a down payment of 10% or more. Veterans Affairs (VA) loans are a bit trickier. While the VA doesn’t have a minimum credit score requirement, VA lenders do—and that number varies by lender. Some lenders require a score of 620, while others might be at 640. The good news? Getting a “no” from one lender doesn’t mean you’re out of luck. For conventional loans, most lenders will look for at least a 620 credit score, according to Chris Hauber, a mortgage loan originator with Hallmark Home Mortgage in Denver, CO. Ideally, however, applicants would need to have a 660 credit score to land a better rate and avoid jumping through additional hoops.

What is a good credit score?

Beyond approval for a mortgage, the range your credit score falls within can drastically change the interest rate you can lock down—and the amount you’ll pay in private mortgage insurance (PMI), if applicable. For instance, the approximate difference in rates for a conventional loan with a 680 credit score versus a 740-plus credit score could be 0.25% to 0.0375%, Hauber says. But the PMI premium in this scenario would double.

“Once you’re over 740, you’re considered to be in the ‘perfect’ range for mortgages,” adds Hauber. “If you put less than 20% down, however, you’ll need PMI. For PMI, the high bracket in terms of credit score is 760-plus—meaning you’ll pay less in monthly premiums with this score or higher.” In simple terms, a credit score below 700 is likely to be considered “fair” in the world of mortgages. The perfect credit score would be 760 or higher unless you’re able to put down 20% and skip the PMI, in which case a score of 740 or more would suffice.

How to improve your credit score

Whether your score is too low to secure a mortgage or you’d rather use available funds to fix your financial situation(instead of putting it toward a larger down payment), there are steps you can take today to start improving your credit score right away. Many credit score problems are the result of a high credit utilization ratio, according to Hauber. (“Credit utilization ratio” refers to debt that is high in comparison to the credit available.) Many experts use the 30% rule of thumb: Charges to your credit card shouldn’t exceed 30% of your available credit limit. It’s important because this factor alone comprises 30% of your credit score. One of the easiest ways to improve your score is to pay down credit card debt, keeping this ratio in mind.

Another huge factor in the health of your credit score is your payment history, or your ability to make on-time payments to your creditors. If you see a recent late payment on your report, one solution is to talk to the creditor and ask for a deletion. While this likely won’t work for a serial late-payer, it could be granted for a one-time offender. If the creditor agrees to the deletion, they will send a letter to the credit bureau requesting that the negative information is removed from your report.

While these fixes normally take a month or two to be reflected in your credit score, your lender can speed up the process by doing a rapid rescore. This requires gathering up pertinent documents to show the changes made—like a new credit card statement or letter of deletion—and using the lender’s credit company to request an updated score from the credit bureaus. This could lead to an updated score in days instead of months, which can make all the difference when you’re trying to get pre-approved for a home loan in a competitive market.

 

-Kayla Albert

Posted in Blogs
Nov. 20, 2017

4 BR, 3 BA Quality Home

Just outside Osage Beach, this spacious home offers a fabulous floor plan with upgrades galore! Back deck provides excellent entertaining space and panoramic views. Click here to see full listing information with current pricing.

Posted in 3D Virtual Tours
Nov. 20, 2017

3 BR, 3 BA Top Floor Condo at The Breakers

Posted in Video Home Tours
Nov. 17, 2017

3 BR, 3 BA Spacious Condo

Posted in Video Home Tours
Nov. 13, 2017

3 BR, 3 BA Spacious Monarch Cove Condo

Posted in 3D Virtual Tours