March 30, 2022

When looking for mortgage rates in Columbia, MO, most people want to know about how to get the best rates for their new homes or condos. As home buyers, we all want to find a good deal with favorable financing and with a loan partner we can trust. When looking for a mortgage quote in Columbia, MO home seekers should consider the following list of tips for finding the best financing option.

First, meet with a Mortgage Lender early in the process. It’s important to understand your financial records and credit reports before you start looking for a house. Mortgage quotes are largely calculated based on your current financial standing and past credit history. Therefore, if work needs to be done to repair or improve your finances, it is best to know as soon as possible. A good lender will be able to help suggest ways to improve your financial situation and enhance your application when it comes time to apply for a mortgage quote.

Little things that frequently come up that harm an individual’s credit include:

  • A store credit card that has a past due balance on it
  • A small amount that went to collections
  • Somebody else’s credit incident that has appeared on your credit record

By working with a mortgage lender like The Callaway Bank, you can gain guidance in clearing these things up before you apply for a loan, which can help to avoid a higher interest rate — ultimately saving you money.

Working with a lender months before you need a mortgage is also a great way to set expectations about what you can afford and what different mortgage rates can do to your monthly payment. A lender can run through different scenarios about the lengths of the loan and the kinds of interest rates that can be applied to mortgages.

Another advantage is that you can understand what the current mortgage rates are and how they might fluctuate over the next few months. Using this information to time your purchase can easily change how much you wind up paying.

The Right Mortgage Lender in Columbia, MO

The Callaway Bank is ready to help you with your mortgage quote, and hopefully get you approved to purchase the home you deserve. Our expert lending team works with individuals and families throughout the Columbia area. As your neighbors, we want to continue seeing our community grow and develop — and homeownership is a key piece to the puzzle. We help people secure mortgage quotes every week that help them start the next chapter of their lives.

Contact a Mortgage Lender today to start your mortgage quote journey. As the oldest independent community bank in Missouri, The Callaway Bank combines old-fashioned values like fairness, integrity, honesty, and respect with modern banking products and services. Our customers have been our greatest assets since 1857.

The Callaway Bank is an equal housing lender.

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