Remember to review the type of loan you have because it can be changed to save more money. Many people in traditional mortgages have opportunities to switch to a loan that matches their specific qualifications. Consider, for example, farmers in Missouri can get a Missouri USDA Rural Development Loan. The applicant actually doesn’t have to be a farmer, as long as the location in question is in a rural area. There are other requirements too: there is a maximum income that can be earned by the owner and your income needs to be close to the average income of your neighbors.
There is also the example of veterans living in St. Louis. Current and former military members can get VA loans that are easier to attain than conventional loans. The VA funding fee does not apply if you are disabled while serving. Insurance is not required but there is a credit score stipulation: your credit score must not be lower than 620.
The type of company should be scrutinized as well. A St. Louis mortgage companies lender should have looked into how much you make and how much you can spend on monthly payments. Also, there definitely should have been an appraisal of the home you wanted to buy.