Thursday, December 12, 2019

Types of Mortgages to Consider - Part 2

There are many different considerations that you will have when purchasing a home at the Lake of the Ozarks. From fixed to adjustable interest rates and even the mortgage terms, these decisions don’t just become easier because you have purchased a home already. Whether this is your first home or vacation home at the Lake of the Ozarks, we have some more details to share about the types of mortgages available. If you haven’t seen part 1, you can check it out here: Types of Mortgages to Consider - Part 1.


Conventional vs. Unconventional Mortgages

Essentially, a conventional loan is a deal between you and your lender that will meet Fannie Mae’s underwriting guidelines. An unconventional loan breaks those guidelines and can include government-insured programs like FHA, VA, or USDA.

Conventional Loans

Pros can show up when you calculate interest rates and fees, your total cost is lower than an unconventional loan. Cons could be that the unconventional loans are backed by the government, so lenders may require a higher down payment on conventional loans. You will also have to pay private mortgage insurance (PMI) if your down payment is less than 20%.

FHA Loans

Pros can include that you can get a mortgage with as little as a 3.5% down payment. However, cons can mean that you are required to pay a mortgage insurance premium (MIP), which is similar to a PMI - except that it must be paid for the life of the loan.

VA Loans

With the Department of Veterans Affairs (VA) loans, it allows military veterans to buy a home with virtually no down payment or mortgage insurance. However, when you purchase a home with zero money down, and things change in the housing market, you may end up owing more than the market value of your home. VA loans also come with a funding fee, which can range anywhere from 00% to 3.3%. This will depend on your military status, down payment amount, and even whether it’s your first time financing a home.

USDA

The pros for a United States Department of Agriculture (USDA) loan program are that it’s managed by the Rural Housing Service (RHS), and is great for people living in rural areas who also show a financial need. This loan can allow many to buy a home with no down payment. Cons include that there are additional fees associated with this loan program and some stricter inspection requirements.


Conforming vs. Non-Conforming Mortgages

Your mortgage will be either a conforming or non-conforming, based on how much money a lender will give you. A conforming loan will meet the standard underwriting guidelines for a specific mortgage program, while a non-conforming loan would exceed the size limits established by lender guidelines.

Conforming Loans

Pros would be that you’ll pay a lower interest rate compared to non-conforming loans. However, the cons can include buying a lower priced home to stay in the conforming loan amount range.

Jumbo Loans (Non-Conforming)

The pros of this type of loan are that they exceed the loan amount limits set by Fannie Mae and Freddie Mac, which means you can get a higher-priced home. However, the cons are that they require excellent credit and larger down payments, and they have higher interest rates than conforming loans.

Reverse Mortgages

With most mortgages, the longer you own your home, the more of your home you own. There is a different mortgage, and that’s a reverse mortgage.

Pros of this type of mortgage are that senior homeowners can supplement their limited income by borrowing against their home equity. They can then receive tax-free, monthly payments or a lump sum from the lender.

Cons for this type of mortgage are that you sell off your equity for cash. With a traditional mortgage, the amount you borrow and have to repay goes down over the life of the loan, but with a reverse mortgage, the amount you actually own goes down as your interest accumulates.

Lake of the Ozarks Home Loan

Team Lasson looks forward to helping you buy the home of your dreams at the Lake. From a primary residence to a vacation home at the Lake of the Ozarks, we have done it all. Now is proving to be an AMAZING time to lock in your interest rate and get your mortgage or refinance finished up. If you have questions about this, we would love to chat with you! Start by visiting our website (www.YourLakeLoan.com) and filling out the application - we look forward to helping you buy the home of your dreams!


For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Tuesday, December 3, 2019

Factors That Influence Interest Rates

Interest rates have been doing some amazing things over the last few months! Team Lasson has been assisting many in securing a home loan at the Lake of the Ozarks, and if you’ve been considering buying a home, there are many reasons why NOW is the time to get started! However, several factors can influence the interest rates above and beyond what is considered “standard.” Here are a few things to keep in mind as you move forward on your hunt for a vacation home at the Lake of the Ozarks.


Credit Score

Your credit score is going to be one of the best indicators of how reliable you will be in paying off your loan. It will take into account your payment history, amounts owed, types and length of credit, and new credit inquiries. A good rule of thumb is that the higher the credit score, the better rate you’ll qualify for.

The Downpayment Amount

The larger the amount you choose to pay upfront on your home will not only decrease the amount of the loan but can also help you get a better interest rate. Mortgage lenders at the Lake of the Ozarks see less of a risk when you're more invested in the property.

The Type of Property

The type of property you're purchasing will also have an effect on the interest rates you're offered. A condominium unit or investment property will sometimes have a higher interest rate than a single family residence or primary/second home will.

The Loan Type & Term

Rates can vary depending on the type of loan that you choose, such as Conventional, FHA, VA, USDA, etc. Also, the term of your loan can impact the rate. While 30-year mortgages are the most typical, choosing a 15-year mortgage could get you a lower rate. This would also lower your overall costs, but you would be making higher monthly payments.

Loan Amount & Home Price

The price of the home minus the amount of your down payment will determine the loan amount or the amount you will need to borrow. Typically, your rate will be higher if you're taking out a particularly small or a particularly high loan.

The Interest Rate Type

There are two basic types of interest rates: fixed and adjustable. Fixed rates never change throughout the life of the loan. Adjustable rates will start at a fixed rate for some time and then can increase or decrease depending on the market. You can typically get a better initial rate on adjustable-rate mortgages, however, you then risk the chance of it increasing significantly over the life of the loan.


Ready to Buy a Home?

Team Lasson is here to help with all of your mortgage needs. From buying a primary residence to a second home at the Lake of the Ozarks, we would consider it an honor to walk through the process with you. Now has proven to be an excellent time to buy a home, so if you’ve had a lakefront home at the Lake of the Ozarks on your bucket list NOW is the time to get started! Visit our website (www.YourLakeLoan.com) to submit your application - we look forward to assisting you!

For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Wednesday, November 27, 2019

Final Days for a Mortgage in 2019

As 2019 comes to a close, it’s time to consider if you want to make any last-minute purchases before the year is up. When looking into investments, buying a vacation home at the Lake of the Ozarks may seem extravagant, but there are some great reasons why this could be a great choice for you. If you enjoy having investment properties or have been thinking about buying a second home at the Lake of the Ozarks, here are a few reasons why you may want to invest before the end of the year!


Low-Interest Rates

This fall brought some awesome interest rates and now is still as good of a time as any to make your investment strictly based on interest rates. You never know when they are going to change, and with as low as they’ve been lately, it could be an unexpected change. Even if rates increase an extra half-point, it can make a big difference in your monthly payments as well as the lifetime cost of your mortgage.

More Inventory, Less Competition

It’s not surprising that real estate sales tend to slow down a bit during the fourth quarter. This can be for many reasons, sometimes people get busy with school and holidays, the inclement weather makes it less appealing to venture out and look and homes, and for many housing markets, it’s just a slower season. This, however, can be great news for you! With fewer people looking for homes, you have more to choose from, and may even find a home faster than you had expected.

Tax Deductions

Buying a home comes with several different types of tax benefits. One of the biggest is being able to deduct the mortgage interest from your taxes, you may also be able to reduce the amount of federal income tax withheld from your income, which could result in a higher paycheck each month. These are things that you can speak with your financial advisor about, but some closing costs and property taxes can also be tax-deductible, as well.

Low Down Payment Options

20% has been considered the magic number when planning a down payment for your mortgage. Anything less and you may end up paying an additional cost in the form of private mortgage insurance (PMI). However, there are now some options for borrowers that qualify, and even with less than 20%, you may come out ahead. Your interest rate may be affected, but you’ll never know until you start the process.


Mortgages at the Lake of the Ozarks

There is still a timeline for getting a mortgage started and finished, so if you need to get it finalized by the end of the year, is time to get started! Visit our website at www.yourlakeloan.com to fill about your pre-approval information, and be sure to get in contact with us about your timeline. We look forward to working with you, and helping you purchase the vacation home of your dreams!

For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Monday, November 18, 2019

Thanksgiving Events at the Lake of the Ozarks

The Lake area is a wonderful place to live all year long because there is always something to do down here! As we approach the Thanksgiving holiday, we wanted to let you know about Thanksgiving events that are happening, and even a few fun things to do after your dinner has settled and you want to get out of the house!


Thanksgiving Dinners at the Lake of the Ozarks

Thanksgiving Brunch at Inn at Grand Glaize
Nov 28, 2019
Inn at Grand Glaize
5142 Osage Beach Pkwy
Osage Beach MO 65065
Phone: 573-348-4731
Hours of Operation: 11 am

Thanksgiving Traditional Buffet

Regalia Thanksgiving Dinner
Nov 28, 2019
Regalia Hotel
250 Racquet Club Drive
Lake Ozark MO 65049
Phone: 573-723-3000 ext. 5006
Hours of Operation: 11 am to 3 pm

Traditional Buffet-Style Thanksgiving Dinner.

Thanksgiving Menu at The Trophy Room
Nov 28, 2019
The Trophy Room at Old Kinderhook
56 Club Place Road
Camdenton MO 65020
Phone: 573-317-4314
Hours of Operation: 11 am - 4 pm

Old Kinderhook offers an amazing Thanksgiving Menu.

Thanksgiving Feast at Lodge of Four Seasons 
Nov 28, 2019
The Lodge of Four Seasons
315 Four Seasons Drive
Lake Ozark MO 65049
Phone: 573-365-3000
Hours of Operation: 11:00 am to 3:00 pm

The Lodge of Four Seasons Thanksgiving Feast

Make reservations at OpenTable.com or call 573-365-8509.

Thanksgiving Buffet at H. Toad's
Nov 28, 2019
H. Toad's Bar & Grill at Camden on the Lake
2359 Bittersweet Rd
Lake Ozark MO 65049
Phone: 573-365-5620
Hours of Operation: 12 pm to 4 pm

Holiday Lights & Events at the Lake of the Ozarks

Looking for something fun to do after Thanksgiving events have settled down? The Lake area will be lighting up over the Thanksgiving weekend, and it is going to be a great time to get out and enjoy the festivities!

Enchanted Village of Lights
Nov. 22, 2019 - Jan 2, 2020
Laurie Fairgrounds
269 Fairgrounds Road, Laurie, MO
573-374-8776
Open Nightly 5 pm to 9 pm (10 pm weekends)

St. Patrick's Festival of Lights
Nov 28, 2019 - Jan 1, 2020
Shrine of St. Patrick/ Mother's Shrine
176 Marian Drive, Laurie, MO
573-374-7855
Open Nightly 5 pm to 10 pm

Versailles Unity Circle of Lights
Nov 29, 2019 - Jan 2, 2020
Versailles City Park
Jct Hwy 5 and 52, Versailles, MO
573-378-4634
Open nightly from dusk until midnight

Osage Beach Holiday Lights
Nov 30 - Dec 29, 2019
Osage Beach City Park & Osage Beach Pkwy
950 Hatchery Rd, Osage Beach, MO
573-302-2000
Open nightly

Christmas Village at Old Kinderhook
Nov 29, 2019 - Dec 21, 2019
The Ice at Old Kinderhook
678 Old Kinderhook Dr.
Camdenton Missouri 65020
Phone: 573-317-3500


The Lake Lifestyle at Its Finest!

If you do not live at the Lake of the Ozarks, but you have always wanted to, now is the time to get started! From primary residents to purchasing a vacation property at the Lake of the Ozarks, Team Lasson has helped so many people secure their dream home with home loans.

All of us at Team Lasson hope that you have a wonderful Thanksgiving season filled with friends, family and a LOT of food! If you come down to visit relatives and realize how much you love the area, let us know, we would love to help you get started!

For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Tuesday, November 12, 2019

Types of Mortgages to Consider - Part 1

Whether you’re purchasing your first home or you have several scattered around in your favorite locations - purchasing a house will always be a big decision. For a large number of the population, getting a mortgage is the fastest and easiest way to complete your purchase, and that is where Team Lasson comes into play! Because there are so many different components to a mortgage, from the interest rate to the terms of the loan, it’s important to have a mortgage lender at the Lake of the Ozarks who you can trust. Here are a few things you may want to keep in mind as you work through the mortgage process, and how we can help!


Fixed vs. Adjustable Interest Rates

This will be one of the first major decisions you make in your mortgage process. Knowing how your interest rate is treated is going to make a difference in the long run, so you want to make sure you understand before moving forward. Here are a few pros and cons to the different types:

Fixed-Rate Mortgages
The pros of this type of mortgage are that the interest rate stays the same for the entire time it takes you to pay off the loan. This means that the size of your monthly payment stays the same, and it’s easier for budget planning. The cons are that should mortgage rates lower at any time during the term of your mortgage, your rate is going to stay the same throughout the term.

Adjustable-Rate Mortgages (ARMs)
Pros can include that ARMs offer a lower interest rate (which can mean a lower monthly payment) for the first few years. However, the cons are that while the low-interest rate at the beginning is appealing, there is a risk of higher interest rates down the road.

Mortgage Terms

Your mortgage term refers to the length of the loan in years. This is the agreement you make with your lender on the maximum amount of time it will take you to pay off the loan in full.

15-Year Mortgages
Pros are that a 15-year term can keep you on track to pay off your home quickly, and it can often have a lower interest rate and even cost less in total interest compared to other loan options. Cons are that this term comes with a higher monthly payment compared to options with a longer term.

30-Year Mortgages
A pro is that you will have lower monthly payments with a 30-year term, compared to a 15-year term. A con is that you could end up with a higher interest rate, and could end up paying more in interest than you would have with a shorter term.


Securing Your Mortgage at the Lake of the Ozarks

Team Lasson looks forward to helping you buy the home of your dreams at the Lake. From a primary residence to a vacation home at the Lake of the Ozarks, we have done it all. Now is proving to be an AMAZING time to lock in your interest rate and get your mortgage or refinance finished up. If you have questions about this, we would love to chat with you! Start by visiting our website (www.YourLakeLoan.com) and filling out the application - we look forward to helping you buy the home of your dreams!

For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Wednesday, November 6, 2019

Fast Tips for Hosting Thanksgiving at Your Vacation Home

The season of thankfulness is upon us, and with that, gathering with family and friends for food and friendship comes with it. One fun way to celebrate the Thanksgiving holiday is to host, and it can be even MORE fun to host it at your vacation home at the Lake of the Ozarks! Treating your family to a fun getaway can be a fun new tradition, so we have a few tips to help make celebrating Thanksgiving in your vacation home even easier!


Check-In With Your Guests

Chances are, you will all most likely be traveling to get to your vacation home at the Lake of the Ozarks. Take some time over the next few days to check in with your friends or family and see if they will need anything while staying with you. Some family members may need more space because they will have multiple playpens or kids. Others may prefer to have a room near the bathroom - or alternately one of the master suites if your home has two. You may not be able to accommodate everyone, but checking can help avoid some last-minute emergencies.

Stock the Kitchen

The Thanksgiving holiday is ALL about the kitchen - and the living room for football, but primarily the kitchen. Before you head down for the weekend, take some time to evaluate what you already have in your kitchen at the Lake. Here are a few things you will want to make sure are stocked up for the holiday:

  • Wine glasses
  • Pie tins
  • Roasting pans
  • Large pots & pans
  • Baking sheets & dishes
  • Whisks
  • Ladles
  • Spatulas
  • Sharp knives
  • Serving dishes
  • Turkey baster
  • Meat thermometer


You will also want to stock the kitchen with food items. You can stock up on these when you get down here, but you will want to make sure you have plenty of butter, milk, flour, spices, and cooking oil on hand for this holiday!

Do Not Forget Toiletries!

There is nothing worse than realizing that you ran out of toilet paper with a house full of holiday guests! Stock up on the basics like toilet paper, hand soap, paper towels, kitchen cleaning supplies, and even laundry soap. You may even want to add some extras to the bathrooms just in case someone forgot something. Basics like toothpaste, shampoo, conditioner, body wash, face wipes, cotton balls, and cotton swabs.

Plan Some Activities!

Everyone is not going to want to do the same things with their holidays, but there is SOMETHING for everyone to do around here! Some of your guests may enjoy the local events. You can refer to FunLake.com for a full calendar of fun at the Lake of the Ozarks! Some guests may enjoy crashing in front of the television and watching the football game - serve up some leftovers and leave them to it! Others may want to do some sightseeing in the area. You can put together a list of must-see places at the Lake based on what you enjoy doing.

Everyone can enjoy their holiday weekend just the way they like it. From horseback riding, pumpkin picking, Black Friday shopping, or hiking, there is something for everyone.


Vacationing at the Lake of the Ozarks! 

If you do not have a vacation home at the Lake of the Ozarks, now is still a great time to make your purchase! The interest rates have been excellent for the last few months, but we cannot guarantee how long they will stay this way! If you are ready to start your home loan process at the Lake of the Ozarks, visit our website. We would love to assist you with your purchase, so head over to our website at www.yourlakeloan.com , fill out the online application and let’s get started.

Whether you are planning your Thanksgiving holiday season at your vacation home or somewhere else, we hope that you and your family have a wonderful and safe holiday weekend!

For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Thursday, October 31, 2019

Five Ways to Enjoy the Fall Colors

As the Autumn colors begin to spread across the horizons, now is a great time to get out there and enjoy nature. From the scenic overlooks to hikes where you are up close in nature, the Lake of the Ozarks offers many beautiful ways to appreciate the colors, soak in the season, and enjoy every last drop of Fall. Here are five ways Team Lasson thinks you will enjoy the colors this year.


Scenic Overlooks

Stop by the Ameren scenic overlook, located just off the Bagnell Dam on Upper Power Plant Road in the Lake Ozark. This is a beautifully scenic spot and it offers a unique view of Bagnell Dam, the Lake of the Ozarks, and those gorgeous colors. Wilmore Lodge is also just down the road and they offer a breathtaking panoramic view of the lake from the back deck of their building.

From the Sky 

If you are looking for a new perspective on the Fall color sightings, you can book an aerial tour! There are a few options around the Lake, some by helicopter and others by airplane. Enjoy the narrated photography tours and choose from several different tour options for scenic views and lake area highlights.

State Parks

At the Lake of the Ozarks, we boast of two beautiful State Parks. About four miles south of Camdenton, you can visit Ha Ha Tonka State Park and enjoy the Fall colors from several different trails, overlooks, and even from the castle ruins. There are 14 walking trails throughout the park where you can also appreciate other aspects of nature like the geological formations, caverns, springs, and sinkholes - not to mention woodland areas and glades. The Lake of the Ozarks State Park in Osage Beach covers 17,626 acres and has 12 hiking trails ranging from 0.8 of a mile to 13.5 miles. There are also trails for mountain bikers and equestrians, which can offer an adventurous view of the colors. Whether you’re looking for a leisurely stroll or a vigorous hike, both state parks have a lot to offer.

On a Boat

The views by water can be a truly breathtaking way to enjoy those Fall colors. If you haven’t winterized your boat, now is a great time to take it out for one last spin before getting it ready for Winter. You could take your boat down the Aquatic trail for a unique view, or you can coast the main channel and explore areas you haven’t seen before. If you don’t own a boat at the Lake, there are other cruise services available with narrated cruises and an emphasis on the history of the Lake.


Relaxing On Your Deck

Finally, one of the best ways to enjoy the Fall colors - from the porch or deck of your home. Even if you don’t have a lakefront home, there’s no view like the scenery at your own Lake of the Ozarks home. If you have a vacation home at the Lake of the Ozarks, now is a great time to come down, enjoy the season, and then make sure that your home is ready for the winter. If you don’t have a home at the Lake of the Ozarks yet, that’s where Team Lasson can help.

Now is an incredible time to make a real estate investment, as we’re seeing some amazing mortgage rates. Visit our website to submit your application and get the process started. We look forward to helping you secure your mortgage at the Lake of the Ozarks, and maybe even getting it all wrapped up before the end of the year for some tax benefits! Enjoy the season, and don’t forget to share your Fall photos!

For Lake area news, resources and tips on financial services, please 



Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211





**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.