Tuesday, June 2, 2020

The Best Time to Buy a Lake Home

The question that is burning on everyone’s mind, "When is the best time to buy a Lake home?” There are many factors at play when it comes to choosing a time to buy, and they could depend on the market, what is available, and even the interest rates. Let’s take a look at some of these factors to help guide you into the best choice for you and your buying needs.

Things to Remember When Buying During Peak Season

There can be many highlights to purchasing a home during the peak season. For the Lake area, peak season runs from Memorial Day to Labor Day, with a little padding on the ends. One of the most popular reasons for purchasing during the peak season is because there are generally more homes on the market. However, this year is a little different. Not only are there often more to choose from during the peak buying season, but due to current events, the interest rates are fantastic.

There are, of course, a few cons to purchasing a vacation home at Lake of the Ozarks during the busy Summer season. Greater demand can also bring more competition, and more competition can increase the price of a home. Homes also sell a lot faster during the peak season as everyone wants to get a contract on their favorite listing before any others do. You may also find the prices are higher during the peak season because of the higher competition. 

Things to Remember When Buying During the Off-Season

Off-season at Lake of the Ozarks is through the later Fall months into early Spring. Obviously, there is still traffic all through the year as different hobbyists and homeowners enjoy the quiet serenity of the Lake through those months, but it is definitely more toned down. Some of the pros of buying during the off-season are that you can generally get a home with very little competition. Most people are not thinking about buying a vacation home at Lake of the Ozarks during the Winter, so you should not have the same level of bidding wars during this time of the year. Purchasing a Lake home during the Winter also allows you to see what the area looks like when things are slower and more relaxed. Granted, with the holidays happening there is still a lot going on at the Lake, but it is certainly not like busy Summer weekends.

Some downsides to purchasing a vacation home in the Winter can be as simple as not being able to tour the home when scheduled because of weather. Lake levels are also generally lower through the off-season and the wildlife and plants are hibernating, so the environment definitely has a different feel than it does during the hustle-bustle of Summer.

When Do You Want to Buy?

In the end, the best time to buy a vacation home at Lake of the Ozarks comes down to two things.
  • When are you ready to buy?
  • What homes are available?

If you have the money ready, and there are a few homes on the market that look like they could be perfect for you, then NOW is the best time to buy! Team Lasson has been assisting so many homebuyers as they secure their dream vacation homes this Summer. Interest rates have been phenomenal, so if you have been considering the purchase of a vacation home, there is no time like the present. You can visit our website to learn more about us at Lake of the Ozarks or fill out an application to 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






**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, May 27, 2020

Important Mortgage Facts

When purchasing a home, there are many details to be involved in. Whether you’ve never purchased a home or you are re-entering the market again after several years - some of these mortgage facts may come as a surprise to you. Your Lake of the Ozarks Mortgage lender has a few interesting facts that you’ll want to know when you get your next mortgage.


You Can Refinance At Any Point in Your Loan

In some instances, you don’t have to have your loan for a certain period of time before you refinance, which means that when you feel like it’s the best time - you can do it! You will want to do the math and make sure that you will be coming out ahead by the time it’s all over. We have many clients ready to refinance right now because the rates are fantastic. If you are considering refinancing your home, the goal is to make sure that it will lower your monthly mortgage payment and help you take advantage of lower interest rates. Refinancing certainly has some benefits, so if you’ve been considering it, we would be glad to help you make some final decisions.

Interest Rates Change Quickly

One of the first questions a soon-to-be homeowner will ask is “what’s the interest rate?” This answer is virtually impossible to answer straight away, but with a little bit of research, we can help you learn what your interest rate will be. An interest rate is figured based on your financial situation, but interest rates are also ever-fluctuating, similar to stocks, bonds, and other financial investments.

Better Credit = Better Deal

It shouldn’t come to a surprise to you, but the better your credit, the more options you have available to you. In fact, the better your credit, the better your chances are for not only getting approved for a mortgage loan at Lake of the Ozarks but also getting a better rate. There are programs out there that can help with not-so-great credit, but if you want a great deal, you can invest the time and effort it takes now to help improve your credit.

A Large Down Payment Isn’t Required (But It Is Helpful!)

It’s a common thought that you need to have 20% to put toward a down payment - but this isn’t always the case. A large down payment is still beneficial if you have it, but if you don’t, there are a variety of home loan options that will allow you to put down as little as $0.00. You can fill out the application on our website and we can discuss the different options available for you and will provide a pre-approval, should you qualify!



If you're considering a home purchase at Lake of the Ozarks, give us a call at 573-746-7211. As your mortgage professional at Lake of the Ozarks, we can discuss your options, offer competitive rates, and back it up with the first-class service you deserve!

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, May 20, 2020

Finding the Best Location For a Second Home at Lake Of The Ozarks

Location, location, location - this is the big topic that everyone thinks about when purchasing a vacation home at Lake of the Ozarks. Which side of the Lake do you want to live on? What types of amenities do you want close by? What type of home do you want? These are just a few questions that a real estate agent will be able to guide you through as you start your search for the best vacation home in Missouri. If you are just at the beginning of your search, you may want to know about the communities where you can buy a home - so we have just that for you. Here are just a few of the amazing places you can live when you purchase a vacation home at Lake of the Ozarks.


The Village of the Four Seasons

If you are looking for a place to buy a home that is close to all of the amenities and has a vast array of property styles, this is it. With lake views, lake access, and even exclusive amenities, you will love The Village of the Four Seasons community and Team Lasson would be honored to assist you in getting pre-approved. Here are just a few of the benefits to choosing The Village of the Four Seasons:

  • Pools
  • Playgrounds
  • Fitness Center
  • Tennis Courts
  • Interior Lakes
  • Community Center
  • Campground
  • Boat Storage
  • Boat Ramps
  • Basketball
  • Bocce Ball


Old Kinderhook

If you are interested in purchasing a home in Camdenton, MO, the Old Kinderhook community is an amazing choice. The combination of luxury living with different types of homes, cottages, patio homes, lakefront condominiums, and even estate homes makes it easy to find anything you could dream of. Here are a few things available at Old Kinderhook to make your stay even better:

  • Golf
  • Spa
  • Boating
  • Outdoor Ice Skating Rink
  • The Sand, and more


Porto Cima

Porto Cima was designed to be one of the finest golf and boat communities in the Midwest. The subtle Mediterranean theme combined with the special privileges that are only available when you own a home in Porto Cima makes the experience superb. In addition, if you are looking for access to the best golf courses at Lake of the Ozarks, this is just one of the perks. Here are a few other things you get to enjoy when you live inside the limits of Porto Cima:

  • Golf Shop
  • Restaurant
  • Member dining and the 19th Hole Lounge
  • Exercise facilities
  • Outdoor dining overlooking Hole #18 and Lake of the Ozarks
  • Banquet facility
  • Private events facility
  • Ladies and men’s locker rooms, each featuring its own fitness area


Villages at Shawnee Bend

This community is situated on the southern shores of Shawnee Bend and it offers an incredible combination of privacy and seclusion. If you are looking for a home in one of the premier luxury home development areas, this is for you. Not only will you enjoy the privacy that a home in the Villages at Shawnee Bend can provide, but you will also have easy access to the Lake area activities. Here are a few other amenities that are available:

  • Large, naturally wooded homesite choices
  • Ten miles of unspoiled shoreline
  • Championship tennis courts
  • Community pool & clubhouse
  • Community areas and natural habitat land reserves
  • Park & playground areas
  • Community marina


Now Is The Time to Invest in a New Property

If you have been waiting for just the right moment to buy a vacation home at Lake of the Ozark, this is the time. We are seeing the most incredible rates for our customers right now, and we want you to be the next. Wait no longer and get your application submitted on our website. There is still time to lock in the rates, and we look forward to assisting you with your Missouri Mortgage.

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, May 13, 2020

5 Things to Know About Mortgage Insurance

When you are purchasing a new home, one aspect to prepare for is mortgage insurance. Mortgage insurance can be a huge asset to homebuyers, as it can allow them to purchase a home without having to put the full 20% down. Here are a few things you will want to know about mortgage insurance as you go through the process of purchasing your next vacation home at the Lake of the Ozarks.


What is PMI (Private Mortgage Insurance)?

Generally, if your mortgage down payment is less than 20% you will be required to carry mortgage insurance. This isn’t to be confused with homeowner's insurance, as they are two separate points of coverage protecting from two different events. The basis of it is that if a borrower were to stop payments on their mortgage, the insurance company would make sure that the lender is paid.

Will You Need Mortgage Insurance?

If you are able to pay the full 20% down, you will not need mortgage insurance. One interesting aspect is that if you are required to purchase mortgage insurance when you first get your loan, you can often request to cancel it after a certain period of time, usually when your loan reaches a point that you have 20% equity in the property.

What Types of Mortgage Insurance Are Available?

There are commonly two types of mortgage insurance available, private and public. If you get private mortgage insurance, it means you have a conventional loan and that the insurance is obtained through a PMI company. If you have public mortgage insurance, it means that your insurance is bought from the government and is usually paired with a government loan, such as FHA. The mortgage insurance that you will be required to obtain will depend on the type of loan that you are choosing, but we can help you with this as we progress through your loan process.

How Long Do I Have to Keep the PMI?

As a general rule, you usually pay the insurance premiums until your loan-to-value (LTV) ratio hits 80%. The LTV is essentially the amount of money that you borrowed and then divided by the value of the property you bought. You can often cancel the mortgage insurance policy when you have 20% of the home’s equity built up!

How Much Does PMI Cost?

The premiums for a conventional loan can vary, but a good rule of thumb is that the lower your down payment, and/or the lower your credit score, the higher your premium will be. Generally, the premiums can range from $30-$70 per month for every $100,000 borrowed. However, on FHA loans, there are some additional fees. There is a UFMIP (up front mortgage insurance premium) as well as an annual premium that will be collected monthly. For VA loans, you will have an upfront fee, but no annual or monthly premiums, unless you are exempt from the funding fee.


It's a Great Time to Buy

If you have further questions about this, we invite you to fill out the application for a loan on our website (www.YourLakeLoan.com), and we can talk with you further about the details that are specific to you! We look forward to discussing your options when it comes to your financing needs, and we’re committed to working with you every step of the way.

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, May 6, 2020

FAQs About 2nd Home Mortgages

Buying a second home can feel a lot like buying a first, but there are certainly some new questions that may come up during the process. This is a wonderful time to purchase a home at Lake of the Ozarks, and if you have been considering this next financial step, we want to help answer your questions. Here are a few frequently asked questions that come up during the mortgage process, but more specifically when buying a second home.


Q: Can I Handle the Financial Responsibility?

A: This is something that you will have to consider carefully. Not only will you be taking on the additional mortgage, but you will also be signing up for a second homeowner’s insurance policy, property taxes, additional utilities, and maintenance. Another aspect that is unique to second homes is that they do not qualify for government-backed mortgages. If you are curious about how a second home will impact your finances, be sure to fill out the application on our website (www.YourLakeLoan.com) and we can help you take a look.

Q: Why Do I Want to Purchase a Second Home?

A: This may seem like it has a simple answer, but for many second homeowners, it could be much more involved. For some homeowners, a second home is going to be a weekend getaway where they can enjoy the quiet peacefulness of the Lake, for others, it is going to be an investment property where they can hopefully enjoy it a few times during the busy season, but mostly rent it out. Knowing how you want to use this property from the start will affect many different choices down the road, from the type of mortgage you choose to the insurance you select.

Q: Are Interest Rates Higher for an Investment Property vs. a Vacation Home?

A: They can be. When a buyer is purchasing a home to be their vacation property at Lake of the Ozarks, for example, it is generally far less risky than for an investment property. If someone is planning to purchase a condo or a lakefront home and will be relying on renters and vacationers to assist with paying for the mortgage, it can often be seen as a risk. This does not mean that you cannot get good rates, though! If you are interested in getting a mortgage on an investment property, fill out the application on our website and we can talk about the details.

Q: What are the most popular ways to purchase a second home property?

A: There are several ways to make this happen. A common strategy is to do a cash-out refinance on your primary home to get the proceeds to use for a down payment on the new purchase or to pay cash for it, if there is enough equity in your primary home. A second way is to get a HELOC (home equity line of credit on your current real estate. A third way is to get a conventional loan on the second home. All three options are things we can help with, and we can show you all the options to help you decide which one is right for you.


Ready to Buy Your Dream Home?

The first step is to fill out the application on our website (www.YourLakeLoan.com). After you have completed that process, we can discuss which options are better suited to your needs, and help you choose the right financing options. At Team Lasson, we are so excited to help you make your dreams a reality, and we look forward to assisting you in purchasing a home at Lake of the Ozarks. Visit our website to learn more about our team, as well as to 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.

Wednesday, April 29, 2020

Four Reasons to Buy a Home at the Lake of the Ozarks

We love our Lake community, now more than ever. It is a wonderful place to enjoy a Summer vacation and an even better place to settle down and start a life. If you have been considering buying a home at Lake of the Ozarks, we would love to be the first to say “DO IT!” If you are still on the fence, as your local mortgage lenders at Lake of the Ozarks, we feel qualified to share a few reasons why you will love having a home here - because we do!


1. Location, Location, Location!

One thing that makes the Lake so unique is that it is so centrally located. The Lake is close enough to easily make the trip in a morning or afternoon for many people that live in or around Missouri, but still far enough away to feel like a true getaway. Lake of the Ozarks is located in the center of the big city triangle where it is easy to get to and even easier to enjoy.

2. A Variety of Activities

You can find just about anything at the Lake, from concerts and live music to quiet picnic locations and relaxing lakefront sunrises. Whether you are a fun-loving extrovert who wants vacation to be the life of the party or a quiet introvert who uses this time to get close to nature, it is here! Owning a lakefront home at Lake of the Ozarks provides you with an easy vacation destination in Missouri, and you will look forward to coming back on weekends or for extended vacations. Hiking, biking, golfing, fishing, hunting, bar hopping, boating, dancing, shopping, dining, or reclining - it is all happening at Lake of the Ozarks.

3. Every Season Has Something to Offer

While the highlight of the Lake is the Summer season, there are aspects to appreciate about every season at Lake of the Ozarks. When you own a home at Lake of the Ozarks, it makes it so much easier to come down regularly, and then you really get to appreciate what the other seasons have to offer. Summer is obviously high energy, exciting, busy, and filled with life and laughter. However, Fall has a different sort of appeal as the changing leaves are breathtaking, and fishermen and golfers tend to take advantage of the gorgeous weather. Winter is definitely a quieter season, but there are so many fun events and ways to get involved with the community that you may find you enjoy this slow-paced and enjoyable season more than you may have expected. Obviously, Spring is the preface to Summer, but it also has its own appeal. Leaves are popping, flowers are blooming, and local activities are kicking off. The weather is mild, and there are many Springtime events to be enjoyed.

4. A Relaxing Retreat

While the activities, dining options, and events can be a huge draw, there is still one other - the quiet getaway in your very own vacation home at Lake of the Ozarks. With so many different home styles and locations on the market, you are sure to find the home of your dreams at the Lake. One of the most refreshing and enjoyable moments can be waking up on a bright and breezy morning, fixing a delicious breakfast, and enjoying it from the comfort and privacy of your very own lakefront home.



If you are considering purchasing a second home at Lake of the Ozarks, this is a wonderful time to do it. If you are not sure whether it is the right financial step for you right now or are curious about what types of rates you can get, we invite you to fill out at application on our website (www.YourLakeLoan.com). We can run some quick numbers and give you pre-approval to get you moving in the right direction. Make 2020 memorable because you have purchased a dream vacation home at Lake of the Ozarks!

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, April 22, 2020

A Look at the Home Buying Process Part 2

If you will be buying a new property soon, it can be helpful to refresh yourself on the buying process. As your mortgage lenders at Lake of the Ozarks, we look forward to being here with you from beginning to end as you buy a new home. Here are a few things you can expect through the process, as well as a few things you can do to get prepared. If you missed part 1, you can visit our previous blog to see A Look at the Home Buying Process Part 1


Make An Offer

After you have found the right home you will work with your real estate agent to negotiate an offer that is based on the value of the home and comparable to the value of the homes in the same neighborhood and home type. When you have reached an agreement on the price, the home with go into escrow. Escrow is the period of time it takes to complete all of the final steps in the home buying process.

Get a Home Inspection

In many cases, the purchase offers are contingent on the home inspection. A home inspection will check for signs of structural damage as well as things that may need to be fixed. Your real estate agent at Lake of the Ozarks can assist with arranging the inspection, and it is generally conducted within a few days of your offer being accepted by the seller. The contingency is there to help protect you as a buyer by giving you the chance to renegotiate your offer, or even withdraw it without a penalty if the inspection reveals significant material damage.

Work with Your Mortgage Lender to Select Your Loan Program

This is the step where Team Lasson really gets to shine in the home buying process! We will provide a range of competitively priced loan programs for you to look over. As you have questions about the loan options, we can provide exceptional customer service and experience to assist you in making the process easier. Every home buyer is going to have their own priorities when choosing a mortgage. While some are interested in keeping monthly payments low, others are going to be interested in making sure that their monthly payments never increase, still others will want to pick a loan based on the knowledge that they will be potentially selling the home again in a few years.

Have the Home Appraised

Our team will arrange for an appraiser to provide an independent estimate of the value of the house that you are buying. The appraiser is a member of a third party company and will not be directly associated with anyone involved in the transaction. After the appraisal is completed, they will provide a report regarding the value of the property so you know that you are paying a fair price for the home.

Time for Paperwork

It is no surprise that there is a lot of paperwork involved when buying a house. During the contract negotiations, a title company will be selected to handle all of the paperwork and they will make sure that the seller is the rightful owner of the house that you are purchasing and will provide a title commitment showing all documents and/or liens that are filed of record against the property.

Closing Time!

When it comes time to close on your home, you will sign all of the paperwork required to complete the purchase, including the loan documents. Once the check has been delivered to the seller, you are ready to move into your new home!


Purchasing a Home at Lake of the Ozarks

We love Lake of the Ozarks, and we love to welcome new home buyers to the area. If you are considering purchasing a second home at Lake of the Ozarks, we would be honored to assist you. Now is a great time to purchase a new property! Visit our website to learn more about us (www.YourLakeLoan.com) or to fill out an application!

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.