Friday, November 16, 2018

A Home for the Holidays: Is There Time To Buy?

Are you thinking about buying a home at the Lake of the Ozarks before the holidays? There are two reasons main reasons to close before this date. Either you want to enjoy your home for the holidays, or you want a tax break for purchasing before the end of the year. You may be cutting it close, but keep these details in mind as you make your real estate plans.


The Mortgage Timeline

While one home purchase can go fast, another could take longer. Team Lasson will do whatever is in our power to make your mortgage at the Lake of the Ozarks go smoothly. If we do run into challenges, we look forward to helping you through them!

1st. Start by scheduling an appointment with Team Lasson to get your pre-approval. We will review your credit, income, and debt to determine the maximum amount that you can borrow. Give us a call at 573-746-7211 to get started. This step can be finished quickly, as we can work with you in person or over the phone and email.

2nd. After you are pre-approved for a specific amount, it is time to hire a real estate agent at the Lake of the Ozarks. You can now begin the house-hunting process. Finding the right home can go quickly, but it can also take some time. It all depends on what is currently on the market, and what you are looking for. Once you have found the right home, your agent will help you make an offer.

3rd. After the sellers accept your offer, it is time to get the ball rolling on your purchase by having your agent order the necessary inspections and finalizing your lending terms with Team Lasson so we can complete your loan approval.

4th. Upon receipt of your Sales Contract and Loan Application, we will provide you with the required disclosures for your loan which will include a Loan Estimate to show you the anticipated costs associated with your mortgage. We will also give you a specific amount of time to lock in the interest rate that we have offered on your home loan. You will have to lock this down before the cutoff if you do not want it to be subject to change.

5th. After receiving your signed loan disclosures and additional requested documentation, we will be processing your loan application and getting your loan file submitted to our underwriting department for final loan approval.

6th. After step five is finished, it is time to start the closing process. At least three business days prior to your closing, we will issue your Closing Disclosure to you for review and signatures. On your closing date, we will and meet at the title company to sign the documents!

Do You Have Time?

The end of the year is quickly approaching, however, we can still get you in your new home before then. Call us today to get started!


Get Pre-Approved

The first step to getting your vacation home is to get pre-approved. We can easily do this with you in person, online or over the phone, whichever works best for your schedule. We look forward to walking through the home loan process with you. Owning a home at the Lake of the Ozarks is a wonderful way to enjoy weekends and vacations in the Lake area. We look forward to having you a part of our community, whether full-time or part-time!

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.

Friday, November 9, 2018

5 Tips for Buying a Vacation Home in the Off-Season

If you have been dreaming of the perfect vacation home at the Lake of the Ozarks, now is a great time to start your search. Much like any other real estate, there are things you need to keep your eye open for in the winter. The good news is that when things slow down during the off-season, you may even find the perfect home for an even better price. Here are a few things that Team Lasson suggests you keep in mind as you buy a second home at the Lake of the Ozarks.


Understand the Pros and Anticipate the Cons

There are always pros and cons to buying in any season - don’t let either be a driving force for your decision. The pros of buying in the winter are that there will be less competition for Lake of the Ozarks real estate. Prices may also be better on homes because owners are eager to get them off the market. Cons could include that weather could postpone a showing if there is ice or snow. Another con could be that you won’t get to see all of the summer beauty. Either way, take everything in stride and realize that there are pros and cons to every season.

Buy for the View

When buying a vacation home, it can be easy to get swept away with finding a home in the perfect location, or next to your favorite restaurant. However, we think that buying for the view is even more important than buying for location. Unlike your full-time home, where you’ll be making a daily commute, or need to be in a specific district, your vacation home is strictly for enjoyment. When you look out of the windows or sit on the balcony or back deck - make sure that the view is breathtaking! Of course, when buying a home at the Lake of the Ozarks, you may find both!

Tax Season Incentives

If you’re buying your vacation home on or before December 31, you can deduct the interest and property tax portions of your mortgage payment, points on your loan, and interest costs from your taxes. End-of-year tax benefits can be a great reason to buy a vacation home in the winter, and it can be helpful for paying off your Lake of the Ozarks home loan.

Keep Summer In Mind

It’s important to keep summer in mind when buying your vacation home in the winter. Because you aren’t seeing the home in the summer months, there may be aspects of the house you forget to focus on. Remember that you will be using your air conditioning a LOT during the summer months, and it most likely won’t be turned on during the winter months. Ask lots of questions about this part of the home. You can ask when was it replaced, how often was it serviced, and if there is paperwork to verify these maintenance tasks. You’ll also be spending a lot of time in the outdoor spaces. While they may not be in their prime during the winter, make sure you take a look at the patios, porches, and balconies of the home. You’ll also want to look over the dock if the home comes with one. Docks can be very susceptible to winter conditions, so look closely and ask your inspector to focus on it while checking the home.

Who Will Watch Your Home For the Winter?

Finally, the last thing to think about while buying a vacation home (and this applies in any season) is, who will be looking out for the property during the offseason? Empty home’s can be more susceptible to conditions if there is no one around to check for water leaks or power outages. The Lake of the Ozarks has many incredible companies who provide home watch services.


Ready to Start the Process?

If you want to buy a home at the Lake of the Ozarks, the first step is to get pre-approved. Team Lasson is here for you, and we can assist in making the mortgage process easy. Our team is here to answer all of your questions about buying a home, but also the Lake area. We live here full time and can make suggestions to help you get settled in. Buying a home starts with getting your mortgage, and we are here to help!

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, October 30, 2018

5 Places to Enjoy the Fall Colors at the Lake of the Ozarks

You may have seen the news, the Lake of the Ozarks was voted the SECOND best place to enjoy the colors in the nation by USA Today. As we look outside, we are inclined to agree. The Lake area is absolutely breathtaking this time of year, and if you are lucky enough to call this beautiful place home - you are lucky enough! Of course, if you do not live at the Lake of the Ozarks, now might be the time to start looking. While visiting the area and looking for your dream vacation home at the Lake of the Ozarks, here are the top FIVE places where you can enjoy the Autumn view before the leaves fall.

Photo Credit: FunLake.com

The State Parks

The Lake Ozark State Park and Ha Ha Tonka State Park both provide the most spectacular views of the Autumn colors. Put on your hiking shoes and enjoy breathtaking trails through the Ozark hills. There are easy paths and more challenging hikes so you can choose the trek that works best for you. From historical sites to playgrounds for the kids, our State Parks provide a wonderful way for everyone to enjoy the colors.

From the Air

Are you looking for a unique way to appreciate the colors? Try getting a bird’s eye view and enjoying them from the air! There are companies at the Lake that provide helicopter rides over the Lake of the Ozarks. This is a beautiful time to take flight and get a truly special view of the Ozark hills in all of their glory. Check out the tour options and schedule a time that works best for you and your friends or family.

Photo Credit: FunLake.com

From the Water

The water provides a wonderfully beautiful way to view the beautiful Fall colors. Of course, when you are at the Lake, you can hardly pass up an opportunity to actually get out on the water. If you do not have a boat at the Lake, you may still be able to rent a boat from any number of local boat rental locations at the Lake of the Ozarks. Another option is to check in with the local cruise ship at the Lake and see if they are offering any tours. The views from the Lake are incredible, and we hope that you take the opportunity to enjoy them.

Local Restaurants

The only thing better than enjoying the beautiful Lake colors would be observing them from the table of a wonderful Lake of the Ozarks restaurant. We have so many fantastic dining options at the Lake with incredible views. Not just of the colors, but also featuring panoramic views of the water. Please take time to visit any of our wonderful restaurants at the Lake of the Ozarks while you are visiting the area.

Your Own Lake Home

If you already own a vacation home at the Lake of the Ozarks, you know all too well that the views from your very own home are the best. Grab a seat on your deck or patio, sit down with your favorite beverage, and enjoy the scenery. From views of the sun setting over the Autumn leaves to brisk afternoons with a cool Fall breeze rustling the falling leaves, the view from your home is always going to have a special place in your heart.

Photo Credit: FunLake.com

Need a Lake Home?

If you do not have a Lake of the Ozarks vacation home, the Lasson Team would love to help. We can assist you in finding a home loan for your new lake home. From cozy fishing cottages to large million dollar mansions, our team can handle it all. Visit our website to learn more, or please give us a call at the number below, we would be glad to talk with you about your options!

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.
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Thursday, October 25, 2018

Halloween Fun at the Lake of the Ozarks

This community is always loved for the way it comes together to celebrate holidays and events. Halloween and other Autumn celebrations are no different! There is a full weekend of fun at the Lake of the Ozarks that you will not want to miss. Take a look at this list with events from FunLake.com and find some fun things to do with your friends or family.



Zombie Wasteland Haunted House
Sep 29, 2018 - Oct 27, 2018
474 S. State Hwy 7
Camdenton Missouri 65020
Phone: 573-480-7978

Thunder Mountain Fall Festival
Oct 05, 2018 - Oct 27, 2018
Bridal Cave & Thunder Mountain Park
526 Bridal Cave Rd
Camdenton Missouri 65020
Phone: 573-346-2676

MECCA Family Farms - U Pick Pumpkin Patch
Oct 06, 2018 - Oct 28, 2018
Hours of Operation: 10:00 am – 5:00 pm
MECCA Family Farm
425 Delmar
Roach Missouri 65787
Phone: 573-280-3116

Hy-Vee Hollow Trick-or-Treat
Oct 25, 2018
Hours of Operation: 4:00 pm – 7:00 pm
Hy-Vee Parking Lot
929 State Hwy D
Osage Beach Missouri 65065
Phone: 573-302-7977

Eldon PTO Trunk-or-Treat
Oct 27, 2018
Hours of Operation: 6:00 pm – 8:00 pm
Eldon Elementary School Storm Shelter
409 East 25th St.
Eldon MO 65026
Phone: 573-280-3641

HOWL-O-WEEN Festival
Oct 27, 2018
Hours of Operation: 11:00 am – 3:00 pm
Dogwood Animal Shelter
1075 Runabout Drive
Osage Beach Missouri 65065
Phone: 573-346-7932



Haunted Happenings at Stark Caverns
Oct 27, 2018
Hours of Operation: 10:00 am – 6:00 pm
Stark Caverns
125 Cave Drive
Eldon MO 65026
Phone: 573-369-3306

Halloween on the Bagnell Dam Strip
Oct 27, 2018
Hours of Operation: 2:00 pm - 8:30 pm
Bagnell Dam Strip
Bagnell Dam Blvd.
Lake Ozark Missouri 65049
Phone: 573-365-6344

H.Toad's Halloween Party & Costume Contest
Oct 27, 2018
Hours of Operation: 8:00 pm – 1:00 am
H.Toad's Bar and Grill at Camden on the Lake
2359 Bittersweet Rd.
Lake Ozark MO 65049
Phone: 573-365-5620

Kid's Halloween Spooktacular at Captain Ron's
Oct 28, 2018
Hours of Operation: 5:00 pm – 7:00 pm
Captain Ron's
82 Aloha Lane
Sunrise Beach Missouri 65079
Phone: 573-374-5852

SpookTacular Trick-or-Treat
Oct 31, 2018
Hours of Operation: 7:00 pm to 10:00 pm
474 S. State Hwy 7
Camdenton Missouri 65020
Phone: 573-480-7978

Halloween Trick-or-Treating Event at Osage Beach Outlet Marketplace
Oct 31, 2018
Hours of Operation: 4:30 pm – 6:30 pm
Osage Beach Outlet Marketplace
4540 Osage Beach Pkwy
Osage Beach MO 65065
Phone: 573-348-3829



It is going to be a spooktacular weekend at the Lake! If you have been thinking about buying a vacation house at the Lake of the Ozarks, never fear - there are no haunted houses here. The Lasson Team can help you get your vacation mortgage at the Lake of the Ozarks secured. Visit our website to learn more, or give us a call. We would be honored to help you relocate to the Lake of the Ozarks and join this awesome community. Happy Halloween weekend from The Lasson Team!

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.
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Wednesday, October 17, 2018

Winterizing Your Vacation Home

Fall temperatures showed up at the Lake of the Ozarks this week! Not only have they come roaring in, but they aren’t showing any signs of leaving, either. Temperatures will be dipping into the 30’s this week, and before you know it, winter will be here. If you have a vacation home at the Lake of the Ozarks and you haven’t winterized it yet, now is the time. Here are a few things to consider as you get your vacation home ready for winter.


Make Your Home Look Occupied All Season

When you won’t be staying in your home for a while, you can do a few things to make it look occupied - even when it isn’t. First, you need to have mail forwarded if you receive anything at your vacation address. If you won’t be available to come down and clear away snow after it storms, hire a local business to clean off the sidewalks and driveway. Finally, make sure that the motion-sensitive lights are working, and install a timer for interior lights. You’ll want to set them at varying times to discourage prowlers.

Secure Your Home

We love the lake area because it’s generally a safe place to live. That doesn’t change the fact that you should take some precautions, especially when you won’t be staying in your Lake of the Ozark vacation home. Double check the alarm system and make sure it’s activated before you leave. Secure the external doors and all windows with locks and place a security device in sliding doors. It’s not likely that you’ll be storing valuables in your home, but if you do leave expensive items behind (television, exercise equipment, artwork, etc), try to make sure they can’t be seen through the windows or doors.

Winterize Your Pipes

This can be a huge concern for anyone leaving their vacation home for any period of time. If a pipe bursts during the off-season, you’ll want to have a plan in place to find out about it as soon as possible. Of course, completely turning off the water supply to your home is the best option. Drain your pipes of all water by opening the faucets, and flushing the toilets after you turn off the water to your home. You may want to consider pouring antifreeze in the toilet tanks and bowls to prevent any remaining water from freezing and cracking. If you have any questions about this step, it is worth it to schedule an appointment with a plumber to help confirm that the task is accomplished properly. They can blow compressed air through the pipes as well to make sure they are completely empty.

Routine Maintenance Before You Leave

Performing a few routine tasks before you shut the house up for the season can ensure that when you come back, things will be just as good as when you left. Have your heating system inspected and serviced before winter, and make sure you schedule your fuel tanks to be filled. If you leave the electric on at your home while you’re gone, consider having an electrical contractor inspect your main electrical panel, wiring, and outlets. It would be better to have defective items replaced now than to find out what happens if you don’t.

Have your roof inspected before you leave, and make sure that your gutters are cleaned to help prevent ice buildup. Take a look at the trees around your home, and if there are large trees surrounding your home, take a look at the branches and make sure that none of them hang over your home. If they do, you’ll want to have them removed. Finally, unplug all unnecessary appliances before you leave. 

Protect from Pests 

When you won’t be in your home regularly to guard against pests, you’ll want to make necessary adjustments to keep them away while you’re gone. Either hire a crew to come in and clean your home thoroughly or take on the project yourself. You don’t want any unwelcome “residents” coming in during the winter. Clean, defrost, and unplug the refrigerator and freezer, and wipe them dry. Leave the doors propped open to prevent mildew. You’ll also want to clean out the oven. Look around your home for openings that an animal may use to enter your home, like the fireplace flue. If you have a fireplace, you’ll want to have a professional come out and inspect the chimney. It may need to be cleaned out before, as well as have a guard added to prevent any pests entering.

Prepare for Emergencies 

Did you know that you can notify the police department that your property will be vacant? Give them your emergency notification numbers so that they know who to contact if something happens. Install smoke detectors on every floor at the least, and confirm that the sensors are tested. Do you have trusted friends or neighbors who will be staying in the area over the winter? Check in and see if they would be available to look in on your home while you’re gone. If you don’t have someone you could ask, you can hire a property management company to do this.  

Your Lake of the Ozarks Home

We enjoy helping people buy vacation homes at the Lake of the Ozarks! This area is beautiful no matter the season, and we would be honored to help you and your family finance a second home at the Lake of the Ozarks. Visit our website to learn more about our Lake of the Ozark mortgage company, or give us a call at the number below. We can’t wait to help your vacation dreams become reality!

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.

Friday, October 12, 2018

10 Mortgage Terms Defined

Like any industry, there will be a specific set of terms and abbreviations that are used to quickly communicate something important. If you are not a part of the “club,” though, it can seem hard to keep up. The Lasson Team doesn’t expect you to learn the mortgage lingo - so we take time to explain everything to you. We want you to understand exactly what your vacation home mortgage at Lake of the Ozarks will mean and how it will affect your finances afterward. If you like to learn about new terms - we’ve explained a few of them here so you can show off at our next appointment together!


ARM (Adjustable Rate Mortgage)

This is a mortgage in which the interest rate is adjusted up or down. The time frame that it is adjusted by is based on a pre-selected index. ARM products have interest rates that may increase after loan consummation.

Amortization

This is the repayment of debt with periodic payments that include both the principle and the interest. The loan is to be paid off at the end of a fixed period of time.

DTI (Debt-to-income ratio)

This ratio is explained as a percentage, and it explains what a borrower’s monthly payments will be on long-term debts divided by his or her gross monthly income.

Escrow

This may also be called “impounds” in some areas. It is the money that is collected by a lender as part of the monthly mortgage payment. It is then used for the purpose of paying a homeowner’s real estate taxes and insurance obligations.

Loan Estimate

This summarizes the terms of your loan and the estimated costs and is issued after your loan application. The processing of your loan starts when you submit the Intent to Proceed form that is issued along with the loan estimate.

Closing Disclosure

This provides the actual costs and terms of your loan. You will receive it at least three business days before closing.

LTV (Loan to value ratio)

The ratio is expressed as a percentage, and it results from dividing the amount being borrowed by the appraised value or selling price of the house.

PITI (Principal, Interest, Taxes & Insurance)

This is pretty self-explanatory. The principal, interest, real estate taxes, homeowner’s hazard insurance, and if applicable, private mortgage insurance or flood insurance. This is also known as your monthly housing expense.

PMI (Private Mortgage Insurance)

PMI is an insurance policy that allows a mortgage lender to recover part of its financial losses if a borrower defaults on a loan.

Underwriting

The underwriting department is responsible for approving mortgage loan applications. The underwriting procedure includes evaluating and verifying the information provided on the applications and supporting documentation to determine if the client has the capacity to repay the mortgage loan.


Ready to Buy a Home at the Lake of the Ozarks?

Now that you understand some of the lingo, it’s time to get you pre-approved at the Lake of the Ozarks! Buying a vacation home at Lake of the Ozarks is a great way to invest some money, but also enjoy it in the process. What may start as purely investment could become the best money you ever spent. If you are ready to join the thousands of homeowners at Lake of the Ozarks, we would like to help. Visit our website, or give us a call at (573) 746-7211 to learn more about home buying at the 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.

Friday, October 5, 2018

The Historical Lake of the Ozarks

The Lake of the Ozarks has been making headlines since it was created - but it hasn’t always been around. It’s actually a man-made lake and is filled with history. Because this area wouldn’t be what it is today without the incredible Lake, we wanted to take a few moments to share some cool tidbits about the history of the Lake.


Bagnell Dam History

Bagnell Dam was the start of it all, and it was considered the most skillful engineering feat of its day! Construction began on August 6, 1929, by Union Electric Company of St. Louis, MO, now known as AmerenUE.

Only four months into the project, the Great Depression hit, but the construction of the Dam continued on. There are around 4,600 workers that were employed at one time, and among 20,500 total individuals over the two years it took to complete the project! It was a great asset to the area when the rest of the nation was experiencing the stock market crash.

The lake began to fill on February 2, 1931, and the lake was opened to travel on May 30, 1931. The reservoir encompasses 92 square miles or some 54,000 acres of which 30,000 acres required clearing.

All About the Dam

The dam is 2,543 ft long and consists of a 511 ft long power station, a 520 ft long spillway section, and two non-overflow retaining sections by the riverbanks. The dam supports a concrete highway structure with a 20ft wide roadway and a 3 ft sidewalk that spans the entire length of the dam.


About the Lake

The Lake of the Ozarks covers 54,000 acres, impounds 646 billion gallons of water and has 1,150 miles of cove indented shoreline. The immense statistical facts about the Lake of the Ozarks are a huge reason that we experience the incredible level of tourism in our area. Thousands of visitors will travel here every year to enjoy the beauty and recreation that wouldn’t be possible without the Great Osage River Project.

Photo Credit: FunLake.com

Buying a Home at the Lake of the Ozarks

The Lake of the Ozarks is a wonderful place to vacation, but it’s also a wonderful place to live. Do you want to relocate to our beautiful area and call the Lake home? Living here full time can be extremely fulfilling. We have a wonderful community, great people, and living the Lake life full time is exciting. Of course, for many, having a vacation home at the Lake of the Ozarks is the next best option. If you are interested in purchasing a Lake of the Ozarks home, I can assist you in getting started. Getting pre-approved for your Lake of the Ozarks mortgage is the first step, and the Lasson Team is here for you. Visit our website to learn more about our services, or give us a call to get started. We look forward to assisting you in achieving your real estate goals!

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.
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