Wednesday, January 16, 2019

Interesting Things to Know About Mortgages

Mortgages are one of the best and easiest ways to get a home. With funds for a down payment, it can be easier than ever to apply and get approved. This can be great news for second home buyers looking to purchase a vacation home at the Lake of the Ozarks, as well as for first-time homebuyers looking to settle down at the Lake of the Ozarks. As you start making plans and considering your next steps for buying a Mid-Missouri home, keep these interesting facts in your back pocket.


The Lowest Mortgage Rate - It was LOW!

In late 2012, the average interest rates for a 30-year fixed, rate mortgage hit 3.31%. The rates for 15-year mortgages were below 3%.

The Highest Mortgage Rate - It Was HIGH!

In late 1981, the average interest rate for a 30-year fixed-rate loan hit 18.45%! If you are not sure how this would affect your mortgage, think about it this way. If you have a $200,000 30-year fixed-rate mortgage (for a $250,000 home), a 3.31% interest rate would be about $877 a month. An interest rate of 18.45% would take the monthly payment to $3,088 - go ahead and pick your jaw up off of the floor.

Paying Additional Funds Each Month Can Shave Years Off of Your Loan

It’s not rocket science, making extra payments can help build equity and reduce your debt faster, but do you know the real effect that it can have? By taking your principal and interest payment for the month and dividing it by 12 and adding that amount to your monthly payment as additional principal each month, you can reduce your 30 year mortgage by more than 11 years.

What Was the Most Expensive Home Ever Sold?

Currently, the record goes to 521 Round Hill Road in luxurious Greenwich Connecticut. The property features 8 bedrooms, 8 full baths, 4 half baths, and 17,603 square feet on 40.26 acres. it sold for $49,895,000 - just shy of $50 million! If the undisclosed buyer took out a mortgage for that home, 20% down would be around $10 million, and their estimated monthly mortgage with taxes and insurance would be around $243,930!

Automate Your Monthly Payment

Did you know that you can automate your monthly mortgage payment? Set up automatic money transfers from your bank account or paycheck to go directly to your mortgage servicer. This helps eliminate the risk forgetting to pay a bill.

A Good Credit Score Can Help

Your credit score is a very important part of the mortgage puzzle. It’s always a good idea to keep an eye on your credit score.

Know What Your Loan’s APR Rate Is

Compare your annual percentage rates (APRs) when you are looking for your Lake of the Ozarks mortgage. While it’s easy to focus on the interest rate that you’ll be getting, an easily forgotten aspect is the closing costs. The APR reflects the true cost of your loan.


Your Lake of the Ozarks Mortgage

Now is a GREAT time to buy a home at the Lake of the Ozarks, and Team Lasson would be honored to help. From buying a vacation home at the Lake of the Ozarks to buying your first home, we are here to assist. Visit our website to learn more about our mortgages at the Lake of the Ozarks, or give us a call at the number below - we look forward to helping you get your home.


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, January 10, 2019

Vacation Home Locations at the Lake of the Ozarks

When you are buying your vacation home at the Lake of the Ozarks, location is key. The Lake covers over 84 square miles, and different parts of the lake offer different advantages. When you prepare to buy your Missouri Lake home, it’s important to know where the hot spots are for vacation homes. Team Lasson is going to introduce you to some of the best locations where owning a vacation home at the Lake of the Ozarks can put you in the lap of luxury


Porto Cima

The vision behind Porto Cima was to create the finest golf and boat community in the Midwest, with a subtle Mediterranean theme. Owning a home in Porto Cima can fulfill your greatest desires when you’re looking for a lifestyle filled with beauty and adventure. There are many special privileges available when you own a home in Porto Cima, which includes access to the best golf courses in the area. Other amenities in Porto Cima include the:


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


The Village of the Four Seasons

The Village of Four Seasons is a wonderful place to own a home at the Lake of the Ozarks - whether as a primary or vacation residence. There are numerous properties that boast beautiful views, lake access, and exclusive amenities. If you’re interested in moving to the Village of Four Seasons Missouri, Team Lasson would be honored to assist you in getting pre-approved. This community offers excellent amenities, such as:


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


Old Kinderhook

Old Kinderhook is located in Camdenton, MO and boasts of luxury living with all of the amenities. There are many different types of homes, from cottages to patio homes, and lakefront condominiums to estate homes. Wonder what is available at Old Kinderhook? Take a look at the list below:


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


Villages at Shawnee Bend

The Villages at Shawnee Bend is one of the Lake of the Ozarks premier luxury home development areas. They are situated on the southern shores of Shawnee Bend and provide the perfect combination of privacy and seclusion - while still providing easy access to all of the activities of the Lake area. Here are a few wonderful amenities that they offer:


  • 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


Owning Real Estate at the Lake of the Ozarks

If you’ve been thinking about purchasing a home at the Lake of the Ozarks, now is the time to get started! Team Lasson would love to help you make secure your mortgage at the Lake of the Ozarks and get into your dream home. Visit our website at the link below to learn more about our services, or give us a call! We would be glad to assist you in purchasing a home in 2019!

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, January 3, 2019

What To Know Buying Real Estate in the Winter

While the Lake area slows down a bit in the Winter, it doesn’t stop altogether! There are still many people who live here full-time, keeping the area thriving and moving forward. While buying a vacation home at the Lake of the Ozarks may not be top of mind during the colder months, there are actually some significant advantages to buying a lake home during Winter. Here are a few things that Team Lasson thinks you should remember while preparing to get your Lake of the Ozarks mortgage.


It’s Your Market

The offseason in our area can be a great time to buy your dream vacation home. The dedicated house-hunters may not be out looking for real estate and it could be a great time to grab a great deal. Sometimes in the off-season, you’ll find that prices are typically lower as well, and even a small difference in price can mean big savings for you in the long run.

Close the Deal!

When you aren’t competing with more buyers, you have a higher chance of getting the deal closed. During those busy selling months, it can be harder to find your home because 10 other buyers may have found the same one. Bidding wars are no fun, but the good news is that homes listed in the Winter tend to sell for less, and have fewer people competing for them.


Motivated Sellers

There are many reasons that a person could be selling their home in the Winter. Perhaps they have personal circumstances that are forcing them to move out or maybe their home is leftover from summer. No matter what the reason, Winter sellers are typically more motivated to sell as the real estate activity slows down. You will have more opportunity to negotiate the purchase price, terms of the sale, and any items to be included with the purchase.

Now is the Time to Buy!

Now is a GREAT time to buy Lake of the Ozarks real estate, and our team would love to help you finance your new place. Whether you need to finance a second home at the Lake of the Ozarks, or a primary residence, our mortgage team is ready to assist. 2019 could be the year that you find your dream vacation home at the Lake of the Ozarks, and Team Lasson wants to be there to support your mortgage needs. Give us a call at 573-746-7211 today!

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, December 27, 2018

Tips for Buying a Home in 2019

With the New Year comes thoughts of making goals, living your dreams, and putting plans into action. For some, this will also include planning to buy a home at the Lake of the Ozarks! Whether you’re looking for a primary residence where your family can settle down full-time or a vacation home at the Lake of the Ozarks, it’s a great time to purchase and our team would love to help you finance your new home. Here are a few things to keep in mind as you start planning this new adventure.


Get Pre-Approved

The first step to buying a home is getting pre-approved and learning how much of a house you can buy. You can estimate how much you can afford for a new home, but the best way to start is give us a call and start the mortgage process. Once you get that completed, you can take that information to your real estate agent and start looking for the perfect home at the Lake of the Ozarks.

Mortgage Rates May Rise

While we can only predict what the mortgage rates will do in 2019, the experts are all saying that they will probably increase a bit in 2019. Mortgage rates should continue looking good, especially when you look at historical levels.

ARMs Will Change

There are many who expect a more meaningful shift to adjustable-rate mortgages in 2019. Because many homeowners move a lot more frequently than every 30 years, alternative programs may be a great fit for some homeowners. New buyers who are looking for cheaper financing could secure a 5/1 or 7/1 ARM in the 3% range, which may feel like a better move.

Homes Prices On the Rise

You can expect that the home prices will continue to rise in 2019 and beyond. It will only be a small percentage gain, but there will still be gains. Instead of the prices rising 10% year over year, though, you can expect them to rise 4-5% instead, depending on the area. If you’re planning on buying a home at the Lake of the Ozarks in 2019, earlier is always better. Now is a great time to buy a home at the Lake of the Ozarks, and our team would like to assist you in financing your new home!

A Big Home Buying Season This Spring

If you’re in the market to buy a home in 2019, you may find a tough go of it, since home prices will probably keep increasing. The competition may not be as fierce this year, but it will still remain, especially in popular areas (like the Lake of the Ozarks!). Inventory may creep up slightly, but sellers probably won’t be flooding the market because there is a lack of move-up inventory and the mortgage rate lock-in effect.

Millennial's are on the Move

Many millennial's are of the home buying age, and a lot of them are looking for real estate. The demand will be great for the market, but may not be so great for them when it comes to home prices. If you’re looking to sell a home at the Lake of the Ozarks, be sure that you are considering who will be buying your home. If you're appealing to millennial's, cater to them through smart design, technology, cool outdoor spaces, and easy driving distance to restaurants, bars, and coffee shops. However, some sellers will be appealing to Generation X when they are selling lakefront condos as the Lake of the Ozarks, or large million dollar homes on the lake. Either way, Team Lasson is here to help you through the financing process.


Mortgages at the Lake of the Ozarks

With the New Year here, and many people still looking to purchase a home at the Lake of the Ozarks, we are excited for this upcoming year. If you have any questions about mortgages or would like to start the home buying process, please give us a call! From all of us with Team Lasson, we wish you a very happy and prosperous 2019.


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, December 20, 2018

Pro’s & Con’s for Paying Off Your Mortgage Early

A mortgage can be a great way to make payments towards an investment instead of paying rent every month. Mortgages also provide several tax advantages, which are just a few reasons that people want to keep them around for the full 30 years. However, there are some times where paying off your mortgage could be a good financial decision. Whether you’re purchasing a primary home or buying a vacation home at the Lake of the Ozarks, here are the things you need to know about paying your mortgage off early.


First Things First

What you have to remember is that every financial situation is different. While it may make financial sense for one person to pay off their mortgage, it may not make sense for another. When you sit down with us to start your mortgage, we can discuss what your future goals are, and how to set up the mortgage to match those goals.

Pros


  • There are some pros to paying off a mortgage early. Depending on your situation and reasoning, it could be a great financial step. Here are just a few reasons you may want to pay it off early:
  • Paying off your mortgage early lowers your required cash flow. It also changes your potential asset allocation, which lets you be a little more aggressive in other areas.
  • For every dollar you pay on your principal, you’re making the interest rate back because you’re keeping it in your pocket. For example, paying off or down, a 4% mortgage makes you 4% with no management fee.
  • Paying off your mortgage is 100% safe, there is no market risk.
  • When you pay off your mortgage you can then free up that money in your budget towards other things.

Cons


  • There are always cons when you make any large financial decisions, so it’s important to take them into account while making your choice. Here are a few, though they are a bit intertwined:
  • It can reduce liquidity. It’s easier to access your funds when they are in an investment account or bank account. It’s a bit harder to access them when they are in the form of home equity.
  • If you should decide to borrow against your paid-off home in the future, it could very well end up costing much more. A rise in interest rates could impact your new mortgage heavily.
  • For those who are near retirement age, you are most likely paying less in mortgage interest. So little, in fact, that barring the deductions, the mortgage interest and other itemized deaccessions is no longer more than the standard deduction.


Mortgage Considerations

These are all things you can consider both while you get your mortgage at the Lake of the Ozarks and even years after you have it. There are a lot of things to consider when getting a first or second mortgage at the Lake of the Ozarks, but it does provide a great way make solid investments and also get your dream vacation home! Do you have more questions about mortgaging a lake home? Team Lasson is here for you! Visit our website to learn more about our mortgage company at the Lake of the Ozarks, or give us a call. We look forward to helping you buy your dream lake home!


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, December 5, 2018

Merry Christmas from the Lake of the Ozarks

The Lake area always has a calendar filled with fun events and exciting adventures. From events for families with young children to sophisticated soirees that couples will enjoy, there’s a little bit of everything. As Christmas gets closer, you’ll find that the events at the Lake are gearing up with all things Merry and Bright. Below are some of the excellent events happening around the area - you won’t want to miss it!

Photo Credit: FunLake.com, Enchanted Village of Lights in Laurie

Christmas Lights at the Lake of the Ozarks

Enchanted Village of Lights
Nov 16, 2018 - Jan 01, 2019, from 5:00 pm to 9:00 pm (10:00 pm on weekends)
Laurie Fairgrounds
269 Fairgrounds Drive
Laurie MO 65037

Versailles Unity Circle Of Lights
Nov 21, 2018 - Jan 01, 2019, from dark until midnight
Versailles City Park
Hwy 5 and Hwy 52
Versailles Missouri 65084

St. Patrick's Festival of Lights
Nov 22, 2018 - Jan 02, 2019, from 5:00 pm to 10:00 pm
Shrine of St. Patrick | Mothers Shrine
176 Marian Drive
Laurie Missouri 65038

Deck the Docks Holiday Light Cruises
Nov 23, 2018 - Dec 29, 2018, from 5:30 pm to 8:30 pm
Celebration Cruises Grand Glaize
5085 Davis Drive
Osage Beach Missouri 65065

Osage Beach Holiday Lights in the Park
Nov 24, 2018 - Dec 31, 2018, Wed thru Sun, 5:00 pm to 9:00 pm
Osage Beach City Park
950 Hatchery Road
Osage Beach Missouri 65065

Windermere Christmas Light 5K
Dec 08, 2018, at 5:30 pm
Windermere Baptist Conference Center
1650 Koehler Drive
Roach MO 65787

Christmas Entertainment at the Lake of the Ozarks

Christmas on Main Street
Nov 23, 2018 - Dec 22, 2018
Main Street Music Hall
5845 Osage Beach Parkway
Osage Beach Missouri 65065

SBLT Youth Production Holiday Play
Dec 07, 2018 - Dec 08, 2018, at 7:00 pm
Sunrise Beach Community Center
15133 N. Hwy 5
Sunrise Beach Missouri 65079

Carols in the Cavern
Stark Caverns
125 Cave Dr.
Eldon Missouri 65026

  • 9th St Christian Church Choir, Dec 09, 2018 from 6:00 pm to 7:00 pm
  • Eldon Girl Scouts, Dec 14, 2018, at 7:00 pm
  • School of the Osage, Dec 19, 2018, at 7:00 pm
  • Jake Wesley Rogers, Dec 22, 2018, at 7:00 PM
  • Michael Walton, 9th Street Christian Church Worship Minister, Dec 23, 2018, at 6:00 pm

'That's Christmas To Me' - Greater Lake Area Chorale
Dec 09, 2018, at 2:00 pm
Our Savior’s Lutheran Church
442 US-54
Camdenton Missouri 65020

Lake Area Community Orchestra
Royal Theatre
107 S Monroe St.
Versailles MO 65084
Dec 09, 2018, at 7:00 PM 
Lake Ozark Christian Church
1560 Bagnell Dam Blvd
Lake Ozark MO 65049
Dec 11, 2018, at 7:00 pm

"The Nutcracker" Play
Dec 14, 2018 - Dec 16, 2018, evening & afternoon times available
Royal Theatre
107 S. Monroe St.
Versailles Missouri 65084

Christmas with The Nelsons
Dec 14, 2018, at 6:00 pm
The Lodge at Port Arrowhead Convention Center
3080 Bagnell Dam Blvd
Lake Ozark MO 65049

Children's Christmas Play - “We Wish You a Merry Spendmas!“
Dec 15, 2018, at 2:00 pm
Camden County Museum
204 South Locust
Linn Creek Missouri 65052


Christmas Parades at the Lake of the Ozarks

Lake Ozark Christmas Parade
Dec 08, 2018, from 3:00 pm to 5:00 pm
Bagnell Dam Strip
Bagnell Dam Blvd.
Lake Ozark Missouri 65049

Eldon's Lighted Christmas Parade
Dec 08, 2018, at 5:00 PM
Rock Island Park
Downtown Eldon
Eldon Missouri 65026

Christmas Shopping at the Lake of the Ozarks

Versailles Christmas on the Square
Dec 08, 2018, from 1:00 pm to 5:00 pm
Downtown Versailles
100 E Newton Street
Versailles Missouri 65084

Old Tyme Christmas in Linn Creek
Dec 15, 2018, from 10:00 am to 3:00 pm
Camden County Museum
206 South Locust
Linn Creek Missouri 65052

Christmas Dining at the Lake of the Ozarks

Breakfast with Santa
Dec 08, 2018, from 8:00 am - 11:00 am
HK's at the Lodge of Four Seasons
315 Four Seasons Drive
Lake Ozark Missouri 65049

Breakfast with Santa at OYC
Dec 15, 2018, from 8:00 am to 12:00 pm
500 Yacht Club Landing Dr.
Lake Ozark MO 65049

Christmas Dinner at The Lodge of Four Seasons
Dec 23, 2018 - Dec 25, 2018
HK's Restaurant in The Lodge of Four Seasons
315 Four Seasons Drive
Lake Ozark Missouri 65049

Christmas Day Buffet at Tan-Tar-A
Dec 25, 2018, from 11:00 am to 4:00 pm
Tan-Tar-A Resort | JB's Boathouse
494 Tan Tar A Drive
Osage Beach Missouri 65065


Other Christmas Events at the Lake of the Ozarks

Christmas Village at Old Kinderhook
Nov 22, 2018 - Dec 23, 2018
The Ice at Old Kinderhook
678 Old Kinderhook Dr.
Camdenton Missouri 65020

Christmas for Kids
Dec 15, 2018, at 5:30 pm
The Lodge of Four Seasons; Granada Room
315 Four Seasons Drive
Lake Ozark Missouri 65049

Events at the Lake of the Ozarks

As you can see, this month is filled with Silent Nights and Decking the Halls. If you’re looking for some new traditions to add to your family, we would welcome you to come and see what’s happening at the Lake of the Ozarks. If you’re vacationing at the Lake of the Ozarks and find that you love this area as much as we do, maybe it’s time to buy a home here! Team Lasson provides great options for mortgages at the Lake of the Ozarks and we would love to assist you in buying a home at the Lake of the Ozarks. Merry Christmas from our family to yours!

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 30, 2018

The Best Loan Type for Second Homes

The Lake of the Ozarks is an incredible place to live for both full time and vacationers alike. It is no surprise that after a few vacations in the area you may already be dreaming of owning a vacation home at the Lake of the Ozarks. Team Lasson makes it our goal to help you accomplish this by providing mortgages at the Lake of the Ozarks. If you already have a mortgage, here are a few things you can keep in mind as you make plans to take on a mortgage for your second home.


What Financing is Available for Vacation Homes?

There are two paths that will lead you to your vacation home. You can take out a conventional mortgage loan for the purchase of the new home or you can refinance your present mortgage or take out a home equity loan (aka home equity line of credit, HELOC) on your existing property. Here are a few important details about each of these loans types.

Conventional Loans

This process will be similar to paying a mortgage for a primary residence. You will have to put down an initial down payment, and from there set up a payment plan over a span of 30 years. These loans also come with either a fixed or adjustable interest rate.

What makes this different than your mortgage on your primary residence? Second homes require a larger down payment. They are also suited to individuals who are stable in their career and lifestyle. You will need a good credit score, stable income, and a low debt-to-income ratio, and be able to show an ability-to-repay to meet the lending guidelines. Another difference is that you will need to prove that this new residence will be a vacation home and not an investment property.

Home Equity

Another option would be to borrow from your existing property equity, and there are a few ways to accomplish this. One of the more popular ways of doing this would be to take out a HELOC. A HELOC is a line of credit backed by the equity you have in your home. Your primary mortgage would stay the same, and the HELOC would count as a separate loan. These loans usually carry variable interest rates and they require good credit scores.

A Home Equity Loan or Second Mortgage is another popular option. They are also backed by the equity you have in your home. This provides you with your funds in a lump sum, rather than a line of credit that you draw from and pay off repeatedly. These loans typically have fixed interest rates.

Another option would be to refinance your primary home to pay off the existing mortgage and take additional funds out of the equity to use to purchase the new property.

5 Things to Remember About a Vacation Home Loan

Here are 5 things that we briefly mentioned above, but that you will want to focus on while planning your vacation home loan at the Lake of the Ozarks.

  1. Good credit
  2. Ability to make a down payment
  3. Qualifying savings
  4. Low income-to-debt ratio
  5. Proof that the property will be a vacation home


Time to Finance Your Vacation Home

Team Lasson would be honored to assist you with purchasing your vacation home at the Lake of the Ozarks. From fishing cabins to million dollar mansions right on the Lake, our team is here to make the process as easy as possible. Visit our website to learn more about our mortgage services, or give us a call to get started. We love the Lake of the Ozarks, and cannot wait to help you love it as well.


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.