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.

Wednesday, November 21, 2018

5 Reasons We Are Thankful for the Lake of the Ozarks

We want to join those who are creating a warm and thankful environment on the world wide web this season. We have planted our roots here in the Lake of the Ozarks community through living here, working here, and making it a priority to help others obtain their dream homes in this great area, as well. It only seems fitting to tell you why we are thankful for this wonderful community.



We Are Thankful For Their Heart

Search far and wide, and you will be hard pressed to find a community that loves so hard. There are people who work tirelessly and consistently to help their fellow men. From people who are hurting from a terrible loss to those who are having a hard year and just need a helping hand, there are angels at the Lake who dedicate hours to helping those in need. This community comes together like no other to show how much every single person means to them. Through amazing events that bring the community together to support a cause, and organizations who dedicate time and money, we are seeing big things happen in this area.

We Are Thankful For New Innovations

There are always new ideas happening at the Lake of the Ozarks. While people primarily think of enjoying vacations at the Lake of the Ozarks, there is so much more to this area. There is a community of people who call the Lake home and who are the driving force behind improving the working and living environments for everyone here. We LOVE to see all of the forward-thinking ideas that come from people who love where they live and have a passion for what they do. Thank you!

We Are Thankful For The FUN!

The Lake of the Ozarks is such a fun place to be, and we are thankful for it. From weekend trips on the water to enjoy the sunset to evenings out at amazing restaurants to hear exciting live music - you really cannot beat this “Fun Lake.” During the summer, there are fun events planned to keep your schedule full and make many great memories. You cannot forget the winter, though. That is really when the Lake area works hard to appreciate the people who live here full time and pour back into each other's lives through great community events hosted by our amazing organizations.

We Are Thankful For The Next Generation

The amount of planning, time, and love that is poured into the children of this area is incredible. The amazing school districts that you find in the Lake community are just the beginning. Each and every teacher is consistently giving themselves to the kids of the area, and it is amazing to see. We also have thriving organizations that are doing everything they can to make sure that the youth of our area are given the tools they need to succeed. It starts with helping provide clothing and food to then offering scholarships that further their education. It is a powerful thing to see, and we are thankful for it.



We Love the Lake of the Ozarks

Team Lasson truly believes in the power of this community, which is why we provide mortgages at the Lake of the Ozarks. We love it so much, that we want to assist you in joining in on the fun. If you have considered buying a vacation home at the Lake of the Ozarks, or maybe you are looking for a permanent residence - we would be honored if you contacted us. Our team is ready to help you from start to finish, and before you know it, you will have a beautiful house at the Lake of the Ozarks! We are so thankful for this great area. What are you thankful for about the Lake of the Ozarks? Leave your gratitude filled comments below, or on our social media channels!


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 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.