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.

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