Wednesday, October 16, 2019

How to Get Smart About Credit

Homeownership rates in the United States have been steadily increasing over the last decade. This is especially true over the last few months as housing prices are doing well and the interest rates have been low. October 17th is Get Smart About Credit Day, and it’s a great time to take a look at where your finances are and figure out where they need to be. If you are buying a home at the Lake of the Ozarks, whether it’s your first real estate purchase or you are a seasoned buyer, being smart about your credit is always important. Here are a few tips from Team Lasson for ways to improve your credit and give you the best possible chance for success when applying for a mortgage.

#1. Know Your Credit Score

It only takes a few minutes to learn about your credit score, in fact, many credit card companies make it easy to learn about inside your account. Surprisingly, there are many future home buyers who never review their scores or their credit history before submitting a home loan application, and they just assume that they will qualify. Before applying for a mortgage, it’s always smart to look at your credit report. Your scores and credit activity can have a major impact on your mortgage approval, and a minimum credit score is required for most loan programs. Several things that can affect your mortgage approval, other than your credit score, are missed payments, frequent late payments, and other derogatory credit information. Take time to clean up your credit history before applying for a mortgage and you could save some time and the additional effort of having to apply again later.

#2. Build Up Your Savings

Having money set aside before beginning your mortgage process can really help your application status. While several lenders have options for a zero-down mortgage loan, having a downpayment can be a huge advantage. The minimums will vary depending on the mortgage that you are applying for, but having money set aside can be a great advantage when starting the application process. Of course, down payments aren’t the only expense that you have to prepare for there will also be closing costs, inspections, appraisal, title search, credit report fees - and other expenses. You can expect that closing costs will be roughly 3%-5% of the mortgage balance.

#3. Stay At Your Job

If you want to buy a home, keeping your job through closing is extremely important. Any changes to your employment or income status can stop, or at the very least, delay the mortgage process. Lenders will approve your home loan based on the information provided in your application. Changing jobs, choosing a lower-paying career, or quitting your job entirely to become self-employed can greatly impact the plans, and lenders will have to reevaluate your finances to determine if you still qualify for the loan.

Getting a Lake of the Ozarks Home Mortgage

Getting your mortgage can feel a little intimidating at first, but when you are working with Team Lasson, we can help you evaluate your finances and establish a good goal to either work towards or to shop for when you start the home search. If you are ready to get smart about your credit and start the mortgage process, visit our website! You can fill out the pre-approval paperwork, and begin securing your Lake of the Ozarks mortgage. We can’t wait to begin working with you!

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, October 9, 2019

What’s Happening at the Lake This Fall?

It’s no surprise that Fall is a busy season around the Lake of the Ozarks. Last year, we were voted the 2nd best place in the nation to view the Fall colors, and combine that with great outdoor activities and a wonderful community, the calendars are filled! If you are still looking for fun things to do in the area over the next few weeks, we’ve got the scoop.

Fall Festivals & Events

34th Annual Fall Harbor Hop
Oct 12, 2019, from 9am-7pm
Multiple Waterfront Locations

Thunder Mountain Bridal Cave Fall Festival
Oct 05, 2019 - Oct 27, 2019
Saturdays & Sundays in October
Bridal Cave Thunder Mountain

19th Annual City of Osage Beach Fall Festival
Oct 12, 2019, from 10 am - 5 pm
Osage Beach City Park

OkToaderFest at The Horny Toad
Oct 12, 2019, from 11am-3pm
Horny Toad Entertainment Complex at Camden on the Lake

Apple Butter Days & Fall Festival
Oct 18, 2019 - Oct 19, 2019, from 9am-4pm
Camden County Museum

Alhonna Fall Classic Open Bass Buddy Tournament
Oct 26, 2019 - Oct 27, 2019, at 7 am
Alhonna Resort

Haunted Halloween

Halloween Havoc Baseball Tournament
Oct 19, 2019 - Oct 20, 2019
Osage Beach City Park

YMCA Halloween Spooktacular and Trunk-Or-Treat
Oct 19, 2019, from 1pm-3pm
Tri-County YMCA of the Ozarks

Lake Regional Cares For Kids Festival
Oct 19, 2019, from 10am-1pm
Lake Regional Hospital-Lot B

The Walking Dead Zombie Shoot
Oct 19, 2019, at 12pm
Haunted Holler/Fort 54 Paintball

Witches N' Wine
Oct 19, 2019 - Oct 20, 2019, from 5pm-11pm
Shawnee Bluff Vineyard

Haunted Holler Zombie Paintball Game
Oct 20, 2019, at 12:00 pm
Haunted Holler/Fort 54 Paintball

Halloween Bash on the Strip
Oct 26, 2019, from 2-5:00 pm
Bagnell Dam Strip

Halloween Happenings @ Stark Caverns
Oct 26, 2019 - Oct 27, 2019, Saturday at 6-10:00 pm, Sunday at Noon-5:00 pm
Stark Caverns

Captain Ron's 13th Annual Adult Halloween Party
Oct 26, 2019, at 7:00
Captain Ron’s

Captain Ron's 13th Annual Kids Spooktacular
Oct 26, 2019, from 5-6:30 pm
Captain Ron’s

Eldon PTO Trunk or Treat
Oct 26, 2019, from 6-8:00 pm
Eldon Elementary School

Halloween Family Day at Haunted Holler
Oct 26, 2019, at 12:00 pm
The Walking Dead at Haunted Holler/Fort 54 Paintball

Howl-O-Ween Festival
Oct 27, 2019, from 11am-3pm
Dogwood Animal Shelter

Haunted Holler Sunday Funday
Oct 27, 2019, at 12:00 pm
Haunted Holler/Fort 54 Paintball

HyVee Hallow Trick or Treat Maze
Oct 31, 2019, from 3pm-6pm
Hy-Vee Osage Beach

Halloween Spooktacular at Mid-County Fire
Oct 31, 2019, from 5-8:30 pm
Mid-County Fire Protection District

Halloween Trunk or Treat at Kent Memorial Church
Oct 31, 2019 - Nov 01, 2019, from 5pm-7pm
Kent Memorial Lutheran Church

Mark Your Calendars!

If you are filling out the rest of your October calendars, be sure to make plans and hit up one of these events this month! If you’re visiting the Lake of the Ozarks with the hopes of enjoying the Fall colors, you may just “Fall” in love with the area. If you do, Team Lasson is ready to help you make the dream a reality with mortgage services at the Lake of the Ozarks. Now is looking to be one of the best times in a long time to purchase a dream home. Whether you’re ready to take the leap and buy a vacation home at the Lake of the Ozarks or refinance your current residence in Missouri, we can help. Visit our website to learn more, and to submit your 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.

Friday, October 4, 2019

FAQs About Getting a Home Mortgage in the Fall

While it may not feel like it yet, the Fall season is here and we are so excited about what it means to our home buyers. There have been some interesting things happening in the mortgage market, and many homebuyers are finding that the interest rates are phenomenal. From new mortgages to refinancing, this is truly looking to be one of the best seasons to buy. If you have been thinking about purchasing a home at the Lake of the Ozarks over the next few months, here are the answers to a few frequently asked questions that may guide you towards the right decision for you.

Q: Does the season really matter when buying a home?
A: Essentially, no. However, certain things will happen year-round to influence buying trends, price drops, and interest rates. This year has been interesting, as we are seeing some incredibly low-interest rates. It is being fueled by other things that are impacting the housing market and even the world - but it leads to NOW being an excellent time to buy a home.

Q: Can I save money by buying in the Fall instead of the Summer?
A: This is dependent upon your area, but for the Lake of the Ozarks, time of year can play a huge roll in the price of a home. Summer is a busy season, where the area is hopping with excitement, and the homes are at their peak in terms of curb appeal and Summer fun. Summer is also a great time of year for moving, and many more homes are listed during the summer months. However, as we move into Fall, you may find that the inventory goes up, prices come down, and it becomes the best time for you to secure your dream vacation home at the Lake of the Ozarks.

Q: What is happening right now to affect the loan rates?
A: There was a little trade deal with Japan that happened, and with solid housing numbers, and hopeful news on the U.S./China trade dispute, it was enough to cancel out the improvement in rates that we had been seeing. There was also a Fed rate cut, and currently, it looks like there is at least a 70% chance the Fed will cut the overnight Fed Funds Rate by .25% by year-end.

What home buyers and those looking to refinance must understand is that Fed rate cuts do not equal lower home loan rates. Fed rate cuts are designed to keep the U.S. economic expansion alive while promoting inflation, and if the Fed is successful in that endeavor, there is a limit to how low home loan rates can go.

On the other hand, if the Fed is unsuccessful and our economy slows further, and our inflation rate cools further, then we will see lower home loan rates in the future. Think bad news is good for home loan rates. This basically means that home loan rates have essentially moved sideways to slightly higher in the past few weeks, but still remain just above three-year lows making it a great opportunity to refinance or purchase a home.

Now Is The Time To Buy

As we move into the holiday seasons, keep in mind that fewer people will want to take on the task of buying a home. This means that not only are the rates looking really good, but you may also have a LOT to choose from. The first step is getting your pre-approval completed, after that, it is time to start shopping! Visit our website and provide the information needed for the pre-approval for your Lake of the Ozarks mortgage. We look forward to working with you over this season as you make your home purchase!

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.