1. Evaluate Your FinancesIf you considering a real estate purchase in 2020, the very first step is to take a look at your finances and start working with your mortgage lender at the Lake of the Ozarks. Take a look at what you earn, your expenses, and how much you have in savings. This can help you determine whether you are ready to buy a home or what you need to do to be ready.
2. Be Smart With CreditYour credit score will be key when determining your interest rate. Taking the appropriate steps to improve your credit can make a huge difference when it comes to buying a home. Set up a meeting with your mortgage lender to discuss the different steps you can take to help with your credit score.
3. Keep Your Goal in SightOnce you have evaluated your finances, you can see where there is room for improvement, or get the green light to pursue your purchase. If you are saving money for your downpayment, you can start by reducing optional expenses at the start of the year, and set up a monthly automatic deposit into your savings account.
4. Start the Pre-Approval ProcessEven before starting the house-hunting process, the most important thing you can do is secure your pre-approval letter from your Lake of the Ozarks lender. The information in the application will allow us to determine the maximum amount you are qualified to borrow for a home loan. When you have your pre-approval letter prior to looking for a property, it can make the process smoother, faster, and it can be very helpful in competitive markets.
5. Organize Your PaperworkThere can be a lot of paperwork involved when buying a home, so it’s important to get organized as early as possible. When you are applying for your home loan, you’ll want to have copies of your tax returns, paycheck stubs, bank and asset statements and W-2 information. There may be additional documents that you will need, so having a system for organizing your paperwork can be key.
6. Build a Team You TrustWhen you are purchasing a home, the team that you count on to help you through the process can make all of the difference. You can count on Team Lasson to help you navigate the home buying process! Our team has over 20 years of experience helping individuals purchase the home of their dreams, and we look forward to helping you through the process.
2020 Is Your Year!Owning a home at the Lake of the Ozarks is a dream come true for so many homebuyers! If you have been thinking about making an investment in a vacation home, there is no time like the present! In fact, now is one of the best times to purchase a home! The market has been great for our homebuyers and we want you to be one of them. Visit our website to learn more about our mortgage company at the Lake of the Ozarks, and you can also fill out your pre-approval application as well (www.YourLakeLoan.com). Happy New Year from Team Lasson! We look forward to working with you this year!
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Senior Loan Officer
NMLS #: 493712
4655 B Osage Beach Parkway
Osage Beach, MO 65065
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.