Thursday, June 14, 2018

Celebrating Father's Day at the Lake

Father's Day is this Sunday! Are you going to be celebrating with dad at the beautiful Lake of the Ozarks? Here's a list of fun things for dad to do this weekend! Whether he likes live music or just eating a meal out with his family, dad's sure to have a Happy Father's Day at the Lake this weekend.


Father's Day Weekend Events at the Lake 


Father's Day Weekend at the Lake is going to be a good one! From tons of live music to a golf tournament and Father's Day breakfast, there's something for every dad to enjoy. In addition to the events below, the Lake area has endless dining options for you to take dad out for a special meal, and most of the waterfront restaurants have live music on the weekends this time of year. No matter where you choose to take dad this weekend, he's sure to have a good time with even better company!

 Live Music with Curtis Sansom 
Enjoy live music by a local favorite, Curtis Sansom on Friday, June 15 from 7:30-10:10 pm at the BeachSide Bar at Ozark Yacht Club. Food service at the bar will run from 5-9 pm. This event is open to the public! Come enjoy some country & rock'n'roll tunes.

Rodney Carrington Live in Concert 
Rodney Carrington will be at the Ozarks Amphitheater on Friday, June 15. Doors open at 7 pm and the show starts at 9 pm. For more details and tickets, visit: www.OzarksAmp.com.

 Father's Day 3-Person Scramble 
This Father's Day Weekend, head over to the Eldon Golf Club for a 3-person scramble golf tournament on Saturday or Sunday. Shotgun start at 7:30 am and 2:00 pm each day. For more details, call 573-392-4172.

 Primus with Mastodon Live in Concert 
Head over to the Ozarks Amphitheater on Saturday, June 16 for an evening with Primus and special guest Mastodon. Doors open at 6 pm and the concert starts at 7 pm. For more details and tickets, visit: www.OzarksAmp.com.

Father's Day Breakfast at Captain Ron's 
A special Father's Day breakfast will be served at Captain Ron's from 9 am to 1 pm on Sunday, June 17. For more details, call 573-374-5852.

Your favorite Lake of the Ozarks mortgage lender would like to wish everyone a Happy Father's Day weekend! We hope you can enjoy this weekend with family, celebrating your fathers and grandfathers. If you happen to be looking at homes while you're at the Lake this weekend, keep us in mind for all your Lake of the Ozarks home financing needs!

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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Location: Osage Beach, MO 65065, USA

Thursday, June 7, 2018

Bad Mortgage Advice Homeowners Actually Believe

As a new homeowner, there are a lot of things you're going to have to learn. One of those things is your mortgage. Unfortunately, there are a lot of misconceptions floating around about mortgages. Today's blog from your favorite Lake of the Ozarks mortgage lender discusses some of the bad advice you might hear about getting a mortgage.

1. Don't Bother Getting a Mortgage Pre-Approval. 


You might have heard that a pre-approval isn't really important. People will say a pre-approval isn't "real" and doesn't guarantee you a mortgage. They will say that if you've only just begun looking for a home, it isn't necessary to worry about the mortgage part of things just yet. Unfortunately, that's bad advice. While a pre-approval might not be "official," it can prevent problems down the road. By getting a pre-approval, you'll know how much you can qualify for, and then you can just look at homes in that price range. A pre-approval also gives you a leg up if you find a property and are competing with other buyers that haven't even started the mortgage process yet. A pre-approval tells sellers and real estate agents that you're serious about buying a home.

2. Always Go with the Lowest Interest Rate. 


While obtaining the lowest interest rate possible may seem like great advice, the interest rate isn't the only thing you should be concerned with. You need to take into consideration other associated fees. Each mortgage lender at the Lake of the Ozarks can charge different fees for their services, and this could affect your overall payment amount. You also need to understand that while an adjustable-rate mortgage may give you the best interest rate to begin with, those rates change with the market and could go up significantly. It's important that you take everything into careful consideration instead of just focusing on the interest rate itself.

3. Borrow the Maximum Amount You're Approved For. 


Who doesn't want the biggest and best house they can qualify for? You got approved for the loan, so why not use it all, right? Wrong. It's always best to live just under your means; you never know when life will throw you a curve ball of expenses. You could experience a layoff or medical issues. If you're spending everything you have on your mortgage, there's nothing left for emergency expenses. This can easily cause you to default on your loan and could even result in foreclosure. Be sure to come up with a budget and don't purchase a house with a payment that you're not comfortable making.

If you're thinking about purchasing a home at the Lake of the Ozarks, your first step should be to talk to a mortgage professional like me. As your lender, I'll work with you every step of the way, making sure to give you the best advice for your unique situation. Give me a call at 573-746-7211 to get started on your Lake of the Ozarks home financing 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.

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Location: Osage Beach, MO 65065, USA

Tuesday, May 29, 2018

7 Steps to Take Before the House Hunting Begins

You're thinking about buying a new home at the Lake of the Ozarks. This is an exciting time, but make sure you don't get too swept up in that excitement of finding the house of your dreams. Before you even start looking at houses, you should follow these steps:

1. Start Saving for a Down Payment. 


Depending on the loan program you are looking to obtain, you don't necessarily have to have the traditional 20% down payment these days, however, the more you can put down, the better off you'll be. Not only will you start this transaction off with a little equity in your home, but you're also likely to get better rates and terms if you have a nice size down payment.

2. Check Your Credit. 


Your credit score plays a big role in getting approved for a mortgage at the Lake of the Ozarks. If you don't have any idea what your credit score is, it's a good idea to take a look. There might be ways you can improve that score before you apply for a mortgage. You'll also want to check your credit report for any mistakes. If you're worried about your credit score, talk to your mortgage professional for advice on how to work on repairing it.

3. Get a Mortgage Pre-Approval. 


Before you dive into the house hunting process, it's important that you talk to a mortgage lender at the Lake of the Ozarks and get a mortgage pre-approval. The pre-approval is the first step any serious home buyer should take. Not only does the process help you determine what you can afford, it shows both sellers and real estate agents that you're serious about buying a home. Real estate agents will be more eager to work with you and sellers will likely be willing to negotiate and/or accept your bid over those who don't have a pre-approval.

4. Come Up with a Budget. 


Once you have your pre-approval, you'll know how much you'll be able to borrow. You can use this information to come up with an affordable budget for your homeowner expenses. Remember that you need to consider more than just your monthly mortgage payment. You need to consider taxes, homeowner's insurance and any emergency expenses that may arise. You no longer have a landlord to take care of all the home maintenance issues that can come up unexpectedly.

5. Find a Good Real Estate Agent. 


With all the resources available today, it might seem fine to start your home search on your own. While you might be able to find the perfect home by browsing listings online, you don't have the expertise on how real estate transactions work. Your agent does so much more than just show you homes you would be interested in. They're there to work with you through the process to help you understand the paperwork and transaction details, as well as answer any questions you may have. They can also help with negotiations and ensure the entire process runs smoothly.

6. Make a Needs and Wants List. 


Another step you should take before looking at properties is to make a list of things you need in a home and things you would want in a home. Unless you're building your own home, you're likely not going to find one that has everything you desire. You're going to have to determine what's most important and then make some compromises. Making a list will help you narrow down the properties that you will go look at, and keep you from wasting any time.

7. Prepare Yourself Emotionally. 


Buying a home can be an emotional process. It's important that you don't let your emotions cloud your judgement. Buying a home is one of the largest purchases you'll ever make in your life. It's important that you make financially responsible decisions in regard to a home purchase. Therefore, it's a good idea to prepare yourself emotionally before you start looking at homes. You don't want to get attached to something you can't afford.

If you're ready to start the home buying process, give me a call at 573-746-7211 today! As your Lake of the Ozarks mortgage lender, I'm here to help you with everything from the pre-approval to the closing. I'll discuss your options, offer competitive interest rates and back it up with the first-class service you deserve!

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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Location: Osage Beach, MO 65065, USA

Wednesday, May 23, 2018

Understanding Escrow Accounts

As a first-time home buyer, you're introduced to a variety of terms that you may have never heard before. As your Lake of the Ozarks mortgage lender, I'm here to help you understand every aspect of the mortgage process. Today's blog focuses on escrow accounts, what they are and what it has to do with you and your mortgage at the Lake of the Ozarks.

What is an Escrow Account? 


In the mortgage industry, an "escrow account" refers to an account setup by your lender to hold the money that will pay certain property-related expenses. This includes your homeowner's property taxes and homeowner's insurance. Many lenders require this account to ensure that these expenses are being paid in full and on time.

How Does an Escrow Account Work? 


A portion of each month's mortgage payment will go into this account to cover these expenses. Rather than receiving a big bill once or twice a year to pay these expenses, they will be paid through your lender out of this account. This breaks up the payment into smaller pieces so that you don't have to come up with all the money at once. Instead, you are able to pay all your mortgage-related expenses in one easy monthly payment. It's just less bills that you have to worry about.

Escrow Account Advice 


While escrow accounts are often required by your lender, that's not always the case. In the event an escrow account is not mandatory, you should consider electing to have one. Without one, you will have to plan on paying these large expenses yourself. You will need to carefully budget for these expenses so they don't catch you by surprise. If you fail to pay your property taxes, you could be fined, have a tax lien placed on your property or even face a foreclosure on your property.

For any questions regarding escrow accounts or home loans at the Lake of the Ozarks, give the best mortgage lender at the Lake of the Ozarks a call at 573-746-7211. I'm here to work with you every step of the way! I'll discuss your options, offer competitive interest rates and back it up with the first-class service you deserve. Let me help you into your dream home at the Lake of the Ozarks!

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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Location: Osage Beach, MO 65065, USA

Friday, May 18, 2018

Getting a Mortgage Loan After Financial Hardship

Many people go through financial hardship at some point in their lives, and that can have negative effects on other aspects of life. In some cases, financial hardship can lead to bankruptcy, foreclosure or a short sale. Unfortunately, this can make it more difficult to obtain a new mortgage loan at the Lake of the Ozarks, even after you have your financial situation under control again. Most people think they have to wait at least 7 years before they can apply again, but this isn't necessarily the case anymore. Keep reading to learn about the 2018 guidelines for various types of mortgages.


2018 FHA Guidelines


For an FHA loan, the following guidelines must be met before you can apply for a home loan after a financial hardship:
  • Bankruptcy - 2 year waiting period after discharge of a Chapter 7 Bankruptcy or 1 year waiting period after discharge of a Chapter 13 Bankruptcy (Be sure not to confuse the discharge date with the date the bankruptcy was filed).  
  • Foreclosure - 3 year waiting period after the sale/deed transfer date. 
  • Short Sale / Deed in Lieu - 3 year waiting period after the sale/deed transfer date. 
In addition to the above waiting periods, you much have re-established your credit, with no late payments in the past 12-24 months, depending on the type of hardship. 

2018 VA Guidelines 


For a VA loan, the following guidelines must be met before you can apply for a home loan after a financial hardship: 
  • Bankruptcy - 2 year waiting period after a Chapter 7 Bankruptcy. For a Chapter 13 Bankruptcy, if you have finished making all payments satisfactorily, the lender may conclude that you have re-established satisfactory credit. If you've satisfactorily made at least 12 months' worth of the payments and the Trustee or Bankruptcy Judge approved of the new credit, the lender may give favorable consideration. 
  • Foreclosure / Deed in Lieu - 2 year waiting period after the sale/deed transfer date. 
  • Short Sale - The VA does not recognize a short sale as a derogatory event. Therefore, if you are able to credit qualify for a VA loan, the short sale would not prevent you from being eligible. 
In addition to the above waiting periods, credit must be re-established, with a minimum 620 credit score. 

2018 USDA Guidelines 


For a USDA loan, the following guidelines must be met before you can apply for a home loan after financial hardship: 
  • Bankruptcy - 3 year waiting period after the discharge of a Chapter 7 or 13 Bankruptcy. 
  • Foreclosure - 3 year waiting period after the sale/deed transfer date. 
  • Short Sale / Deed in Lieu of Foreclosure - If you had big issues, the deed in lieu of foreclosure will be viewed as a foreclosure and you would want to wait no less than 3 years if the score is under 640.  If you have a credit score over 640, you may be able to apply after 1 year. 

2018 Conventional Loan Guidelines 


For a conventional loan, the following guidelines must be met before you can apply for a home loan after financial hardship: 
  • Bankruptcy - 4 year waiting period after your Chapter 7 Bankruptcy has been discharged. For a Chapter 13 Bankruptcy, there is a 2 year waiting period. 
  • Foreclosure - 7 year waiting period after the sale date of your foreclosure. 
  • Short Sale / Deed in Lieu of Foreclosure - 4 year waiting period from the date your name was removed from the title for a short sale or deed in lieu not included in a bankruptcy.
In addition to the above waiting periods, credit must be re-established, with a minimum of 620 credit score. Fannie Mae and Freddie Mac have reduced waiting periods in cases of extenuating circumstances. 

If you're concerned about a past financial hardship affecting your current home options, give me a call at 573-746-7211. As your Lake of the Ozarks mortgage lender, I'll work with you to determine your options and offer advice for how to overcome any challenges you may be facing with homeownership at the Lake of the Ozarks.

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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Location: Osage Beach, MO 65065, USA

Thursday, May 10, 2018

Spend Mother's Day at the Lake of the Ozarks

Mother's Day is this weekend! Celebrate your Mothers and Grandmas this weekend by bringing them to a delicious brunch at the Lake of the Ozarks. From omelets and other traditional breakfast food to salmon and pork, each of these Mother's Day Brunches has something amazing to offer this Sunday.

Mother's Day Brunch at Tan-Tar-A 


Celebrate the women in your life at Tan-Tar-A Resort this Mother's Day! Brunch will be held in the Grand Ballroom on Sunday, May 13 from 11 am to 2 pm. Reservations are required, so call 573-348-8619. The menu will include Applewood Smoked Ham with Bourbon Praline Glaze, Carved Prime Rib with Au Jus and Horseradish Cream, Chicken Bonne Femme with White Wine Mushroom Cream, Seafood Stuffed Pasta Shells with Sauce Newburg, Griller Spring Vegetable Salad with Lavender Vinaigrette and much more!

Mother's Day Brunch at Captain Ron's


Head over to Captain Ron's on Sunday, May 13th for a Mother's Day Brunch served from 9 am to 1 pm. Call 573-374-5852 for more details. Also happening this weekend is their Ozark Pirate Fest! Learn more at www.CaptainRonsattheLake.com.

Mother's Day Brunch at Lake Valley Country Club 


Traditional breakfast items, omelet station, salads, potatoes, vegetables, 3 entrees and assorted desserts are just some of the items you'll find at the Mother's Day Brunch at Lake Valley Country Club this Sunday, May 13th. Brunch will be served from 9 am to 2 pm. Call 573-346-7213 for reservations.

Mother's Day Brunch at The Lodge of Four Seasons 


Head to The Lodge of Four Seasons for a Mother's Day Brunch in the HK's Dining Room on Sunday, May 13th from 10 am to 2 pm. Reservations are highly recommended - call 573-365-3000. Menu selections will include a raw bar, omelet station, carving station an dessert bar.

Mother's Day Brunch at Osage National 


Come celebrate mom with great food and scenery at Osage National! Brunch will be served from 10 am to 2 pm on Sunday, May 13th. Reservations are required, so call 573-365-1950 ext. 23. Menu selections include assorted fruit, scrambled eggs, applewood bacon, biscuits and gravy, french toast, baked ham, roast beef, mashed potatoes, salads, mini cheesecakes, cookies and more!

Mother's Day Brunch at Old Kinderhook 


Treat mom to a Mother's Day Brunch in The Trophy Room at Old Kinderhook on Sunday, May 13th. Reservations are required, so call 573-317-3560. Some of the menu items include fresh baked pastries, smoked salmon, scrambled eggs, biscuits and gravy, Belgian waffles, prime rib, glazed pit ham, garlic mashed potatoes, vegetables, carrot cake and fresh baked cookies.

Mother's Day Features at H. Toad's Bar & Grill 


Head over to H. Toad's Bar & Grill for a very special selection of features offered for your very special Mother on Mother's Day. Features crafted by H. Toad's certified Chef, Thomas Robinett, promise to be pleasing to the eye and the palate for a meal to remember. Call 573-365-5620 for more information and to make a reservation.

Mother's Day Brunch at the Inn at Grand Glaize


Treat mom to a delicious Sunday brunch at the Inn at Grand Glaize on Sunday, May 13th from 10 am to 2 pm. The menu includes made to order omelettes, hickory smoked bacon, a waffle station, carrot cake, fruit cobblers, vegetables, scalloped potatoes, salads, dinner rolls, pineapple honey glazed ham, chicken Alfredo and prime rib. Call 573-348-4731 for more details.

You can always expect a wide variety of activities and holiday events happening at the Lake of the Ozarks all year round. If you're thinking about relocating to the Lake of the Ozarks or buying a second home here, I'm here to help with all your home financing needs! Call 573-746-7211 to discuss your home loan options with a professional mortgage lender at the Lake of the Ozarks.

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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Location: Osage Beach, MO 65065, USA

Thursday, May 3, 2018

3 Ways to Pay Off Your Mortgage Sooner

Who doesn't want to have their mortgage paid off? That's just one less monthly bill you have to worry about. Most mortgages are financed for 30 years, but that doesn't mean you have to take the full 30 years to pay it back. Today's blog from your favorite Lake of the Ozarks mortgage lender offers several different ways that you can pay off your mortgage sooner.

1. Make a Larger Monthly Payment. 


Probably one of the easiest ways to pay off your mortgage faster is to just add a little extra to each of your monthly payments. Consider creating a household budget. Look at your monthly expenses and compare it to your monthly income. See if there's any extra money that you could apply to your monthly mortgage payment. Talk to your mortgage lender at the Lake of the Ozarks to make sure that the extra you are paying is being applied to the principle of the loan. This will help you pay off your mortgage faster and save money on overall interest. 

2. Make an Extra Payment. 


Maybe you don't have enough extra each month to add on to your payment, but that's okay. Do you get a yearly bonus at work? Do you get paid commissions? Do you have a nice sized tax return? Try adding in a 13th payment somewhere during the year when you have some extra cash to spare. You can make an extra payment whenever it's convenient for you. Do that each year and you'll be able to pay off your mortgage sooner than expected. 

3. Refinance Your Loan. 


If you've been paying on a 30-year loan for some time, you might consider getting your home loan refinanced at the Lake of the Ozarks. Interest rates are currently still near historic lows, and interest rates on a 15-year loan are typically less compared to the 30-year loans. If you can reduce your interest rate and even possibly shorten the term, this accelerates your repayment, saves you on interest and may not even increase your monthly payment. Talk to your mortgage professional about your refinancing options. 

Learn more about your options by talking to your lender today about your Lake of the Ozarks home financing options. Your circumstances may be different now than when your first bought your home. You might be able to get a better interest rate or make a larger monthly payment. Give me a call at 573-746-7211 with any questions you may have regarding your home loan at the Lake of the Ozarks.

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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Location: Osage Beach, MO 65065, USA
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