Modular vs. Manufactured Home

In the ever-evolving landscape of homeownership, prospective buyers are presented with a number of options, each catering to different preferences, budgets, and lifestyles. Two popular choices that often spark debate are modular and manufactured homes. Understanding the distinctions between these housing options is crucial, especially when it comes to securing a home loan.

Modular homes are constructed in sections or modules off-site and then transported to the desired location for assembly. Unlike manufactured homes, they often adhere to the same building codes and standards as traditional stick-built homes. This can be a significant advantage when seeking financing, as modular homes are typically viewed more favorably by lenders.

Manufactured homes, on the other hand, are built entirely in a factory and transported to the site as a complete unit. While these homes offer affordability and quicker construction timelines, they are subject to different building codes, which can impact loan eligibility. Financing for manufactured homes may come with more stringent criteria due to perceived differences in durability and long-term value, but that shouldn’t stop you from seeking this option if it works for you!

When navigating the path to homeownership with either modular or manufactured homes, it's crucial to work closely with your lenders who specialize in these types of properties. Lenders experienced in modular and manufactured home loans can guide buyers through the intricacies of the financing process, ensuring that the chosen home aligns with both their preferences and financial capabilities.

In conclusion, the choice between modular and manufactured homes extends beyond architectural preferences; it significantly influences the financing journey. Prospective buyers should weigh the benefits and drawbacks of each option and collaborate with their knowledgeable lender to secure a loan that transforms their homeownership dreams into reality.

Team Lasson is here for all of your home buying needs!  If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started.  We can help you determine what loan program works best for your financial goals.  The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks.  Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.

Michael Lasson

Senior Mortgage Banker

NMLS #:  493712

Flat Branch Home Loans – Team Lasson

2882 Bagnell Dam Blvd

Lake Ozark, MO 65049

Cell:  (573) 216-7258

Email:  teamlasson@fbhl.com

Website:  www.yourlakeloan.com

**The postings on this site are my own and do not necessarily represent Flat Branch Home Loans positions, strategies, or opinions.

Flat Branch Home Loans NMLS 224149. A Division of Flat Branch Mortgage Inc. For more licensing information, visit NMLSConsumerAccess.org

Must-Have Items for Every Homeowner this Fall

 

Fall is a season for colorful decorations, warm colors, and relaxation. It's the perfect opportunity to give your house a seasonal makeover as the leaves turn golden and the air becomes crisp. Adding a few unique pieces to your home can make it feel even cozier this season.

Seasonal Appliances

Comfort is essential in the fall, and having the appropriate appliances may make your season even more enjoyable.

• Slow Cooker: After a chilly day, a slow cooker is great for making yummy soups, stews, and chili, so you can return home to a warm meal.
• Electric Fireplace: An electric fireplace is a warm substitute for a traditional one. It's cozy and soothing, ideal for cooler fall evenings.
• HEPA-filtered air purifier: It's crucial to maintain clean and fresh indoor air as windows are closed more frequently. An air purifier keeps your house feeling fresh and helps alleviate allergies.
• Coffee Maker with a Timer: Wake up to the aroma of freshly brewed coffee. Choose one that has a built-in timer, so you can set it the night before and have a warm cup of coffee when you wake up.

Cozy, but Functional Decor

Transform your home into a fall retreat with decor that reflects the season’s warmth. 

• Plaid Throw Blankets: Nothing says fall like plaid. To add coziness and texture, cover your chairs or couch with a few plaid throw blankets.
• Autumn Scented Candles: Enhance your home with the aromas of fall, such as cinnamon, apple cider, and pumpkin spice. Scented candles are a great complement to any space and help to create a warm mood.

• Seasonal Wreaths: A wreath on your front door is a welcoming touch. To welcome your guests with a festive vibe, consider one that features miniature pumpkins, pinecones, or fall foliage.
• LED Lanterns: To create a cozy and welcoming ambiance, place lanterns with LED candles or fairy lights on your porch, mantel, or dining table.
• Decorative Pumpkins: From classic orange to white or metallic finishes, decorative pumpkins are a must-have. Place them across your house or arrange them as a dinner table centerpiece.

Outdoor Essentials

Don’t forget about your outdoor space! Fall is a great time to take in the crisp air and beautiful setting.

• Fire Pit: An outdoor fire pit is perfect for those cool fall nights. Enjoy the warmth, tell stories, and make s'mores with your loved ones gathered around.
• Cozy Outdoor Seating: Replace the worn-out cushions and blankets on your patio furniture. To make the area feel cozy, add a couple outside pillows in fall colors.
• Fall-Themed Doormat: Greet your guests with a fun and festive doormat. Select one with a fall leaf, pumpkin, or even one with a plaid pattern.
• Outdoor String Lights: To create a dreamy ambiance, hang string lights across your patio or garden. They're ideal for entertaining seasonal get-togethers or just spending a peaceful evening outside.

Entertaining Essentials

Fall is a time to get together with loved ones. Make sure you're prepared to host!

• Cheese Board Set: When hosting fall parties, a quality cheese board set is an essential. For a rustic, seasonal presentation, arrange a variety of cheeses, nuts, and fruits on a wooden board.
• Warm Beverage Station: In your kitchen or dining room, set up a hot chocolate or cider station. Add mugs, marshmallows, cinnamon sticks, and flavored syrups for something fun and interactive.
  
  
  
• Seasonal Tableware: Invest in some bowls, plates, and napkins with fall themes. Whether you're hosting a casual dinner or a Thanksgiving meal, using seasonal tableware gives your meals a festive look.

Fall is a season that invites warmth, comfort, and togetherness. You can make the most of the season by bringing seasonal objects into your home. Whether you rent or own, creating an atmosphere that feels warm and festive all fall long is a sure way to welcome the new season and say goodbye to summer.

Team Lasson is here for all of your home buying needs!  If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started.  We can help you determine what loan program works best for your financial goals.  The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks.  Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.

Michael Lasson

Senior Mortgage Banker

NMLS #:  493712

Flat Branch Home Loans – Team Lasson

2882 Bagnell Dam Blvd

Lake Ozark, MO 65049

Cell:  (573) 216-7258

Email:  teamlasson@fbhl.com

Website:  www.yourlakeloan.com

**The postings on this site are my own and do not necessarily represent Flat Branch Home Loans positions, strategies, or opinions.

Flat Branch Home Loans NMLS 224149. A Division of Flat Branch Mortgage Inc. For more licensing information, visit NMLSConsumerAccess.org

 

Fall Events 2024

 

           Fall Happenings at Lake of the Ozarks

 

38th Annual Eldon Turkey Festival

Saturday, September 28^th 9:00 am – 4:00 pm    

Downtown Eldon

2 Stages for Entertainment, Parade, children’s games, old time machine show, demonstrations

 

7th Annual Lake of the Ozarks Food Truck Festival

Saturday, September 28^th 10:00 am – 7:00 pm

Sunday, September 29^th 10:00 am – 5:00 pm

Ozark Amphitheater - Camdenton

 

Bird Dog Fun Day: Quail Forever Event

Sunday, September 29^th

WHERE: Big Buffalo Outfitters, Cole Camp, MO

The Lone Buffalo Chapter invites you to join us for a Bird Dog Fun Day!

It's a fun day for you and your dog just in time for hunting season. All dogs, including puppies, are welcome.

Your registration includes:

• 3 Chukar for a field hunt
• 1 Year Quail Forever membership
• Lunch
• Door prizes
• Retrieving competition
• Raffle
• Silent auction

LIMITED SPACE! Click here now to register.

 

Jacob's Cave Fall Swapping Days

Thursday - Sunday, October 3^rd – 6^th

Jacob's Cave Meadowlands

$5 & Up/Vehicle

2024 Lake of the Ozarks Fall Big Bass Bash

Saturday, October 5^th & 6^th

Public Beach #2, Lake of the Ozarks State Park (Grand Glaize Beach)

 

2024 Versailles Olde Tyme Apple Festival  

Saturday & Sunday, October 5^th – 6^th

Versailles, MO

 

Lake of the Ozarks Fall Boutique Crawl - Girls' Day Out!

Saturday, October 5th, 2024 @ 9:00 am – 6:00 pm

 

The Cave Pumpkin Patch

Saturdays & Sundays in October 2024, 10 a.m. - 5 p.m. 

The Cave Pumpkin Patch

123 Swinging Bridges Road

Brumley, MO

 

Mecca Farms Pumpkin Patch

Saturdays & Sundays in October 2024, 10 a.m. - 5 p.m. 

Mecca Family Farm

Roach, MO

 

Annual City of Osage Beach Fall Festival  

Saturday, October 12th, 2024 @ 10:00 am – 4:00 pm

Osage Beach City Park

 

12th Annual GCMA Classic Country Music Jamboree

Sunday, October 13th, 2024 @ 1:00 pm

The Lodge of Four Seasons

315 Four Seasons Dr

Lake Ozark, MO 65049

 

23rd Annual Citizens Against Domestic Violence CADV Brunch

Wednesday, October 16th, 2024 @ 11:00 am

Regalia Hotel & Conference Center

250 Racquet Club Dr

Lake Ozark, MO 65049

 

LOZ Idiots Club Fundraiser: Drink Jolly Dry (Crazy Party)

Saturday, October 19th, 2024 @ 11:00 am – 6:00 pm

Jolly Rogers Grub & Grog

28443 Polk Dr

Rocky Mount, MO 65072

 

Annual Fall Festival at Missouri Forget-Me-Not Horse Rescue & Sanctuary

Saturday, October 19th, 2024 @ 11:00 am – 3:00 pm

Missouri Forget Me Not Horse Rescue & Sanctuary

981 Heritage Road

Linn Creek, MO 65052

Team Lasson is here for all of your home buying needs!  If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started.  We can help you determine what loan program works best for your financial goals.  The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks.  Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.

Michael Lasson

Senior Mortgage Banker

NMLS #:  493712

Flat Branch Home Loans – Team Lasson

2882 Bagnell Dam Blvd

Lake Ozark, MO 65049

Cell:  (573) 216-7258

Email:  teamlasson@fbhl.com

Website:  www.yourlakeloan.com

**The postings on this site are my own and do not necessarily represent Flat Branch Home Loans positions, strategies, or opinions.

Flat Branch Home Loans NMLS 224149. A Division of Flat Branch Mortgage Inc. For more licensing information, visit NMLSConsumerAccess.org

Love Your Space

 

Creating a warm and inviting atmosphere in your home doesn't necessarily require a major overhaul or a hefty budget. Often, it's the small, thoughtful touches that can make a significant difference. In this blog, we'll explore a variety of easy and budget-friendly ways to make your home feel homier.

Introduce Soft Textures:

One of the quickest ways to add comfort to any space is by incorporating soft textures. Invest in plush throw pillows, cozy blankets, and area rugs. Not only do they add warmth, but they also create a sense of luxury and relaxation.

Personalize with Memories:

Infuse your space with personal memories by displaying photographs and sentimental items. Create a gallery wall or dedicate a corner to showcase your favorite moments. Surrounding yourself with memories can instantly make your home feel more intimate and special.

Embrace Natural Elements:

Bringing a bit of the outdoors inside can have a calming effect. Consider incorporating houseplants, flowers, or even small succulents into your decor. Not only do they add a touch of nature, but they also contribute to improved air quality.

Play with Lighting:

The right lighting can significantly impact the ambiance of a room. Opt for soft, warm-toned bulbs and experiment with different lighting fixtures. Consider adding table lamps or string lights to create a cozy and inviting atmosphere, especially in living spaces.

Create Cozy Nooks:  

Designate specific areas in your home as cozy nooks. Arrange a reading corner with a comfortable chair and good lighting or create a snug window seat with cushions. Having dedicated spaces for relaxation enhances the overall comfort of your home.

Upgrade Bedding and Linens:

Investing in high-quality bedding and linens can make a substantial difference in the comfort of your home. Treat yourself to soft, luxurious sheets and fluffy pillows. You'll be amazed at how such small changes can elevate the coziness of your bedroom.

Scents and Aromas:

A pleasant scent can instantly create a welcoming atmosphere. Consider using scented candles, essential oil diffusers, or potpourri to infuse your home with inviting fragrances. Opt for scents that evoke positive memories or promote relaxation.

Declutter and Organize:

A clutter-free space not only looks more appealing but also contributes to a sense of calm. Take the time to declutter and organize your belongings. Invest in stylish storage solutions to keep things tidy and visually pleasing.

Incorporate Warm Colors:

Colors have a powerful impact on our emotions. Opt for warm and earthy tones like soft browns, muted oranges, and warm greys. These colors create a cozy and welcoming atmosphere, making your home feel more inviting.

DIY Art and Crafts:

Inject your personality into your home by creating DIY art and crafts. Whether it's handmade wall art, customized decor items, or repurposed furniture, these personalized touches add character and warmth to your living space.

In conclusion, transforming your home into a cozy haven doesn't have to be a daunting task. By incorporating these simple and budget-friendly ideas, you can create a space that not only looks good but also feels like a true reflection of your personality and style. Remember, it's the little details that turn a house into a warm and welcoming home.

Team Lasson is here for all of your home buying needs!  If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started.  We can help you determine what loan program works best for your financial goals.  The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks.  Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.

Michael Lasson

Senior Mortgage Banker

NMLS #:  493712

Flat Branch Home Loans – Team Lasson

2882 Bagnell Dam Blvd

Lake Ozark, MO 65049

Cell:  (573) 216-7258

Email:  teamlasson@fbhl.com

Website:  www.yourlakeloan.com

**The postings on this site are my own and do not necessarily represent Flat Branch Home Loans positions, strategies, or opinions.

Flat Branch Home Loans NMLS 224149. A Division of Flat Branch Mortgage Inc. For more licensing information, visit NMLSConsumerAccess.org

Why Choose an FHA Loan?

 An FHA loan is a mortgage loan the Federal Housing Administration (FHA) insures. The FHA is part of the U.S. Department of Housing and Urban Development (HUD). This protects the lender if the borrower defaults on the loan, making it less risky for lenders to extend mortgages to individuals who might not qualify for conventional loans.

FHA loans have lower financial requirements, which can help borrowers get the mortgage they need to finance a home purchase with a lower down payment. First-time home buyers and low-to-moderate-income households typically obtain an FHA loan when they don’t qualify for a conventional loan.

Benefits Of An FHA Loan

FHA loans offer borrowers advantages to increase accessibility and affordability. Here are the benefits of an FHA loan to expect:

1. Lower Minimum Credit Scores

FHA loan credit score minimum requirements are typically lower than conventional financing, depending on the lender. This can help credit-challenged borrowers qualify for a mortgage.

2. Low Down Payments

The down payment requirements for FHA loans are 3.5% of the loan amount for borrowers with credit scores of 580 or higher. For comparison’s sake, conventional loans usually require 5% down unless you’re a first-time home buyer or make not more than 80% of the median income in your area.

Remember, the down payment is separate from closing costs, which cost 3% to 6% of the purchase price. So, you’ll need funds to cover both the down payment and the closing costs, including origination fees, MIP fees and appraisal fees. Fortunately, the reduced down payment could help you afford the closing costs.

3. Favorable Interest Rates

FHA loans have backing from the federal government, meaning your lender will still receive payment if you default on your loan. For this reason, FHA loans have competitive interest rates, increasing the affordability of your monthly mortgage payment.

4. Compensating Factors for Applications

FHA loans help borrowers with blemished financial situations, such as a lower credit score or income. Compensating factors increase the likelihood of approval when you apply for a loan. Specifically, lenders consider your cash reserves, income from other sources, monthly debt payments, how much the loan increases your housing costs and your desired home’s energy-efficiency. These aspects of your application can offset a DTI or credit score that isn’t ideal as long as DTI is still within the product limits.

5. Repeated Use

FHA loans are advantageous for first-time home buyers because of the relaxed financial constraints. However, borrowers can use them as often as they wish. As a result, you can apply for an FHA loan whether you’re buying your first home or downsizing for retirement.

Other FHA Loan Requirements

1. Appraisal and Inspections

Because the government requires homes to meet several minimum quality standards, borrowers must pay for an appraisal. The FHA appraiser will come to the home and spend a few hours inspecting it for issues. If they discover any, it’s up to the buyer to negotiate with the seller over fixing the problems.

2. Mortgage Insurance Premiums

FHA loans require borrowers to pay mortgage insurance premiums (MIPs) at closing and throughout the life of the loan. Specifically, you’ll pay 1.75% of the loan amount at closing as your upfront MIP. There will be an additional MIP included each month in your mortgage payment. The upfront MIP can be included in your loan amount instead of paying the lump sum at closing.

The Bottom Line

An FHA loan allows first time home buyers with low to moderate incomes and less than 20% down payment funds to achieve homeownership. The appeal of FHA loans lies in their lower financial requirements, including a reduced down payment, more flexible credit score criteria and less strict debt-to-income ratio requirements. These features make homeownership more accessible to individuals who are unable to qualify for conventional loans.

As with any financial decision, borrowers should explore all loan options to make an informed choice that aligns with their homeownership goals.

Team Lasson is here for all of your home buying needs!  If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started.  We can help you determine what loan program works best for your financial goals.  The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks.  Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.

Michael Lasson

Senior Mortgage Banker

NMLS #:  493712

Flat Branch Home Loans – Team Lasson

2882 Bagnell Dam Blvd

Lake Ozark, MO 65049

Cell: (573) 216-7258

Email:  teamlasson@fbhl.com

Website:  www.yourlakeloan.com

**The postings on this site are my own and do not necessarily represent Flat Branch Home Loans positions, strategies, or opinions.

Flat Branch Home Loans NMLS 224149. A Division of Flat Branch Mortgage Inc. For more licensing information, visit NMLSConsumerAccess.org

 

VA Loans

 

Why Should You Choose VA?    

At Flat Branch Home Loans, we strive to provide homes for those who have sacrificed everything so we can live peacefully. If you’re an active, discharged or medically discharged veteran, and have ever thought to yourself: “I’d like to use my benefits for a home loan,” we have a great, in-house opportunity as a thank you for your service:

Designed to promote homeownership, the U.S. Department of Veteran Affairs (VA) loan is made by lenders and guaranteed for eligible veterans to purchase their dream home.

Despite its broad resources, only 10% of the 25 million veterans have taken advantage of this benefit. This loan is meant to honor our heroes, and we want to make sure every eligible veteran and active member know how this loan works and when it works best, so they can live the life they deserve.

What Is It?

The U.S. Department of Veterans Affairs wants to help service members, veterans, and surviving spouses become homeowners. VA provides a home loan guarantee benefit and other housing-related programs to help you build, repair and retain your dream home. And with less stringent rules, 80% of VA borrowers who otherwise could not be covered by conventional loans were able to purchase their home.

This gift has built-in protections for those who’ve protected us, which leads to more competitive rates and terms for our nation’s heroes.

What Makes It So Great?

No Down Payment / 100% Financing

It’s nearly impossible to find a loan product that gives the borrower full financing. This is the most significant benefit of the VA as it gives the borrower the power to purchase a home with no money down.

No Monthly Mortgage Insurance

No private mortgage insurance (PMI) means monthly payments are more affordable.

Not Limited to First-Time Home Buyers

A VA loan can be used to finance your entire purchase or refinance. This hard-working loan can even help repair and improve your home, too, with energy-saving features such as solar heating, water heaters, insulation, storm windows, and other efficiency improvement loans approved by both the lender and the VA.

And there’s even more:

• No prepayment penalties
   
• Counseling and assistance in the event of financial difficulty
   
• Lower credit score requirement
   
• Higher allowable debt-to-income ratios than most other loans
   
• Potential for two VA loans at the same time  
   

But Do I Qualify?

Both veterans and active-duty service members may qualify.

But fitting into just one or more of these categories will be enough:

• Military members who have served 181 days on active duty or three months during war time
   
• People who have spent at least a half-dozen years in the National Guard or Reserves
   
• Spouses of fallen heroes
   

We work hard to ensure that we are able to give back to as many of our heroes as possible, so their dream home is achievable and within reach. Even if you think you’re not qualified for an VA loan, contact Michael Lasson or Michelle Lasson, with Team Lasson, at Flat Branch Home Loans (who are VA-approved) to find out for sure.

Team Lasson is here for all of your home buying needs!  If you’re thinking about making the leap into home ownership in the near future, please contact us today to get started.  We can help you determine what loan program works best for your financial goals.  The first step in preparing for your big purchase is to get pre-approved for a mortgage at Lake of the Ozarks.  Please visit www.yourlakeloan.com or give us a call at (573) 216-7258 to get started.

Michael Lasson

Senior Mortgage Banker

NMLS #:  493712

Flat Branch Home Loans – Team Lasson

2882 Bagnell Dam Blvd

Lake Ozark, MO 65049

Cell:  (573) 216-7258

Email:  teamlasson@fbhl.com

Website:  www.yourlakeloan.com

**The postings on this site are my own and do not necessarily represent Flat Branch Home Loans positions, strategies, or opinions.

Flat Branch Home Loans NMLS 224149. A Division of Flat Branch Mortgage Inc. For more licensing information, visit NMLSConsumerAccess.org