Home Purchases 101 - The Basics of Purchasing your Home

Congratulations to those that have made the decision to buy a new home and happy planning to those still considering!! There are many important things to consider throughout the process, especially if you're a first-time home buyer.   Here is some information that will help keep you on track .

In General....

• A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Residential Mortgage Lender and real estate agent, it should be an efficient, pleasant, and ultimately rewarding experience.

Count On Your Real Estate Agent To:

• Preview available homes to weed out those that are overpriced, or undesirable in some other way.
• Present the homes that suit your needs as you've defined them.
• Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
• Negotiate the best deal for you. Once you are Pre-Qualified for your loan, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's -- even if your offer is lower!

Count On Your Loan Officer To:

• Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)
• Keep you informed of your loan status throughout the entire process.
• Keep your Real Estate Agent informed of our loan progress (Note: your personal information is always kept confidential between you and us; only deal points and progress are shared).
• Get the appropriate loan for you at the best rates and fees. This will save you significant money "up front" and throughout the years to come.

Count On Yourself To:

• Keep your Real Estate Agent informed of any questions or concerns as they develop.
• Keep the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.
• Enjoy purchasing your home, but do remain objective throughout -- to make the business decisions that are best for you.
• Make sure you get pre-approved for your home loan as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.

For resources and tips on financial services, please 
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Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712

The Borrower's 10 Commandments for a Smooth Loan Process!

Congratulations if you have finally found your dream home!!  One of the next steps is applying for your mortgage loan.   This is an ongoing process and there are a few "dos" and "don'ts" that can play a huge factor in how smooth this process will be.  

Now, I can't promise everything will be perfect, but I can tell you that if you follow these simple "10 Commandments", your loan process will be much easier!!

The Borrow's Ten Commandments

1. Thou shall postpone any career moves until after your closing.  If at all possible, try not to make a career move during the time between your mortgage application and the closing on the home you are purchasing. One of the factors mortgage companies consider is the length of the present employment; they are partial to stability.
2. Thou shalt not apply for new credit.  Why not? Because applying for new credit changes what is called “debt-to-income ratios” (the relationship of your income to your debt). This could impact your ability to qualify for your mortgage loan and may initiate a new round of paperwork. 
3. Thou shalt not incur new debt such as purchasing or leasing a new vehicle. This should go under the general heading of “no new debt.” As with any debt, this will change your “debt-to-income ratios” and may cause you not to qualify for your mortgage.
4. Thou shalt not charge up your credit card balances.
5. Thou shalt not make a very large deposit or withdrawal from your bank account.
6. Thou shalt not change your mind after locking a rate.
7. Thou shalt not co-sign for someone else’s loan.
8. Thou shalt not spend your down payment money.
9. Keep holy thy closing date and paperwork.  Please try to schedule vacations for AFTER your closing date. If you have started packing for a move, remember to keep out any bank statements,  tax returns, or other important paperwork. 
10. Thou shalt not file for divorce prior to closing.  I know this is a sensitive subject, but filing for divorce affects your marital status in a court of law and this change of status may sometimes complicate the process when paperwork is being finalized.

If you have questions about any of the “Borrower’s Ten Commandments,” please call me.

For resources and tips on financial services, please 
LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn


Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712

Welcome to My Blog

Hi, I'm Michael Lasson and welcome to my first blog!  I decided to start blogging as another way to provide superior home financing solutions and resources for the Lake Area.  I hope that you will subscribe and comment to my weekly blog - your feedback is important to me!

I am married to Michelle and between us we have 6 children. Michelle is the best thing that ever happened to me and my boys and we have enjoyed 16 wonderful years together.  Family is very important to me - I truly enjoy being a husband, father, a brother, a son and an Uncle.  And in the past year, I have been blessed to experience the role of Grandpa!!


I believe I have the best job possible! I work for First State Bank as a Senior Residential Mortgage Lender and I get to assist people with the financing or refinancing of real estate property. I have assisted many buyers in financing a Lake of the Ozarks Second Home or Vacation home.  It is a pleasure to help people in this process.

I have built a strong reputation as a trusted, established local mortgage lender, serving the lending needs of real estate professionals, builders and individual home buyers in the communities we serve. I have access to a full range of mortgage sources and I am dedicated to finding the right loan to meet your unique needs ... with the best rates, terms and costs.  Lending decisions are made locally and underwriting is done in-house, so you know you can reach me quickly with questions about your loan process.

When it comes to your financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the FIRST Class Service you deserve...I guarantee it!!

For resources and tips on financial services, please 
LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn


Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712