Friday, December 26, 2014

Celebrate the Beginning of a New Year at Lake of the Ozarks

With Christmas finished, it's time to start thinking about the new year!  Do you have plans for New Year's Eve yet?  The Lake of the Ozarks is the perfect place to celebrate!  Check out these great events going on all around the Lake area.  Grab your spouse, friends, family and come on out to grab a glass of champagne and bring in the new year!

"Ring in the Noon Year" - Family Event at Old Kinderhook


Join us on The Ice at Old Kinderhook with your family for New Year's Eve. Admission is $12 and includes skate rental, session fee, S'mores and Hot Cocoa, with a Cookies & Milk toast at Noon!

New Year's Eve Bash at Old Kinderhook 


Celebrate with us at Old Kinderhook and enjoy an Elivis Impersonator from 9 PM to 12:30 AM. Dinner and Drink features will be available. Room features are $99 per bedroom, with additional nights priced at $79 per night. Complimentary champagne toast at midnight. Contact 573-317-3560 for reservations.

New Year's Party at the Lodge 


Join us at the Lodge of Four Seasons for a New Year's Celebration. The event will include a Live Band, Dancing, Cocktails, and Dinner, with an "Around the World" theme. Tickets are $249 per couple. Please call 800-843-5253 for reservations.

New Year's Eve at H. Toad's


Bring in the New Year at Camden on the Lake & H. Toad's with free party favors and live entertainment. Special room packages are offered to include dinner on New Year's Eve and breakfast the next morning. Special after bar party with a DJ for registered guests from 1-3 AM. Make New Year's Eve a night to remember!


New Year's Eve Dinner at Seven Springs Winery


Join us for a delightful New Year's Eve dinner, music and fireworks! Seating begins at 5 PM and only 100 reservations are available. Music by Sax on the Beach from 5-10:30 PM, with Fireworks Display at 10:30 PM. Cost is $99 per couple and dinner includes: Salad, KC Strip, Lobster Tail, Asparagus, Baked Potato, Dinner Roll and Sweet Potato Maple Layered Cheesecake. Call 573-317-0100 for reservations.


New Year's Eve Gala - Swing Dance Club 


Celebrate the New Year at the Country Club Hotel and Spa with the Lake Ozarks Swing Dance Club. Two drinks, party favors and champagne at midnight are included with admission. Tickets are $15 for members and $20 for non-members.  Bring a snack to share and there will be a cash bar. Couples and singles are welcome. Special dinner and room options are available through the Country Club Hotel.

Your Lake of the Ozarks mortgage lender wishes you a Happy New Year!  If you're in the market for a new home for the new year, contact me for all  your Lake of the Ozarks home loan needs. 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 and I guarantee!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211

  
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Wednesday, December 17, 2014

First State Bank Mortgage Voted Affiliate of the Year

First State Bank Mortgage was named the "2014 Affiliate of the Year" by the Bagnell Dam Association of Realtors during their annual Installation Banquet last week. This distinction comes to us for the second time in five years.  We were selected as the Affiliate of the Year out of a pool of sixty affiliates who work with the Bagnell Dam Association of Realtors. We are very excited about receiving the Affiliate of the Year award. The award is a great honor and signifies to us that we are trusted and well-respected by our peers in this community.


Bagnell Dam Association of Realtors


The mission of the Bagnell Dam Association of Realtors is to provide education, services and tools which allow members to better serve their industry and the community both professionally and ethically. They promote and protect the right to own, transfer and use real property.

First State Bank Mortgage


First State Bank Mortgage, a division of First State Bank of St. Charles, offers conventional loans, VA, FHA and USDA loans, condominium and second-home loans, jumbo loans, and other mortgage products. First State Bank Mortgage is an Equal Housing Lender.

If you're interested in buying a home at the Lake of the Ozarks, stop by and see me, your favorite Lake of the Ozarks mortgage lender!  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 and I guarantee!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211


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Friday, December 12, 2014

Home Buyers Can Now Qualify for 3% Down Payments

The largest obstacle for most home buyers is the amount of money they need for a down payment. In hopes of broadening the pool of home buyers and boosting the real estate market, Fannie Mae and Freddie Mac have both announced new home loan options that require as little as 3% down. These new options make it easier for first-time home buyers, as well as low-income home buyers to purchase a new home at the Lake of the Ozarks!

Fannie Mae 


Fannie Mae's goal is to help additional qualified buyers gain access to mortgages. The 97 percent loan-to-value (LTV) ration option will expand access to credit for qualified first-time home buyers that may not have the resources for a larger down payment. These loans will still meet Fannie Mae's usual eligibility requirements, including underwriting, income documentation and risk management standards. These loans will also require private mortgage insurance, as is required on any loans above 80 percent LTV.

Fannie Mae states that this option alone won't solve all the challenges around access to credit. However, this is simply one way they are working to remove barriers for creditworthy borrowers to get a mortgage. They are confident that these new loan options will be good business for lenders, safe and sound for Fannie Mae and an affordable, responsible option for qualified borrowers.  For more information on Fannie Mae's plans for this new loan program, visit: http://www.fanniemae.com/

Freddie Mac


Freddie Mac's Home Possible Advantage mortgage program is for low and moderate-income borrowers with limited savings, including first-time buyers. Generally, you will need to meet minimum credit requirements, earn no more than 100% of your area median income and have the funds to meet the down payment requirements and closing costs. First-time home buyers must also participate in an acceptable borrower education program, like the CreditSmart program by Freddie Mac.

Home Possible Advantage mortgages can also be used for a "no cash out" refinance of an existing mortgage and is available in 15, 20 and 30 year fixed-rate terms.  Freddie Mac says that the keys to responsible lending are responsible underwriting and product design.  They designed Home Possible Advantage with the appropriate credit underwriting requirements for today's market. The program has tougher credit standards than low down payment mortgages of the past, including lower DTI ratios, fixed-rate terms and requires full documentation, owner-occupation and housing counseling.  For more information on the program, visit: www.freddiemac.mwnewsroom.com

Both companies say that as long as their underwriting standards stay the same, and the total volume of loans is relatively small, the low down payment loans don't add too much risk to their business. To learn more about how this could affect your options for a new home loan at the Lake of the Ozarks, contact me at 573-746-7211. As your Lake of the Ozark mortgage lender, I am dedicated to working with you every step of the way!

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211
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Friday, December 5, 2014

5 Tips to Paying Off Your Mortgage Faster

Your home is typically the most valuable asset you have, while your mortgage at the Lake of the Ozarks is often your largest debt. Depending on the terms of your loan, you are adding thousands of dollars more to the price of your home. The faster you can pay off your Lake of the Ozarks home loan, the more money you're going to save. Not only will you no longer have the burden of that huge monthly payment, but you'll have security in owning your own home. Here are several great tips to help you pay off your mortgage faster!

1. Pay a Little Extra Each Month. 


Try to add a little extra to each payment you make. Whether it be $10 or $100, choose what you can comfortably afford because every little bit helps. Use a mortgage calculator to see how adding just a little to your payments can save you money in the long run. When you pay extra, make sure that it is being applied to your principal and not set aside for the next month's payment. By paying down the principal, the amount that your interest is calculated on decreases. You should also check your contract before making extra payments, as some have prepayment penalties.    

2. Pay Every Two Weeks. 


Rather than making one payment a month, consider paying biweekly. This method of payment takes advantage of the fact that there are 52 weeks in a year and only 12 months. When the year is over, you will have made 26 half payments, which is the equivalent of 13 full monthly payments. Check to see if your bank will set up a biweekly payment plan. Some will do it for free and some will charge you for it. Be sure to have the bank credit the extra payments toward the principal so you save more on interest; some banks will hold the extra payments until the end of the year and therefore, your still paying interest on that amount.

3. Apply Any Extra Cash You Get.


Tax season is a great time to reduce the principal on your Lake of the Ozarks mortgage. Consider applying your next tax return towards your mortgage principal. If you receive any other larger sums of money throughout the year, maybe as a Holiday bonus at work or a commission check, consider applying those amounts to your mortgage principal as well. The more you can pay upfront, the more you'll save in the long haul and the faster you'll be able to pay your home off.


4. Refinance Your Home. 


Refinancing your home at the Lake of the Ozarks to either lower your interest rate or shorten the term of your loan is another great way to get your home loan paid off faster and save money. If you have an adjustable rate loan, you can refinance to get the comfort of the stability that a fixed rate loan offers. Depending on what interest rates are available, you may be able to get a 15 year loan for a little more than what you currently pay for a 30 year loan.

5. Downsize Your Home. 


If you are struggling to pay off your mortgage, one of the simplest solutions is to downsize. Do you really need 2 spare bedrooms or that extra office space? While having a nice big spacious house is something you've dreamed of, think about how much more enjoyable life could be without all that debt hanging over your head. If your near retirement age or approaching an "empty nest," downsizing makes the most sense. In this economy, it's great knowing that your home belongs to you instead of the bank.

As your Lake of the Ozarks mortgage lender, I will work with you to figure out the best way to pay your mortgage off faster. For all your home loan and refinancing needs, contact Lake Lender Michael Lasson at 573-746-7211.

For Lake area news, resources and tips on financial services, please 


Michael Lasson
Sr. Residential Mortgage Lender
NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049

Direct:  (573) 746-7211
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