First State Bank Mortgage Loan Programs

Whether you're dreaming of a new home or looking to lower your monthly mortgage payments, we can help! As your Lake of the Ozarks mortgage lender, I am here to help you find the perfect loan for your situation. First State Bank Mortgage provides a full portfolio of fixed and adjustable-rate mortgage products. Here is a breakdown of the loan options availble when you choose me for all your Lake of the Ozarks home financing needs!

Conventional Loan Program – Traditional Mortgage

Conventional loans offer flexible terms and competitively-priced rates. With a conventional loan, you can get financing for up to 95% of your home's value. Whether you're looking to buy a new home or finance your current one, a traditional mortgage is a great option. Benefits of a Conventional Loan include:

• Flexible Terms from 10-30 years available
• Fixed and adjustable-rate mortgages available
• Down payments as low as 5% of sales price
• Multiple options for Mortgage Insurance, if applicable
• Competitive rates on new home purchases and refinances
• In-house processing and underwriting

FHA Loan Program

An FHA loan is a loan that is insured by the Federal Housing Administration. FHA loans offer competitively-priced rates and a low down payment option. Benfits of an FHA Loan include:

• Flexible credit and underwriting standards 
• Low closing costs
• Fixed and adjustable-rate mortgages available
• Down payments as low as 3.5% of sales price
• Competitive rates on new home purchases and refinances
• In-house processing and underwriting

USDA Rural Housing Loans

Sponsored by the U.S. Department of Agriculture, rural housing loans are designed to make homeownership more affordable for those borrowers living in rural communities. For qualified borrowers, a Rural Housing Loan can provide up to 100% financing with competitive rates and terms. Benefits of a USDA Home Loan include:

• Up to 100% financing
• NO monthly mortgage insurance premiums due
• Low closing costs
• Affordable fixed rates
• Flexible credit and qualifying guidelines
• Available on new or existing homes

VA Home Loans

VA Loans are designed to make homeownership more affordable for qualified U.S. veterans. They offer favorable terms, competitive interest rates and no monthly mortgage insurance premium. If you’re eligible for a VA-Guaranteed Loan, you’ve earned several major benefits including:

• Up to 100% financing
• NO monthly mortgage insurance premiums due
• NO pre-payment penalties
• Low closing costs
• In-house processing and underwriting

First-Time Homebuyer Program

The "First Place Loan" offers a great financing option for first-time homebuyers. The program gives first-time homebuyers and qualified veterans the edge they need to purchase a home. Affordable interest rates, in combination with additional incentives offered by the Missouri Housing Development Commission (MHDC), allow prospective buyers to obtain mortgage financing in a competitive market. Benefits of a MHDC First-Time Homebuyer Loan include:

• 3% cash assistance loan for down payment and closing costs
• Fixed-rate mortgage
• FHA, VA, USDA Rural Development, Fannie Mae qualified
• In-house processing and underwriting
• First-time homebuyer requirements are waived for qualifying veterans and for homes purchased in targeted areas

Rehab Home Loan Program

With the brand-new Rehab Loan Program, qualified homebuyers can now buy the home of their dreams and borrow additional funds dedicated to improving or upgrading the property. This is a fixed-rate mortgage that allows the homeowner to have rehabilitation construction completed on their single family property. Funds may be used to make necessary cosmetic or functional improvements to the home.

For more information on which Lake of the Ozarks home loan options you may be eligible for, contact Lakelender Michael Lasson at 573-746-7211. I'm committed to working with you every step of the way. When you choose First State Bank Mortgage and the BEST mortgage lender at Lake of the Ozarks, owning a new home can go from dream to reality!

For Lake area news, 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

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.