Thursday, September 13, 2018

3 Easy Ways to Prepare for a Vacation Home Loan

Many think of the Lake of the Ozarks as a vacation destination, but it’s also the perfect place to live. The lake is great for seeking rest and relaxation, or a beautiful retreat from hectic city living. Have you been thinking about buying a vacation home at the Lake of the Ozarks? I would be honored to assist you with your home loan at Lake of the Ozarks. Here are three things you can keep in mind as we get the process started on owning a home or condo at Lake of the Ozarks.


Think About Your Goals

What do you want to do with your vacation home? Do you need a place to stay on the weekends, holidays, or during the summer? Will this be a home that you retire to in the next several years? Do you intend to use it as an investment property and rent it during the times you aren’t using it? Owning a second home may come with some nice benefits, like tax write-offs, but this all depends on how you will be using it.

Start with the Numbers

We can take an in-depth look at the numbers when you start working with us. There are a few key factors to consider, and the first is how much of a down payment you have. This will impact the type of loan you can obtain, as well as your interest rate and monthly payments. If you have a stable income with a cash reserve, you are on your way to being a vacation homeowner at the Lake of the Ozarks! You should also think about property taxes, insurance, maintenance, repairs, furnishings, and property management fees. You can prepare for those more down the road, but you'll want to keep those expenses on your radar.

Think About Loan Terms

What type of loan do you have on your primary residence? It’s most likely a 30-year mortgage. While that works for your first home, it may not be the best option for your vacation home at the Lake of the Ozarks. So, what is the best option for you? Let's We will take a look at your finances and overall picture to determine what works best for your situation. We can talk about the different loan programs and terms when we discuss your lending options.


Let’s Get Started!

The first thing you need to do is complete an online application at www.yourlakeloan.com. Before you know how much you can spend on a vacation home, you’ll need to get pre-approved. This will make your entire real estate buying experience smooth and efficient. After you’ve been pre-approved, your real estate agent will have a better grasp on what you can afford and will be able to find the right property for you. Once you find the perfect property, we will assist you through the loan process so you can be relaxing in your vacation home before you know it. Visit our website to learn more about our services, or follow our social media channels to stay in touch.

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, USA

1 comment:

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