Thursday, February 25, 2021

Mortgage Facts: How Mortgage-Backed Securities (MBS) Influence Rates

 Mortgages can be complex if you don't have a professional mortgage lender at Lake of the Ozarks to help you better understand some of the intricacies. That's why I'm here, to share my years of experience and help educate you on mortgages so that you can make informed decisions. In this week's blog, we're going to cover Mortgage-Backed Securities and how they can influence rates. 

What is an MBS?

A Mortgage-Backed Security (MBS) is an investment, similar to a bond that consists of a bundle of home loans bought from banks that issues mortgages. These asset-backed securities provide investors with periodic payments that work similarly to the ones you'd receive from bond coupons.

How they Work

MBS places banks as the middleman between homebuyers and investors. The better the mortgages, the better the MBS performs. So, it's a win-win for granting quality mortgages to home buyers and investors alike. Investors buying MBS are basically lending money to home buyers. To be sold on the market, an MBS must be issued by a government-sponsored enterprise (GSE) or private financial company. There are many regulations and due diligence performed analyzing each mortgage being sold in the bundle to ensure quality standards are met. As for how they influence rates, mortgage rates are set based on financial markets when they open each day. When MBS prices drop, rates are raised, and when prices rise, rates are lowered. 

Types of MBS

Collateralized Mortgage Obligations (CMO):

This type of MBS is made up of multiple pools of securities. These "tranches" are reviewed and given credit ratings to determine the rate of return to investors.

Pass-Throughs:

This type of security is set up similar to trusts in which mortgage payments are collected and "passed through" to investors. Since they're set up as trusts, these typically have stated maturities of five, 15, and 30 years. These maturities can vary depending on the number of principal payments on the mortgages that make up the pass-through.

Team Lasson: Your Mortgage Professionals at the Lake

I hope that you have learned some valuable information about the mortgage industry, how MBS work, how they can influence mortgage rates. As the best mortgage lender at Lake of the Ozarks, I take pride in assisting my clients not only in obtaining top-tier mortgages for their homeownership needs but educating them as well so they can make the most informed decisions possible. With that being said, if you're looking to obtain a mortgage at Lake of the Ozarks or are interested in refinancing your home to take advantage of our great rates, give me a call!


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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

Thursday, February 18, 2021

Tips for Protecting Your Vacation Home During Freezing Temperatures

 Owning a vacation home at Lake of the Ozarks is a privilege. You've got a prime destination to vacation to during the Spring/Summer months. However, if you leave your Lake home unattended during the Winter, it's wise to ensure it's prepared to handle the frigid elements. In this week's blog, the best mortgage lender at Lake of the Ozarks, Michel Lasson, is here to give you a few tips to keep your home protected during the offseason. 

Winterizing Your Home: Pipes & Indoor Maintenance

You'll want to ensure that your home is well insulated. Checking for any drafts and sealing holes or cracks with some form of insulation (foam works wonderfully), weather stripping, or caulk. You should also add insulation or a source of heat around areas of the home with piping. You can utilize heat tape, or even blankets to help insulate these areas to prevent pipes from freezing. To go a step further, keep a small trickle of water running from faucets; this allows water to continue to flow. Be sure to check the thermostat before you head out, keeping it set between 55 - 60 degrees. You could also consider installing a water leak detection system to notify you in the event of a leak. 

Outside Maintenance

Clear your gutters of any debris to prevent ice dams on your roof. Installing gutter screens or "helmets" can prevent leaves and other items from clogging your gutters while your away. It's also advised to trim overhanging limbs from trees in case they fall under the weight of snow or ice. Damage sustained from large branches falling on your home is a costly and unpleasant ordeal. Doing preventative maintenance now could save you a lot of headaches later on. To help prevent your outdoor plumbing fixtures from freezing, we recommend disconnecting and storing any hoses, as well as shutting off the water to these sources. Be sure to drain the lines and hoses as well to prevent any existing water from freezing within them. 

Warding Off Pests

Discard any food that is not in an airtight glass or metal container. Empty, clean, and defrost your refrigerator/freezer to prevent mold or other bacteria from forming while your away. Inspect the foundation of your home to ensure there are no openings for animals seeking shelter from the cold to enter into. Trimming overhanging branches also helps mitigate any pest problems. Animals aren't the only things that could be lurking to get inside your vacation home. Asking a local home service company or neighbor in the area to keep an eye on your vacation home is also a proactive way to stay ahead of any non-animal pests seeking shelter or a quick buck. Of course, installing a security system and displaying signs of surveillance on your property are also good deterrents. 

Photo Credit: FunLake
As we mentioned, owning a second home at  Lake of the Ozarks is a privilege, but it also comes with some extra requirements to ensure that it is safe during the colder months when you're not around as much. We hope that these tips have provided you with additional insights to keep your home safe while you're away. Having peace of mind that your home is safe and will be ready for use once the Spring/Summer season rolls around is a wonderful feeling.

If you don't yet own a home at the Lake but are interested in making 2021 that year, give Team Lasson a call! We'd be happy to help you secure a mortgage at Lake of the Ozarks with our award-winning service and great financing options!


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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

Friday, February 12, 2021

Ideas to Update Your Vacation Home for the Spring & Summer Months at the Lake

 Owning a second home at Lake of the Ozarks in and of itself is a great accomplishment and one that you should feel a great sense of pride in. You have a prime place to vacation, to unwind, and plenty of activities to enjoy right in your backyard. So, why not get the most out of your lake home experience by enhancing your vacation home at Lake of the Ozarks. In today's blog, we're giving a few inexpensive home renovation ideas to help you spruce up your lake home in time for the Spring and Summer months.

Add an Outdoor Living Space

Every lake home should have an outdoor area that is comfortable, stylish, and functional for enjoying the lake life. After all, you'll be spending plenty of time out on the water, and it can really enhance the appeal of your lakefront home. Pouring a small concrete patio, setting up a small pavilion, or using natural landscaping, benches, and stone pathways can add a great deal of eye appeal to your property. If you'd rather not DIY a project like this, you can always count on the contractors at the Lake to come up with a collaborative design and complete the work for you.

Lighting: Indoors & Out

Replacing your old lighting fixtures can really enhance the entire home - inside and out! Adding solar lights to line a pathway leading to the water or other appealing areas around your property can do wonders. Plus, it creates a gorgeous view from the water as well. Consider highlighting your natural landscape, gardens, and shrubs to create an alluring atmosphere for your home. 

A Fresh Coat of Paint

New paint is always a great and typically more inexpensive way to freshen up an area. It can be used to complement or contrast other features of your home to create one-of-a-kind spaces that are unique to your taste. 

Update the Kitchen

You don't have to do a complete overhaul of your kitchen to maximize its appeal in your lake home. Adding small DIY's such as updated cabinet fixtures, paint, and small home decor items can go a long way in revitalizing your kitchen area. 

Update the Flooring 

Traditional flooring can take on extra wear due to the added exposure to water and sun that comes from living on the lake. There are several types of flooring that can help mitigate this: porcelain tile, vinyl, and laminate flooring are all resistant to water and work great for lake homes.

Photo Credit: FunLake


We hope that you have enjoyed your read and found valuable ideas to help update your vacation home at Lake of the Ozarks. Team Lasson enjoys living the lake life and is proud to be able to share the experience with other homeowners. If you're in need of additional cash for any home renovations, talk to us about refinancing your home at Lake of the Ozarks. If you're still in need of a lake home, we can help you purchase a vacation home at Lake of the Ozarks as well. 




Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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

Wednesday, February 3, 2021

A Romantic Getaway: Valentine's Day at Lake of the Ozarks

How will you be celebrating this special day with your special someone? Valentine's Day is right around the corner, so now is a great time to begin planning your romantic celebration at Lake of the Ozarks! As the best mortgage lender at Lake of the Ozarks, we have the details on some great local places to celebrate! Continue reading for some romantic inspiration!

Romantic Valentine's Adventures at Stark Caverns

If you're interested in doing something a little different this year, rather than just a fancy dinner, Stark Caverns in Eldon is offering a specialized Sweetheart Black Light Tour (02/01 - 02/28) and a Dessert & Dancing package (02/05 - 02/13). The Sweetheart Tour will include breathtaking views of this award-winning cave, an elegant champagne reception with chocolate tasting, and a complimentary keepsake photo. While the Dessert & Dancing will include beginner dance lessons from a professional ballroom instructor, a champagne reception, and a decadent dessert tasting courtesy of Cakes Baby in Eldon. 

Valentine's Day at the Regalia

An exquisite Valentine's Day dinner for two hosted in the chic Royal Catch Bar & Grill. This event will come filled with an array of gourmet entrees for your enjoyment. You'll enjoy a romantic candlelit atmosphere will an optional wine pairing. This breathtaking dinner will be served on February 13th & 14th with seatings at 5pm & 7pm. We have limited spots available, so reserve early!

Valentines's Dinner for Two at Ozark Yacht Club

The Ozark Yacht Club invites you to a night of romance in our prestigious Anchor Room. This dinner for two includes your choice of Whisky Peppercorn Steak, Jalapeno Chicken, or Off-Shore Trio, accompanied with our Lakeside Salad, choice of sides, and chocolate-covered strawberries with champagne. We'll also have live music performed by the amazing Drew Stevens! Reservations are recommended, reserve your spot with us today at 573-552-8401!

FREE Wedding Vow Renewal at Bridal Cave

Bridal Cave would like to cordially invite you to celebrate Valentine's Day with us to renew your wedding vows. This event will be held Sunday, February 14th from 9am to 4pm. This is an amazing opportunity to re-profess your love for your special person in an awe-inspiring atmosphere. You'll also receive some complementary benefits for the special occasion.

While we're on the topic of love, wouldn't you love to purchase a new home at Lake of the Ozarks? Or would you love to save some money on your current mortgage payment? Well, with the low-interest rates, Team Lasson is ready to help you take advantage of whichever you'd love the most! We hope that you have enjoyed your read and found some romantic inspiration for Valentine's Day this year. 




Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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


Wednesday, January 27, 2021

Considering a Mortgage at the Lake in 2021?

If you hadn't heard, 2020 was a record-breaking year for real estate at the Lake of the Ozarks. If you weren't able to get in on the real estate action last year, don't worry! 2021 is still looking to be an advantageous year to buy a home at  Lake of the Ozarks. With the low-interest rates and motivated sellers, this could be the year to obtain your mortgage at Lake of the Ozarks, and Team Lasson would be thrilled to assist! Continue reading to find out a few ways to make 2021 the year you move to the Lake!

Interest Rates

If you've been considering buying a home at the Lake, we're sure you've likely heard about the low-interest rates last year. Well, the good news is that they are still fantastic! The market is subject to change at any point in time, and without a crystal ball, it is hard to predict when or how they will change exactly. However, they are low now, so jumping on the opportunity could save you from paying higher rates in the future. 

The Housing Market

With record sales last year, the housing inventory is looking a little slim right now. However, that means even more incentive to begin getting prequalified for a mortgage so that when the right home does become available on the market - you're ready to put in a confident offer. It's also advised to contact a local realtor to help you identify any potential prospects as soon as they are listed. Getting these two items lined out now can greatly benefit your home purchase at the Lake. 

Start Now

If you're not quite ready to be prequalified (or not sure if you are) you can begin preparing by tracking your spending, saving for the down payment and closing costs, and compiling some documentation for your lenders such as financials, and any known liabilities that you may have outstanding. This can provide you with faster prequalification's with your local lender. Plus, it's tax season - so you'll likely be receiving some of these documents in the mail as we speak, if not already. 

An Advantageous Time to Buy

Although the housing inventory is low right now, the low-interest rates, motivated sellers, and slower season at the Lake this time of year make for an advantageous setting to buy real estate at Lake of the Ozarks. There is the potential to snag a great deal on your new dream home, and at a low-interest rate. This means more bang for your buck! Plus, there's time to get the home secured and just how you like it before the Summer season hits. So, you'll be able to enjoy all the excitement from your new home at Lake of the Ozarks. Ready to get started? Contact us today with any questions or to begin your prequalification process and be one step closer to homeownership at the Lake!




Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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


Friday, January 22, 2021

A Few Home Improvements That Can Help Sell Your Home

When it comes to listing your home on the market to sell, there's a good chance that you'll have a rather large to-do list. When preparing your home for sale (and purchasing another) it's important to ensure that you perform regular maintenance as needed to help it sell. Studies show that homes sell faster and at a higher price when they look fresh and well kept. As the best mortgage lender at Lake of the Ozarks, Team Lasson understands the wants of the buyer and sellers in these types of situations. So, we're here today to give you a few relatively easy tasks that can enhance the selling experience of your Lake home.

A Fresh Coat of Paint/Stain

Over the years a home's paint can become faded, nicked, scuffed and more. By restoring them to their glory with a fresh coat of paint or stain you can really impact the visual appeal of your home. Consider redoing the cabinets, walls, decks/patios for the best, blended results. Many people love the idea of a turnkey home and doing these simple and cost-effective renovations can really go a long way in drawing their attention and making them feel good about the home.

Updated Light Fixtures

Since you've now got a fresh coat of paint/stain throughout the home, showcase it with some great lighting fixtures! Having old and outdated lighting can really spotlight the years on your home. You'll want to ensure that you have clear, bright lights that highlight the great features around your home and make it feel vibrant and inviting. Here are a few styles of lighting fixtures to consider:

  • Mid-century modern
  • Vintage Edison-style bulbs
  • Soft gold finishing's
  • Large shades
  • Retro & industrial 

Landscaping

Curb appeal is essential when selling in today's home market. While adding a roof may not be within your immediate budget for sale, a little landscaping can go a long way to enhance the appearance of your home from the road. Plus, it will make the photos of your home even more enticing, making potential buyers stop and want to check out your home. Consider mulching flowerbeds, adding rock or stones, trimming shrubs, and ensuring that the yard is well manicured. 

Updated Flooring

Flooring gets a lot of wear and tear over the years. Replacing your flooring can be a great way to finish out your home renovations. It will go great with the fresh paint/stain and the new lighting will really make it shine. The labor required in this also gives you the opportunity to really identify any other maintenances that may be beneficial such as trim, baseboards, etc.

These typically inexpensive upgrades can be a great way to instantly increase the appearance of your home and therefore its appeal to potential buyers. So, now that you're more prepared to sell your current home, it's time to consider where you'll be living next - if you haven't already. Team Lasson is ready to help you finance your next home purchase with a mortgage at Lake of the Ozarks. There are many beautiful lake homes to choose from, and with the best mortgage lender at Lake of the Ozarks backing you, you can't lose! Contact us today to see how we can help make your dreams of owning a lake home a reality!




Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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


Tuesday, January 12, 2021

5 Considerations When Buying a Vacation Home at Lake of the Ozarks

While you dream of the warm Summer months on the distant horizon, you'll want to begin making preparations for your Summer vacation at Lake of the Ozarks. The resorts are immaculate, and Lake of the Ozarks hospitality is second-to-none. However, have you considered owning your own vacation home at Lake of the Ozarks? It may be more attainable than you think, and Team Lasson is here to help you every step of the way. Continue reading our blog for 5 things to consider when buying a vacation home at Lake of the Ozarks.

Plan Around Your Vacation Style

One of the first things to keep in mind is what kind of vacation you'd enjoy having the most. An energetic, on-the-move atmosphere, one more private and secluded or something in-between? The great thing about the Lake is that you can have it all. From cabins and ranch-style retreats with acreage to million-dollar lakefront homes with docks and cruisers. Lake of the Ozarks can be anything you make of it!

Your Lake Location

After you decide what type of vacation you'll be having at Lake of the Ozarks, you'll want to check out several of the cities around the Lake. All offer different advantages depending on what your priorities are. Here are a few of the cities around the Lake for you to choose from:

  • Lake Ozark
  • Osage Beach
  • Camdenton
  • Sunrise Beach
  • Gravois Mills
  • Laurie
  • Eldon
  • Versailles

Think of the Amenities

There are many Homeowners Associations around Lake of the Ozarks that offer amenities to make your time in the community more relaxing and enjoyable. From pools, gyms, and playgrounds to country club memberships, spas, and signature golf courses. Some of the amenities even include maintenance as an added or low-cost benefit. Amenities like this are great for vacation homes, so be sure to check them out when looking in each community.

Floor Plans & Room Sizes

This will depend a lot on the type of vacation you're planning on having. Will it be a private getaway as a couple or an elaborate hangout for friends and family? When house shopping, try to envision just how your vacationing lifestyle is going to play out in the home. This will have an impact on the style, size, and location of the home you want to buy.

Yard Functionality

Don't forget to keep the functionality of your yard in mind. You'll want to be sure that it fits with your vacation style as well. If you have any large future plans for the grounds, such as an in-ground pool. You'll need to consider that up front when looking for the perfect vacation home as expanding or changing these features later can take time.

If you've been vacationing here for years and are interested in buying a vacation home at Lake of the Ozarks, we'd love to help! Contact us today to get started getting pre-qualified for your mortgage at Lake of the Ozarks. Having this letter in hand will allow you to shop with confidence, plus it can give you an advantage when it comes to negotiations and being taken seriously as a buyer. Have any additional questions? Give us a call! Team Lasson is always here to help!

Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065






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