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.

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