Tuesday, June 15, 2021

Why You Should Work With A Local Mortgage Lender

The home buying process is going to be filled with questions, concerns, complexities, and a really rewarding finish! If you have purchased a home before, you may have experienced the work that is involved, but you also know the relief and excitement that comes with signing the mortgage paperwork, getting your keys, and walking through the front door of your new home. All of the challenges can be made so much easier when you have a team of experts behind you, which is why we suggest hiring a local mortgage lender when purchasing a home at the Lake of the Ozarks. When shopping for a mortgage, it is definitely important to get a competitive mortgage interest rate, but you also want to have a professional and experienced mortgage lender working for you. Team Lasson is here to help you navigate the mortgage process, so read on to learn why it is best to work with a local lender!


1. They Know Their Clients by Asking Questions


In order to give an accurate mortgage quote, a mortgage lender will first need to collect information from you. A good lender should be expected to ask questions about your credit rating, property type, how long you expect to own the home and uses for the home, among other questions. A local lender can use this information to offer multiple mortgage options that are right for your needs, and explain what each loan option means for you.
 

2. They Know the Community


Lake of the Ozarks is a wonderful community filled with exceptional people, businesses, and schools. By hiring a local mortgage lender, you are not just fueling the local economy, but you are investing in an expert who can help guide you towards the best financial option for your unique situation.
 

3. They Are Invested in You


When working with a local lender they will know more about the area and local real estate market than an out-of-town lender. A local lender will appear more attractive to certain home sellers and real estate agents because of the importance of a timely closing and a smooth process. Having a local, trusted mortgage lender could be the difference between landing a house or not.
 

4. They Have the Reputation


Local lenders have an incentive to provide you with excellent service because they want you to be a source of referrals for future business. These people live and work in the local area, and it is their reputation they want to uphold.

Photo Credit: Fun Lake

Whether you are purchasing a vacation home at Lake of the Ozarks, planning to move to the lake area full time, or refinancing a home, Team Lasson is ready to help with your mortgage needs. We have been helping home buyers for over 20 years, and we are proud to be a part of the lake community. When it comes to your Lake of the Ozarks home financing needs, we are here for you every step of the way, to answer any questions that you may have. We will discuss financing options, offer competitive interest rates and back it up with the first class service you deserve. Call your local lender, Michael Lasson, at 573-746-7211 for all of your home loan needs!

 

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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, June 9, 2021

FAQS About Owning A Second Home

While it might sound fun to have a vacation home or a good idea to take on an investment property, there are certainly some new questions that may come up during the process. This is a wonderful, yet competitive time to purchase a home at Lake of the Ozarks. If you have been considering this next financial step, we want to help answer and questions that may arise throughout the process. Here are a few frequently asked questions that come up during the mortgage process, but more specifically when buying a second home.


Q: Why Do I Want to Purchase A Second Home?


A: This may seem like a simple answer, but for second homeowners, it could be much more involved. For many homeowners, a second home is going to be a weekend getaway where they can enjoy the serenity of the lake, and for others, it will be intended as an investment property to generate rental income. Knowing how you want to use this property from the start will affect many different choices down the road.
 

Q: Can I Handle the Financial Responsibility?


A: This is something that you will have to consider carefully. Not only will you be taking on the additional mortgage, but you will also be signing up for a second homeowner’s insurance policy, property taxes, homeowner’s dues, additional utilities, and maintenance. Another aspect that is unique to a second home is that they do not qualify for government-backed mortgages. If you are curious about how a second home will impact your finances, be sure to fill out the application on our website (www.yourlakeloan.com) and we can help guide your through this process.
 

Are Interest Rates Higher for an Investment Property VS. A Vacation Home?


A: Yes, they can be. When a buyer is purchasing a home as their vacation property at Lake of the Ozarks, for example, it is generally far less risky than for an investment property. If someone is planning to purchase a condo or a lakefront home and will be relying on renters and vacationers to assist with paying for the mortgage, it can often be seen as a risk. This does not mean that you cannot get good rates, though. Whether you are interested in getting a mortgage on an investment property or a second home, fill out the application on our website and we can talk about the details.
 

Q: What Are the Most Popular Ways to Purchase A Second Home Property?


A: There are several ways to make this happen. A common strategy is to do a cash-out refinance on your primary home to get the proceeds for a down payment on the new purchase, or to pay cash for it if there is enough equity in your primary home. A second way is to get a HELOC (home equity line of credit) on your current real estate. A third way is to get a conventional loan on the second home. All three options are things we can help with, and we can show you all the options to help you decide which one is right for you.


Ready to Buy Your Dream Home?


The first step is to visit our website at www.yourlakeloan.com and complete the online application. After you have completed that process, we can discuss which options are better suited to your needs, and help you choose the right financing options. At Team Lasson, we are so excited to help you make your dreams a reality, and we look forward to assisting you in purchasing a home at Lake of the Ozarks. Visit our website to learn more about our team, as well as to get started!

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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, June 3, 2021

When is the Best Time to Buy A Lake Home?

It seems like everyone is flocking to Lake of the Ozarks and purchasing lake homes one after another, but the real question is, “When is the best time to buy a lake home?” There are many factors that come into play when you are choosing a time to buy, and they could depend on the market, what is available, and even the interest rates. The best mortgage lender at the lake is here this week to look at a few of these factors that will help guide you into the best choice for your buying needs.

What to Remember When Buying During Peak Season

There can be many highlights to purchasing a home during peak season. For the Lake of the Ozarks area, peak season runs from Memorial Day to Labor Day. One of the most popular reasons for purchasing during the peak season is because there are generally more homes on the market. However, this year is a little different. Not only are there more homes to choose from during the peak buying season, but homes are selling faster than they are getting listed!

The competition for buying lake homes is through the roof. Homes sell a lot faster during the peak season as everyone wants to get a contract on their favorite listing before others do. You may also find the prices are higher during the peak season because of the higher competition.

What to Remember When Buying During the Off Season

Off season at Lake of the Ozarks is through the fall months into early spring. Although, during the past year there really was not much of an off season because so many people moved to the Lake area. There is still traffic all through the year as different homeowners enjoy the quiet serenity of the Lake during those months. Some of the pros of buying during the off season are that you can generally get a home with smaller competition. Purchasing a vacation home at Lake of the Ozarks during the winter allows you to see what the area looks like when things are slower and more relaxed.

A few downsides to purchasing a vacation home in the winter may be things like the lake levels being lower through the off season, the wildlife and plants hibernating, and the slower environment creating a different feel than it does during the hustle and bustle of summer.

When do You Want to Buy?

All in all, the best time to purchase a vacation home at Lake of the Ozarks comes down to two things:
  • When are you ready to buy? 
  • What homes are available?


As summer is arriving, if you have the money ready and find a home on the market that could be perfect for you, then now is the best time to buy! Team Lasson has been assisting many homebuyers as they secure their dream homes at the Lake. We are experiencing an incredible market as we speak, so if you have considered buying a vacation home at Lake of the Ozarks, visit our website to learn more about us and fill out an application to begin the process!


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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.