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Thursday, October 28, 2021

Tips to Quickly Save for a Mortgage Down Payment

Saving for a down payment can seem like an intimidating task. Our mortgage lender at the Lake of the Ozarks sees every day how overwhelming a down payment seems to someone wanting to buy a home. The reality is, it doesn't have to be! There are home loan options at the Lake of the Ozarks that don't require a traditional 20% down payment, but it's still a great idea to start saving before you wish to purchase a home at the Lake of the Ozarks. Check out some of the ways you can quickly save below!

Pay Off High-Interest Loans

Interest can be a big financial drain. If you work toward paying off those high-interest loans, you'll automatically save on that payment every month. Put that extra savings away for your down payment -- you're already used to living without that extra cash you were paying toward your high-interest loan. 


Put Savings in a Money-Making Account

A checking account essentially offers no return for having your money in the account. Seek an account that offers a high-yield return and start building your savings in that account to encourage faster growth on your money. Your money might as well be making you a little money while it's sitting in savings!


Cut Your Spending

Critically analyze your monthly spending and make cuts wherever possible. While it may not seem like a lot, that $5 drink and $15 meal out a couple times a week can add up quickly! If you want to save for a home, you'll likely need to make the decision to do without the extras in order to reach your goal in a timely manner. 


Increase Your Earnings

If you've been in your job for a while, consider asking for a raise. If a raise is off the table, it's a great time to come up with a side hustle for extra cash. Get creative and find something you enjoy doing that can make money at the same time! If you do start making more money, put all of the extra earnings toward your savings. You were living without that cash before you started earning more so act like it's not even there and stash it away for your down payment. 

If you're thinking about buying a home at the Lake of the Ozarks, Team Lasson is here for you! Allow us the opportunity to help you discover the best home loan option for your unique buying situation! We'll help guide you through every step of the process and be your sounding board as you prepare for this big milestone purchase. Call (573) 746-7211 or visit our website at www.yourlakeloan.com for more information.


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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.

 


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Thursday, October 21, 2021

Halloween Events at the Lake!

Halloween is almost here and your favorite Lake of the Ozarks mortgage lender has all the details for upcoming events around the area. Whether the kiddos are eager to get out and trick-or-treat or you're getting dressed up and festive for an adult party, there's plenty of options for Halloween fun around the Lake of the Ozarks! Check out the upcoming events and make plans to attend your favorites:

GHOULS GATHERING FESTIVAL

Last 2 Weekends in October

6:00 pm - 11:00 pm

Lake Breeze Terrace

Ghouls Gathering is a small festival to celebrate Halloween. It is only open on the last two weekends of October.  There is a FRAIDY CAT area for kids and adults to play Halloween games, a small set of vendor booths, and the Haunted Maze only for Non-FRAIDY CATS, age 14 and over. Enjoy food, games, prizes, photos, and vendors at this unique event!


WITCHES AND WINE AT SHAWNEE BLUFF WINERY

Oct 23, 2021

2:00 pm - 7:00 pm

Shawnee Bluff Winery

Calling all witches, wizards and warlocks our annual Shawnee Bluff Witches and Wine event will be held on October 23rd from 2p-7p! Local vendors, costume contest, chili special, mulled cider, games, a DJ, and pumpkin painting contests can be found at this awesome event!


HY-VEE HOLLOW TRICK OR TREATING MAZE

Oct 24, 2021

3:00 pm - 6:00 pm

Hy-Vee

Wonderland Camp presents Hy-Vee Hollow Trick or Treating Maze on October 24th! This event is fun for all kids! Trick or Treating and a maze are included for only $2 per child. The proceeds go to the Dream Factory and Wonderland Camp.


CAPTAIN RON'S SPOOKTACULAR

Oct 30, 2021

Kids Event: 3:00 pm - 5:00 pm 

Adult Party: 7:00 pm - 11:00 pm

Captain Ron's Bar & Grill

Kids Event: Dress your kids up and bring them to Captain Ron's for an afternoon of trick or treating.

Adult Party: Dress up in your best costume to win prizes and go home with the Best Dressed Costume Bragging rights!


HALLOWEEN PUB CRAWL

Oct 30, 2021

7:00 pm

Gravois Mills

The West Side is hosting the Annual Halloween Pub Crawl again this year and there are 8 bars on the list! 10-42 Bar &Que, Hillbilly Yacht club, Tony G's, Lake Burger, Maggie’s on the water, the little Bass hole and the VFW. Come out for a night of great food, drinks, and entertainment at these bars and restaurants!


HALLOWEEN ON THE STRIP

Oct 30, 2021

2:00 pm - 4:00 pm

Bagnell Dam Strip

Celebrate Halloween on Bagnell Dam Strip with trick or treating, games, a cookie walk, costume contest, and pumpkin contest.

For more Halloween events, visit www.funlake.com/events.

What are you waiting for? Now's the time to make your Halloween plans! If you love getting out and about to events like these but you don't live at the Lake, consider buying a second home at the Lake of the Ozarks. Team Lasson is here for all of your Lake of the Ozarks home loan needs. Let's talk about your options today! Call (573) 746-7211 or visit our website at www.yourlakeloan.com for more information.

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn



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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Friday, October 15, 2021

Tips to Winterize your Vacation Home

It’s about time the fall temperatures have shown up! Fall at Lake of the Ozarks is a beautiful season offering fun events, cool temperatures, and gorgeous scenery. However, it also means that you could have some down time to accomplish those tasks on your to-do list for winterizing your vacation home. Here are a few things you need to remember as the months begin to loom, and how you can protect your vacation home at Lake of the Ozarks during the off-season.

Unplug Appliances

Now is a great time to clean, protect, and shut off the appliances in your vacation home. This will include fridges, washers, dryers, dishwashers, and ACs. If you are not sure how to Winterize your air conditioner, you can either do some research online or hire a company to take care of it for you.
 

Turn Off the Water

If you want to prevent water leaks and indoor flooding this Winter, you will want to turn off the water at the mainline. This is an important step and one you will not want to forget. It is not hard to turn it back on if you decide to come back to your vacation home during the Winter months.

Wrap Your Pipes

Wrapping pipes under the sink and in a basement, as well as anywhere else around your home can be a huge help. Look for wraps that are made from fiberglass, foam and foil, foam, or rubber to provide proper insulation to your pipes over the Winter. This can conserve energy and save money, but can also protect against any freezing temperatures that we may experience this Winter.

Drain the Pipes

This is incredibly important when you will not be in your home for a season. You may even want to hire a professional to come to drain your hot water heater, to clear the pipes of water, and to shut off propane or natural gas.

Clean the Gutters

After the leaves have fallen, it is a great time to clean out the gutters and downspouts. You can install downspout guards, screens, snap-in gutter screens, and mesh gutter guards to help prevent water damage from ice dams and puddles on the roof, and around your foundation.

Winterize Outside, Too!

Do not forget to drain all outside hoses, disconnect them, roll them up and store them. Cover all outdoor faucets with foam or hard plastic covers as well. The foam covers keep outdoor faucets from freezing during the colder temperatures, and the hard plastic covers can provide additional protection from the weather and small curious animals.

Outdoor Appliances

You should also disconnect the outdoor appliances, like fountains, bug zappers, and even the satellite dishes. You can secure them with plastic or store them indoors to protect against the cold weather.

Outdoor Furniture

Storing your outdoor furniture, raised garden beds, plant post, grills, tools, and other outdoor items inside is also a great precaution. If you cannot bring them indoors, you can always cover them with plastic and secure them in a wind-free location.

Find An Exterminator

Finally, this is a great time to schedule an exterminator to continue pest inspections and pest control through the Winter.

Photo Credit: Fun Lake

Time to Get Started!

Fall is in full swing, so now is the perfect time to make sure that your vacation home at the Lake is ready to withstand the upcoming months! If you do not have a vacation home at Lake of the Ozarks, now is the perfect time to start looking. The market has been doing some great things for home buyers, and off-season is commonly accepted as the best time to buy a home. Ready to get started? Team Lasson can help you get started on your mortgage at Lake of the Ozarks!


LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn



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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Thursday, October 7, 2021

5 Tips to Pay Off your Mortgage Sooner

Purchasing a home at Lake of the Ozarks is a big investment, and most likely the most valuable asset you have because your mortgage at Lake of the Ozarks is often your largest debt. Depending on the terms of your loan, you are adding thousands of dollars more to the price of your home. The faster you can pay off your Lake of the Ozarks home loan, the more money you are going to save. Not only will you no longer have the burden of that huge monthly payment, but you will have security in owning your own home. Today's blog from your favorite Lake of the Ozarks mortgage lender offers several different ways that you can pay off your mortgage sooner!

1. Make a Larger Monthly Payment

An easy way to pay off your mortgage faster is to add a little extra to each of your monthly payments. Whether it be $10 or $100, choose what you can comfortably afford because every little bit helps. Use a mortgage calculator to see how adding just a little to your payments can save you money in the long run. When you pay extra, make sure that it is being applied to your principal and not set aside for the next month's payment. By paying down the principal, the amount that your interest is calculated on decreases. You should also check your contract before making extra payments, as some have prepayment penalties.

2. Pay Every Two Weeks

Rather than making one payment a month, consider paying biweekly. This method of payment takes advantage of the fact that there are 52 weeks in a year and only 12 months. When the year is over, you will have made 26 half payments, which is the equivalent of 13 full monthly payments. Check to see if your bank will set up a biweekly payment plan. Some will do it for free and some will charge you for it. Be sure to have the bank credit the extra payments toward the principal so you save more on interest; some banks will hold the extra payments until the end of the year and therefore, your still paying interest on that amount.

3. Apply Any Extra Cash You Get

Tax season is a great time to reduce the principal on your Lake of the Ozarks mortgage. Consider applying your next tax return towards your mortgage principal. If you receive any other larger sums of money throughout the year, maybe as a holiday bonus at work or a commission check, consider applying those amounts to your mortgage principal as well. The more you can pay upfront, the more you will save in the long haul and the faster you will be able to pay your home off.

4. Refinance Your Home

Refinancing your home at Lake of the Ozarks to either lower your interest rate or shorten the term of your loan is another great way to get your home loan paid off faster and save money. If you have an adjustable rate loan, you can refinance to get the comfort of the stability that a fixed rate loan offers. Depending on what interest rates are available, you may be able to get a 15 year loan for a little more than what you currently pay for a 30 year loan.

5. Downsize Your Home

If you are struggling to pay off your mortgage, one of the simplest solutions is to downsize. Do you really need 2 spare bedrooms or that extra office space? While having a nice big spacious house is something you've dreamed of, think about how much more enjoyable life could be without all that debt hanging over your head. If your near retirement age or approaching an "empty nest," downsizing makes the most sense. In this economy, it's great knowing that your home belongs to you instead of the bank.

 
For all of your mortgage questions, I am here to help. You can learn more about your options by talking to your lender today about your Lake of the Ozarks home financing options. Your circumstances may be different now than when your first bought your home. You might be able to get a better interest rate or make a larger monthly payment. Give me a call at 573-746-7211 with any questions you may have regarding your home loan at Lake of the Ozarks.


LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn



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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