Tips for Building Your Credit Score

Your credit score will play a large role in getting your home loan, which means that paying attention to it and working to build it can be valuable. Your credit score will be used to determine your financial trustworthiness, and even if you aren’t thinking about buying a house right now, it can take time and planning to build it. Team Lasson has a few tips to help you make sure that you are working for the benefit of your credit score!

Watch Your Card Balances

One of the biggest things that you will want to watch is that you keep your credit card balances low. One of the major factors in determining your credit score is how much of that available credit you’re actually using. A good rule of thumb is the smaller the percentage the better, and an ideal percentage would be around 30% or lower. Another tip is to see if your credit card issuer will accept multiple payments throughout the month in order to get that statement balance down.

Consolidate Credit Card Debt

If you have multiple cards with small balances on each one, a good way that you can aim to improve your credit score is to get rid of those balances completely. An interesting factor that plays a role in determining your credit score is simply how many cards you have with balances.

Keep Your Credit Looking Strong

Two issues that can sink your credit or cause you to look risky are missing payments or suddenly paying less or charging more than you normally do. These actions can indicate risk in your accounts and could make it more challenging for your loan to go through. Essentially, you want every purchase to show that you are not going to be a risky investment and that you will pay the money back with timely payments.

Keep Accounts Open and Don’t Open New Ones

Did you know that closing unused credit cards will not raise your score? In fact, in most cases, it can cause your utilization rate to dramatically increase. On the other hand, you don’t want to open many new accounts while you are in the process of raising your credit score as this could reduce your utilization rate and backfire on you. Just keep a slow and steady pace and know that every step you take in the right direction will help get you there.

Pay Bills On Time

When planning to purchase a home at Lake of the Ozarks, you may be saving up money, but don’t let that savings spree delay your monthly expenses. It’s important to continue to pay your bills on time, as paying them after the due date can affect your credit score. Remember that even if you have a large sum of money in savings, a drop in your credit score due to not paying your bills on time could cause issues with your home purchase.

In general, building your credit score is about fixing errors in your credit history and then maintaining a consistent, good credit history from there on out. Raising your credit score will take patience and discipline, but it will all be worth it when you get to buy a dream home at Lake of the Ozarks. If you're thinking about applying for a home loan at Lake of the Ozarks anytime soon, contact me at 573-746-7211. As your Lake of the Ozarks mortgage lender, I'll work with you every step of the way!

For Lake area news, resources and tips on financial services, please 

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

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

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

Tips to Help Speed Up the Mortgage Process

The mortgage process can often feel like a long and daunting event, but it doesn’t have to be. While there are always aspects of the mortgage process that can’t be controlled, there are so many things that you can set the pace for. Team Lasson wants to help you purchase your Lake of the Ozarks Vacation home, and we want to help you get everything in order as fast as possible. This real estate market has been busy, to say the least, so anything that you can do to help speed it up on your end is going to be very helpful.

Gather Your Documents

This is one of the first things you can do to get a head start and help speed up the mortgage process. Getting your loan approved will require a series of documents, and if you have them ready at a moment's notice, the pre-approval process will be much smoother and faster. Here are a few documents that you will want to dig out of your files.

Personal Information:

• Social Security Number
• Date of Birth
• Current driver’s license or photo ID
• Current and previous addresses (two year history)
• Names and information of any co-signers or co-borrowers

Income & Employment Information:

• Most recent two years W-2
• Current paycheck stub reflecting a year-to-date income of 30 days or more.
• Present employer’s name, address, and phone number. Length of employment, position, and salary. If employed less than two years, please provide a previous employer’s name, address, and phone number to cover two consecutive years. Exact dates are required.
• Last two months’ bank statements for all accounts. Please provide explanations of any deposits larger than a normal paycheck and please include all pages, even if blank.
• If self-employed or paid any commission or have any business income, please provide complete copies of your federal tax returns along with all schedules and W-2s for the past two years. Include corporate or partnership returns, if applicable, for your business. Also, include a year-to-date Profit & Loss statement.
• Verification of other income needed to qualify, such as retirement, rental, interest, or dividend income. If receiving Social Security or pension income, you will need to provide the current award letters.

Get Pre-Approved

This can speed up your mortgage process exponentially. When you have a pre-approval letter in your hand while house hunting, you are essentially saying “this is how much my lender is willing to lend me right now.” This means that your lender has reviewed your information and has decided that you would be approved based on some initial basic information about your financial status. You can apply for this pre-approval on our website (www.YourLakeLoan.com), and while we are a mortgage company based out of Lake of the Ozarks, we can assist you anywhere across the country with your next mortgage.

Finalize Negotiations Quickly

This will be done with your real estate agent, but it can really slow down the buying process if both parties aren’t communicating quickly. There will be a variety of negotiations that happen between the buyer and seller, and as you get these notifications from your agent, it’s important to respond quickly and not let these things sit around for too long. Properties are selling quickly these days, and it’s important to keep this process moving - there are plenty of other buyers ready to swoop in.

Schedule the Inspections

Your home will require a variety of inspections. If you schedule these well in advance of the closing date, you are giving yourself plenty of time to react to these inspections.

Avoid These Slow Downs

There are a few things you can do that will really slow down the mortgage process. If at all possible refrain from doing any of these things while purchasing a home:

• Changing jobs
• Applying for new credit cards
• Changing bank accounts
• Missing payments or bouncing checks
• Transferring money within your accounts
• Make large deposits
• Co-sign on any new accounts
• Pay off or close debts

Don’t Forget to Stay In Touch

When you are in the process of purchasing a home, one of the most important things you can do is stay in touch with your mortgage lender at Lake of the Ozarks. We want to help you close on this home as quickly as possible, but if there are delays in communication, this can slow things down.

If you are ready to buy a home at Lake of the Ozarks, we are ready to assist! This has been an amazing time to buy and refinance homes - and if you are looking for a good rate, it may be worth it to do it now. You can visit our website to submit an application or learn more about our company, we look forward to working with you, and helping you close as fast as possible!

For Lake area news, resources and tips on financial services, please 

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

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

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

Fall Fishing at the Lake of the Ozarks

If you thought that the Lake centered events were over after Labor Day - think again! Fishing at the Lake of the Ozarks is a big deal, and it picks up even more once the weather cools off. All through October, there are fishing tournaments and events for you to get out and enjoy. The fishing community is just one of the amazing ways that the Lake gets appreciated even through the offseason. Here are a few fishing events through the month of October that you’ll want to mark on your calendar.

Fishing Events at the Lake of the Ozarks

Osage Beach Fishing Derby
Oct 06, 2018
Osage Beach City Park Lake Front
950 Hatchery Road
Osage Beach MO 65065
Phone: 573-302-7460
Website: https://www.osagebeach-mo.gov/253/Parks-Recreation
Facebook: https://www.facebook.com/OBParksandRec/
Hours of Operation: 9:00 am – 1:00 pm

This is a free event held at Osage Beach City Park Lake Front. Gear, bait, and tackle are all provided! There will be lunch and prize giveaways included at this event as well. This will be an all-around fun time for the family to fish! Assistance will be available as needed.

Fall Big Bass Bash

Oct 06, 2018 - Oct 07, 2018
Lake Wide
Lake Ozark MO 65049
Phone: 314-703-8462
Email: info@midwestfishtournaments.com
Website: http://www.bigbassbash.com
Facebook: https://www.facebook.com/anglersinaction

The Big Bass Event is for Amateur Anglers with 5 weigh-in locations across the Lake. It could be your chance to catch the bass of a lifetime!

The Big Bass Bash is a bass tournament designed for amateurs only. Its unique format allows the weekend angler a chance to win big money like the professionals. Unlike most fishing tournaments which have a team arrangement where prizes are based on total weight, the Big Bass Bash format is distinctive in that it only takes one fisherman just one big bass to win.

Anglers can launch from anywhere on Lake of the Ozarks. The Big Bass Bash will have four weigh-in stations to accommodate the anglers: PB2 (Grand Glaize State Park), Red Oak Resort, Alhonna Resort, & Point Randall Resort.

Alhonna Fall Classic Open Bass Buddy Tournament
Oct 27, 2018 - Oct 28, 2018
Alhonna Resort
677 Outer Drive
Lake Ozark MO 65049
Phone: 573-365-2634
Email: sheryl@alhonna.com
Website: http://www.thealhonnaresort.com/tournaments

Alhonna Resort's Annual Fall Classic Open Buddy Bass Tournament is a 2-day bass tournament with 100% payback of all entry fees. The tournament hours are 7AM to 4PM on Saturday and 7AM to 2PM on Sunday. The tournament entry fee includes a complimentary breakfast at 6AM each morning for tournament participants at Bobber's Restaurant located at Alhonna Resort. Tournament prizes will be awarded directly following the weigh in on Sunday. Guest accommodations are available at Alhonna Resort. All rooms include a complimentary boat slip.

Go Fish! Annual Aluminum Boat Only Fish Off
Oct 28, 2018
Surdyke's Port 20
5395 Spruce Lane
Osage Beach MO 65065
Phone: 214-354-9591
Website: http://www.surdykeyamaha.com

Have an Aluminum Boat or Fishing Pontoon and LOVE Crappie Fishing? Come out and take part in the 1st annual aluminum boat ONLY fishing tournament on Saturday, October 28th! Fish from 8AM to 2PM on the beautiful Lake of the Ozarks. Weigh in's start at 2PM with a fish fry to follow! Cost is $50 per fisherman (or fisherwoman) and all you have to do is fish from an aluminum boat with a working live-well. Grand prize is a brand new Yamaha Kodiak 700 ATV! Must register on SurdykeYamaha.com by October 13th to receive 2 free tickets to the post-tournament fish fry. The first 25 people that sign up get a free T-Shirt too! Come and enjoy a gorgeous Fall day in the Ozarks!

Fall at the Lake of the Ozarks

If you thought you loved summer, just wait until you experience Fall at the Lake of the Ozarks! We have great weather, fun events, and more. If you’ve always thought about buying a vacation home at the Lake of the Ozarks, now is a great time to get one. Our team can help you get pre-approved for a home at Lake of the Ozarks before you start looking. Visit our website or give us a call - we look forward to assisting you!

For Lake area news, resources and tips on financial services, please 

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

Direct: (573) 746-7211

Cell: (573) 216-7258

e-Fax: (866) 397-0318

Email: mlasson@fsbfinancial.com

Website: www.YourLakeLoan.com

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

First State Bank Holds Open House and Ribbon Cutting

The Lake Area Chamber recently held a ribbon cutting for First State Bank Mortgage at their new location at 4655 B Osage Beach Pkwy in Osage Beach. The ribbon cutting took place on October 19 at 4:30 pm, with First State Bank Mortgage's Lake of the Ozarks mortgage lending team of Michael Lasson, Bob O'Steen and Michelle Lasson, other First State Bank Mortgage staff, as well as several Lake Area Chamber staff, board members, and volunteers in attendance.

First State Bank Mortgage

First State Bank Mortgage, a division of First State Bank of St. Charles, is a full service mortgage lender whose professional staff offers expertise in all areas of mortgage lending and an array of convenient online tools for customer account management. Founded in 1867, First State Bank is one of the oldest independent community banks west of the Mississippi and serves customers through full-service banking centers and mortgage offices.

Why Choose First State Bank Mortgage? 

At First State Bank Mortgage, we believe that everyone deserves the opportunity to own their home at the Lake of the Ozarks. Our team strives to go beyond simply providing you with a loan; we help you choose a beneficial, long-term financial solution, and even after your loan closes, we will help you manage your debt over time. With direct access to hundreds of Lake of the Ozarks home loan products, we provide the most efficient way to obtain financing tailored to your specific financial goals. It's our job to offer you peace of mind as we escort your loan application through the entire process, and wade through all the options for your loan, to find the most cost-effective and convenient loan for you!

As part of the First State Bank Mortgage team and your trusted Lake of the Ozarks mortgage lender, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive rates and back it up with the first class service you deserve! Give me a call at 573-746-7211 to get started today!

For Lake area news, resources and tips on financial services, please 

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

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(866) 397-0318

Email:  mlasson@fsbfinancial.com

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

First State Bank Mortgage Loan Programs

Whether you're dreaming of a new home or looking to lower your monthly mortgage payments, we can help! As your Lake of the Ozarks mortgage lender, I am here to help you find the perfect loan for your situation. First State Bank Mortgage provides a full portfolio of fixed and adjustable-rate mortgage products. Here is a breakdown of the loan options availble when you choose me for all your Lake of the Ozarks home financing needs!

Conventional Loan Program – Traditional Mortgage

Conventional loans offer flexible terms and competitively-priced rates. With a conventional loan, you can get financing for up to 95% of your home's value. Whether you're looking to buy a new home or finance your current one, a traditional mortgage is a great option. Benefits of a Conventional Loan include:

• Flexible Terms from 10-30 years available
• Fixed and adjustable-rate mortgages available
• Down payments as low as 5% of sales price
• Multiple options for Mortgage Insurance, if applicable
• Competitive rates on new home purchases and refinances
• In-house processing and underwriting

FHA Loan Program

An FHA loan is a loan that is insured by the Federal Housing Administration. FHA loans offer competitively-priced rates and a low down payment option. Benfits of an FHA Loan include:

• Flexible credit and underwriting standards 
• Low closing costs
• Fixed and adjustable-rate mortgages available
• Down payments as low as 3.5% of sales price
• Competitive rates on new home purchases and refinances
• In-house processing and underwriting

USDA Rural Housing Loans

Sponsored by the U.S. Department of Agriculture, rural housing loans are designed to make homeownership more affordable for those borrowers living in rural communities. For qualified borrowers, a Rural Housing Loan can provide up to 100% financing with competitive rates and terms. Benefits of a USDA Home Loan include:

• Up to 100% financing
• NO monthly mortgage insurance premiums due
• Low closing costs
• Affordable fixed rates
• Flexible credit and qualifying guidelines
• Available on new or existing homes

VA Home Loans

VA Loans are designed to make homeownership more affordable for qualified U.S. veterans. They offer favorable terms, competitive interest rates and no monthly mortgage insurance premium. If you’re eligible for a VA-Guaranteed Loan, you’ve earned several major benefits including:

• Up to 100% financing
• NO monthly mortgage insurance premiums due
• NO pre-payment penalties
• Low closing costs
• In-house processing and underwriting

First-Time Homebuyer Program

The "First Place Loan" offers a great financing option for first-time homebuyers. The program gives first-time homebuyers and qualified veterans the edge they need to purchase a home. Affordable interest rates, in combination with additional incentives offered by the Missouri Housing Development Commission (MHDC), allow prospective buyers to obtain mortgage financing in a competitive market. Benefits of a MHDC First-Time Homebuyer Loan include:

• 3% cash assistance loan for down payment and closing costs
• Fixed-rate mortgage
• FHA, VA, USDA Rural Development, Fannie Mae qualified
• In-house processing and underwriting
• First-time homebuyer requirements are waived for qualifying veterans and for homes purchased in targeted areas

Rehab Home Loan Program

With the brand-new Rehab Loan Program, qualified homebuyers can now buy the home of their dreams and borrow additional funds dedicated to improving or upgrading the property. This is a fixed-rate mortgage that allows the homeowner to have rehabilitation construction completed on their single family property. Funds may be used to make necessary cosmetic or functional improvements to the home.

For more information on which Lake of the Ozarks home loan options you may be eligible for, contact Lakelender Michael Lasson at 573-746-7211. I'm committed to working with you every step of the way. When you choose First State Bank Mortgage and the BEST mortgage lender at Lake of the Ozarks, owning a new home can go from dream to reality!

For Lake area news, resources and tips on financial services, please 

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

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

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

First State Bank Mortgage is Honoring Our Heroes

The Home Loan You Deserve

As a small token of our appreciation, First State Bank Mortgage would like to offer a discount on closing costs to Missouri's first responders. These heroic men and women have stood bravely in the face of danger and we are eager to offer them superior home financing solutions and resources.

First responders that submit a loan application during the month of February that ends in a closed loan will receive $250 off closing costs!

Contact your Lake of the Ozarks mortgage lender today to learn more about our many loan programs!

• First Time Homebuyer Programs
• FHA, USDA & VA 
• Homes for Heroes Program
• 5% Down Conventional Loans
• Jumbo Loans
• ...AND MORE! 

In addition, for every loan application submitted in the month of February that ends with a closed loan, a $50 donation will be made to C.O.P.S.

We are happy to show our support through such an honorable organization. Concerns of Police Survivors, Inc. (C.O.P.S.) provides resources to assist in the rebuilding of the lives of surviving families and affected co-workers of law enforcement officers who have died in the line of duty.

When it comes to your Lake of the Ozarks financing needs, Sr. Residential Mortgage Lender Michael Lasson is committed to working with you every step of the way! I'll discuss your financing options, offer competitive interest rates and back it up with the first class service you deserve and I guarantee. Opening the doors to your Lake home!

For Lake area news, resources and tips on financial services, please 

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

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

First State Bank Mortgage Voted Affiliate of the Year

First State Bank Mortgage was named the "2014 Affiliate of the Year" by the Bagnell Dam Association of Realtors during their annual Installation Banquet last week. This distinction comes to us for the second time in five years.  We were selected as the Affiliate of the Year out of a pool of sixty affiliates who work with the Bagnell Dam Association of Realtors. We are very excited about receiving the Affiliate of the Year award. The award is a great honor and signifies to us that we are trusted and well-respected by our peers in this community.

Bagnell Dam Association of Realtors

The mission of the Bagnell Dam Association of Realtors is to provide education, services and tools which allow members to better serve their industry and the community both professionally and ethically. They promote and protect the right to own, transfer and use real property.

First State Bank Mortgage

First State Bank Mortgage, a division of First State Bank of St. Charles, offers conventional loans, VA, FHA and USDA loans, condominium and second-home loans, jumbo loans, and other mortgage products. First State Bank Mortgage is an Equal Housing Lender.

If you're interested in buying a home at the Lake of the Ozarks, stop by and see me, your favorite Lake of the Ozarks mortgage lender!  When it comes to your financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve and I guarantee!

For Lake area news, resources and tips on financial services, please 

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

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com