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!

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.

Financial Spring Cleaning for Credit Education Month

Now is a great time to start some Spring cleaning - and while this can easily apply to your vacation home at the Lake of the Ozarks, the real cleaning we are talking about is in your finances. March is Credit Education Month, and a wonderful time to talk about credit and how you can always be improving your score.

Team Lasson is helping so many people buy the home of their dreams, and if you want to buy real estate in 2020, we want to help you as well. Here are a few ways you can start improving your score and getting ready for your next mortgage.

1. Be Aware Of Your Score

No matter what your credit goals are in the coming months, you have to know what your score is so that you know what you need to do to improve it. There are several ways you can request a copy of your credit report, so make sure you take advantage of the opportunity. In fact, many places offer it for free, so do some research and get started. You will want to make sure that you check for errors that could be negatively impacting your score.

2. Keep Up On Your Payments

This is of utmost importance - you need to pay your bills on or before the due date. A late payment can knock a few points off of your score - and that is before it goes to collections. Late payments can also stay on your credit report for a while, so it is important to avoid paying late.

3. Build Your Score Wisely

The value of having a good credit score is that it can give a lender a snapshot into how you will handle a line of credit. If you have no credit history, there are ways to start building your score through smaller loans and making your payments on time. With some diligence, you can have a positive credit history to show future lenders!

4. Manage Your Credit Responsibly

When considering your credit lifestyle, less is actually more. You can cancel credit accounts and get new ones, but this can cause a negative impact on your credit score and take a lot of time to repair. You may even want to start limiting your credit. When limiting your credit, you may want to avoid applying for new accounts, transferring balances, or concentrating all of your credit-card balances onto a single card - these actions can lower your credit score.

Considering Buying a Vacation Home?

If you have been dreaming about a relaxing vacation at the Lake of the Ozarks, this may be the perfect time to buy a vacation home at the Lake of the Ozarks! Team Lasson can help walk you through the mortgage steps and make the best choices for your credit accounts and finances. If you are ready to get started, visit our website (www.YourLakeLoan.com) to submit your application. We will review it and can then discuss the best plan of action based on your finances at the time. We love helping people secure their dream homes, and we cannot wait to assist you on the journey of a lifetime!

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.

Ways to Enjoy the Great Outdoors at the Lake of the Ozarks - Part 1

June is Great Outdoors Month, and there’s no greater place to enjoy it than the Lake of the Ozarks. With many different types of scenery and activities, a vacation at the Lake of the Ozarks would not be complete without some outdoor activities. Whether you enjoy several trips to the Lake Area or are only visiting occasionally, here are a few things you MUST add to your list to enjoy this month.

By Land

The big hitter is obviously the Lake, but enjoying the great outdoors by land is also a fantastic way to see a different aspect of our area. There are so many great ways to enjoy the land surrounding the Lake of the Ozarks, so here are a few popular ones, as well as a few that may not come to mind.

Cycling

Did you know that the Lake Area offers a variety of riding for cyclists? There is something for everyone, including road cyclists, mountain bikers, and recreational riders - but all must bring their own bikes. The Lake of the Ozarks State Park offers a 16-mile single track trail for mountain bikers, while casual riders and can enjoy up to 9 miles of paved multi-use trail starting at the Village of Four Seasons.

Hiking

There are over 32 hiking trails at the Lake of the Ozarks, for varying skill and interest levels. There are 12 trails at Ha Ha Tonka State Park, 11 trails at the Lake of the Ozarks State Park, as well as other locations and businesses with private trails for customers and clients. These trails are beautiful in all seasons and worth checking out.

Hunting

Did you know that many people come to the Lake for hunting? The most popular species to hunt in this area are deer and turkey, and they thrive because of both the wooded areas and farmlands. There are some hunting preserves around the area, but the other two popular options are to makes friends with someone who owns private land or find a landowner that offers a land-lease package for hunting.

Bird Watching

Watching the birds can be a relaxing and educational way to enjoy the outdoors. It also requires very little equipment and can be done from just about anywhere. The Lake of the Ozarks is a natural water environment that is a feeding and resting ground for many species of wildlife, including a wide variety of birds. A few to keep your eyes peeled for are the great blue heron, hawks, ducks, wild turkey, pectoral sandpipers, cliff swallows, terns, American goldfinches, ruby-throated hummingbirds, robins, bobwhites, whippoorwills, cardinals, blue jays, wood thrushes, eastern meadowlarks, phoebes, belted kingfishers, pileated woodpeckers, and the turkey vulture.

Caves

Missouri is known as the cave state, so it shouldn’t surprise you when we say that there are four beautiful show caves at the Lake of the Ozarks. Of course, there are wild caves as well, 300 wild caves to be exact! The difference between wild and show caves is that show caves have been “tamed” and are easier to walk through and enjoy.

Our four beautiful caves that you can visit are Bridal Cave, Jacob’s Cave, Stark Caverns, and Ozark Caverns. If you need more information about these locations, FunLake.com provides great information.

Golf

If you want to hit the greens while you’re at the Lake of the Ozarks, there are plenty of amazing courses for you to try. The Lake of the Ozarks is actually the Midwest’s premier golf destination, because there’s nothing quite like playing on a course designed by Arnold Palmer, Tom Weiskopf, Fred Farley, Ken Kavanaugh, Robert Trent Jones Sr., Jack Nicklaus, or Von Hagge/Devlin. With the many different courses, you will be able to enjoy the great outdoors and also improve your golf game.

It’s Time to Get Outside!

Don’t worry, we haven’t forgotten about the amazing Lake activities - we’ll be featuring those in another blog this month! When you come to the Lake of the Ozarks, if you find yourself spending most of your time on the water, take a look at this list and pick a few items to enjoy by land. The Great Outdoors Month is the perfect chance to get outside, even at your own vacation home at the Lake of the Ozarks. Don’t have a vacation home yet? Team Lasson is ready to assist with all of your mortgages at the Lake of the Ozarks. We specialize in both second homes, primary residences, and more. Visit our website to learn more about our mortgage services at the Lake of the Ozarks, or to fill out your application to get started. We look forward to assisting you one of the most fun adventures you can enjoy! Stay tuned for part #2 - we’ll share some great ways to enjoy the water.

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.

The Best Loan Type for Second Homes

The Lake of the Ozarks is an incredible place to live for both full time and vacationers alike. It is no surprise that after a few vacations in the area you may already be dreaming of owning a vacation home at the Lake of the Ozarks. Team Lasson makes it our goal to help you accomplish this by providing mortgages at the Lake of the Ozarks. If you already have a mortgage, here are a few things you can keep in mind as you make plans to take on a mortgage for your second home.

What Financing is Available for Vacation Homes?

There are two paths that will lead you to your vacation home. You can take out a conventional mortgage loan for the purchase of the new home or you can refinance your present mortgage or take out a home equity loan (aka home equity line of credit, HELOC) on your existing property. Here are a few important details about each of these loans types.

Conventional Loans

This process will be similar to paying a mortgage for a primary residence. You will have to put down an initial down payment, and from there set up a payment plan over a span of 30 years. These loans also come with either a fixed or adjustable interest rate.

What makes this different than your mortgage on your primary residence? Second homes require a larger down payment. They are also suited to individuals who are stable in their career and lifestyle. You will need a good credit score, stable income, and a low debt-to-income ratio, and be able to show an ability-to-repay to meet the lending guidelines. Another difference is that you will need to prove that this new residence will be a vacation home and not an investment property.

Home Equity

Another option would be to borrow from your existing property equity, and there are a few ways to accomplish this. One of the more popular ways of doing this would be to take out a HELOC. A HELOC is a line of credit backed by the equity you have in your home. Your primary mortgage would stay the same, and the HELOC would count as a separate loan. These loans usually carry variable interest rates and they require good credit scores.

A Home Equity Loan or Second Mortgage is another popular option. They are also backed by the equity you have in your home. This provides you with your funds in a lump sum, rather than a line of credit that you draw from and pay off repeatedly. These loans typically have fixed interest rates.

Another option would be to refinance your primary home to pay off the existing mortgage and take additional funds out of the equity to use to purchase the new property.

5 Things to Remember About a Vacation Home Loan

Here are 5 things that we briefly mentioned above, but that you will want to focus on while planning your vacation home loan at the Lake of the Ozarks.

1. Good credit
2. Ability to make a down payment
3. Qualifying savings
4. Low income-to-debt ratio
5. Proof that the property will be a vacation home

Time to Finance Your Vacation Home

Team Lasson would be honored to assist you with purchasing your vacation home at the Lake of the Ozarks. From fishing cabins to million dollar mansions right on the Lake, our team is here to make the process as easy as possible. Visit our website to learn more about our mortgage services, or give us a call to get started. We love the Lake of the Ozarks, and cannot wait to help you love it as well.


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.

3 Easy Ways to Prepare for a Vacation Home Loan

Many think of the Lake of the Ozarks as a vacation destination, but it’s also the perfect place to live. The lake is great for seeking rest and relaxation, or a beautiful retreat from hectic city living. Have you been thinking about buying a vacation home at the Lake of the Ozarks? I would be honored to assist you with your home loan at Lake of the Ozarks. Here are three things you can keep in mind as we get the process started on owning a home or condo at Lake of the Ozarks.

Think About Your Goals

What do you want to do with your vacation home? Do you need a place to stay on the weekends, holidays, or during the summer? Will this be a home that you retire to in the next several years? Do you intend to use it as an investment property and rent it during the times you aren’t using it? Owning a second home may come with some nice benefits, like tax write-offs, but this all depends on how you will be using it.

Start with the Numbers

We can take an in-depth look at the numbers when you start working with us. There are a few key factors to consider, and the first is how much of a down payment you have. This will impact the type of loan you can obtain, as well as your interest rate and monthly payments. If you have a stable income with a cash reserve, you are on your way to being a vacation homeowner at the Lake of the Ozarks! You should also think about property taxes, insurance, maintenance, repairs, furnishings, and property management fees. You can prepare for those more down the road, but you'll want to keep those expenses on your radar.

Think About Loan Terms

What type of loan do you have on your primary residence? It’s most likely a 30-year mortgage. While that works for your first home, it may not be the best option for your vacation home at the Lake of the Ozarks. So, what is the best option for you? Let's We will take a look at your finances and overall picture to determine what works best for your situation. We can talk about the different loan programs and terms when we discuss your lending options.

Let’s Get Started!

The first thing you need to do is complete an online application at www.yourlakeloan.com. Before you know how much you can spend on a vacation home, you’ll need to get pre-approved. This will make your entire real estate buying experience smooth and efficient. After you’ve been pre-approved, your real estate agent will have a better grasp on what you can afford and will be able to find the right property for you. Once you find the perfect property, we will assist you through the loan process so you can be relaxing in your vacation home before you know it. Visit our website to learn more about our services, or follow our social media channels to stay in touch.

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.

Prepping for Your Mortgage Application

While the mortgage application process may seem daunting, tedious and time-consuming, don't let that stop you from getting started. If you're in the market to purchase a home at the Lake of the Ozarks, I'm here to help. Start early and prepare properly, applying for a mortgage will be easier than it looks. As your Lake of the Ozarks mortgage lender, I'm here to work with you every step of the way!

Start Early 

The earlier your start preparing for the mortgage application process, the better off you'll be. If you know that a home purchase is coming in the near future, start getting yourself ready. One of the first things you can do is be aware of your credit score by reviewing your credit report. Your credit score is an important determining factor when applying for a home loan at the Lake of the Ozarks. Not only do you want to be aware of your score, but you also want to check your report for any errors that may be on there. If you find that you have a low credit score, now's the time to start repairing your credit before you apply for a loan. Your mortgage lender can advise you on the best steps to take in this situation. Communication with your lender is key to a successful mortgage process; you don't have to go through this alone. 

Repair Your Credit 

If you have credit card debt, start paying down that debt. Your debt-to-income ratio plays a big role in your mortgage approval. Keep in mind though, that you don't want to drain your savings trying to pay off your debt. You need to have cash for a down payment, closing costs and an emergency fund. Whether you have debts or not, it's important that you also don't open any new credit accounts or make any large purchases on credit right before you apply for a home loan or during the loan process. The new furniture and household items can wait to be purchased after you close on your new home at the Lake of the Ozarks. 

Gather Your Documents

Not only do you need to be aware of your financial situation, but your lender is going to need verification of your income, assets and debts. By gathering these financial documents ahead of time, you'll save yourself the headache of searching for them later, which could delay your mortgage approval. Gather your recent pay stubs, statements for bank accounts/investment accounts/retirement accounts, the last two years of tax returns, along with W-2s, 1099s and K-1s. 

Know Your Numbers 

Before you start house hunting, it's important to know how much you can afford. To determine this, you'll want to get a mortgage pre-approval from your mortgage professional at the Lake of the Ozarks. Together you will be able to determine how much you qualify for and how much you can comfortably afford for your monthly mortgage payment. You can also discuss how much money you will need for a down payment and closing costs. Having all these numbers in mind before you start the process will ensure a successful home buying experience. Finding a home you love that you can't afford would be the worst.    

As your local mortgage lender, I'm here to work with you every step of the way. I'm here for all your Lake of the Ozarks home financing needs. I'll discuss your options, offer competitive interest rates and back it up with the first-class service you deserve. If you're thinking about purchasing a new home in the near future, talk to me today - call 573-746-7211!

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.

Getting to Know Michael Lasson, Your LakeLender!

Getting a home loan at the Lake of the Ozarks is a big step to take.  It is important to find someone you can trust that will help you make the best decisions for you and your family.  We decided to ask Lakelender Michael Lasson a few questions about himself so you can get to know him better before choosing him to help you with this important aspect of your life.

1. Where did you go to school?
I attended Brother Rice High School in Chicago Illinois.  Then in July of 1993, I moved to Central Missouri.

2. Tell us about your family.
I am married to a wonderful woman, Michelle.  I have 6 children, Krystopher, Kristina, Andrew, Amber, Dareth and Becca, as well as a daughter-in-law, Megan.  I also have 3 beautiful grandchildren, Easton, Kayden and Hudson.  

3. What kind of music do you listen to?
I listen to 70's and 80's country mostly, plus a variety of others.  However, you won't find me listening to any heavy metal or rap; I don't like that at all!

4. What do you enjoy doing when you are not working?
I enjoy camping with the family and of course playing with the grandchildren.  Being a dad and a grandpa is one of the best experiences you'll ever have!

5. What is something about you that no one else knows?
I am deathly afraid of heights!  I love the Chicago Cubs, but am also told that I am a closet St. Louis Cardinals fan.

6. What motivates you at work?
Being able to help people is what motivates me most.  Being at the closing and knowing that because of my actions these people have purchased the primary home or vacation home of their dreams  And because of my help, they will be making lifelong memories in their new home at the Lake of the Ozarks.  

7. What is your favorite restaurant?
We have some of the best food here at the Lake of the Ozarks and nothing is better than Baxter's or Wobbly Boots!  But when I am traveling, I enjoy stopping at a Waffle House or Cracker Barrel. When I visit back home in Chicago, I have to go to Portillos; they have just great Chicago food! Arby's would have to be my favorite fast food place.  I also love White Castle, but my wife hates it!

8. Who is the one person that you admire most?
Actually, there are two people that come to mind.  I admire my wife Michelle because she is a great wife, mom, grandma and daughter, and just a good caring person.  I would not be the person I am today without the guidance of her.  For business, I also admire Bob Gattermeir.  I have always liked the way that he does his business and he is always very helpful in helping those around him succeed whether it affected him or not.  He is a really good people person with a heart that cares.

9.  What is your favorite movie and why?
I enjoy mostly comedies and then some musicals. My all time favorites would include Grease, Smokie the Bandit the original and Hair Spray.  Most recently, I really enjoyed Frozen.  I love them because they are uplifting and make me laugh.

10. Are you involved in any charitable groups?
I split up a lot of my time with the Bagnell Dam Association of Realtors and we have done several charitable things over the past 15 years or so.  In the past, I have been involved with the Eldon Lake Ozark Soccer Association (ELOSA), Eldon Baseball Association, and I'm sure I will be again as my grandchildren grow up in the ranks.        

When it comes to your financing needs, Michael Lasson is commited to working with you every step of the way. He'll discuss financing options, offer competitive interest rates on your Lake of the Ozarks mortgage loan and back it up with the First Class Service you deserve!  Now is a great time to consider purchasing or refinancing a home, so give him a call today at 573-746-7211 or send an email to mlasson@fsbfinancial.com with any questions you may have.

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