Step Into the Lake Home of Your Dreams – Tips for Buying a Second Home

Buying a second home at Lake of the Ozarks may seem like a daunting task but with Team Lasson on your side, it’s not at all! Our thorough explanation of your options and consistent communication throughout the entire process makes buying a breeze! If you're ready to start looking for your vacation home at Lake of the Ozarks, check out our tips below. 

Save for a Down Payment

A down payment is often a requirement for a second home purchase. Sometimes more of a down payment is needed than a first home. It all depends on the mortgage option that works best for your financial situation. It's best to be prepared and have a down payment saved up ahead of time. 

Evaluate Debt to Income 

Your debt to income ratio is a major factor in a mortgage loan. You'll want to evaluate your current situation and start making improvements in areas you can. Our team can also take a look at your finances and make suggestions on how to best set yourself up for approval on a second home mortgage. 

Consider Additional Budgetary Factors

While the mortgage payment is likely the largest cost of buying a second home, you'll want to consider the other factors you may not have with your primary residence. Security, maintenance, a dock, and special insurance for waterfront properties are all additional costs you'll want to factor into your overall budget. 

Get Pre-Approved!

The most important step in starting the search for your second home is getting pre-approved. A pre-approval gives you an idea of how much of a home you can afford. It also gives you a leg up on the competition when it comes time to make an offer on your dream lake home!

With more homes coming on the market every day, now is the time to get serious about your second home search. Get your home buying journey started on the right foot and get pre-approved for a mortgage at Lake of the Ozarks today! To get started, give us a call at (573) 746-7211 or visit our website at www.yourlakeloan.com!

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Michael Lasson

Senior Loan Officer

NMLS #: 493712

First State Bank Mortgage – Michael Lasson 

2751 Bagnell Dam Blvd Suite B 

Lake Ozark, MO 65049

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.

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

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.

A Few Essentials When Hosting Thanksgiving at Your Lake Home

Turkey Day is quickly approaching, which means it's time to get together to give thanks, eat some delicious food, and create memories with family and friends. If you haven't hosted a Thanksgiving holiday yet it's one of the best ways to experience Thanksgiving celebrations, even more so if you own a second home at Lake of the Ozarks! Turn your Thanksgiving celebration into a family getaway to your lake retreat this holiday season for a seriously festive and immersible experience they won't soon forget! Now that you have the idea, here are a few tips to help ease the process of hosting thanksgiving from your Lake home.

Lake Home Atmosphere

Lake of the Ozarks is renowned for the beautiful Fall foliage, where vibrant hues of red, yellow, and orange take over the pristine hardwood forests, making it the perfect Thanksgiving setting, and you can expand this sense even further by using natural seasonal decor when decorating the interior and exterior of your vacation home. Using items such as pumpkins, wheat stalks, gourds, acorns, autumn leaves, and branches are just some examples of natural decor that enhance the Fall atmosphere. This will help you create a wonderful experience for your guests as they celebrate the Thanksgiving holiday. 

"Stuffing" the Kitchen

You'll likely have an entire spreadsheet filled with things that need to be done before the Thanksgiving celebrations can begin. It's a lot for anyone to remember, so while your "stuffing" the turkey, don't forget to "stuff" the kitchen as well. Here are a few essentials that you'll want to ensure you have around the kitchen:

• Turkey baster
• Meat thermometer
• Varying sizes of pots & pans
• Ladles, whisks, & spatulas
• Sharp knives
• Pie Tins
• Baking Sheets
• Roasting pans

We'll leave the food list to you, but some essential cooking items that are often overlooked are cooking oil, milk, butter, spices, and flour. Just in case they missed the first list.

Plan Fun Activities Around the Lake

Everyone has their own way of celebrating Thanksgiving, whether it's playing football outside, watching the game inside, or chatting up friends and family, it's important to have activities planned so that everyone can enjoy Thanksgiving in their own way. If some of the guests are ready to see what Lake of the Ozarks has to offer this time of year, check out  FunLake for a calendar full of events and holiday activities. So whether it's crashing on the sofa after the meal or hitting the town for horseback riding, pumpkin picking, hiking, or fishing, there's something for everyone here at Lake of the Ozarks.

Buy a Lake Home

If you're in love with the idea of celebrating Thanksgiving at a vacation home at Lake of the Ozarks but don't own a lake home yet, don't worry! Now is an excellent time of year to purchase a home at the Lake, the interest rates are phenomenal, the housing market is booming, and there are motivated sellers looking to begin their new chapter while you begin yours. If you're ready to start the processing of becoming a homeowner at the Lake, Team Lasson would be honored to assist you in securing 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

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.

Things to Know When Buying a Vacation Home in 2020

2020 has been quite the year for the real estate market. Homes are selling right and left and the interest rates are phenomenal, which means that if you have been considering purchasing a vacation home at Lake of the Ozarks, this is the time to get involved. Vacation homes at the Lake are considered an excellent investment, but with any investment, there are a few things you will want to know going into this purchase. Here are a few things that may be helpful as you navigate real estate buying at Lake of the Ozarks through 2020.

Consider Your Budget

This is the first and most important step in purchasing a new home - how much can you afford? The cost of the home is just the beginning, as you will also want to consider property taxes, insurance, utilities, and HOA fees. You will also want to plan for the additional items like furnishings, seasonal gear (dock and boating accessories, water toys, etc.), kayaks, and more.

One easy way to figure out how much home you can afford is by getting the process started with a pre-approval. You can visit our website at www.yourlakeloan.com, fill out the application, and when we have finished running the numbers, we will let you know the maximum amount you can spend on a new property.

Take Advantage of the Interest Rates

If you have been thinking about purchasing a home, there really is no time like the present. The reason you should make the consideration now is that the mortgage rates are exceptional. While this may not be a great reason to make a sudden decision to buy a home (but it is still a consideration!), it is a good reason to change your timeline if you have been considering it, but just were not sure when you wanted to take the leap. For all the people buying homes, we are also seeing a large surge in people refinancing their homes, so knowing what is happening in the interest rate world should play a role in your thought process when buying a vacation home at Lake of the Ozarks.

Consider Your Long-Term Goals

When you are planning on buying a home in 2020, it is important to think about long-term goals. Will you want a place to retreat to on the weekends, or are you looking for a place to get out and enjoy time with friends and family. Are you looking for an investment property? Or you are planning for a potential retirement home? Thinking about your future plans for the property will not only help you know what type of home to get and where, but can also help with the type of loan that you will choose as well. Investment properties can have different requirements, so if you are planning on going that route, it is better to know in advance.

2020 Is Your Year

If you have been dreaming about buying a home at Lake of the Ozarks, this could be the year for you. We invite you to visit our website and learn more about our mortgage division at Lake of the Ozarks, as well as fill out an application for a pre-approval. We look forward to working with you and helping you secure the home of your dreams a Missouri mortgage. Happy house hunting!

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.

Finding the Best Location For a Second Home at Lake Of The Ozarks

Location, location, location - this is the big topic that everyone thinks about when purchasing a vacation home at Lake of the Ozarks. Which side of the Lake do you want to live on? What types of amenities do you want close by? What type of home do you want? These are just a few questions that a real estate agent will be able to guide you through as you start your search for the best vacation home in Missouri. If you are just at the beginning of your search, you may want to know about the communities where you can buy a home - so we have just that for you. Here are just a few of the amazing places you can live when you purchase a vacation home at Lake of the Ozarks.

The Village of the Four Seasons

If you are looking for a place to buy a home that is close to all of the amenities and has a vast array of property styles, this is it. With lake views, lake access, and even exclusive amenities, you will love The Village of the Four Seasons community and Team Lasson would be honored to assist you in getting pre-approved. Here are just a few of the benefits to choosing The Village of the Four Seasons:

• Pools
• Playgrounds
• Fitness Center
• Tennis Courts
• Interior Lakes
• Community Center
• Campground
• Boat Storage
• Boat Ramps
• Basketball
• Bocce Ball

Old Kinderhook

If you are interested in purchasing a home in Camdenton, MO, the Old Kinderhook community is an amazing choice. The combination of luxury living with different types of homes, cottages, patio homes, lakefront condominiums, and even estate homes makes it easy to find anything you could dream of. Here are a few things available at Old Kinderhook to make your stay even better:

• Golf
• Spa
• Boating
• Outdoor Ice Skating Rink
• The Sand, and more

Porto Cima

Porto Cima was designed to be one of the finest golf and boat communities in the Midwest. The subtle Mediterranean theme combined with the special privileges that are only available when you own a home in Porto Cima makes the experience superb. In addition, if you are looking for access to the best golf courses at Lake of the Ozarks, this is just one of the perks. Here are a few other things you get to enjoy when you live inside the limits of Porto Cima:

• Golf Shop
• Restaurant
• Member dining and the 19th Hole Lounge
• Exercise facilities
• Outdoor dining overlooking Hole #18 and Lake of the Ozarks
• Banquet facility
• Private events facility
• Ladies and men’s locker rooms, each featuring its own fitness area

Villages at Shawnee Bend

This community is situated on the southern shores of Shawnee Bend and it offers an incredible combination of privacy and seclusion. If you are looking for a home in one of the premier luxury home development areas, this is for you. Not only will you enjoy the privacy that a home in the Villages at Shawnee Bend can provide, but you will also have easy access to the Lake area activities. Here are a few other amenities that are available:

• Large, naturally wooded homesite choices
• Ten miles of unspoiled shoreline
• Championship tennis courts
• Community pool & clubhouse
• Community areas and natural habitat land reserves
• Park & playground areas
• Community marina

Now Is The Time to Invest in a New Property

If you have been waiting for just the right moment to buy a vacation home at Lake of the Ozark, this is the time. We are seeing the most incredible rates for our customers right now, and we want you to be the next. Wait no longer and get your application submitted on our website. There is still time to lock in the rates, and we look forward to assisting you with your Missouri Mortgage.

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.

Four Reasons to Buy a Home at the Lake of the Ozarks

We love our Lake community, now more than ever. It is a wonderful place to enjoy a Summer vacation and an even better place to settle down and start a life. If you have been considering buying a home at Lake of the Ozarks, we would love to be the first to say “DO IT!” If you are still on the fence, as your local mortgage lenders at Lake of the Ozarks, we feel qualified to share a few reasons why you will love having a home here - because we do!

1. Location, Location, Location!

One thing that makes the Lake so unique is that it is so centrally located. The Lake is close enough to easily make the trip in a morning or afternoon for many people that live in or around Missouri, but still far enough away to feel like a true getaway. Lake of the Ozarks is located in the center of the big city triangle where it is easy to get to and even easier to enjoy.

2. A Variety of Activities

You can find just about anything at the Lake, from concerts and live music to quiet picnic locations and relaxing lakefront sunrises. Whether you are a fun-loving extrovert who wants vacation to be the life of the party or a quiet introvert who uses this time to get close to nature, it is here! Owning a lakefront home at Lake of the Ozarks provides you with an easy vacation destination in Missouri, and you will look forward to coming back on weekends or for extended vacations. Hiking, biking, golfing, fishing, hunting, bar hopping, boating, dancing, shopping, dining, or reclining - it is all happening at Lake of the Ozarks.

3. Every Season Has Something to Offer

While the highlight of the Lake is the Summer season, there are aspects to appreciate about every season at Lake of the Ozarks. When you own a home at Lake of the Ozarks, it makes it so much easier to come down regularly, and then you really get to appreciate what the other seasons have to offer. Summer is obviously high energy, exciting, busy, and filled with life and laughter. However, Fall has a different sort of appeal as the changing leaves are breathtaking, and fishermen and golfers tend to take advantage of the gorgeous weather. Winter is definitely a quieter season, but there are so many fun events and ways to get involved with the community that you may find you enjoy this slow-paced and enjoyable season more than you may have expected. Obviously, Spring is the preface to Summer, but it also has its own appeal. Leaves are popping, flowers are blooming, and local activities are kicking off. The weather is mild, and there are many Springtime events to be enjoyed.

4. A Relaxing Retreat

While the activities, dining options, and events can be a huge draw, there is still one other - the quiet getaway in your very own vacation home at Lake of the Ozarks. With so many different home styles and locations on the market, you are sure to find the home of your dreams at the Lake. One of the most refreshing and enjoyable moments can be waking up on a bright and breezy morning, fixing a delicious breakfast, and enjoying it from the comfort and privacy of your very own lakefront home.

If you are considering purchasing a second home at Lake of the Ozarks, this is a wonderful time to do it. If you are not sure whether it is the right financial step for you right now or are curious about what types of rates you can get, we invite you to fill out at application on our website (www.YourLakeLoan.com). We can run some quick numbers and give you pre-approval to get you moving in the right direction. Make 2020 memorable because you have purchased a dream vacation home at Lake of the Ozarks!

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.

Decorating Tips for Your Vacation Home

As Summer gets closer, now is a great time to think about your vacation home’s design and maybe update it. Your vacation home at the Lake of the Ozarks is a respite, a place to escape, and where worries do not exist, and the design should reflect that. Here are a few things to keep in mind as you start dreaming about those Summer days in your Lake of the Ozarks property and thinking about the way you decorate it!

Choose a Vibe Over a Theme

Instead of choosing a theme for your vacation home, like shells or boats, aim for a vibe. Trying to find the items that create a theme is going to not only take a lot of time and money, but you can also lose the unique style you bring to the table in search of the pieces to make this style. Instead, try to think a bit more outside the box and tap into your own style and the way you want to feel when you enter the home. Instead of filling your walls with matching style decor, choose one or two pieces for the home, and then look for something that is a bit outside of the box. Find a vintage map of the lake and frame it, or locate a cool piece of driftwood to turn into wall art.

The Vacation Vibe with Wall Color

It is amazing what kind of tone a wall color can set for a home, and your vacation home is no different. A great rule of thumb is to bring the colors of the outside to the inside, and then add complementary colors against them to create a beautiful and subtle combination of colors, shades, and textures.

There are many different ways you can choose the paint color, whether going for something bold and dramatic or neutral and natural - but the walls of your home can easily tie everything together and really make the space feel vibrant and fresh.

Invest in Outdoor Spaces

Outdoor spaces are becoming more and more popular, and the lake area is not exempt! There are so many reasons to focus on your outdoor living spaces, and one of the best ways to invest in them is to add a little light. Adding some cafe lights can take your home to a whole new level and can help create a space that everyone will want to enjoy all Summer long. The Bohemian look is also in for beach homes, so it can work for lake homes as well. You can easily build furniture from scrap wood and embody the whole rustic and weathered look!

Scale Back on the Furniture

You will want to include plenty of furniture outside of your vacation home, but it is okay to keep things light and airy indoors. This means that you do not have to dedicate your entire budget to the indoor furniture and can feel free to mix and match things until you find the right look. Simple, eclectic, spacious, and clean can all be words you use to think about your space. Think about the items you really do need, like comfortable beds and couches, and steer clear of other items like big bulky dressers that you will not fill for short-term vacations.

Creating a New Space

Now is a great time to really hone in on what you want to achieve in the look of your vacation home! Summer will be here before you know it, and you will want to have a home that is functional, clean, and stylish. If you are still looking for the perfect lake home at the Lake of the Ozarks, there is still time to make your purchase. Team Lasson is here to assist you with financing your new vacation home at the Lake of the Ozarks. We look forward to welcoming you down here and enjoying this wonderful area together!

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.