Your Lake of the Ozarks Mortgage Lender: financing lake ozark home

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Monday, March 24, 2014

Mortgage Loans Made Easy with Michael Lasson

Many people find themselves overwhelmed with the home financing process, as your Lake of the Ozarks Mortgage Lender, it is my job to ensure that you receive the best loan for your situation as quickly and easily as possible!

Here's an overview of the loan application process

STEP ONE - Pre-Approval Call me first. Why? By giving me some general financial information, I can help you determine how much you will be able to borrow. Having a pre-approved mortgage loan could give you more power when you're looking for a home and negotiating the purchase price. I will also review your credit report and evaluate your debt-to-income ratio. This information will allow you to make an educated choice for your future financial security.
STEP TWO - Application & Processing When you've made your decision on a home or property and have a contract with the Seller, the next step is to complete your loan application. I try to make this process very simple by allowing you to complete this process online or in our office. If you choose to do it online, you select "Full Application" from Apply Now drop-down menu on the left sidebar of my website and complete the application. For those clients that are not comfortable completing their application, we will set up a time that is convenient and complete the process in our office.
STEP THREE - Loan Approval, Funding & Closing Your Real Estate Agent or the Seller will designate an Escrow/Title Company to handle the funding of your loan, along with many other factors which make your purchase go smoothly. The Loan Closing is an exciting meeting where you will complete the final paperwork to purchase the home from the seller, sign your mortgage documents and receive the deed and keys to your new home! We will coordinate with the escrow team and you'll sign the final papers at their office.

Now, How Do I Help You Get the Best Loan??

Customer service is my highest priority. Throughout the loan-application process, I will provide you with regular updates on your loan process. You can also e-mail me with questions or new information anytime. If you need immediate assistance, I am just a phone call away! I do my very best to be available to answer any questions that you may have about your mortgage loan process.

I can make you Lake of the Ozarks Home Mortgage Simple, Straightforward, Cost-Effective, and FAST! As your Lake of the Ozarks Mortgage Lender, I will work hard to help you buy your next home or property.

For resources and tips on financial services, please
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Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct: (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email: mlasson@fsbfinancial.com
NMLS #: 493712

Monday, March 3, 2014

March Comes In Like a Lion and Goes Out Like a Lamb

As March comes in this year, the housing sector continues to roar ahead with good news, while other sectors are struggling. Read on to learn the latest details, and what they mean for home loan rates.

Despite the harsh weather, New Home Sales rose by 9.6 percent from December to January to an annual rate of 468,000, well above expectations. The 468,000 rate was the highest level since July 2008. Pending Home Sales for January also came in just above expectations and well above December's reading. In addition, research firm CoreLogic reported that completed foreclosures fell by 19 percent from January 2013 to January 2014, while the Case Shiller 20-city Home Price Index ended its best year since 2005.

On the other end of the spectrum, the second reading for 2013 fourth quarter Gross Domestic Product (GDP) was, in a word, gross. GDP fell to 2.4 percent from the initial reading of 3.2 percent, sharply beneath the 4.1 percent recorded in the third quarter of 2013. The decline was due in part to consumer spending and exports that were less robust than initially thought, signaling U.S. economic growth remains choppy. However, there was some good news in the report as company spending was revised up sharply, suggesting an improvement in business conditions.

In labor market news, weekly Initial Jobless Claims rose by 14,000 in the latest week, reaching a one-month high as the job markets continues their up and down pattern. The labor market has been choppy lately, especially after the anemic number of job creations in December and January.

What does this mean for home loan rates? Remember that the Fed is now purchasing $35 billion in Treasuries and $30 billion in Mortgage Bonds (the type of Bonds on which home loan rates are based) to help stimulate the economy and housing market. This is down from the original $85 billion per month that the Fed had been purchasing. With the December and January job creation numbers far below expectations, the Fed will be looking closely at February's numbers for any signs of a pattern. If this report and other key economic data points are weak, the Fed may have to rethink the tapering it has begun. This story is sure to impact the markets and home loan rates as we move ahead in 2014.

The bottom line is that now remains a great time to consider a home purchase or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.

I would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance. Give me a call at (573) 746-7211 or send me an email at 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

Tuesday, February 4, 2014

2013 New Home Sales Increased by 16%

"Cold as Ice." Foreigner. While many parts of the nation were dealing with icy conditions last week, the markets were heating up with a slew of economic reports and another taper announcement by the Fed. Read on for details.

There was a mix of good and bad housing news last week, as Pending Home Sales were down 8.7 percent in December from November. The report cited harsh weather for the decline. New Home Sales also fell by 7 percent from November to December, to an annual rate of 414,000. While the December number was below expectations, there was good news for 2013 overall, as builders sold an estimated 428,000 new homes—16 percent more than in 2012.

Research firm CoreLogic also reported that completed foreclosures declined 14 percent from December 2012 to December 2013. However, the Case Shiller 20-city Home Price Index fell by 0.1 percent from October to November, the first decline since October to November of 2012. Overall, the housing market continues to improve.

Also of note, December Durable Goods Orders (orders for items that last for an extended period of time) fell by 4.3 percent, the biggest decline since July. Meanwhile, Gross Domestic Product (GDP) in the fourth quarter of 2013 rose by 3.2 percent. This was above expectations, but below the 4.1 percent recorded in the third quarter of last year. The gains were led by a burst of consumer spending and an uptick in business investments. This is significant, as GDP is the broadest measure of economic activity. And inflation continues to remain tame, according to the Personal Consumption Expenditures Index.

What does this mean for home loan rates? Despite some weak economic reports, the Fed decided to taper its Bond purchase program by an additional $10 billion, noting that economic activity has picked up and the labor market continues to improve. Beginning in February, the Fed will now be purchasing $35 billion in Treasuries and $30 billion in Mortgage Bonds (the type of Bonds on which home loan rates are based). These purchases have been designed to stimulate the economy and housing market, and the figure is now down from the $85 billion in Bonds and Treasuries the Fed had been purchasing last year.

The timing of further tapering by the Fed will impact Stocks, Bonds and home loan rates throughout the year. It is a key story to monitor as we move further ahead in 2014.

The bottom line is that now remains a great time to consider a home purchase or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.