Things to Consider Before You Start House Hunting

If you have been thinking about purchasing a home at Lake of the Ozarks, it can be tempting to start the process by scouring the MLS listings. Before you start daydreaming about the perfect home and choosing the location where you want your vacation home at Lake of the Ozarks to be - there are a few things you can do to give you a good start. Team Lasson is here to help, so we have a few tips to get you started before you begin looking for a home.

1. Speak With A Mortgage Lender

One of the first things you may think to do when you are ready to purchase a home would be to speak with a real estate agent. While it will be vital to speak with a reputable real estate agent to buy a home, it’s not necessarily the first step in the process. When you speak with a mortgage lender first, you will get a good idea for how much you can afford in your monthly mortgage. We will start with a pre-approval for a mortgage loan, and you can apply for this by simply going to our website (www.YourLakeLoan.com)

2. Decide What You Want In Your Home

Before you start looking at homes and are fascinated by their charm and appeal, you should sit down and decide what you genuinely want. Do you want your vacation lake home to have an amazing view? Would you prefer a large kitchen or plenty of guest room space? Spend this initial time making a list of needs and a list of wants so that you can pick through homes accordingly once you start your search.

3. Start Saving For A Down Payment

If you have not already started saving for a home purchase, start now! Depending on the loan program you are looking to obtain, you do not necessarily have to have the traditional 20% down payment these days, however, the more you can put down, the better off you will be. Not only will you start this transaction off with a little equity in your home, but you're also likely to get better rates and terms if you have a nice size down payment.

4. Get A Mortgage Preapproval

Before you dive into the house hunting process, it's important that you talk to a mortgage lender at the Lake of the Ozarks and get a mortgage pre-approval. The pre-approval is the first step any serious home buyer should take. Not only does the process help you determine what you can afford, it shows both sellers and real estate agents that you're serious about buying a home. Real estate agents will be more eager to work with you and sellers will likely be more willing to negotiate and/or accept your bid over those who don't have a pre-approval.

After you have completed these steps, now you can start your home search. You, your mortgage lender, and your real estate agent will all work together throughout the entire home buying process. If you are ready to start the process, give me a call at 573-746-7211 today! As your Lake of the Ozarks mortgage lender, I am here to help you with everything from the pre-approval to the closing. I will discuss your options, offer competitive interest rates, and back it up with the first-class service you deserve!

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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.

Why You Should Work With A Local Mortgage Lender

The home buying process is going to be filled with questions, concerns, complexities, and a really rewarding finish! If you have purchased a home before, you may have experienced the work that is involved, but you also know the relief and excitement that comes with signing the mortgage paperwork, getting your keys, and walking through the front door of your new home. All of the challenges can be made so much easier when you have a team of experts behind you, which is why we suggest hiring a local mortgage lender when purchasing a home at the Lake of the Ozarks. When shopping for a mortgage, it is definitely important to get a competitive mortgage interest rate, but you also want to have a professional and experienced mortgage lender working for you. Team Lasson is here to help you navigate the mortgage process, so read on to learn why it is best to work with a local lender!

1. They Know Their Clients by Asking Questions

In order to give an accurate mortgage quote, a mortgage lender will first need to collect information from you. A good lender should be expected to ask questions about your credit rating, property type, how long you expect to own the home and uses for the home, among other questions. A local lender can use this information to offer multiple mortgage options that are right for your needs, and explain what each loan option means for you.

 

2. They Know the Community

Lake of the Ozarks is a wonderful community filled with exceptional people, businesses, and schools. By hiring a local mortgage lender, you are not just fueling the local economy, but you are investing in an expert who can help guide you towards the best financial option for your unique situation.

 

3. They Are Invested in You

When working with a local lender they will know more about the area and local real estate market than an out-of-town lender. A local lender will appear more attractive to certain home sellers and real estate agents because of the importance of a timely closing and a smooth process. Having a local, trusted mortgage lender could be the difference between landing a house or not.

 

4. They Have the Reputation

Local lenders have an incentive to provide you with excellent service because they want you to be a source of referrals for future business. These people live and work in the local area, and it is their reputation they want to uphold.

Photo Credit: Fun Lake

Whether you are purchasing a vacation home at Lake of the Ozarks, planning to move to the lake area full time, or refinancing a home, Team Lasson is ready to help with your mortgage needs. We have been helping home buyers for over 20 years, and we are proud to be a part of the lake community. When it comes to your Lake of the Ozarks home financing needs, we are here for you every step of the way, to answer any questions that you may have. We will discuss financing options, offer competitive interest rates and back it up with the first class service you deserve. Call your local lender, Michael Lasson, at 573-746-7211 for all of your home loan needs!

 

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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.

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.

Spruce Up Your Vacation Home For the Summer

Owning a second home at the Lake of the Ozarks is a great accomplishment and one that you should feel a great sense of pride in. You have a prime place to vacation, unwind, and plenty of activities to enjoy right in your backyard. Get the most out of your lake home experience by enhancing your vacation home at the Lake of the Ozarks. Team Lasson is here to provide you with a few inexpensive home renovation ideas to help you spruce up your lake home for the busy summer months.

Create An Outdoor Living Space

As summer is just around the corner, we will look for any reason to be outside. Every lake home should have an outdoor area that is comfortable, stylish, and functional for enjoying the lake life. After all, you'll be spending plenty of time out on the water, and it can really enhance the appeal of your lakefront home. Pouring a small concrete patio, setting up a small pavilion, or using natural landscaping, benches, and stone pathways can add a great deal of eye appeal to your property. If you'd rather not DIY a project like this, you can always count on the contractors at the lake to come up with a collaborative design and complete the work for you. By doing this, you will be able to create your dream outdoor space!

Indoor & Outdoor Lighting

Replacing your old lighting fixtures can really enhance the entire home - inside and out! Adding solar lights to line a pathway leading to the water or other appealing areas around your property can do wonders. Plus, it creates a gorgeous view from the water as well. At the Lake of the Ozarks, you can make the most of your waterfront views by keeping the windows and sliding doors free of draperies. Consider highlighting your natural landscape, gardens, and shrubs to create an alluring atmosphere for your home.

Update the Kitchen

Summertime comes with bright colors, and fresh scents. As we tend to be outdoors during the summer months, it can be hard to make your kitchen a place that has a summertime feel. You do not have to do a complete overhaul of your kitchen to maximize its appeal in your lake home. Adding small DIY's such as updated cabinet fixtures, paint, and small home décor items can go a long way in revitalizing your kitchen area.

 

Add A Fresh Coat of Paint

Painting may not seem like it can make much of a difference, but adding on a fresh coat of paint or new color to a room can breathe new life into any space. Fresh paint is always a great and typically more inexpensive way to freshen up an area. It can be used to complement or contrast other features of your home to create one-of-a-kind spaces that are unique to your taste.

These typically inexpensive upgrades can be a great way to update your vacation home at Lake of the Ozarks. Team Lasson enjoys living the lake life and is proud to be able to share the experience with other homeowners. If you need additional cash for any home renovations, talk to us about refinancing your home at Lake of the Ozarks. If you are still in need of a lake home, we can help you purchase a vacation home at Lake of the Ozarks as well!

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.

Top 10 Questions to Ask Your Mortgage Lender

Buying a home can be a stressful experience for anyone. Having a prepared list of mortgage questions is a great way to begin finding the best home loan at the Lake of the Ozarks from your lender. Here are 10 essential questions to ask your mortgage lender at the Lake of the Ozarks before you sign on your home loan so that you can relax knowing you will be prepared for the road ahead.

1. How much can I borrow to buy a home?

When determining how much you can borrow, lenders may consider your income level compared with debt, your employment status, and your credit history. It is beneficial to talk to a mortgage lender about getting prequalified for a mortgage before you start shopping for your new home.

2. What types of mortgage loans do you offer?

There are two major categories of mortgage loans. Conventional loans and Government loans (i.e., FHA, VA, Rural Development, etc.) There are different requirements for each type of loan pertaining to down payment, credit score, credit history and debt ratio. It is important to ask your lender which type of loans they offer.

 

3. Do you offer mortgage points?

Mortgage points are sometimes called “discount points” and they are an optional fee you pay at closing to “buy down” a lower interest rate and save on the overall cost of the mortgage loan. Be sure to ask your lender when it makes sense to buy mortgage points, how much each point will lower your interest rate, and what the maximum number of points you can buy is.

 

4. How much money do I need to put down?

Your down payment can affect your interest rate, terms, and monthly payments. Finding out what is required for your loan will help you decide what is best for you.

 

5. What is my interest rate?

You may have already thought about this question, but you will get an idea of an interest rate that you can qualify for when talking to your lender. Your interest rate is determined by multiple factors, including your credit score, the location of your home purchase, the size of your down payment, and your loan type. You will also want to ask about the APR for the loan. The APR includes both the interest rate and the fees that the lender charges to originate the loan.

6. Do I need an escrow account?

An escrow account is a type of neutral savings account that holds onto money for prepaid property taxes and insurance premiums. Escrow accounts are usually established during closing and are often required for government-backed loans and optional for conventional loans. Ask your lender if you need an escrow account and what options are available to pay for shortages and whether you can get a refund If you overpay.

 

7. When can I lock in the interest rate?

Once you have considered a lender, you will eventually want to lock in your interest rate. Doing this will ensure that you are protected should the interest rates start to rise. Ask your lender when you can lock a particular rate and for how long. Keep in mind that lenders will usually offer lower interest rates for shorter-term locks and higher interest-rates for longer term locks.

 

8. What will the closing costs be?

Closing costs are fees that you will pay your lender and other third-party vendors to set up, process, underwrite and close your loan. Often times, typical closing costs will include appraisal fees, attorney fees, and title insurance.

 

9. Are there any prepayment penalties?

A mortgage prepayment penalty is a fee that some lenders charge when you pay all or part of your loan off early. Lenders might charge these fees to discourage borrowers from making extra payments on their loans, refinancing their loans at a lower rate, or selling their home before the loan is due.

 

10. Are you going to do a hard credit check on me today?

It is always a good idea to know when the lender is going to do a “hard” credit check, which is called a hard inquiry. By doing this, your payment history inquiry will show up on your credit report. Lenders need to do this before they can give you a firm interest rate quote.

Asking your lender a handful of questions ahead of time can help make the purchasing process smoother and less stressful for you. Make sure you are prepared with plenty of questions about income requirements, the types of loans you qualify for, and how much you have to save for a down payment and closing costs. Give Team Lasson a call today to discuss your mortgage loan!

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.

Merry Christmas from the Lake of the Ozarks

The Lake area always has a calendar filled with fun events and exciting adventures. From events for families with young children to sophisticated soirees that couples will enjoy, there’s a little bit of everything. As Christmas gets closer, you’ll find that the events at the Lake are gearing up with all things Merry and Bright. Below are some of the excellent events happening around the area - you won’t want to miss it!

Photo Credit: FunLake.com, Enchanted Village of Lights in Laurie

Christmas Lights at the Lake of the Ozarks

Enchanted Village of Lights
Nov 16, 2018 - Jan 01, 2019, from 5:00 pm to 9:00 pm (10:00 pm on weekends)
Laurie Fairgrounds
269 Fairgrounds Drive
Laurie MO 65037

Versailles Unity Circle Of Lights
Nov 21, 2018 - Jan 01, 2019, from dark until midnight
Versailles City Park
Hwy 5 and Hwy 52
Versailles Missouri 65084

St. Patrick's Festival of Lights
Nov 22, 2018 - Jan 02, 2019, from 5:00 pm to 10:00 pm
Shrine of St. Patrick | Mothers Shrine
176 Marian Drive
Laurie Missouri 65038

Deck the Docks Holiday Light Cruises
Nov 23, 2018 - Dec 29, 2018, from 5:30 pm to 8:30 pm
Celebration Cruises Grand Glaize
5085 Davis Drive
Osage Beach Missouri 65065

Osage Beach Holiday Lights in the Park
Nov 24, 2018 - Dec 31, 2018, Wed thru Sun, 5:00 pm to 9:00 pm
Osage Beach City Park
950 Hatchery Road
Osage Beach Missouri 65065

Windermere Christmas Light 5K
Dec 08, 2018, at 5:30 pm
Windermere Baptist Conference Center
1650 Koehler Drive
Roach MO 65787

Christmas Entertainment at the Lake of the Ozarks

Christmas on Main Street
Nov 23, 2018 - Dec 22, 2018
Main Street Music Hall
5845 Osage Beach Parkway
Osage Beach Missouri 65065

SBLT Youth Production Holiday Play
Dec 07, 2018 - Dec 08, 2018, at 7:00 pm
Sunrise Beach Community Center
15133 N. Hwy 5
Sunrise Beach Missouri 65079

Carols in the Cavern
Stark Caverns
125 Cave Dr.
Eldon Missouri 65026

• 9th St Christian Church Choir, Dec 09, 2018 from 6:00 pm to 7:00 pm
• Eldon Girl Scouts, Dec 14, 2018, at 7:00 pm
• School of the Osage, Dec 19, 2018, at 7:00 pm
• Jake Wesley Rogers, Dec 22, 2018, at 7:00 PM
• Michael Walton, 9th Street Christian Church Worship Minister, Dec 23, 2018, at 6:00 pm

'That's Christmas To Me' - Greater Lake Area Chorale
Dec 09, 2018, at 2:00 pm
Our Savior’s Lutheran Church
442 US-54
Camdenton Missouri 65020

Lake Area Community Orchestra

Royal Theatre
107 S Monroe St.
Versailles MO 65084
Dec 09, 2018, at 7:00 PM 

Lake Ozark Christian Church
1560 Bagnell Dam Blvd
Lake Ozark MO 65049
Dec 11, 2018, at 7:00 pm

"The Nutcracker" Play
Dec 14, 2018 - Dec 16, 2018, evening & afternoon times available
Royal Theatre
107 S. Monroe St.
Versailles Missouri 65084

Christmas with The Nelsons
Dec 14, 2018, at 6:00 pm
The Lodge at Port Arrowhead Convention Center
3080 Bagnell Dam Blvd
Lake Ozark MO 65049

Children's Christmas Play - “We Wish You a Merry Spendmas!“
Dec 15, 2018, at 2:00 pm
Camden County Museum
204 South Locust
Linn Creek Missouri 65052

Christmas Parades at the Lake of the Ozarks

Lake Ozark Christmas Parade
Dec 08, 2018, from 3:00 pm to 5:00 pm
Bagnell Dam Strip
Bagnell Dam Blvd.
Lake Ozark Missouri 65049

Eldon's Lighted Christmas Parade
Dec 08, 2018, at 5:00 PM
Rock Island Park
Downtown Eldon
Eldon Missouri 65026

Christmas Shopping at the Lake of the Ozarks

Versailles Christmas on the Square
Dec 08, 2018, from 1:00 pm to 5:00 pm
Downtown Versailles
100 E Newton Street
Versailles Missouri 65084

Old Tyme Christmas in Linn Creek
Dec 15, 2018, from 10:00 am to 3:00 pm
Camden County Museum
206 South Locust
Linn Creek Missouri 65052

Christmas Dining at the Lake of the Ozarks

Breakfast with Santa
Dec 08, 2018, from 8:00 am - 11:00 am
HK's at the Lodge of Four Seasons
315 Four Seasons Drive
Lake Ozark Missouri 65049

Breakfast with Santa at OYC
Dec 15, 2018, from 8:00 am to 12:00 pm
500 Yacht Club Landing Dr.
Lake Ozark MO 65049

Christmas Dinner at The Lodge of Four Seasons
Dec 23, 2018 - Dec 25, 2018
HK's Restaurant in The Lodge of Four Seasons
315 Four Seasons Drive
Lake Ozark Missouri 65049

Christmas Day Buffet at Tan-Tar-A
Dec 25, 2018, from 11:00 am to 4:00 pm
Tan-Tar-A Resort | JB's Boathouse
494 Tan Tar A Drive
Osage Beach Missouri 65065

Other Christmas Events at the Lake of the Ozarks

Christmas Village at Old Kinderhook

Nov 22, 2018 - Dec 23, 2018
The Ice at Old Kinderhook
678 Old Kinderhook Dr.
Camdenton Missouri 65020

Christmas for Kids
Dec 15, 2018, at 5:30 pm
The Lodge of Four Seasons; Granada Room
315 Four Seasons Drive
Lake Ozark Missouri 65049

Events at the Lake of the Ozarks

As you can see, this month is filled with Silent Nights and Decking the Halls. If you’re looking for some new traditions to add to your family, we would welcome you to come and see what’s happening at the Lake of the Ozarks. If you’re vacationing at the Lake of the Ozarks and find that you love this area as much as we do, maybe it’s time to buy a home here! Team Lasson provides great options for mortgages at the Lake of the Ozarks and we would love to assist you in buying a home at the Lake of the Ozarks. Merry Christmas from our family to yours!

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.