Container Gardens for Garden Month

April is Garden Month, and now is a great time to try out your green thumb and grow a few things. While there are many homeowners at the Lake of the Ozarks who own primary residences, there are also a large number of homeowners who own vacation homes at the Lake of the Ozarks. It may be hard to try your hand at a garden if you only come back on the weekends, so we have a few fun suggestions for trying out container gardens, as well as some long lasting plants that will make it between your visits.

Basil
This flavorful herb is easily grown indoors or out, and on the plus side, you can use it to cook with! These plants need direct sunlight at some point throughout the day, so if you decide to keep it indoors, you will want to place it by a window. You may also want to keep them outdoors when you are away from your vacation home at the Lake of the Ozarks so that it can get water and sun while you are not there to take care of it.

Aloe
This could be an excellent plant to keep on hand at a lake home! The large leaves can provide soothing gel for cuts and burns, plus it is a very forgiving houseplant. Allow the plant’s soil to dry completely in between waterings. This could vary depending on the humidity in your home, but it could mean watering it as little as every two to three weeks!

Snake Plant
This is also known as a ribbon plant and is a succulent with thick, waxy leaves. It loves to live in a pot, and thrives on being ignored - making this the perfect plant for your vacation home! It can add beautiful splashes of green without requiring a lot of care.

Bromeliads
This bright foliage loves plenty of bright light, so place near a big lakefront window where the afternoon sun will shine on it. With enough light, it will produce pretty flowers.

Jade
Jade is a low-maintenance succulent houseplant.

Pothos
This plant is a member of the philodendron family and is a fast-growing plant. It has striking and variegated leaves and is quite low maintenance.

Rabbit’s Ear
This is a moderately fast-growing plant and has hairy leaves that help prevent against water loss due to evaporation.

Rubber Plant
There is a reason you find these to be common houseplants.

Dieffenbachia
This is also known as Dumb Cane, and it has dramatic large leaves in many variegated forms which makes this a beautiful indoor plant. You can prune it to keep it from getting “leggy” but it is relatively maintenance free other than that!

Philodendron
This beautiful plant has heart-shaped leaves and is a fast-growing houseplant. The deep green leaves will look beautiful in your home, and better yet, they do not require a lot of maintenance!

Spider Plant
The spider plant is an extremely easy plant to grow. It also produces smaller plantlets that can be rooted in potting soil and start a whole new plant!

Cactus
This should come as no surprise, many cacti and succulents thrive in warm, sunny environments, and do not require high maintenance when it comes to watering.

Air Plants (Tillandsia)
Air plants are epiphytes, which means that they can grow without soil. This makes Tillandsia one of the easiest indoor plants to grow. Just mist your plants once a week or so to keep them nice and healthy.

Making Your Vacation Home at the Lake of the Ozarks Cozy

Houseplants can be a warm and cozy way to make your vacation home feel like home, and Gardening Month is the perfect time to try your hand at it! The trick is to find plants that are easy going and do not require a lot of maintenance. If you do not have a vacation home at the Lake of the Ozarks, there is still time to start the process. Team Lasson is here to help, and we believe that this is an amazing time to buy a home at the Lake of the Ozarks. Visit our website to learn more about our mortgage company at the Lake of the Ozarks, as well as submit your financing application!

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

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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.

The Income-Assets-Credit Triangle

To obtain a mortgage at the Lake of the Ozarks, you'll need to satisfy requirements in three financial aspects: income, assets and credit. These components make up what is known as the "Mortgage Approval Triangle." While each type of loan program has different requirements, when these three factors are balanced, a mortgage approval is likely. Keep reading to learn more about each of these categories and how to balance the triangle.

The "BIG 3" of Lending

When it comes to mortgage lending on purchase transactions, the "BIG 3" is usually income, assets and credit. For the income portion, your Lake of the Ozarks mortgage lender will take a look at your debt-to-income (DTI) ratio. This is your monthly taxable income versus your monthly household debt. For the assets portion, your checking, savings, investment and retirement accounts will be reviewed for down payment funds and reserves. For the credit portion, your lender will pull your credit report and take a look at your credit score, along with other information contained in the report. Depending on the type of loan you are applying for, you'll have minimum requirements to meet in each of these categories. Your lender will be able to help you find the loan product that fits best with your financing needs.

Compensating Factors

Ideally, every mortgage applicant would have a strong income, large amount of assets and great credit. In all reality, this is usually NOT the case. Don't worry! If you have poor credit or limited assets, you're not necessarily going to be denied for a loan. This is where compensating factors come into play. Compensating factors are strengths in a person's mortgage application that will compensate for a weakness. As an example, if a borrower has low income, but also has amazing credit and ample assets,there's a chance that person may still be approved. Everyone's situation is different, and that's why it's so important that you work with a qualified mortgage professional at the Lake of the Ozarks to discuss your personal situation.

To learn more about or to get started with the mortgage loan approval process, call 573-746-7211. Whether you're in the market for your first home, looking to upgrade or maybe refinance your current home, I'm committed to helping you make that happen! When it comes to your Lake of the Ozarks home financing needs, I'll discuss your options, offer competitive interest rates and back it up with the personal and professional service you deserve.

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 Mortgage Approval Triangle

When it comes to getting a mortgage, there's not really a "trick" to getting approved. It's really as simple as having all your ducks in row. In order to get approved for a mortgage at the Lake of the Ozarks, you'll have to satisfy the Income-Equity-Credit triangle. Keep reading to learn more about this triangle and how it impacts your mortgage approval.

The Triangle

No matter what type of loan you're applying for, whether its USDA, FHA or whatever, you'll need to disclose your income, equity and credit. There are the big three key factors of mortgage lending. Those applying for a mortgage will have to meet some minimum qualifications in each of these categories. When all three of these factors meet the requirements, and the triangle becomes balanced, you're likely to get approved.  

Income: When looking at income, a lender compares your monthly taxable income to your monthly household debts. This is to ensure you make enough money to cover the monthly payments you would be incurring with the mortgage loan.

Equity: When looking at equity, a lender takes into consideration the amount of equity you have in your current home. If you don't have any equity yet, don't worry. Below we discuss compensating factors that will make up for not having a big equity.
 
Credit: One of the most important factors that a Lake of the Ozarks mortgage lender will look at is your credit. This is determined based on the scores and information provided by the three major reporting agencies: Experian, Equifax and TransUnion.

Compensating Factors 

Ideally, a prospective buyer would have a strong income, big equity and great credit. However, in reality, most applicants will not. Compensating factors are strengths in a person's mortgage application that will compensate, or "make up for" the weaknesses. Maybe an applicant has a great credit score, but their income is a little on the low side. This doesn't mean they can't get approved for a mortgage. Everyone's situation is different and therefore, its important you talk to a qualified mortgage lender at the Lake of the Ozarks to discuss your personal situation and needs.

To learn more about the mortgage approval process, give us a call at 573-746-7211. Whether you're looking for a new home or wanting to refinance your current home, I'm committed to working with you every step of the way! When it comes to 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.

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.