Monday, November 20, 2017

Celebrating Thanksgiving at the Lake of the Ozarks

Can you believe it’s already the middle of November? Thanksgiving is almost here and there’s no better place to spend it than the beautiful Lake of the Ozarks! Your Lake of the Ozarks mortgage lender has all the details on where to eat and what to do this Thanksgiving holiday at the Lake.

Places to Eat on Thanksgiving


Many local restaurants will be serving up a delicious Thanksgiving feast on Thursday, November 23rd. If you don’t feel like cooking or cleaning this year, head over to one of these places:

1. J. Bruner’s Restaurant
Enjoy a Thanksgiving dinner featuring a traditional turkey dinner or their famous steak and seafood menu. The restaurant opens at 3 pm and reservations are recommended.

2. Tan-Tar-A Resort
Enjoy a traditional Thanksgiving buffet with all the trimmings, without stepping foot in the kitchen! The buffet will run from 11 am to 5 pm and reservations are required.

3. The Trophy Room at Old Kinderhook
Enjoy a delicious Thanksgiving Dinner at Old Kinderhook. The restaurant will be open from 11 am to 4 pm and reservations are required.

4. HK’s Restaurant & Bar at The Lodge of Four Seasons
The Lodge of Four Seasons will hold their annual Thanksgiving Brunch in the HK’s dining room on November 23rd from 11 am to 2 pm. Call for reservations.

5. J D Waddles Restaurant at Inn at Grand Glaize
Join family, friends and new acquaintances at the Inn at Grand Glaize for a traditional Thanksgiving feast from 11 am to 3 pm. Reservations are recommended.

6. H. Toad’s Bar & Grill at Camden on the Lake
Enjoy a featured 3-course Thanksgiving menu where guests can choose from the delectable starters, entrees and desserts for just $35. The restaurant will be open from 11 am to 5 pm and reservations are suggested.

Things to Do Thanksgiving Weekend


Thanksgiving weekend is the kick-off to the holiday season, and there’s no shortage of fun-filled holiday events happening at the Lake of the Ozarks!

1. Drive-Thru Holiday Light Parks
Beautiful light displays will be set up across the Lake area starting Thanksgiving weekend. While donations are gladly accepted, these holiday light parks are free to attend. Be sure to check these out:
  • ·        Enchanted Village of Lights at the Laurie Fairgrounds – Open Nightly from 5-9 pm (10 pm on the weekends)
  • ·        St. Patrick’s Festival of Lights at Shrine of St. Patrick / Mother’s Shrine – Open Nightly from 6-10 pm
  • ·        Versailles Unity Circle of Lights at Versailles City Park – Open Nightly starting November 25 from Dusk until Midnight
  • ·        Osage Beach Holiday Lights at Osage Beach City Park – Open Nightly starting November 25

2. Christmas Village at Old Kinderhook
Every weekend (Fri-Sun) from Thanksgiving through Christmas Eve, the Christmas Village at Old Kinderhook will offer horse drawn carriage rides, gingerbread house decorating, tree lighting and tree trimming gatherings, Santa & Mrs. Clause, Elf storytelling, S’mores around the fire pit, spa features, fun games for the family, great food and great company, and ice skating with a special guest!

3. Deck the Docks Holiday Light Cruises
Come out and enjoy the Christmas lights on the lake for the 7th Annual Deck the Docks to benefit Dogwood Animal Shelter. There will be complimentary appetizers donated by local restaurants, as well as live entertainment donated by local entertainers. Learn more at: www.cruiselakeoftheozarks.com.

4. Christmas on Main Street
The Main Street Music Hall is celebrating the spirit of the holidays with a Christmas on Main Street. Enjoy your favorite songs with a night of laughter, as Gabby Gumm and our talented cast give you that warm fuzzy feeling you used to get as a kid. It’s guaranteed entertainment for everyone, no matter your age. The show opens November 24th. Call for show times and tickets.

5. Annual Lighted Christmas Parade in Laurie
The Lake West Chamber of Commerce will present the 16th Annual Lighted Christmas Parade on Saturday, November 25th beginning at 6 pm. The parade will start at the Central Bank in Laurie and travel north on Hwy 5 to the Terrace Mall. This year’s theme is “The 12 Days of Christmas.”

If you enjoy spending time at the Lake, consider relocating or investing in a second home at the Lake of the Ozarks. Then you’ll be able to participate in all the fun events happening all year round! For information on Lake of the Ozarks home financing, contact Lakelender Michael Lasson at 573-746-7211. 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 


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.



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Location: Osage Beach, MO 65065, USA

Thursday, November 16, 2017

How Interest Rates are Determined on a Macroeconomic Level

When you purchase a home and take out a mortgage at the Lake of the Ozarks, you will be paying back that loan with interest. An interest rate is the cost of borrowing money, and it varies from situation to situation. While the specific interest rate you will be offered takes many factors of your personal life into consideration, outside influences affect what interest rates are available at a certain point in time. Prevailing interest rates are always changing, but why? Today’s blog takes a look at the bigger picture of how interest rates are determined on a macroeconomic level.

The Federal Reserve



The Federal Reserve is the Fed’s monetary policymaking body. While it is an instrument of the U.S. government, it is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government. It is charged with maintaining the stability of the nation’s financial system, by taking action to raise or lower short-term interest rates in an effort to keep things stable. The Federal Reserve sets the “Federal Funds Rate”, which is the rate that institutions charge each other for extremely short-term loans. This rate slowly trickles down into other short-term lending rates, such as mortgages. When the Fed Funds Rate increases, eventually, so do mortgage rates.

The Condition of the Economy


How well the economy is doing is a factor that the Federal Reserve looks at when determining whether to raise or lower the Federal Funds Rate. When the economy is doing well or growing, companies are profitable, unemployment is low and consumers are spending money, the Fed acts to raise short-term rates in an effort to slow the economy from growing too quickly and increasing inflation. Inversely, when the economy is contracting or slowing too much, the Fed acts to lower the Federal Funds Rate in an effort to speed up the economy by making it easier for consumers and businesses to borrow money. This keep people employed and keeps the economy from sinking into a recession.

Supply and Demand


Another economic factor that comes into play is the supply and demand of credit. The supply of credit is increased by an increase in the amount of money that’s made available to borrowers. For example, when a consumer opens a bank account, depending on the type of account, that bank can use that money to lend out to other customers. An increase in supply of credit can reduce interest rates, while a decrease can raise them. Conversely, an increase in the demand for credit can raise interest rates, while a decrease in demand can lower them.

As a borrower, it’s important for you to understand these changes. Your Lake of the Ozarks mortgage lender doesn’t personally determine the rates available to you. Your rate is determined by an array of factors, economic and personal. To learn more about what interest rates are available to you at this time, talk to a mortgage professional. Give Lakelender Michael Lasson a call at 573-746-7211 today! 

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


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.



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Location: Osage Beach, MO 65065, USA

Friday, November 10, 2017

Understanding the Mortgage Payment Process

When you purchase a home, unless you're one of the lucky few that can afford to pay cash, you're going to need to take out a home loan. Your mortgage lender at the Lake of the Ozarks will discuss your options with you, offer competitive interest rates and eventually settle on a monthly mortgage payment. While many people pay their mortgage every month, not everyone understands how that payment process works. Keep reading to learn about amortization and how paying off your mortgage works.

How Mortgage Loans Are Paid Back 


Mortgage loans are paid off through what is known as a "mortgage amortization process." Over the life of the loan, each payment is first applied to the interest accrued during the current payment period, and then to reducing the outstanding principle amount. With this payment schedule, after 30-years, you'd end up paying close to double your initial mortgaged amount. What looks and seems like a low rate could add up to hundreds of thousands of dollars over the course of thirty years. Therefore, if you're financially capable, you might consider paying off your mortgage faster. Talk to your trusted Lake of the Ozarks mortgage lender to see if there are any penalties for paying off your mortgage early.

Should I Pay Off My Mortgage Faster?


Who wouldn't want to pay off their mortgage faster? Living a debt-free lifestyle is something many Americans strive for. However, it's not always possible for everyone. The question shouldn't be, "do I want to pay off my mortgage faster," but rather, "can I pay off my mortgage faster?" Do you have the financial ability to set aside more money for a larger mortgage payment each month? Keep in mind that your mortgage likely has a lower interest rate than other debts such as credit cards. Determine what the best use of your money is before choosing to pay off your mortgage faster. Paying off your mortgage faster also has tax implications on your mortgage deduction. For advice on how to pay off your mortgage faster, check out our previous blog titled, "How to Pay Off Your Mortgage Faster."

If you don't currently have a mortgage you're working to pay off, but are considering purchasing a home at the Lake of the Ozarks, give me a call at 573-746-7211. Together, we will discuss your options, I'll offer competitive interest rates and back it up with the first class service you deserve. With my help, you'll be in your dream home at the Lake of the Ozarks in no time!

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


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.






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Location: Osage Beach, MO 65065, USA

Thursday, November 2, 2017

4 Steps to Take Before House Hunting Begins

Deciding to make a new home purchase is an exciting experience, so exciting that you can get swept up in scouring the internet for listings. It's important to take a step back and get all your ducks in a row before starting your search for the perfect home. In today's blog, your Lake of the Ozarks mortgage lender offers advice on the steps you should take before house hunting begins.

1. Review Your Financial Situation. 


Investing in a home is one of the largest purchases you'll make in your life. Before getting carried away looking at houses online, it's important to know where you stand financially. Are you financially capable of making a home purchase at this time in your life? How much can you afford in a new home? The best place to start is to find a mortgage professional at the Lake of the Ozarks. Together, you can go over your financials to determine your options. Doing this early will give you the opportunity to get into the best financial shape possible before starting the loan process.

2. Build a Strong Savings Account. 


If you haven't already started saving for a home purchase, start now! While there are programs now that offer lower down payment options, you're still going to need cash for a variety of things. From inspections and closing costs to future maintenance and repairs, it's important to have a healthy amount of money in savings. Find ways to cut spending and eliminate unnecessary costs or consider picking up a side job to increase the savings fund quickly.

3. Get Pre-Approved for a Loan. 


Once you are comfortable with your financial situation, it's time to get a Lake of the Ozarks mortgage pre-approval. While not necessarily required, a pre-approval will help you determine how much of a home you can afford. This helps you avoid falling in love with a home that's outside of your price range. Knowing what you can afford before you even start looking at homes will save you a lot of time and energy. In addition, a pre-approval shows buyers that you are serious about making a purchase, giving you leverage in negotiations.

4. Find a Good Realtor. 


While you could browse the internet all day long for new home listings in your area, working with a real estate agent has a lot of advantages. Not only will a good realtor with local market knowledge be able to help you narrow your search, he or she will also be valuable during negotiation. Having someone with expertise in the entire home buying process will save you a lot of frustration and help you get into your new home sooner.

If you're well prepared, by following the steps above, the home buying process will be much smoother. Talk to a lender today to learn about your home loan options at the Lake of the Ozarks. Call Lakelender Michael Lasson at 573-746-7211 to discuss your finances and start the process today!

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


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct: (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.





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Location: Osage Beach, MO 65065, USA

Thursday, October 26, 2017

Halloween Events at the Lake of the Ozarks

The month of October is quickly coming to an end, which means it's time for the scariest holiday of all. Will you be spending Halloween at the Lake this year? Your favorite mortgage lender at the Lake of the Ozarks has all the details on the upcoming Halloween events.

Hy-Vee Hollow Trick-or-Treat 

Date: Thursday, October 26
Time: 4-7 pm
Place: Hy-Vee Parking Lot
Details: Bring the kids for trick-or-treating at Hy-Vee. Admission is $2 per child, and all of the proceeds will benefit 2 local organizations: The Dream Factory and Camp Wonderland. Refreshments will be provided.

Zombie Wasteland Haunted House

Date: Thursday, Friday and Saturday, October 26-28
Time: Opens at 7 pm
Place: 474 S. Hwy 7 in Camdenton (Next to the Airport)
Details: Survive a zombie wasteland with lots of foam darts and a nerf gun of your choice. Tickets are $10 per person and proceeds benefit Kids Harbor Child Advocacy Center.


The Haunted Holler

Date: Friday & Saturday, October 27-28
Time: 8 pm to Midnight
Place: Trail located 1 mile behind Hy-Vee in Osage Beach
Details: The Haunted Holler is a quarter mile haunted trail in the woods. Admission is $10 per person on Friday and $15 per person on Saturday. Recommended for ages 6 and up, and children 12 and under must be accompanied by an adult.

Howl-O-Ween Festival 

Date: Saturday, October 28
Time: 10 am to 2 pm
Place: Dogwood Animal Shelter
Details: The 7th Annual Howl-O-Ween Festival is free to attend. There will be a pet costume contest and other fun competitions, a raffle, grilled lunches for purchase, local artists and crafters on site, a mini Dogwood Thrift Shop and more!

Halloween on the Bagnell Dam Strip 

Date: Saturday, October 28
Time: 8 am to 9 pm
Place: Bagnell Dam Strip
Details: Halloween on the strip will feature a 3K Haunted Fun Run, Pancake Breakfast Fundraiser, Trick-or-Treating on the Strip, Games of Skill, a Cookie Walk, Costume Contest, Pie Eating Contest, Teen Night with a scary movie and bonfire, all followed by adult fun with costume contest, bands and other entertainment.

Kid's Halloween Spooktacular at Captain Ron's

Date: Sunday, October 29
Time: 5-6:30 pm
Place: Captain Ron's
Details: Bring your little ghosts & goblins to Captain Ron's to grab some loot! Several local businesses will be handing out goodies.

SpookTacular Trick-or-Treat 

Date: Tuesday, October 31
Time: 6-9 pm
Place: Splatz Paintball
Details: A safe, family-friendly trick-or-treating experience with music, contest, fun and games!

Happy Halloween from Lakelender Michael Lasson! If you love spending time at the Lake, and want to be able to partake in fun holiday events all year round, consider purchasing a second home at the Lake of the Ozarks. As your Lake of the Ozarks mortgage lender, I'm here for all your home financing needs. I'll work with you every step of the way, to 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 


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct:  (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.



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Location: Osage Beach, MO 65065, USA

Friday, October 20, 2017

3 Common Reasons People Don't Qualify for a Mortgage

You have decided you're ready to take the next step in your life and purchase a home at the Lake of the Ozarks. The challenge now is going to be a qualifying for a mortgage loan. Your Lake of the Ozarks mortgage lender is here to make you aware of some of the common reasons people don't qualify for a mortgage. This can help you get all your ducks in a row and be prepared for the loan approval process.

1. Bad Credit or No Credit at All. 


Your credit is one of the most important factors that goes into determining if your mortgage application is approved or not. If you have bad credit or no credit at all, you could have a difficult time getting home financing at the Lake of the Ozarks. Before applying, be aware of your credit score. Take a look at your credit report and correct any errors. Make sure to pay your bills in full and on time to avoid hurting your credit. If you don't have any credit at all yet, work on building some good credit before attempting to apply for a home loan. This is why it's important to start planning early for a home purchase. It can often take some time to get your credit cleaned up.


2. Unsubstantiated Income. 


Unsubstantiated income is income that you can't prove or verify is actually what you say it is. When you apply for a mortgage, your lender is going to look at your current employment and income. This factors in to how much you are able to borrow and how likely you are to make your monthly payments. If you aren't able to provide documentation of a stable income, you might have a difficult time getting approved. (This is why you shouldn't change jobs during the mortgage process either.) This is a common issue for self-employed buyers because they don't have the proper paperwork. Necessary documents include profit and loss statements, as well as tax returns that are filed properly and timely.

3. No Money for a Down Payment. 


While there are programs now that require a no/low down payment, not having any money to put down makes you a bigger risk. Your mortgage lender at the Lake of the Ozarks wants to know that you have sufficient income and assets to make your monthly payment on time and in full. Your down payment is an investment, which shows you are "invested" in this transaction. While the traditional 20% down isn't necessary, you'll want to have 3-5% to put down, depending on the type of loan for which you apply. Another reason to start planning for your future home early, you need time to save for a down payment.

If you think you're ready to apply for a home loan at the Lake of the Ozarks, give me a call at 573-746-7211. I'm here to work with you every step of the way, from filling out your application to getting you through the closing. I'll discuss your options, offer competitive rates and back it up with the first-class service you deserve!

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


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct:  (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.



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Location: Osage Beach, MO 65065, USA

Thursday, October 12, 2017

7 Mortgage FAQs Answered

The mortgage process can be somewhat complicated. If you are a new, prospective homeowner, chances are you have a lot of unanswered questions about how it all works. Below are the answers to a few of the most common questions we hear in regard to mortgages at the Lake of the Ozarks.

1. Can I Buy a Home When My Credit is Less Than Desirable? 


Different loan products have different requirements in regard to credit score. Some loans allow a lower credit score than others. The down side is that the lower your credit score, the higher your interest rate is likely to be. However, if your credit score falls below 600, you could have a difficult time getting approved for a mortgage at all.

2. How Much Money Do I Need for a Down Payment? 


The amount of money you need for a down payment on a house also depends on the type of loan you choose. Traditionally, people would need to put down 20% of the total cost of the home. Today, there are loan programs that allow for as little as 3-5% down. Keep in mind that the more you can put down, the more equity you will have in your home from the get go.

3. What Documents Will I Need to Apply for a Mortgage?


When applying for a home loan at the Lake of the Ozarks, you'll need to provide a variety of documents that prove your identity and show your income, assets, and debts. This includes driver's license, prior year's W-2, current pay stub, past tax returns, financial statements showing assets and liabilities. Talk to your lender about additional documentation that may be unique to your situation.

4. What is Private Mortgage Insurance? 


Private Mortgage Insurance, or PMI, is a type of insurance that protects lenders against loss if a borrower defaults. This insurance is generally required for any loan that has less than a 20% down payment.

5. What is an Escrow Account and How Does It Work? 


An Escrow Account is a separate account that hold funds for the purpose of paying bills such as homeowner's insurance and property taxes. Along with your monthly mortgage payment, you will send a portion of money to be deposited into this account. Then when the bills become due, you have all the money there ready to go. It is a way to disperse these added costs of homeownership over 12 months.

6. What are Points? 


Points are fees that can be paid to the lender upfront in exchange for a discount. Most commonly the discount is in the form of a lower interest rate on your loan. One point is equal to one percent of the loan amount.

7. What is APR?


APR stands for Annual Percentage Rate, and is often confused with the interest rate on your loan. The interest rate is the cost of borrowing the principal loan amount. The APR however, is a broader measure of the cost of your mortgage because it takes into consideration not only the interest rate, but also other costs such as broker fees, discount points and some closing costs.

For all your other mortgage questions, give your Lake of the Ozarks mortgage lender a call at 573-746-7211. When you're ready to buy a home, I'll discuss your options, offer competitive interest rates and back it up with the first-class service you deserve. When it comes to your Lake of the Ozarks home financing needs, I'm here to help you every step of the way, from your initial questions to the closing ones.

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


Michael Lasson
Senior Loan Officer
NMLS #: 493712

4655 B Osage Beach Parkway
Osage Beach, MO 65065

Direct:  (573) 746-7211

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.






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Location: Osage Beach, MO 65065, USA
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