Friday, January 18, 2019

Am I Ready to Buy a Home?

Are you tired of renting and just ready for something more permanent? We understand. It is quite the feeling to have a home to really call your own, but are you ready? Buying your first home is a BIG step and not only do you need to be ready financially but it's a HUGE commitment. First Bank of the Lake is here to give you a few things to consider before buying your first home. If you find that you are ready to purchase your first home and need a mortgage at the Lake of the Ozarks, call our bank in Osage Beach at (573) 348-2265. When you work with a local bank like First Bank of the Lake, loan approvals and other key decisions are made locally by people who live in your community and who may even know you already.



Do you make enough money?

A good rule of thumb is if the total monthly cost of the home, including but not limited to:

  • HOA fees
  • Homeowners Insurance
  • Mortgage Interest and Principal
  • Taxes
...is over 32% of your income, then you should discuss this with a mortgage lender to determine the viability of buying the home.

Are you prepared to put down a down payment?

The more you can put down the better off you are, it can help you to get a better rate. The best thing to do would be to sit down with a mortgage loan officer at the Lake of the Ozarks, explain how much you have to put down, and see what is possible mortgage wise.

How is your credit?

If you have little to no credit, you may take some more time to build up your credit before trying to buy a home. Get a credit card and start to use it responsibly to build up credit if you have none. If you have credit and it is just bad credit, start to work out a payment plan for your current debt (if that's the case) before you plunge yourself into more debt by buying a home.


Are you ready to stay in one place?

Mortgages are typically for 30 years, buying a home can be a major time commitment and we would only suggest buying a home if you plan to live there for quite some time. That being said, you can always sell your home and move, but that can take a lot of work and if you are planning on moving somewhere in a couple years, you may just be better offer continuing to rent until you move.


See If You Are Ready to Buy a Home with First Bank of the Lake!


There are great advantages when you choose to bank locally and get your mortgage at a bank in your own community. Loan decisions are then made by your neighbors or people that you see in the grocery store in the week, it can make a difference. See what we mean and stop in for a visit at First Bank of the Lake.


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First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.


Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065


(573) 348-2265

Friday, January 11, 2019

February Events at the Lake of the Ozarks

We really love being a bank at the Lake of the Ozarks community. This is such a great place where local businesses come together and help each other. First Bank of the Lake would like to take this opportunity to feature a few of the February events happening at the Lake of the Ozarks that will be hosted by local businesses. To learn more about our community bank in Osage Beach, visit www.FirstBankLake.com.


February Events at the Lake of the Ozarks


Source: https://www.funlake.com

Event: Free Wedding Vow Renewal at Bridal Cave
When: Feb 10, 2019
Where: Bridal Cave
526 Bridal Cave Road
Camdenton Missouri 65020
Phone: 573-346-2676
Email: info@bridalcave.com
Website: http://www.bridalcave.com
Facebook: https://www.facebook.com/bridal.cave.3
Hours of Operation: 9:00 am to 4:00 pm
Pricing: FREE

Event Details: Bridal Cave cordially invites you to celebrate Valentine’s Day.

  • Renew your wedding vows on Sunday, February 10th from 9am to 4pm 
  • Each couple will receive fresh flowers for the Bride from Janine’s Flowers, Lindsey Webster Photography will take a wedding portrait available for download online, a Goodie Bag with lake area discounts and a Lifetime Pass to Bridal Cave at NO CHARGE!


Event: Mardi-Gras Pub Crawl
When: Feb 16, 2019
Where; Osage Beach Parkway
Osage Beach Missouri 65049
Phone: 573-348-1599
Website: http://lakepubcrawl.com

Event Details:

  • Leave your keys and take the bus!!! 
  • 32 total buses run from 4:00pm til 2:30am and will get you to and from your location with no need to drive. 
  • A sober chauffeur will be provided and all you have to do is kick back, leave your keys in the drawer, jump on a bus and have fun. 
  • Hotel shuttles are provided to get your crawl started and route buses stop at every location on the CRAWL!!!

Event: Home, Business & Lake Living EXPO
When: Feb 22, 2019 - Feb 23, 2019
Where: Lodge of Four Seasons - Campana Hall
315 Four Seasons Dr.
Lake Ozark MO 65049
Phone: 1-800-769-1004
Email: info@camdentonchamber.com
Website: http://camdentonchamber.com/home-business-lake-living-expo/
Hours of Operation: Fri: 3 pm to 7 pm; Sat: 9 am to 5 pm

Event Details: The show will feature a wide range of products and services including:

  • Consumer goods 
  • Health and wellness 
  • Building contractors and suppliers
  • Plumbing and electrical supplies
  • Home improvement and remodeling

...and much more.


We hope you enjoyed learning more about these events and that you are able to attend some of them and support your community. When you bank local, you put your money to work growing the local economy. We share a common commitment to our community with our customers. To bank with Lake of the Ozarks bank that has over 30 years experience, call First Bank of the Lake at 573-348-2265.

Want More Awesome Finance Tips? Sign Up For Our Newsletter!


First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.


Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065


(573) 348-2265

Friday, January 4, 2019

Get to Know Our Team - Gwen Sullens

We here at First Bank of the Lake, your Community Bank at the Lake of the Ozarks are very excited about 2019! We are also excited to be able to continue our monthly blog series, Get to Know Our Team. This month we will be introducing you to our very own Gwen Sullens. We have the pleasure of getting to know so many great people/customers each and every day, we feel it is only fair that you get to know us too. We've asked each of our staff members a few questions in order to get to know them better. Keep reading for the answers we got from our own Gwen Sullens.


Get to Know Our Team - Gwen Sullens


1. How did you get started in the banking industry? 

Started in 1987 as a teller.

2. What is your position at the bank? What are some of your key responsibilities? 

V.P. Loan Officer, In house ARM, Secondary, Construction, Lot, personal commercial loans

3. What brought you to the Lake of the Ozarks? 

I was born in the area, then moved away as a child. I returned to the area in 1982.

4. What do you enjoy the most about your job? 

Being in small town banking and knowing your customers and helping with their needs

5. How do you enjoy spending your time when not at work? 

  • Vacationing with my family and friends
  • Outside activity in the summer
  • And getting on our motorcycle to ride with my husband


6. When you were young, what did you want to be when you grew up? 

No specific one career and I would change my mind often

7. What is your dream vacation destination? Why? 

Anywhere that is warm and spend with friends

8. If you won the lottery, what would you do?

If I won big, I'd pay off items, pay off certain family mortgages, donate to church and charities, and invest for life and our children.


Happy New Year from First Bank of the Lake!


We hope everyone had a great time celebrating the New Year and we also hope you enjoyed reading this blog and getting to know Gwen Sullens a little better. We appreciate everything she does for us and she is a very valuable member of this banking team. Stay tuned next month for when we continue our Get to Know Our Team blog series with another fantastic staff member. If you haven't already, be sure to follow us on all of our social media platforms listed below to stay up to date on our latest banking products. At First Bank of the Lake, we don't try to sell you a loan or service you don't need. We make all of our decisions right here at home - we use judgment and compassion when evaluating customer requests.


Want More Awesome Finance Tips? Sign Up For Our Newsletter!


First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.


Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065


(573) 348-2265