Lake of the Ozarks Mortgage Lender

Occupancy key: Primary, second home, or investment Primary residence only Investment only

• DSCR

  Investment only

  Qualifies on the property's rental income instead of your personal income. No tax returns, no W-2s, no debt-to-income calculation.

  At the Lake: the go-to for short-term rentals. Underwriting annualizes the income, so those dead January weeks pull the average down. Run it on twelve months before you get attached to a summer revenue statement.

  Business-purpose loan. LLC vesting is standard. Credit, reserves, and the property still get reviewed.

• Conventional

  Primary, second, investment

  The workhorse. Conforming loans that Fannie Mae or Freddie Mac will buy, with terms that scale to how you'll occupy the property.

  At the Lake: this is what most second-home purchases run on, since it's one of the few programs that allows a vacation property at all. Second-home down payments typically start higher than primary.

  2026 one-unit limit in Camden, Morgan, Miller, and Benton counties: $832,750. Above that, it's a jumbo.

• USDA

  Primary residence only

  Zero down payment, backed by the Department of Agriculture, for properties inside designated rural boundaries. Household income limits apply.

  At the Lake: much of the area sits inside eligible rural boundaries, which makes this genuinely useful for people moving here full time. It will not work for a weekend place.

  Eligibility is drawn address by address, not by town. Check the exact property on the USDA map before you plan around it.

• VA

  Primary residence only

  Zero down payment and no monthly mortgage insurance for eligible veterans, active duty, and surviving spouses. A funding fee applies, with exemptions.

  At the Lake: works beautifully if you're retiring here or relocating full time. It does not work for a vacation property, because VA carries an occupancy requirement.

  Entitlement can often be restored or reused. If you've used VA before, ask before you assume it's spent.

• Jumbo

  Primary, second, investment

  Any loan above the conforming limit. Not a government program, so guidelines are set by the individual investor rather than by Fannie or Freddie.

  At the Lake: this is the big-water and point-lot financing. Expect heavier documentation and a real reserves requirement, and expect the appraisal to matter more than usual.

  Starts above $832,750 in the four Lake counties. Guidelines vary widely by investor, which is where a broker board helps.

• One-Time Close Construction

  Primary, second, investment

  Lot, construction, and permanent financing wrapped into a single closing. One application, one appraisal, one set of closing costs.

  At the Lake: the answer when you've found the lot but not the house. Common on cove lots where nothing on the market matches what you actually want.

  The alternative is two separate closings. One-time close avoids requalifying when the build finishes.

• FHA

  Primary residence only

  Government-insured, built for lower down payments and more flexible credit. Mortgage insurance is required and factors into the payment.

  At the Lake: good for full-time buyers, but know that FHA appraisers are strict on condition. Docks, seawalls, and deferred maintenance on older lake properties get flagged.

  2026 one-unit limit in Camden, Morgan, Miller, and Benton counties: $541,287.

• HELOC

  Primary, second, investment

  A revolving line secured by equity you already have, sitting behind your existing mortgage. Draw what you need, when you need it.

  At the Lake: the quiet strategy. Pull equity from your primary residence, buy the Lake place with cash to compete against cash offers, then finance it properly afterward.

  Rates are typically variable and the payment moves. Know the draw and repayment periods before you sign.

About these figures: the 2026 conforming limit of $832,750 and the 2026 FHA limit of $541,287 are one-unit limits for Camden, Morgan, Miller, and Benton counties, effective January 1, 2026, per the FHFA and HUD. Both are reset each January. Program descriptions are general summaries, not underwriting guidelines. Down payment minimums, credit requirements, income limits, occupancy rules, and program availability vary by lender and by borrower, and are determined only after a complete application and full underwriting review. Nothing here is a rate quote, a loan approval, or a commitment to lend. Verify USDA property eligibility for a specific address at eligibility.sc.egov.usda.gov.