Home Purchase/Re-fi Loans

Mortgage Group_May 2013
Mark O. Lightsey Dana O. Eckhart
(979) 260-4149 (979) 260-5105
 MLO ID 642661 MLO ID 394255

Home Loan Application

The mortgage lending representatives at The Bank & Trust believe everyone deserves to own their home.  Often, purchasing a home is the biggest financial decision you will make and many factors affect that decision.  Whether you’re shopping for a new home, or if you want to refinance your existing home, we would like to help. We’re here to answer your questions and to find a mortgage lending product that will suit your individual and family needs.

Here are some questions you might consider discussing:

  • How much can I afford to pay for a monthly mortgage note?
  • How much can I qualify to borrow?
  • How much money will I need for a down-payment? For closing costs?
  • What is the best kind of mortgage loan for me?
  • What is the difference between the various types of mortgages?
  • Can I pay my home off faster by applying more money to the principal of my loan?
  • What paperwork and documentation will I need in order to get a mortgage loan?

These are a few of the questions that we would like to discuss with you. Our mortgage lending team has the time and experience to sit down and talk with you and to make your home-buying experience a pleasant one. We offer genuine care and personal service. Make an appointment today by calling (979) 260-2100.

Frequently Asked Questions (FAQ’s):

1) When buying a home, what expenses will I incur?

The purchase of a home is an investment in your future, and the fees associated with processing your home loan application are designed to protect your investment. These fees include charges for pest inspections, property appraisal, surveys, legal fees, recording fees and title insurance, as well as for closing costs and loan fees. The Bank & Trust mortgage lending officers will be happy to go over these anticipated costs and explain why they are necessary. In addition to closing costs, you will need a percentage of the amount you wish to borrow as a down-payment. This down-payment amount varies according to the type of mortgage loan you need.

2) What type of information will I need to complete my mortgage loan process?

The following items are necessary to complete any mortgage loan application. If additional documentation is needed, we will work with you to acquire it:

  • W-2 forms – the past two years’ W-2′s as well as pay stubs covering the most recent 30-day pay period
  • Past two years’ income tax returns (if self employed)
  • Bank statements – most recent checking and savings account statements, retirement and investment accounts, CD’s, etc.
  • Loans and credit cards – name, address, account number, balance and monthly payment (if real estate, please provide address)
  • Employment history – name, address, dates, position and salary for last two years. Please provide a letter explaining gap in employment, if any.
  • Residence history – length of occupancy for the past two years
  • Additional information may be required

3) What type of mortgages does The Bank & Trust offer?

We have a variety of mortgage loan options. Our goal is to work with you to find the one that best suits your needs. The following are a few of the mortgage lending products we have available:

Conventional Loans – Fixed-rate mortgage loans with the monthly principal and interest payment, interest rate and term of the loan guaranteed. Interest rates are usually lowest on the shortest term, and down-payments vary based on the total mortgage.

Secondary Market Loans – Loans that allow minimum down payment options.

The Bank & Trust Mortgage Lending team offers personalized service and believes in making our customers our number one priority.  Call Dana or Mark at (979) 260-2100 today for your mortgage consultation.