Whether you're a first-time homebuyer or you're ready to purchase a home that is just the right size for your retirement, our knowledgeable mortgage professionals at Community National Bank & Trust of Texas (CNB&T) are just a phone call or an online application away. Community National even offers loans for the purchase of manufactured homes (which few bankers will do). We'll explore all your financial options together, supporting you in choosing the loan that's best for you and your future plans. Below find information relevant to Buying versus Renting, our Top 5 Home Loan Tips, information relevant to Closing your mortgage loan, and a comparison chart showing the types of home loans available to you. Buying vs. RentingDid you know that buying a home could actually cost less than renting in the long run? With an improving economy and low interest rates, home ownership is a viable option for more people.Of course, it's important to consider the pros and cons: CONS PROS
CONS PROS Your decision to buy or rent, whether you're single or with a family, no doubt will be based on what's right for you financially, in keeping with your unique circumstances and preferences. But you never have to go at it alone - it all starts with Community National, and all the services and tools you need are right here! Our personal mortgage bankers would like nothing better than to walk you through each step of the seamless process that leads you home. Visit our Mortgage Glossary for an explanation of terms relevant to the mortgage loan industry and process. Top 5 Home Loan TipsWhen homeownership is your choice, our CNB&T mortgage lenders are eager to guide you to the right home loan and to support you with our expertise. Take our Top 5 Home Loan Tips into account as you prepare and plan. They're key in opening that front door to your dreams. The amount of the purchase price you pay is called the down payment. Your down payment can range from 3.5% to 20%, depending on the type of loan we help you choose. Establish a monthly budget to set aside money for your down payment. Having that amount automatically deposited from your paycheck or bank account to a savings account could make it easier to reach your goal. Let us help you clarify your options. When you apply for a mortgage, you need to have your financial documents in order. Having these documents assembled and ready for your CNB&T mortgage lender will speed up your loan application process. Be prepared to provide your pay stubs for the last 60 days, your bank and brokerage statements for the last 2 months, and the last 2 years' tax returns and W-2 forms. Real-estate agents often want you to be prequalified for a loan before they begin working with you. Prequalification gives you a sense of how much you can borrow and the price range of affordable homes. The requirements for this step are fairly basic - financial information such as your income and the amount of your savings and investments. Simply apply by clicking on this link: http://mybanktx.com/loan-prequalification-app/. Be prompt in responding to your CNB&T mortgage lender's requests for any additional information after you have applied for a loan, and return any paperwork as soon as possible. If you wait too long, it could delay closing your loan and cause problems with the home you hope to buy. Bottom line: you could lose your dream home, along with any deposit you may have put down. So don't hesitate to call us with any questions or concerns. You always will have direct access to our mortgage experts, person-to-person whether you're in the bank or on the phone. Lenders often pull your credit report a second time before your loan closes to see if anything has changed. So don't do anything to bring down your credit score while your loan is being processed! This means all bills must be paid on time, make no applications for new credit cards or increase credit card debt, and don't take out any new loans until your home loan is closed. Types of LoansCNB&T offers a variety of home loan types, from conventional fixed rate loans to adjustable rate loans with options to purchase via an FHA, VA or USDA loan, depending on the home you are purchasingand your own life circumstances. We've developed this comparison chart for your ease in noting the differences. Yet, nothing replaces a visit with a CNB&T lending officer who can readily explain loantypes as well as quickly help you consider your best option. Call us today and we'll set that appointment at your convenience. ClosingYour hard work to save, plan and prepare for home ownership culminates with the closing process. It's no wonder most people feel excited and a little anxious. In fact, you may still have a few questions. But don't worry! The same CNB&T personal mortgage banker you've come to know and rely on will be there beside you on this special day to answer questions and explain the closing documents. You will sign many documents at closing but the three main items are:
What to bring to ClosingIt's reassuring that your personal CNB&T mortgage expert will walk you through the final steps on closing day. And here's what you'll need to bring:
877.654.4500
|
||