Home purchasers can put as little as 5% of purchase price down
No to low fee structure
No escrowing of tax and insurance
No loans sold to secondary market
In-house underwriting
Low documentation requirements
Quick approval process
Features of Homestead Purchases and Refinances
Maximum loan advance is 95% of purchase price or appraisal value, whichever is less
90% loan to value on refinances
Loans payments may be calculated over a longer amortization period (i.e. 20-30 years) however the loan will have a call or balloon feature not to exceed 15 years
For application or more information, call our Real Estate Department at 361-986-4500 or 800-622-331, option 3 or click here.
To process a Purchase or Refinance, the following documents are required:
Purchase:
Escrowed purchase money contract
Completed application including all assets and liabilities
Income verification: current and previous yr. (W-2, Tax Returns)
Refinance:
Completed application including all assets and liabilities
Income verification: current and previous Yr. (W-2, Tax return)
Copy of deed of trust on property to be refinanced
Copy of property insurance policy
Mortgage holder(s) name(s), address(es), acct. no. and balances
