Getting your loan locked down is just one part of a home purchase. LONE STAR HOME & LOAN is seasoned at assisting both new and experienced buyers alike in all areas of real estate. Contact us if your needs include a real estate pro experienced at the business side of real estate.

Applying for a loan

Feeling lots of anxiety over applying for a mortgage? You don't have to be. We have excellent relationships with many lenders in the Brownwood area, and they've helped us learn some things that will make the loan application process very manageable.

1 – Organize a list of questions regarding your loan program

Be sure you bring a list of questions if you find that you do not perfectly comprehend the pros and cons of the different programs. One of our trusted lenders or staff will be able to help you understand the advantages and disadvantages of each program, because it's hard to know the characteristics of fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in a rate, it signifies that the mortgage lender holds to the interest rates for the loan – often at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the loan application day and the issuing of closing documents. Those who decide to float think interest rates will decline in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Bring your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for common information that goes on a loan application.