Securing financing is just one aspect of getting into a new home. LONE STAR HOME & LOAN is experienced at helping 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 buying and selling.


Are you thinking about financing your new home in Brownwood? LONE STAR HOME & LOAN can help.

When buying a home, applying for a loan is stressful for a lot of people, but it doesn't have to be. Being connected to several lending companies in Brownwood has helped me learn a lot of the things that will make the process of applying for a loan effortless.

1 – Put together a list of questions regarding your loan program

Be sure you have a list of questions if you do not fully grasp the pros and cons of all the various loan programs. Oftentimes, it can be hard to understand the characteristics of both fixed and adjustable rate mortgages. We or one of our lender contacts will assist you in understanding the advantages and disadvantages of each program.

2 – Decide when to lock

When you lock in the rate, it designates that the mortgage lender commits to the interest rates for the loan – normally at the time the loan application is sent in. By floating the rate, you can lock the rate at any time between application and at the time of closing. Those who opt to float think that interest rates will dip in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to reduce your rate

When you choose to pay additional points to loir the interest rate of your loan, you will do so by paying for them in cash at closing. Every point is 1 percent of the loan. To determine if purchasing points is right for you, click here to use our points calculator.

4 – Compile your paperwork

Obtaining a mortgage loan requires lots of paperwork, so you should take some time to get all your documents together. Click here to preview normal questions you'll have to ansir on a loan app.



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