Mortgage Lending

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Stacy A. Crowder Mortgage Loan Officer (979) 821-1207		Pamela C. Salvato Assistant Vice President 979) 821-1208

The mortgage lending representatives at First National Bank 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, planning to build your 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, such as FHA, ARM, conventional, etc.?
• 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 homebuying experience a pleasant one. We offer genuine care and personal service. Make an appointment today by calling (979) 821-1207.

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 First National Bank 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 First National Bank offer?

First National Bank has 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:

Prequalified Loan Program – Get prequalified for your home loan before you begin to look for a house by calling First National Bank's Mortgage Lending department. By getting prequalified first, you will know in advance how much money you are qualified to borrow for a home and you will have greater negotiating power. Prequalification also allows you to close more quickly on your new home.

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.

FHA Mortgages – Government insured loans that require low down-payments, have assumption privileges and provide many advantages to homebuyers purchasing moderately priced homes.

Adjustable Rate Mortgages (ARMS) – Adjustable rate mortgages offer a lower initial rate that may increase or decrease periodically in response to economic indicators. These changes are limited to a specific range throughout the term of the mortgage.

Call (979) 821-1207 today to prequalify for a loan or to make an appointment. First National Bank offers fast, efficient, in-house decision making because we're locally owned and operated.