Financing To Get You Into Your Dream Home
Purchasing a home is one of the biggest decisions you will ever make. You will spend a lot of time focusing on what features are going to be important in your new home, but you should also spend a lot of time focusing on what you are looking for in a lender. Austin Bank can service your lending needs throughout the entire process, from pre-approval to closing. Stop into your local office to speak with one of our mortgage lenders about your home loan needs. You can also download the Consumer Financial Protection Bureau’s home loan toolkit to better prepare yourself for your application process.
Home Loans We Offer
| Loan Type | What You Should Know |
|---|---|
| Fixed-Rate Mortgage | This is a loan for those who want to make a consistent payment each month and plan to own their home for more than 10 years. Your rate stays the same throughout the term of the mortgage. |
| Adjustable-Rate Mortgage | The rate for this loan is fixed for an initial period and then is subject to change. Adjustable rate mortgages offer flexibility to borrowers and are ideal for those who plan to own their home less than 10 years. |
| VA Mortgages | VA mortgages are offered through the Department of Veteran Affairs for veterans and their immediate family or survivor spouses. Benefits of VA mortgages include reduced down payment requirements and no mortgage insurance requirements. |
| First Time Homebuyers Loan | These loans are designed to help homebuyers overcome some of the barriers to home ownership. First time homebuyer loans typically have lower down payment requirements and fixed interest rates. |
| Construction Loans | Build your dream home the way you want. Construction loans give you the ability to pay for costs associated with building your new home, including purchasing materials. |
| Home Loan Refinancing | If interest rates are lower than when you first applied for your mortgage loan, refinancing your loan can be a great option. Refinancing will reduce the amount of interest you pay on your loan, potentially saving you thousands of dollars over the lifetime of your loan. |
| Home Equity Loans | Use your home’s built up equity to your advantage. Home equity loans are available as a lump sum loan that can be used to pay for a variety of items, including home renovations and debt consolidation. |
Our Home Loan Application Process
1.
Complete Our Online Application
The first thing you will do is complete the Austin Bank online application. The process takes about 20 minutes. Once your application has been submitted, a member of our mortgage lending team will reach out to you to let you know what you qualify for. You can complete our online application by clicking the button below.
2.
Complete Home Loan Packet
You will receive an application packet containing papers for you to sign and a list of items we will need to verify the information in your online application. Additional services will be completed including ordering the appraisal, flood determination, title insurance and other items to prepare the loan for closing.
3.
Closing
After we receive the completed application packet, the appraisal, flood determination and the title work, we will contact you to schedule your loan closing.
AB Community Investment Company
ABCIC’s affordable housing program is designed to help low- to moderate-income applicants find solutions that will allow them a path to homeownership. This program includes:
- More favorable loan terms
- Reduced closing costs
- Escrow for taxes and insurance
- Homeowners Education Program provided at no cost
There are income requirements as well as employment and residency requirements involved in this program. All loans are subject to credit approval.
Have you filled out a loan application (mortgage, car, credit card, etc.) with a lender and wondered why you were quickly contacted by another? This could be the result of trigger leads. Click here to learn more about Trigger Leads.