As a Mortgage Banker (or Correspondent Lender) Hometown America Incorporated works
for you to find the best interest rate that is available in the market for the purchase or
refinance of your home or rent house (one to four units). Our Home Loan Specialists will
evaluate your situation and find the right program for you at the very best rate available.
Unlike large banks or retail lenders, Hometown America is unique in the marketplace as we
combine the best of “both worlds”---the financial stability and internal controls of a mortgage
banker with the flexibility of a mortgage broker. This approach enables complete control of
your loan process from utilizing the Automated Underwriting Systems (AUS) of Fannie Mae
and Freddie Mac to obtain a quick loan “Pre-Qualification”, selection of local appraisers, direct
dealings with underwriters to get final loan approval, controlling the ordering of closing
documents with the law firm, and funding at closing with our own funds (or from our
warehouse lines of credit). Our Residential Mortgage Loan Originators attend closings to check
over everything and to answer any questions a client might have.
Hometown America has the capability to access other lenders and programs including Texas
Banks (especially for Jumbo loans) so you don't have to fit into a "cookie cutter" program due
to limited options. Hometown America has programs to fit everyone from seasoned
homeowners, who have owned several houses, to first-time homebuyers, to Veterans (V. A.
Loans) and for someone that just wants to lower their rate or reduce the number of years
remaining on their mortgage loan. Our Residential Mortgage Loan Originators are experienced
in dealing with self-employed borrowers and in arranging construction loan financing on new
custom homes. Our Associates will explain and provide Good Faith Estimates and Truth-In-
Lending Disclosures on all transactions. On the more complicated transactions, our Home
Loan Specialists will supply multiple Good Faith Estimates.
As examples, one complicated scenario might be whether to do:
- A 90% loan with Private Mortgage Insurance (PMI) and an escrow account where the
borrower pays 1/12 of their property taxes and 1/12 of their homeowner’s insurance to the
lender each month as part of the mortgage payment, or
- An 80% first mortgage loan with a 10% second mortgage loan and a 10% down payment.
(This “piggy-back loan” combination does not have Private Mortgage Insurance (PMI) and
allows the borrower to pay their property taxes and homeowner’s insurance themselves rather
than setting up an escrow account with the lender.)
The “80% 10% 10%” loan may be better suited to a person than a straight 90% first
mortgage loan which has Private Mortgage Insurance (PMI) and where it is required that the
borrower setup an escrow account and pay into it monthly.
A similar scenario would involve the comparison of a:
- 95% loan with a 5% down payment, compared to an
- 80% first mortgage loan plus a 15% second mortgage loan with a 5% down payment.
Another complicated scenario that our Residential Mortgage Loan Originators can explain, by
providing multiple Good Faith Estimates to borrowers, is the trade-off between the amount of
the Origination Fee and the Interest Rate. For example:
- Option A might be an origination fee of 1% percent and an interest rate of 5% (This is not the
current market interest rate).
- Option B might be an origination fee of .5% percent and an interest rate of 5.125%.
- And Option C might be an origination fee of 0% and an interest rate of 5.250%.
In this scenario, the borrower can decide if they want to bring less cash to closing and pay
more each month on their mortgage payment or bring more cash to closing and pay less each
month on their mortgage payment. Their personal business decision may be based on many
factors such as how long they plan to live in the house, how much cash they have on hand,
and their alternative use of the money.
It won't take long to find out that Hometown America goes "above and beyond" to provide
excellent customer service and communication; and that we know our business. And you will
find that Hometown America will give you the honesty, integrity, and thoroughness often
lacking in the mortgage industry.
We believe that every customer deserves the highest level of respect and satisfaction when it
comes to financing their most important investment. We strive to provide the highest level of
customer service to make your financing experience smooth and trouble-free.
We will always work to put your needs first.
We will always make our best effort to fully qualify you.
We will always respond to every inquiry quickly, professionally and reliably.
We will always work to provide a mortgage solution that best fits your situation.
We will support and guide you through the process, including being at your side at the closing table.
A variety of information is available on this website to help you better understand the
mortgage process, so please explore to learn more, particularly review the Resources link in
the navigation bar.
We look forward to serving you!