A mortgage loan is an exciting step, but it’s also a big financial decision. You deserve a loan from a bank you trust.
Broadstreet Bank has been serving East Texas for 90 years, and we’re committed to our community.
We received the 2022 Leaders in Financial Education (LiFE) award for our Financial Literacy Program. If you’re ever unsure of anything during your mortgage process, we’re committed to helping you understand.
At Broadstreet Bank, we’re here to support you on your journey. We make banking feel like home, and that’s what your home-buying journey deserves.
When you’re ready for your dream home, let Broadstreet Bank handle the financing.
If you need access to cash, you can use the equity in your home as collateral.
Ready to transform your home? Home equity loans are a great tool.
Interim construction loans are short-term, allowing you to build your dream home quickly.
Start from the ground up and acquire your perfect plot with Broadstreet Bank’s land loans.
If you would qualify for a mortgage but don’t have enough for a large down payment, this loan is for you.
Start with as little as 3.5% down when you choose an FHA loan.
Servicemembers, veterans, and their families qualify for this special Department of Veterans Affairs loan.
Low-income families in rural areas can benefit from this homeownership loan, insured by the USDA.
If you would rather do your loan application by hand, print out the documents below and bring them to your local Broadstreet Bank!
You may apply online or visit with a loan officer at any of our locations.
Getting prequalified for a mortgage isn’t necessary, but it can be beneficial. It lets you know how much you can comfortably afford when shopping for a home. Also, submitting a preapproval letter when making an offer on a home may give you an edge over other buyers.
Down payment amounts vary depending on the type of loan you choose. The down payment for a conventional loan is 20%. If qualified, you can put less down but will be required to pay private mortgage insurance (PMI). Non-conventional loan options may require less of a down payment. Any of our experienced mortgage lenders can review the different loan options available to you.
Private mortgage insurance (PMI) is a type of mortgage insurance you are required to buy if you take out a conventional loan with a down payment of less than 20% of the purchase price. This insurance premium is added to your loan payment and covers the lender if you default on your loan. You can request to have PMI coverage dropped once your loan-to-value ratio (LTV) reaches 80%, or it will automatically drop off when your LTV reaches 78%.
Yes. Assessing a borrower’s credit is part of the process of approving a mortgage. When you apply for a mortgage with Broadstreet Bank, you authorize us to run your credit in conjunction with your mortgage loan application.
When you’re ready to take the next step in your home-buying process, we’ll be right by your side.
Call or visit your local Broadstreet Bank to get started today.