Mortgage

Adjustable-Rate Mortgages (ARM)¹

An ARM starts at a rate that holds for a set number of years. When that window closes, the rate begins adjusting on the schedule in your note — down when the index falls, up when it rises — and your monthly payment changes with it. That means your payment can increase even if you've made every payment on time. An ARM tends to suit borrowers who expect to sell, refinance or pay the loan down before the fixed period ends.

Questions about how our fixed periods work? Call a Lytle State Bank lender at (830) 709-3601.

NMLS #402270

Federal Housing Administration Loans (FHA)¹

An FHA loan is insured by the federal government rather than by a private investor, and that backing lets lenders offer it to buyers who may not fit conventional guidelines — including buyers still saving for a down payment. Under FHA rules, family members can gift funds toward the purchase, and sellers may contribute toward closing costs.

One cost to plan for: FHA mortgage insurance is mandatory. It's an upfront premium plus an annual premium that runs for the life of most FHA loans at low down payments — it doesn't drop off the way private mortgage insurance on a conventional loan can. We'll show you both before you apply.

Not sure whether you qualify? A Lytle State Bank lender will walk through it with you. Call (830) 709-3601. 

NMLS #402270

Portfolio Loans¹

Most mortgage loans are sold to an investor, and the investor's rules decide who qualifies. A portfolio loan is different: we keep it, so our own lenders make the decision. That lets us consider circumstances a conventional checklist doesn't accommodate — a self-employed borrower with irregular income, a non-standard property, a credit history that needs a closer look — and it's available for a primary residence or a second home.

• Underwriting, processing and closing all in-house
• No private mortgage insurance
• No prepayment penalty
• Loan documentation scaled to the borrower

Questions about which term fits your plans? A Lytle State Bank lender will walk through the numbers with you. Call (830) 709-3601.

NMLS #402270

Jumbo Loans¹

A jumbo mortgage is one that exceeds the conforming loan limit — the ceiling set annually by the Federal Housing Finance Agency, above which loans can't be sold to Fannie Mae or Freddie Mac. Because that ceiling moves every year and varies by county and unit count, the amount that qualifies as jumbo depends on the property.

A jumbo loan is often the answer when a purchase price or a refinance sits above that line. We make them on primary and second homes, at fixed and adjustable rates, up to $5,000,000 — and because we keep many of the loans we make, a jumbo borrower deals with the same local lenders from application to closing.

Not sure whether you qualify? A Lytle State Bank lender will walk through it with you. Call (830) 709-3601. 

NMLS #402270

Lot and Land Loans¹

Not every bank lends on land. We do — residential building lots and larger acreage, for buyers who want to secure a site now and build when they're ready.

Questions about how a land loan works? A Lytle State Bank lender will walk you through it. Call (830) 709-3601.

NMLS #402270

Construction Loans¹

A construction loan is different from a mortgage on a house that already exists. Funds are advanced as the work progresses rather than paid out at closing, so your lender is involved while the home is being built — reviewing progress, releasing draws, and adjusting if the plans change.

When the house is finished, the construction loan converts to a fixed-rate mortgage in most cases, and you begin repaying it on a long-term schedule.

The lender who helps you finance the build is still here when you move in. Call a Lytle State Bank lender at (830) 709-3601.

NMLS #402270

USDA Mortgage Loans¹

Not every loan is a conventional one, and not every buyer fits a conventional checklist. USDA's Section 502 guaranteed loan is for homes in designated rural areas, bought by households within the county's income limit for their size — which means it reaches buyers a conventional loan often doesn't.

What makes it useful: the money for the purchase can be borrowed rather than saved first. What to plan for: USDA charges an upfront guarantee fee, and an annual fee that continues for the life of the loan — unlike private mortgage insurance, which can end. We'll show you both before you apply.

Borrowers must meet USDA income requirements, and the property must be located in an eligible rural area. Call a Lytle State Bank lender at (830) 709-3601.

NMLS #402270

Manufactured Home Lending¹

A manufactured home is built in a factory to federal HUD code and installed on site. Not every lender finances them, and the ones that do are often out of state and hard to reach when something needs answering.

There are two ways to borrow against one, and the difference is worth understanding before you apply. A loan on the home alone treats it as personal property — the home isn't attached to real estate, so the loan is secured by the home itself. A loan on the home and land together is a mortgage on real property, and it usually carries a better rate. If you own the land, or are buying both at once, the second is generally worth asking about. If you later convert a home-only loan to real property, that's a separate Texas process and we can explain it.

Not sure whether you qualify? A Lytle State Bank lender will walk through it with you. Call (830) 709-3601. 

NMLS #402270