Mortgage Loans in Louisiana and Texas
Looking for a new home?
Owning your own home can be a reality when you let one of our Certified Mortgage Planner help find the best financing to meet your needs. Please contact Peoples State Bank in one of these areas nearest you and ask to speak to the Certified Mortgage Planner (CMP).
- Natchitoches Parish – 318-352-9089
- Sabine Parish – 318-256-2071
- Texarkana, Texas – 903-793-7417
- Rapides Parish – 318-448-2430
Home Loans
We offer a wide variety of first and second home loans. For more information, contact a Peoples State Bank Certified Mortgage Planner or Business Development Officer at one of our convenient locations near you.
FAQ's About Home Loans
What is a Home Loan?
A home loan is money given to you by a financial institution to buy a house. It requires a contractual agreement that you’ll pay back the loan with interest in specified monthly payments over a stated period of time. You can choose your payment term-the longer the term, the lower the monthly payment, but you’ll pay more in total interest.
Want to learn more? Contact Peoples State Bank at (800) 897-7499!
How much home can I afford?
Generally, lenders want your monthly payment, including taxes and insurance, to be 25-30% of your gross monthly income. Your loan officer can help you determine what price of a home to shop for by reviewing your income, debts and credit.
Contact a loan officer at (800) 897-7499 or visit any Peoples State Bank branch location.
How do I apply for a home loan?
When you have a home, contact one of our Business Development Officers who will assist you in filling out a loan application. The following pieces of information are needed for your loan application:
- Two forms for Identification with at least one photo I.D.
- Residence addresses for past two years
- Names and addresses of each employer for past two years
- W-2’s and last two pay stubs
- Names, addresses, account numbers, and balances for all checking and savings accounts
- Names, addresses, account numbers, balances and monthly payments on all current loans.
- If self-employed, the last two years’ tax returns and year-to-date Profit & Loss Statement prepared by an accountant
- Loan information and addresses on real estate owned
Contact a Business Development Officer at (800) 897-7499.
What happens after I apply for a home loan?
After you have applied for a loan, the information you have supplied will be verified and a credit report on you will be completed. An appraisal will be performed on the home you are purchasing to determine its market value. When all the information is collected, it will be reviewed for loan approval.
For more information about this process please contact Peoples State Bank at (800) 897-7499.
What should I know about closing costs?
Closing costs are up-front fees you pay the lender when taking out a home loan. These may include points. Points are a one-time charge you pay the lender to buy a lower interest rate than the current one. Each point equals 1% of the amount you are borrowing (i.e., if you borrow $90,000, one point costs you $900). Be sure to ask how many points you’ll be charged because you must pay them at closing.
What are they talking about? Read our Loan Definitions.
