Financing · Texana Bank, N.A.
One conversation about the house and the loan.
I'm licensed as a real estate agent and as a mortgage loan originator. When you want both, you get one person who understands the property and the financing. When you don't, that's fine too.
Two roles, kept separate
Peter Hitzel, Real Estate Mortgage Loan Originator (REMLO®)
NMLS #2696855 · Texana Bank, N.A. NMLS #407536 · Equal Housing Lender · Member FDIC
Real estate: PREMIERE at Real Broker, LLC
As your REALTOR®, I help you find, negotiate and close on a home. Florida license SL3558304.
Mortgage: Texana Bank, N.A.
As a Real Estate Mortgage Loan Originator (REMLO®), I take loan applications through Texana Bank. NMLS #2696855.
You aren't required to use Peter Hitzel or Texana Bank for financing to receive real estate services from Peter Hitzel or Real Broker, LLC. Compare lenders, loan programs, rates, fees and terms before you decide.
What to have ready
- Recent pay stubs or income documentation, and two years of tax returns if self-employed
- Recent bank and asset statements
- Photo ID
- For VA loans: your Certificate of Eligibility, or I can help you request it
In Southwest Florida, budget beyond principal and interest: homeowners and wind insurance, flood insurance in many zones, property tax at your purchase price, and, in Cape Coral, any city utility assessment on the lot. The Carrying Cost Worksheet walks you through it.
Mortgage 101
How home financing works, in plain English
A mortgage lender looks at four things: your income, your debts, your credit and the property. The loan program you choose (conventional, FHA or VA) sets the rules for each. Knowing those rules early helps you avoid surprises between contract and closing.
01
Loan programs
Conventional loans (Fannie Mae / Freddie Mac guidelines) suit borrowers with solid credit and stable income; mortgage insurance applies with smaller down payments. FHA loans offer more flexible credit guidelines and carry mortgage insurance. VA loans serve eligible veterans, service members and surviving spouses and have no monthly mortgage insurance.
02
Income
Income must be stable and documented. Lenders use gross (pre-tax) income. W-2 pay is the simplest; self-employment, commission, bonus and overtime income usually need a two-year history. Alimony, child support, Social Security and retirement income need award letters or proof they will continue.
03
Debt-to-income (DTI)
DTI compares your total monthly debt payments (new house payment, car, student loans, credit cards) to your gross monthly income. Each program sets its own limits, and strong credit or savings can help. VA loans also look at residual income.
04
Credit
Payment history and how much of your available credit you use drive most of your score, followed by length of history, credit mix and new credit. Pay on time, keep card balances low, and avoid opening new accounts or large purchases while your loan is in process.
05
Past bankruptcy or foreclosure
You may still qualify. Each program requires a waiting period after a bankruptcy discharge, foreclosure or short sale, and the length differs by program. Documented extenuating circumstances can shorten it. No credit history? Some programs accept rent, utility and insurance payment records.
06
Closing costs & seller concessions
Expect lender, appraisal, title, recording and prepaid costs at closing. In many purchases the seller can contribute toward your closing costs, up to limits set by the loan program. Your Loan Estimate lists every cost before you commit.
General education only, not a commitment to lend or an offer of credit. Program guidelines change and vary by lender and borrower. All loans are subject to credit approval, underwriting and property eligibility.
MORTGAGE & LICENSING DISCLOSURE
Peter Hitzel | Real Estate Mortgage Loan Originator (REMLO®)
NMLS #2696855
Texana Bank, N.A. | NMLS #407536
Equal Housing Lender | Member FDIC
Mortgage lending services are offered by Peter Hitzel, NMLS #2696855, through Texana Bank, N.A. All mortgage loan applications are subject to credit approval, underwriting, verification, property eligibility, applicable program guidelines, and other terms and conditions. Loan programs, interest rates, fees, terms, and availability are subject to change without notice.
Information provided on this website is for general informational purposes only and does not constitute a commitment to lend, loan approval, rate lock, financial advice, tax advice, or legal advice. Submission of a loan application does not guarantee approval or funding.
Peter Hitzel also provides real estate brokerage services separately as a REALTOR® with PREMIERE at Real Broker, LLC. Mortgage services provided through Texana Bank are separate from real estate brokerage services. Consumers are not required to obtain financing through Peter Hitzel or Texana Bank as a condition of receiving real estate brokerage services from Peter Hitzel or Real Broker, LLC.
Texana Bank does not operate as, and is not sponsored by, endorsed by, or affiliated with Real Broker, LLC or any other real estate brokerage with which Peter Hitzel may be associated.
Consumers are encouraged to independently compare mortgage lenders, loan programs, rates, fees, and terms before making a financing decision.
Licensing information for Peter Hitzel and Texana Bank is available through NMLS Consumer Access.
Equal Housing Lender.
Ask a Financing Question
No rates quoted here; I reply personally.