News Release, October 15, 2009...CapitalBank Approved as Title II FHA Lender
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CapitalBank offers a variety of mortgage loan products designed to meet your individual needs. We have construction loans, fixed rate loans, and adjustable rate loans for purchases and refinancing.
Fixed Rate Mortgages
A fixed rate mortgage is a conventional loan featuring an interest rate that remains the same for the length of the mortgage. We offer a variety of products that are sure to fit your budget. To find out what product meets your needs, contact your local Mortgage Banker.
Adjustable Rate Mortgages
An adjustable rate mortgage offers an initial interest rate that is lower at the beginning of your loan and then adjusts within a set range over the term of the loan. An adjustable rate mortgage is also called an “ARM”. We offer a variety of products that are sure to fit your budget. To find out what product meets your needs, contact your local Banker.
Construction-Permanent Loans
We have two great construction-permanent programs with a one-time closing. We offer both fixed rate mortgages and adjustable rate mortgages with very competitive rates.
Refinancing
Refinancing can bring your family many financial advantages:
 faster payoff of your mortgage - lower monthly payments
- allows you to take cash out of your property
If rates have fallen since you applied for your current loan,
contact us about refinancing.
Tips to prepare for a Mortgage Loan
- Prequalifying for a Loan
Before you start seriously looking for a home and before you make an offer, consider letting us prequalify you for your loan. Prequalifying lets you know exactly how much you can afford and gives you more bargaining power if the seller knows you are already pre-approved for a mortgage loan. Prequalifying generally takes little time and being prequalified will make the final application process go quicker.
- Down Payment
A typical down payment usually ranges from 0% to 20% of the cost of the house, depending on the terms of the loan and your financial situation.
- Closing Costs
There are other costs involved with buying a home. These are considered closing costs and can include many different fees. Not all lenders charge the same types of fees or the same amounts, so comparing costs can save you money.
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