Working with an experienced home loan specialist at Capital Bank means you’ll be prepared at each step. Because our underwriters and processors sit in the same location the home financing process is smoother, ensuring you close on you home in your timeline.
The benefits of home ownership.
- Build equity – mortgage payment reduces you loan balance over time, so you build the asset value that you own
- Easier budgeting – known monthly payments for a longer term give you predictability, without the unexpected changes of rental increases
- Tax savings – the amount of your mortgage interest and property taxes may be deducted on income tax returns (consult your tax advisor or accountant for details)
- Build credit history – making on-time mortgage payments means you’ll build credit faster
- Your space – decorate your home with your unique style without the concern of losing your security deposit
What to consider before getting started.
- Know your credit score, visit www.annualcreditreport.com to secure a free copy of your credit report every 12 months from all three credit reporting agencies
- Contact one of our Home Loan Specialists to be pre-qualified to know how much you can borrow, without any fees or obligations, to help you narrow your home search
- Plan for your down payment with our mortgage calculator and estimate what you can expect to pay
- Don’t forget your monthly payment will also include an amount for property taxes and homeowners insurance, and possibly private mortgage insurance
- Learn about loans that require little down payment from our Home Loan Specialists
- Two of our home loan specialists have ranked in the top 5 VA lenders in the nation1
What to expect once you’re ready to make an offer on your home.
- Know your financing options upfront so you can discuss the type of mortgage that might make sense for you
- Discuss a pre-qualification letter with your realtor so you can bid on a home confidently and show your commitment for home purchase to the seller
- Be prepared to make a “good faith” deposit to the seller; this lets them know you’re committed to your home offer
- Your representative will help you finalize your contract, outlining your home purchase details; this may be your realtor, attorney, or title company depending on your state
- The Consumer Finance Protection Bureau has a website with helpful information and calculators to help you in your home buying process