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Today, buying a home that meets your family’s needs can be difficult. Between the competitive real estate market and location concerns, you may find yourself stuck in a rental, just waiting for something to pop up. You’re not alone, countless adults are feeling like their dreams of becoming homeowners are out of reach. But you […]
Seeing your dream home come to life right in front of your eyes is an incredible process. It’s something you’ve waited so long for, and you’ve picked out every little detail down to the colors, patterns, and finishes. There’s no denying that building your dream home requires many steps. One of the most significant milestones […]
VA Loans If you are a veteran, thank you for your service! The entire Capital Bank Home Loans team appreciates the sacrifices you have made in defending our country. If you are reading this, then you are most likely considering buying a home and would like to know more about VA loans. VA home loans […]
A home purchase is one of the most significant financial decisions most people will ever make. Unless you’re paying for a home entirely in cash, which isn’t typical, it’s sensible to meet with your lender to discuss ways to reduce costs. Two methods of reducing how much you pay for your home are lender credit […]
What is earnest money? Earnest money, sometimes called a “good faith deposit,” is a sum of money that is included with your offer to purchase a home. Earnest money has become standard, especially in today’s competitive real estate markets. The purpose of earnest money is to tell the seller that you’re serious about purchasing the […]
For years, the 30-year mortgage has been seen as the gold standard for American homeowners. In fact, according to Freddie Mac, a federally-backed mortgage guarantor, an overwhelming 90% of today’s homeowners opt for a 30-year mortgage to pay back their home loan. However, home-buying trends are shifting, with Americans starting to delay homeownership due to […]
Thank you for your service! The U.S. Department of Veterans Affairs (VA) thanks you, too, by extending your benefits to include home loans with excellent terms. The VA backs home loans for veterans, military service members, and their families through lending institutions approved to work with the VA. Borrowers who meet service eligibility requirements can […]
You may be in the market for a home, but not so fast! Before you start shopping for a home, it’s important to understand financing—more specifically, the difference between a fixed-rate or adjustable-rate (ARM) mortgage. Both have their pros and cons—and it all depends on how long you want to spend in the home and […]
The reasons for wanting to buy a first home are so personal! You may be facing a life-changing event like marriage or a new baby; you have a new job with a big salary increase and feel ready to start thinking about buying; or perhaps you’re at an age when all your friends have houses […]
With mortgage rates at historic lows, more people than ever are refinancing their mortgages. These opportunities apply to your primary home as well as your investment property. When you refinance an investment property, there are things you should consider like your existing interest rate, closing costs associated with refinancing, and determining the type of loan […]
Are you trying to decide between an FHA and a conventional mortgage for your home loan? The easy answer is to find the loan that best fits your particular situation and needs! Here’s information to help you with the pros and cons of FHA loans and conventional mortgages. We’ve also included a comparison chart between […]
When homeowners need extra cash, they often borrow against the equity in their home, known as home equity loans or lines of credit (HELOC). Let’s explore the options of cash-out refinance vs. HELOC. Cash Out Refinance vs HELOC A HELOC allows you to borrow against the equity in your home to draw out cash when […]
Neighborhoods such as subdivisions, planned communities, or condominiums can organize a homeowners association (HOA) to govern the community. HOAs have recently increased in popularity, and Americans have a one in five chance of living in an HOA property. The HOA creates and enforces rules, called Covenants, Conditions, and Restrictions (CC&Rs), that address the maintenance of […]
What Happens When COVID Mortgage Deferment Ends? As families and individuals alike struggle to recover from the numerous hardships caused by COVID-19, some may wonder how to proceed when the time comes for their COVID-19 mortgage deferment to end. Depending on the borrower, COVID-19 forbearance could apply to a home mortgage, student loans, or any […]
Home has become more important than ever these past few months. It’s our safe space. Being quarantined, though, can make us view home in a new light – and inspire us to make changes to the property to benefit the whole family. So if you’re considering updating a bathroom, remodeling the kitchen, or making other […]
Hoping to buy a house while still carrying student loan debt might seem like a dead end – as in, why even try to get a mortgage? The typical amount of education debt outstanding in 2018 per person was between $20,000 and $25,000, according to the Federal Reserve Bank. On average, that’s a payment of […]
In just a few short weeks, the COVID-19 outbreak has changed our lives and raised serious questions about the future. The Federal Reserve Bank has slashed interest rates to zero (among other actions) to try to lessen the economic damage of business and job loss. A zero interest rate also can result in mortgage rates […]
With interest rates at historical lows right now, mortgage interest rates are holding steady, too. So it may make sense to refinance – get a new home loan and pay off the old one. There are several things to look into and factors to consider before you decide, but it boils down to this: Will […]
Figuring out the financial aspect of buying a home is more than a mortgage calculator would have you believe. Loan interest rate and monthly payments are just a snapshot of the costs of buying a home. The bigger picture is the type of home loan (or loans) that fit your finances and the effect on […]
Are you ready to buy a home? Congratulations! Owning your own home comes with many benefits and is an amazing feeling. For most of us, a home is the biggest purchase we will ever make. That makes the purchasing process, from start to finish, very important. You might be asking yourself why should I get […]
Transferring digital information during real estate transactions makes it easy and convenient for everyone to do business. While financial institutions (like Capital Bank Home Loans) have sophisticated cybersecurity systems in place, everyone has to be continually vigilant against cyber-breaches. As an individual you can be on alert to keep your personal information safe when getting […]
If you’re reading advice online about buying a home (and who isn’t!), you’re likely to come across a question that many homebuyers ask: Should I work with the mortgage lender my real estate agent recommends, or find one myself? That’s a really important question to answer. Choosing Your Own Home Lender Vs. Realtor Recommendations Experienced […]
When shopping for a mortgage, lenders will typically provide two different numbers to show the cost of borrowing the money. The mortgage interest rate, which is related to the cost of borrowing the principal amount of the loan. It is the cost you will pay each year to borrow the money, expressed as a percentage […]
Are you wondering how to get pre approved for a mortgage? It’s one step in the home buying process you shouldn’t overlook. What Is A Mortgage Preapproval? Mortgage pre-approval means that a lender has conditionally approved you for a set home loan amount, based on your credit and finances. Having a mortgage pre-approval letter in […]
Most people Googling “how to buy a home” soon find out that credit score plays a big role in getting a mortgage. Your credit score shows lenders how to rate you as a borrower. Lenders want evidence that you pay bills and repay loans. A history of using credit plus a good credit score give […]
If you’re researching the finances of buying your first home, you are learning there are a lot of costs associated with buying a home. In fact the term “closing costs” likely keeps popping up. Closing costs are the charges and fees related to buying a house in your state and county and getting a home […]
Quick quiz: You’re thinking of buying a home – What’s the first thing you do? A. Look online for open houses you can tour B. Find a real estate agent C. Talk to a loan officer The answer is “C” – and not just because we’re a bank. A loan officer helps pin down your […]
So, you estimated monthly mortgage payments to see what you can afford and … somebody just broke the news you need to factor in other payments, too. Yep. Here are some costs of homeownership related to carrying a mortgage. An example of how they might translate to dollars per month is at the end of […]
Thinking about buying your first home? That’s exciting! It’s also a little scary – first-time home buyers face a big financial commitment and a whole lot of new information. Don’t worry about the information, though. We have some insider secrets to help you sort out what you need to know and do. Here […]
