Your mortgage will likely be one of the largest financial transactions you ever complete. At Capital City Home Loans, we simplify the process and seek to provide the most efficient and simplified mortgage experience possible. Our approach is proof that your home mortgage experience doesn’t have to be difficult, stressful, or time consuming. We make things simple.
Besides the actual type of mortgage loan program you select, there are other important characteristics of your mortgage that determine exactly how much you will pay – both monthly and over the life of your mortgage. We offer a variety of mortgage loans, at competitive rates, to make buying, refinancing or building your home affordable. It is more important than ever to work with a mortgage banker you can trust and an experienced lender who knows our local market. If you are a first-time home-buyer or a fifth-time home-buyer, my team and I will always give you our white glove customer service. Read my customer testimonials to find out more about my team and me.
Most importantly, I will give you advice to help you select the mortgage that is right for you and fits your budget. For your complimentary mortgage analysis, Apply Online today.
FHA loans are mortgages insured by the Federal Housing Administration (FHA). Congress established the FHA in 1934 to help lower income borrowers obtain a mortgage that otherwise would have trouble qualifying.
Because FHA loans are insured by the government, they have easier credit qualifying guidelines, as well as relatively low closing costs and down payment requirements. Your down payment can be as low as 3.5% of the purchase price, assuming you have at least a 580 credit score and closing costs can be paid by the seller or by the lender.
FHA loans are available for both purchases and refinances, including cash out refinances.
Conventional loans are backed by Fannie Mae and Freddie Mac and have established guidelines for borrower credit scores, income requirements and minimum down payments. For example, most conventional loans require somewhere between 5% and 20% down. We offer a conventional mortgage loan with only 3% down.
Most of these mortgages have either fixed or adjustable interest rates. Typical fixed interest rate loans have terms between 10 and 30 years. Hybrid adjustable-rate mortgages, or ARMs, fluctuate in relation to the rate of a standard financial index.
The drawback of conventional loans is the difficulty they present for borrowers with less than good credit or lack of a substantial down payment. But on the upside, conventional mortgages generally pose fewer bureaucratic hurdles than FHA or VA mortgages, which may take longer to process because of the red tape. And because these mortgages generally require higher down payments than the others, home equity can build up faster.
Capital City Home Loans is grateful to the service men and women in our country and offer VA loans to help our vets qualify to purchase or refinance their home with absolutely no down payment.
The Veteran’s Administration Home Loan program is specifically for veterans, active military, and surviving military spouses. Those interested likely meet the service requirements if the potential home-buyer served 181 days on active duty during peacetime; 90 days on active duty during wartime; or served six years in the Reserves or National Guard.
Unlike conventional loans, VA mortgages offer the unique benefit of $0 money down. In fact, 9 out of 10 VA Loan borrowers do not place a down payment. This benefit is here to make the purchase of a house easier and more accessible to those who have served our nation.
The United States Department of Agriculture administers and backs the Rural Development Home Mortgage program. This program assists homebuyers in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. The program provides a 100% loan program to approved buyers in geographic areas that are designated as rural by USDA. For more information, visit the USDA website or call me at 912-771-2115 to discuss program details.
Jumbo mortgages are home loans that are bigger than normal. They exceed the “conforming limit” — the maximum loan amount that Fannie Mae and Freddie Mac will buy. This amount is generally set at anything higher than $510,400, though this amount varies based on the housing market.
At Capital City Home Loans, we understand how difficult it is to find specialized financing. That’s why we offer specialty loan programs to give you as many options as possible to qualify for your dream home. These products range from Non-QM Mortgages (Interest Only, Investor Specials, Self-Employed Bank Statement Loans, etc.) to in-house loans adjusted to fit your needs. If you have had a recent credit event (foreclosure, bankruptcy, short-sale, etc.), or have credit troubles, these mortgages can help you finance your next home when other mortgage lenders may turn you down.
Construction financing allows the buyer to build the home of their choice on land they are purchasing or on land they already own. Additionally, we also provide renovation mortgages that can be used to purchase a new home, or refinance and renovate an existing home.
Our one-time close structure protects both the buyer and the home builder. Features of this program include:
Home equity lines of credit and home equity loans allow homeowners to borrow against the value of their homes. You can borrow up to 80% of your home’s equity with flexible terms. If you need financing for a project with a fixed cost – like a new sunroom or college tuition – consider a Capital City Home Loans fixed-rate home equity loan.·