The Home Mortgage Process

Understanding the Steps for your Mortgage

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The Home Mortgage Process

The home mortgage process typically follows these key steps, from pre-approval to funding and closing. Here is a brief overview of each step:

1.) Pre-Approval

Select your lender: “Capital Home Mortgage”
Submit Documents: Pay stubs, W-2s or tax returns, Bank statements, Proof of assets and debts.
Credit Check: The lender will evaluate your credit score and financial health.
Pre-Approval Letter: Receive a letter showing how much you can borrow. Strengthens your home offer.

2.) Loan Application

After your offer on a home is accepted, formally apply for the mortgage.
Confirm loan type (e.g., Conventional, FHA, VA, USDA)
Confirm terms (fixed-rate or adjustable-rate, loan duration, etc.).
Provide any additional documents requested by the lender.

3.) Loan Estimate

Within three business days of your application, the lender will provide a Loan Estimate, detailing:
- Estimated interest rate.
- Monthly payment.
- Closing costs.

4.) Processing

Property Appraisal: The lender orders an appraisal to verify market value matches the loan amount.
Verification: Lenders verify your employment, income, credit, and other financial details.
Title Search: A title company checks for liens or issues with property ownership.
Homeowners Insurance: You must select an insurance carrier.

5.) Underwriting

An underwriter reviews all documents to assess risk.
Ensure compliance with loan guidelines.
Request additional information or clarification (referred to as “conditions”).
Issues a conditional approval.

6.) Loan Approval (Clear to Close)

Final Review of final by underwriter to review conditions
Review of title commitment to ensure no outstanding liens existing.
Review of final appraisal to confirm value of property.
Underwriter issues a clear to close.

7.) Closing Disclosure

At least three business days before closing, you’ll receive a Closing Disclosure.
This document provides the estimated final loan terms and breakdown of closing costs.
This CD must be signed and acknowledged to start closing process.
Review with Loan Officer if you have questions.

8.) Closing Day

Attend the closing appointment to:
- Review and sign loan documents.
- Wire Funds for Down Payment and closing costs
Once the transaction is complete, the lender funds the loan.

9.) Funding and Recording

The loan is funded.
Deed is recorded with the county, transferring ownership to you.
Receive the keys to your new home!
Moving day.

10.) Specific Considerations

Loan Limits: conforming loan limits may vary by county, including the high-cost areas.
- Fannie Mae and Freddie Mac Loan Limits
- HUD Loan Limits
- USDA Loan Limits
- Native American Loan Limits
Escrow: California uses escrow companies to handle funds and paperwork during the closing process.
Disclosure Requirements: Different States require different lender disclosure laws to protect buyers.

Capital Home Mortgage Rates

Why Homeowners Choose Capital Home Mortgage

Close On Time

Complete Control Application to Funding

Competitive Rates & Fees

Direct Lender Full Line of Programs

Exceptional Service

Customer Support Application to Final Payment

Why Homeowners Choose Capital Home Mortgage

Close On Time

Complete Control
Application to Funding

Competitive Rates & Fees

Direct Lender
Full Line of Programs

Exceptional Service

Customer Support
Application to Final Payment

Capital Home Mortgage Company Reviews

Home Mortgage Programs

Home Purchase Loans

Looking to Purchase a Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

Primary, 2nd Home, Investment
Competitive Rates & Fees, No fee Options
FHA, VA, USDA, Native American
Conventional, Jumbo & Renovation
Manufactured, Construction, Reverse

Renovation Home Loans

Looking to Rehab a Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.

Remodel, Renovate or Repairs
FHA 203K Streamline
FHA Full Documentation Rehab
Fannie Mae Homestyle Reno
Freddie Mac Home Choice Reno

FHA Home Loans

Great 1st Time Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.

Smaller Down Payments
Flexible Underwriting Guidelines
Higher Debt to Income Allowed
Lower Credit Scores – Down to 500
Down Payment Gifts Allowed

VA Home Loans

100% Financing for Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

No Mortgage Loan Limits
Simple Qualifying
Higher Debt to Income Allowed
Lower Credit Scores – Down to 500
Manual Underwriting Allowed

Conventional Home Loans

Flexibility for Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.

Primary, 2nd Home, Investment
Single and Multi-Family Properties
Variable Mortgage Insurance Options
Low Rates & a Variety of Terms
Renovation Programs Available

Jumbo Home Loans

Non-Conforming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.

Primary & 2nd Homes
Variety of Mortgage Programs
Simple Qualifying for Veterans
Investor Specific Guidelines
Credit Score Minimums

USDA Home Loans

100% Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.

Primary Residences
No Down Payment Required
New Manufactured Homes Allowed
Closing Costs / Repairs Rolled In
Geographic and Income Limits Apply

Native American Home Loans

Hud 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.

Primary Residence Only
Manual Underwriting for All Loans
No Credit Score Requirements
Tribal Grants Allowed
Purchase, Refinance, and Renovation

Manufactured Home Loans

Great Alternative Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.

Existing Purchase or Refinance
New Construction
One Time Close Land/Home Combo
Lock at Contract
FHA, VA, USDA, Native American

Reverse Mortgage Loans

Your Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

Primary Residence Only
Simple Qualifying – Equity Based
No Credit Score Requirements
Minimum Age 62
Purchase, Refinance, and Cash-Out

Non QM Home Loans

Making Mortgages Possible

Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

Purchase, Refinance & Cash-out
Primary, Secondary, Investment
Full Doc Programs
Alt Doc Programs
Corporations OK

One Time Close Home Loans

Build Your Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.

Primary Residences Only
One Time Close
Lock Rate at Closing
Traditional Final Mortgages
No Payments During Construction

Refinance Mortgage Loans

Rate & Term Refinance

Refinancing can be a hard decision and may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor for details.

Lower Monthly Payment
Shorten Mortgage Term
Streamline Options Available
Appraisal Waivers Allowed
VA IRRRL’s

Cashout Mortgage Loans

Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home. Refinancing may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor.

Debt Consolidation
Investment Opportunities
Home Improvement
Dream Vacation
Higher Education

State Specific Mortgage Information