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CapCenter Mortgage

in Home Purchase Mortgages from CapCenter · NMLS ID #67717

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CapCenter Mortgage

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in Home Purchase Mortgages from CapCenter · NMLS ID #67717

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Highlights
Loan Amount $100,000 - $3,000,000
Loan Term (Years) 10 - 30 years
Credit Score Range Starting at 620
No Origination Fee

CapCenter Mortgage Review

CapCenter Mortgage is offered by CapCenter (NMLS #67717), a direct lender founded in 1997 and based in Glen Allen, VA. CapCenter Mortgage is available in 5 states (and Washington, DC).

Key Takeaways
  • 3 different mortgage programs offered. CapCenter Mortgage offers FHA, VA, jumbo, conforming, and conventional mortgages.
  • Financing for single-family and multi-family properties. However, CapCenter does not offer financing for manufactured homes.
  • Refinancing for large mortgages. You can refinance mortgages with balances of up to $3,000,000 with CapCenter Mortgage.
  • Standard interest rates types. CapCenter Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • No origination fee. CapCenter Mortgage does not charge a fee for processing your application on some loan options.
  • Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for CapCenter Mortgage.
CapCenter Mortgage Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Considers applicants with fair credit.
  • Offers financing for both single and multi-family homes.
  • Only available in 5 states.
CapCenter Mortgage FAQ

How much can you borrow via CapCenter?

CapCenter Mortgage allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with CapCenter Mortgage?

CapCenter Mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does CapCenter offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Do they charge mortgage origination fees?

No, CapCenter Mortgage does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Do they charge prepayment fees?

No, there are prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Besides conventional mortgages, CapCenter Mortgage offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does CapCenter Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. CapCenter Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for CapCenter Mortgage is .

What is the support contact email?

The support contact email for this business credit card is customerservice@capcenter.com.

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Message From CapCenter Mortgage

CapCenter was founded in 1997 with a simple mission: to protect our clients during the most important financial decisions of their lives. With our Zero Closing Cost Mortgages, we save borrowers thousands of dollars in needless transaction costs and fees on their home purchase and home refinance loans. To date, our relentless dedication to service and savings has resulted in industry leading client satisfaction and over one hundred million dollars in client savings.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 7:00pm
  • Tuesday 8:30am - 7:00pm
  • Wednesday 8:30am - 7:00pm
  • Thursday 8:30am - 7:00pm
  • Friday 8:30am - 7:00pm
  • Saturday 10:00am - 4:00pm

Other Services by CapCenter

Availability

  Available in 5 states and Washington, D.C.
  • Washington, DC
  • Georgia
  • Maryland
  • North Carolina
  • South Carolina
  • Virginia

Feature Breakdown

No Origination Fee
No Prepayment Fee
Credit Score Range 620 -
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Individual Applications
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
Verification Documents Required
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
  • Proof of Residence
  • Social Security Number
Loan Amount $100,000 - $3,000,000
Loan Term 10 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA
  • Jumbo

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