Choosing The Right Lender – Capstone Mortgage Co.

    Securing financing to purchase a home can be a daunting, confusing, and frustrating task for anyone who doesn’t have a degree in finance. Applying for a mortgage to purchase a home in the Phoenix Metro area can feel invasive, but connecting with a lender with whom you have a relaxed rapport can make the process fun and easy. Thankfully, Capstone Mortgage Co. and our experienced team are here to build a personal relationship with each borrower to ensure the smoothest transaction possible.

    New Lending Guidelines Mean You Can Purchase Sooner

    Regardless of your tax bracket, we were all affected by the 2008 economic recession. Many of us had hours cut at work, or even lost our jobs completely, which in the worst cases lead to bankruptcy or a foreclosure and the subsequent loss of your home. It left many of us wondering how to pick up the pieces. Many home buyers think that a foreclosure or bankruptcy on their record makes them ineligible to own a home for 7 to 10 years. This couldn’t be further from the truth! Because of changes to the government-insured program called the Federal Housing Authority’s (FHA) lending guidelines, borrowers can now qualify for traditional financing in as little as 3 years after a foreclosure or 2 years after filing a Chapter 7 bankruptcy. even with a credit score as low as 600. In addition, through FHA’s Back to Work program, borrowers can qualify even sooner!

    Get Into a Home With Little to NO Down Payment

    Another concern I hear from clients and friends is “what if I don’t have enough money for the down payment and/or closing costs?” This is another very valid concern, and because of new lending guidelines and loan products Home Buyers can now get into a home that they couldn’t before. FHA only requires a 3.5% down payment, which can be gifted from a relative. For a new FHA loan on a $150,000 home that would be a down payment of $5,250, which is much more manageable than the $30,000 required for most new conventional financing. Additionally, some areas qualify for a 0% down loan! As for closing costs, those can actually be included the amount of the loan!

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    Purchasing a Home is Less Expensive Than Renting

    If you were to want an FHA loan, you could get into a $150,000 house for only the $5,250 down payment, with monthly principle and interest payments of approximately $800. Compare what you can rent for $800 a month versus what you could potentially own, and owning a home suddenly becomes far more appealing.

    Call Me Today – Loan Programs Change All The Time

    Of course, the programs discussed above aren’t just for people with damaged credit history. They are designed for first-time home buyers or those who don’t want to put down a huge down payment. Not only do I have these two loan programs mentioned, but I am granted access to new loan products all the time! If after talking with me you cannot qualify just yet, Capstone Mortgage Co. offers some credit repair coaching to help bring up your scores and ensure you can qualify at the lowest rate available. If you would like to be contacted by my lending team, simply fill out the contact box below and we will contact you immediately!

    When you’re ready to buy your home here in Greater Phoenix, our experience real estate team is ready to help. Contact the Daniel Montez Real Estate Group today at (480) 269-6060 and we’ll invite you in for a consultation where you can share the specifics of what you’re looking for in a home and your timeline for selling. We look forward to meeting you and showing you why dozens of clients have trusted us with purchasing their new home!

    Your Mortgage Consultant:


    Wyatt Lupton, Loan OfficerSe Habla Espanol!
    Capstone Mortgage Co. NMLS#1003551/MBL#0914076
    6900 E Camelback Rd Ste 570, Scottsdale AZ 85251
    Cell Phone: (970) 769-4045
    Office: (480) 939-3090

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