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TODAY'S RATES
June. 1, 2017
Loans up to $417,000

RATES SUBJECT
TO CHANGE AT
ANY TIME

Fixed Rate Options

Term 30 Years
Rate 4.125%
APR 4.191065%
Points 0

Example: Monthly principal and interest payments on a loan amount of $150,000 for 30 years at the above rate would be $726.98

Term 15 Years
Rate 3.5%
APR 3.616%
Points 0

Example: Monthly principal and interest payments on a loan amount of $150,000 for 15 years at the above rate would be $1,072.33



Adjustable Rate Options

We offer a variety of Adjustable Rate terms.  Please call for current rates on these products.
RATES SUBJECT
TO CHANGE AT ANY
TIME

RATES QUOTED ABOVE ARE FOR PURCHASE MONEY,OWNER OCCUPIED, 30 DAY LOCKS, AND A MINIMUM LOAN AMOUNT OF $100,000

APR'S ARE BASED ON A LOAN AMOUNT OF $150,000.00 AT AN 80% LOAN TO VALUE RATIO AND PREPAID FINANCE CHARGES OF $1.181.00.

1. How do I know how much house I can afford? Answer
2. What is the difference between a fixed-rate loan and an adjustable-rate loan? Answer
3. How much cash will I need to purchase a home? Answer
4. How do I know which type of mortgage is best for me? Answer
5. What does my mortgage payment include? Answer
6. How is an index and margin used in an ARM? Answer
7. What documents are needed to process my loan request? Answer
8. How long will it take to get an approval? Answer

Q : How do I know how much house I can afford?
A : Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Try our online Calculators or give us a call, and we can help you determine exactly how much you can afford.
 
Q : What is the difference between a fixed-rate loan and an adjustable-rate loan?
A : With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
 
Q : How much cash will I need to purchase a home?
A : The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
  • Earnest Money: The deposit that is supplied when you make an offer on the house
  • Down Payment: A percentage of the cost of the home that is due at settlement
  • Closing Costs: Costs associated with processing paperwork to purchase or refinance a house
  •  
    Q : How do I know which type of mortgage is best for me?
    A : There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial situation and how long you intend to keep your house. Our mortgage experts at Capital City Bank can help you evaluate your choices and help you make the most appropriate decision.
     
    Q : What does my mortgage payment include?
    A : For most homeowners, the monthly mortgage payments include three separate parts:
  • Principal: Repayment on the amount borrowed
  • Interest: Payment to the lender for the amount borrowed
  • Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.
  •  
    Q : How is an index and margin used in an ARM?
    A : An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
     
    Q : What documents are needed to process my loan request?
    A : For each borrower you should have your last two paystubs, your last years W-2 forms and your last bank statement.
    If you are self employed you should submit complete copies of your federal income tax returns for the last two years for yourself and your business.
     
    Q : How long will it take to get an approval?
    A : Generally a conditional commitment letter along with all required disclosures will be mailed within 24 hours, or on the next business day, after you apply.