Mortgage

Questions about our purchase and refinance mortgage programs

• How do I calculate refinance mortgage fees and savings?
• What is borrower-paid mortgage insurance (BPMI)?
• How do I unfreeze my credit with the credit bureaus?
• How does CapCenter's 1% Listing Fee bundle work?
• How do I lock in my rate?
• I was already preapproved by another lender, should I get pre-approved by CapCenter too?
• What is a VA mortgage?
• How does no closing costs relate to APR?
• What is mortgage insurance?
• How long does the refinance process take?
• What is an adjustable rate mortgage?
• Why should I not use APR to shop for a mortgage?
• Is it necessary to get pre-approved by a lender before I begin the home search?
• Who pays closing costs?
• I've heard that CapCenter is a one-stop-shop. What does that mean?
• What are terms and phrases used in the mortgage industry?
• What forms of documentation will I need to provide after applying?
• What is a soft credit pull vs. a hard credit pull?
• What is an appraisal?
• What is Conventional 97 (Fannie 97, Freddie 97) Mortgage?
• What is a good interest rate on a mortgage?
• How do I get in touch with my loan officer?
• Who is the number one mortgage lender in Richmond, Virginia?
• How do I choose a mortgage lender?
• How can I expedite the mortgage application process?
• When is the best time to apply for a mortgage?
• What are mortgage points?
• What is the difference between interest rate and APR?
• Will a pre-approval credit inquiry hurt my credit score?
• What are mortgage rates?
• What is Freddie Mac's AMI for my area?
• I am a first-time home buyer. What is the first step?
• When is a 7/6 ARM loan advantageous?
• What are the loan limits?
• What can I do to improve my credit score?
• Can I use my 401(k) funds to buy a house?
• Can I get a loan for an investment property through CapCenter?
• When will my first payment be due?
• What are today's rates?
• Do you refinance condos, second homes, townhomes, land, boats, cars, manufactured homes?
• How long does the pre-approval process take?
• How much mortgage can I afford?
• What is a conventional loan?
• What is the CapCenter 1% Rate Reduction Program?
• Does CapCenter offer floating rate locks?
• Do I need to pay mortgage insurance?
• Can everything be done electronically?
• How have CapCenter’s closing procedures changed in light of COVID-19?