Approval Process

The approval process is quite simple here at Capital Mortgage Finance Corp. We first take a phone application, which takes approximately 20-30 minutes. Once we have your information in our system we submit it through an automated underwriter, or a database that will evaluate the information submitted and give us an answer in order to determine whether or not you are approved. The whole process takes no more than 24 to 48 hours. You will know at this point what you are approved for and exactly what information is necessary to document the loan.

If the phone application is not convenient for you, please feel free to fill out the online application.

At a later date and time we will meet with you to sign the loan application, get copies of the necessary documents, and go over the parameters of the loan.

The following is a list of the what information I will cover during the phone application, so it is a good idea to have all essential documents in hand prior to starting the phone application so as to accomplish it quickly and thoroughly.

1. Social Security Numbers of all borrowers
2. Property Information (current address for the last 2 years)
3. Sales Price and desired Loan Amounts
4. Employer's Name and full street address with phone numbers for the past 2 years.
5. Monthly Income for all parties (Base, Overtime, Bonuses, Commission, Dividends, Rent Monies, etc.), (Salary or hourly base rates. If receiving overtime, bonuses or commission please have a W2 and paystub handy.)
6. All Asset Information (Bank names, balances for all savings, checking, and money market accounts, any 401K or retirement account information, stocks or bonds value, automobiles (year, make and model), and any other assets such as personal property, boats, motorcycles, etc.)
7. All Liability Information (Creditor names, balances, monthly payment for any loan and any credit cards that maintain a monthly balance, any alimony or child support if warranted, and any job related expenses)
8. Addresses for any real estate owned, market values for each, and monthly mortgage payments. If investment properties, then the rental income obtained for each property is required as well.
10. If the seller is contributing anything towards closing costs I also need to know how much.