State Capital Mortgage Mission Statement
Our mission is to secure the best interest rate, cost and service possible to purchase or refinance your home in today’s market. Trying to find the right lender through thousands of websites can be extremely overwhelming, but our system is designed to be user friendly and quite simple to use. The bottom line, you want to know quickly what you’re paying.
Just use our QUICKGFE link, insert some quick information, press enter and you’ll receive a Good Faith Estimate, or “GFE,” within seconds. This GFE is a close indication on what to expect in fees charged by State Capital Mortgage. If you have any questions or need a better understanding of the GFE, just go to our “What’s a GFE” link for a detailed explanation.
Once using our System, you’ll find that our rates and fees will be hard to match, whether you’re applying with a Mortgage Banker or Broker; and we do encourage you to “shop us”, a term this industry does not like. Our rates and costs are very competitive for this industry. By eliminating the middleman fee, we can provide you with lower rates and closing costs, this will allow you to have a much larger loan amount with a lower payment, and that’s our promise to you! To have a more of an understanding of a Mortgage Banker or Broker, go to our Nevada State Broker Link.
We did our homework, we have found the very best wholesale rate that this country has to offer. Our Broker paid compensation is 2% between 2.5% over the wholesale rate for most of our loans products with zero origination fees, so our rates and cost stay very competitive. This retail cost is typically 2% between 4% over the wholesale rate for most retail lenders. This compensation is paid by the wholesale lender to the Banker or Broker either by increasing the rate or a borrower paid option to provide the borrower with a lower rate. Fees paid to the Banker or Broker is a combination of the compensation paid by the Wholesale Lender and additional application fees charged either by the Banker or Broker. So it’s best to get a Good Faith Estimate upfront before moving forward with your choice of lender.
Once you go through the GFE stage, if you wish to continue, you’ll go to the next step which is submitting some minor information. Once submitting your information, we’ll have a representative contact you within 24 to 72 hours to further the loan application process. After being pre-qualified, a formal loan application with disclosures will be sent to you either by via Email for eSignature, or mailed to your home address for your wet signature by US postal delivery, whichever is more convenient for you.
To move forward, you’ll need to review, then sign the application with disclosures and return with all the necessary financial documents, a checklist will be provided. A representative will keep you informed on all necessary documents that you’ll need to continue. The total loan application process will normally take about 3 to 8 weeks, depending on your situation.
We’ll keep you updated under our market update link whether to lock your rate or float. This link will keep you informed on today’s bond market and give you the edge whether to lock or to float your interest rate. Thank you so much for choosing State Capital Mortgage in processing your loan application and we look forward to assisting you in all your needs in the home mortgage financing industry.
