An in-depth analysis of the lender Foote Capital Mortgage
Looking for a mortgage? There are many options when it comes to choosing the right one for you and your family. One option is Foote Capital Mortgage. But, before committing to a lender or provider, it’s important to know what others are saying about them.
That’s why we made this Foote Capital Mortgage review so you can determine whether or not this is the right option for you. In this article, we will look at Foote Capital Mortgage reviews in-depth, so that you can get an accurate picture of their services, performance, and customer experience.
When it comes to making one of the biggest financial decisions of your life, you want to be sure you’re working with a reputable and reliable lender. Foote Capital Mortgage is a mortgage lender that has been in business since 2001. They are based in Carlisle, Pennsylvania.
Foote Capital Mortgage offers a variety of loan products, including conventional loans, fixed-rate loans, adjustable-rate loans, FHA loans, VA loans, and USDA loans. They also offer a number of mortgage refinancing options.
|Loan Amount||Up to $1,000,000|
|Loan Terms(Years)||10. 15, 20 and 30 year terms|
|Credit Score Range||N/A|
|No Origination Fee||Up to $5,000|
|Mortgage Programs||Conventional, FHA,VA,USDA, ARM, Fixed-rate loan, Refinance loan|
|Employment Statuses Considered||Employed full-time or part time, self-employed.|
|Intended Use||Home purchase, refinancing, investment|
|Joint Loan Applications Accepted||Yes|
|Verification Documents Required||Pay stubs and tax returns|
How Much Money Can You Borrow from Foote Capital Mortgage?
When deciding whether or not to work with a certain mortgage company, the maximum amount you can borrow will play a big part in making a decision.
Foote Capital Mortgage Company allows you to borrow between 80-85% of the appraised value of your home. The minimum loan amount is $10,000 and the maximum loan amount is $1,000,000.
The actual sum you can borrow as well as the interest rate will depend on the type of loan you choose, your credit score, and the current market conditions.
Foote Capital Mortgage Pros & Cons
When it comes to choosing a mortgage company, there are a lot of factors to consider. Foote Capital Mortgage is one option that you may be considering but it’s important to weigh out both pros and cons first.
One of the biggest benefits that working with them provides is that they are accredited by HUD. This is a very good thing. But on the other hand, they are not BBB accredited which can represent a major red flag. Also, they haven’t disclosed anywhere on their website their interest rates.
- HUD accredited
- Possibility for a joint application
- Possibility to get a loan with a bad credit score
- Not BBB accredited
- No interest rates are disclosed on the website
- They have origination fees
What is the Longest Loan Term You May Obtain from Foote Capital Mortgage?
The longest loan term you can obtain when working with Foote Capital Mortgage is 30 years. This is a standard loan term for many lenders, so you should be able to get a more manageable monthly payment.
Although for all those borrowers who don’t want to be committed for such a long time, the lender also offers a 10, 15, or 20-year loan term. While this will make your payments larger, it will also mean you will save money on interest charges.
What Mortgage Rates Do Foote Capital Mortgage Offer?
Foote Capital Mortgage rates are nowhere to be disclosed on their website, which is not a good sign. This means they are not transparent with their clients which can lead to major problems.
With this said, we do advise you to look for a transparent lender before you decide to put your name on the dotted line.
What is the Estimated Funding Time?
The estimated funding time for a Foote Capital Mortgage is typically 10 business days. However, this may vary depending on the type of mortgage and the specific circumstances of the borrower.
For example, if the borrower is self-employed or has a lower credit score, the funding time may be longer.
This is why we suggest you ask about the wait time you can expect once your application is submitted and approved.
Do They Charge Mortgage Origination Fees?
There are a number of different fees that can be charged by mortgage lenders when originating a loan. Some of these fees may be charged directly to the borrower, while others may be just added to the overall loan balance.
Mortgage origination fees are generally either a flat fee or a percentage of the total loan amount. As for Foote Capital Mortgage, they do charge these fees of up to $5,000.
Many lenders will also charge additional fees for things like processing and underwriting, so it’s important to ask about it all before agreeing to any loan.
Does Foote Capital Mortgage Charge Prepayment Fees?
Prepayment fees are charges assessed by a lender when a borrower pays off their loan before the end of the loan term. These fees are typically a percentage of the outstanding loan balance and can add up to a significant amount of money.
Foote Capital Mortgage does not charge prepayment fees on any of its loans. This is good news for borrowers who may need or want to pay off their debt early, as they will not be penalized for doing so.
What Mortgage Programs are Available?
When it comes to the mortgage programs offered by Foote Capital Mortgage, there is plenty to choose from. They offer the following:
- Fixed-rate mortgage
- Adjustable rate mortgage
- FHA loans
- Conventional loans
- VA loans
- USDA loans
What Property Usage Types Does Foote Capital Mortgage Allow?
There is plenty to choose from when it comes to property usage clients can choose from. These include the following:
- Primary homes
- Secondary homes
- Vacation homes
How Do People Rate the Customer Service and User Experience?
Foote Capital Mortgage ratings are surprisingly positive. A lot of clients rate their customer service good and helpful and a lot of clients have an overall positive experience with them.
Still, you shouldn’t overlook the lack of transparency on their website when it comes to their interest rates. This can present major issues down the road.
With that said, if you are interested in working with a good and reliable lender, feel free to contact us. We would gladly help you find a lender that suits you the best.
Contacts of Foote Capital Mortgage
Foote Capital Mortgage only operates in Pennsylvania. With that said, if you are located in Pennsylvania, we will provide you with their contact information. You can reach them via their phone number 717-249-7500 or you can reach them over their website by fulfilling a form.
Their working hours are from Monday-Friday from 8 am to 5 pm. So make sure to reach them during their working time.
Availability of Foote Capital Mortgage
If you’re considering a Foote Capital Mortgage, it’s important to know about their availability. As their website lacks a lot of information we can conclude that they operate exclusively in Pennsylvania.
However, they may offer digital services in some states. This is why it’s always best to check with Foote Capital Mortgage directly to see what options are available in your state before making a decision.
Foote Capital Mortgage Summary
- Foote Capital Mortgage is a mortgage lender based in Carlisle, Pennsylvania.
- They do not have BBB accreditation but are registered in HUD.
- The company offers a wide range of both conventional and government-backed loans.
- We should note that their website lacks a lot of information so in case you want to work with them, we suggest you contact the customer service representative.
FAQs About Loan Company
1. How to Contact Foote Capital Mortgage Company?
Foote Capital Mortgage Company can be contacted by filling out a form on their website or by calling this number 717-249-7500.
2. What Services Does Foote Capital Mortgage Company Offer?
The company offers a variety of mortgage programs for both purchasing and refinancing.
3. How Can I Obtain a Loan at Foote Capital Mortgage Company?
You can obtain a loan from this lender by going directly to their nearest branch or calling on their phone number so they can set up a meeting.