John Madden, Mortgage Broker — Newtown, Bucks County, Pennsylvania
Helping homebuyers throughout Pennsylvania and New Jersey since 1999
Buying a home is one of the largest financial decisions most people make. The mortgage you choose can affect not only your monthly payment, but also the amount of cash you need at closing, how quickly you build equity, and the total interest you pay over time.
At Capital Funding Mortgage, we help homebuyers compare mortgage options from multiple lenders so they can make an informed decision based on their individual financial situation and long-term goals.
Whether you are buying your first home, moving to a larger property, purchasing a second home, or relocating within Pennsylvania or New Jersey, our goal is to make the mortgage process understandable from the beginning.
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A home purchase should not begin with the question:
“What is the lowest mortgage rate?”
A better question is:
“Which mortgage structure makes the most sense for my purchase and financial goals?”
Interest rate is important, but it is only one part of the decision.
A proper mortgage comparison should consider:
Our job is to help you understand the differences so you can choose the financing option that fits your situation.
A mortgage pre-approval is one of the most important steps you can take before making an offer on a home.
A strong pre-approval helps you understand:
It also allows you to present an offer with financing already reviewed rather than beginning the mortgage process after you find a property.
In competitive housing markets, being properly pre-approved can be particularly important.
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There is no single mortgage program that is best for every homebuyer.
The appropriate loan depends on your credit profile, down payment, property type, income, available assets and long-term plans.
Depending on your qualifications and the property being purchased, available options may include:
Because Capital Funding Mortgage works with multiple wholesale mortgage lenders, we can compare available programs rather than being limited to the products of a single bank.
Many homebuyers assume that a 20% down payment is required.
It often is not.
Depending on the mortgage program and borrower qualifications, financing may be available with a substantially smaller down payment.
The right down payment is not necessarily the largest amount you can afford.
You should also consider how much money you want to retain after closing for:
Putting more money down may reduce the loan amount and monthly payment, but using nearly all of your available cash to purchase the home is not always the best financial decision.
We can compare different down-payment scenarios so you can see how each one affects your payment, mortgage insurance and cash required at closing.
In addition to your down payment, a home purchase generally involves closing costs and prepaid expenses.
Closing costs may include items such as:
You may also need funds for prepaid expenses and escrow accounts, including:
These items should be clearly separated when evaluating a mortgage proposal.
Closing costs are not the same thing as your total cash required at settlement.
We will help you understand the difference before you make a final financing decision.
Your total cash to close may consist of several different components:
Down payment
The portion of the purchase price you are paying from your own funds.
Closing costs
Charges associated with obtaining the mortgage and completing the real-estate transaction.
Prepaid expenses
Items such as prepaid interest and homeowners insurance.
Escrow deposits
Initial funds collected for future property-tax and insurance payments when an escrow account is required or selected.
Your purchase contract may also include credits from the seller or other adjustments that affect the final amount due.
We can provide estimates early in the process so that you understand approximately how much money you should have available before you move forward.
Mortgage points allow a borrower to pay additional money at closing in exchange for a lower interest rate.
Sometimes paying points makes sense.
Sometimes it does not.
The answer depends largely on:
We believe mortgage pricing should be compared using both the interest rate and the cost required to obtain that rate.
A rate that appears lower is not automatically the better financial choice.
Once your agreement of sale is accepted, the mortgage process moves quickly.
Typical steps include:
We remain involved throughout the process so you understand what is happening and what is required next.
Our goal is to identify potential issues early rather than waiting until the final days before closing.
Buying your first home can seem complicated because you are dealing with several processes at the same time.
You may be working with:
Your mortgage financing should be one of the areas you understand clearly.
We will explain:
You should never feel as though you are expected to understand the mortgage process before asking questions.
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Your complete monthly housing expense may include more than the mortgage principal and interest payment.
Depending on the property and loan structure, the payment may also include:
When comparing homes, it is important to look at the total monthly housing expense, not simply the mortgage payment shown by an online calculator.
Two similarly priced homes can have substantially different monthly costs because of taxes, insurance or association fees.
A pre-approval does more than tell you how much you may be able to borrow.
It can also allow potential financing issues to be addressed before you are under contract.
For example, we may be able to identify questions involving:
Solving these issues early can help make the process much smoother once you have an accepted agreement of sale.
Not every homebuyer fits neatly into a standard lending profile.
We regularly work with borrowers who have more complicated financial situations, including:
These situations often require more careful review before determining the appropriate loan structure.
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At Capital Funding Mortgage, we believe borrowers should understand their mortgage options before choosing one.
Rather than simply presenting an interest rate, we can help compare factors such as:
Rate + Closing Costs + Payment + Down Payment + Mortgage Insurance + Loan Term + Long-Term Interest Cost
The lowest advertised rate does not necessarily produce the best overall mortgage.
Our goal is to help you evaluate the complete transaction.
Capital Funding Mortgage is an independent mortgage broker serving borrowers throughout Pennsylvania and New Jersey.
Working with multiple wholesale mortgage lenders allows us to compare programs and pricing rather than being limited to one institution's mortgage products.
We are located in Newtown, Bucks County, Pennsylvania and understand the local home-buying and mortgage process.
We also serve borrowers throughout Pennsylvania and New Jersey.
Mortgage guidelines, property values, interest-rate environments and lending programs continually change.
Experience matters when a transaction does not proceed exactly as expected.
Our focus is not simply obtaining an approval. It is helping borrowers structure financing appropriately and move toward closing with as few surprises as possible.
Mortgage transactions involve many moving parts.
We believe borrowers should know:
Whether you are purchasing a home in Bucks County, the Philadelphia suburbs, the Pittsburgh area, elsewhere in Pennsylvania, or in New Jersey, Capital Funding Mortgage can help you evaluate your financing options.
We work with:
Our objective is the same in every transaction:
Help you understand the financing before you commit to it.
If you are planning to purchase a home, the best time to review your mortgage options is before you make an offer.
We can help you determine:
There is no reason to wait until you have already found a property to begin understanding your financing.
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Mortgage approvals and available loan programs are subject to borrower qualification, property eligibility, lender guidelines and applicable underwriting requirements.
