Capital Mortgage Services

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Capital Mortgage Services
4212 50th Street
Lubbock, Texas 79413
Toll Free: 800-613-4408
Phone: 806-796-7231
Fax: 806-791-5403

From its humble beginning in 1986, Linda and Royce Lewis have carefully nurtured Capital Mortgage Services, home of the Mortgage Banking Professionals, to ever increasing heights in the mortgage banking industry. Constantly maintaining its position on the "cutting edge" of mortgage banking concepts and technology, the Lewis' bring a new era of mortgage banking to clients and patrons of the firm.
The Company's carefully assembled staff of professional mortgage bankers stands ready to assist homeowners and real estate professionals to achieve their desired financing at highly competitive rates and terms, with care and service second to none.

The highlight of our recent innovations in mortgage banking is Credit Freedom – a mortgage loan program available exclusively from Capital Mortgage Services which allows individuals with unusual credit conditions access to mortgage financing. This program has been very well received by clients, and many have taken advantage of the financing benefits available.

At Capital we don’t ever expect a loan to fail. Since we began our Credit Freedom program in May of 1996, we have been able to offer a loan proposal to every applicant. The program has helped a lot of people, and we get great satisfaction from helping families achieve their dream of home ownership.

The specialty programs of Credit Freedom are tools buyers can use to gain access to home ownership now, despite their current credit problems. The ultimate goal, of course, is to refinance the mortgage into the A-credit market, where the homeowner will enjoy a good market rate on a fixed-rate mortgage.

With the Credit Freedom loans, we have identified the credit issues which kept the buyer from qualifying for agency approval and addressed those problems. It is always our intent to refinance the loan in the agency market when the credit issues have been cleared up. Credit Freedom acts as a conduit into the A-credit market.

Several unique programs are available under the umbrella of Credit Freedom, including:

CREDIT PROBLEMS – The Credit Freedom program is designed to assist borrowers with challenging credit issues either in their recent past or ongoing. A variety of credit grades are available to such persons for mortgage financing, depending on current credit and the nature and severity of credit problems. Following negotiations with key investors, mortgage programs are in place at Capital to allow mortgage approval for borrowers with less than perfect credit, generally at larger loan amounts with greater loan value.

FORECLOSURE – For homeowners facing foreclosure, Capital Mortgage Services is able to offer refinance of a current home mortgage even though the mortgage loan may be in default and the real estate which secures the loan may be pending foreclosure. If the property has as much as 40 percent equity (a loan balance of no more than 60 percent of the value of the property based on Capital Mortgage’s current appraisal), Capital can, more than likely, refinance the present mortgage. By using the innovative Credit Freedom program, homeowners can save their homes from foreclosure, potentially with little cash for closing costs as these can be rolled into the refinanced package.

For more information about any of the mortgage programs discussed here, please contact us. Our skilled staff will be happy to answer your questions, as well as counsel you on credit criteria, pricing and other qualifying considerations. Of course, Capital Mortgage Services continues to serve the A-grade mortgage clients as a primary market.

© Copyright 2006 Capital Mortgage Services. All Rights Reserved.