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How do I qualify for a mortgage?

Lenders typically look at your credit score, income, employment history, debt-to-income ratio, and assets. We will evaluate the information you provide when you apply to establish if you meet specific creditworthiness requirements to be pre-approved and for what amount. If you no longer meet those requirements or if your credit score has recently dropped, you may not be granted credit.

What is a down payment, and how much do I need?

A down payment is the initial amount of money you pay upfront when purchasing a home. The required amount can vary, but it’s often around 20% of the home’s purchase price. Some loan programs allow for lower down payments, but you may need to pay private mortgage insurance (PMI) if your down payment is less than 20%.

What are closing costs, and how much will they be?

Closing costs are fees and expenses you pay when finalizing your mortgage, such as appraisal fees, title insurance, and attorney fees. They typically range from 2% to 5% of the loan amount, but it’s best to request an estimate.

What is the difference between a fixed-rate and adjustable-rate mortgage (ARM)?

A fixed-rate mortgage has a constant interest rate and monthly payments that never change. An adjustable-rate mortgage (ARM) has an interest rate that may fluctuate over time, which can lead to changes in your monthly payments.

How will my interest rate be determined?

Your interest rate will depend on several factors like credit history, income, down payment, loan type, your debt-to-income ratio, property type/location, and the term length. © 2026 New Capital Lending. All Rights Reserved. © 2026 New Capital Lending. All Rights Reserved. The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit.