Residential

​Loans

Home Ownership is HERE!
Gold Key Capital Has the Ultimate Solution
New Construction, Existing Home, Second Home, Land & Unit... you truly unlock the impossible with Gold Key Capital and here is how we make this possible:

How Gold Key Qualifies Applicants

Expected Timeline

Gold Key Capital uses more than just a “number” when qualifying applicants for a home loan.  First, we review your income, job history and rental history.  This helps us determine “how much” of a home you can afford...responsibly.  We then review your credit to ensure there are no open bankruptcies.  If there are any tax liens or government mandated payments such as child support, alimony, or IRS balances, there must be a payment plan IN PLACE and up-to-date with remittance.  Active garnishments MUST be completed in order to apply.  Past foreclosures are NOT a factor if the income is solid for two consecutive years.
We advise all applicants to pre-qualify BEFORE shopping.  Our underwriting guidelines are somewhat different than traditional mortgages.  You will know exactly how much you can afford and how much your home should cost based on those numbers.  

Be advised we can also handle refinancing and foreclosure prevention within our program.  Be sure to sign up for a webinar explaining the many benefits of our Residential Loan program and how to begin the process immediately!

Overall Process & Qualifying Guideline 

  1. Pre-determine Your Ability to Qualify
    If you have an open bankruptcy or active garnishment, you will not qualify. Child support and IRS balances must have an active and current payment plan in place that can be verified. All applicants whose income will be considered for the loan MUST follow these same guidelines.
  2. Income Verification
    We will need the last three check stubs from your job. If you are self-employed and do not pay yourself with a check, we need the last year’s tax returns and last three months bank statements. Those who receive W2 Forms and/or 1099, May be asked to provide the past year’s tax returns as well. We also accept bank statements showing a deposit of funds going into an active checking account. (Pre-Paid debit cards are accepted only with an active bank or credit union account).
  3. Down Payment
    Down Payments MUST be made in order to participate. WE DO NOT accept land or other property for the required amount. 5-10% of the home is the average needed. We require proof of funds at 5%. This can be a snapshot of a bank statement or other bank account. If borrowing, the source will need to verify this with documented proof. A pre-qualify letter will not generate if there are no proof of funds and we’re not obligated to verify verbally. Your loan will be listed as “pending”.
  4. 3-in-1 Credit Report
    We require a full credit report for all applicants. This can be obtained through various sources provided within the application. Any credit report less than thirty days old IS ACCEPTED.
  5. What is Needed to Apply?
    In order to apply, you will need proof of down payment to complete the application. If you have the past two years tax returns, last three check stubs, and a recent credit report, you will have the ability to upload the files and move much faster through the process.
  6. Final Steps - Approved or Conditional Approval
    Once we have all components in place, within 24-48 hours, you will receive an approval or denial based on the information submitted along with a dollar amount. Our processors will reach out to you for clarification if needed. A thorough breakdown is provided. Conditional approvals require applicants to review and agree to make the necessary conditions prior to the final approval rendered. BE ADVISED, THE APPROVAL IS VALID FOR 30 DAYS. This time period is designated for applicants to locate property, meet all conditions, and work with realtors. Upon expiration, we will review your application and determine if an extension is valid or cancellation necessary. BE ADVISED, if your approval is cancelled, you cannot reapply for the next 90 days.

Pre​​-Qualify ​ NOW

Expected Interest Rates

In most cases, we use a blanket method in our rates determination.  All loans are based at 20% down; however, we require the following upfront:

5% Down Payment, Interest is 8.5% and 10% Down Payment is at 7% Interest.  We advise borrowers to refinance their homes within 24-48 months of ownership.

Gold Key Capital offers 30 Year Amortized Loans.  15 and 20 Year fixed are available as well.

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Key Account Managers are available to accept your call from 9am - 6pm EST.