Custom Homes Raleigh NC

Capital Bank Loosens Lending with Great Rates on Jumbo Mortgages

Knocks 2% Off Interest Rates for Homes Over $417,000

Raleigh-based Capital Bank received $43 million in TARP funds, with promises to use that money to loosen lending as intended.

According to this ABC story, Capital Bank has been fulfilling those promises, in particular for homes above the $417,000 cut off for "jumbo" mortgages. 

These aren't just million dollar homes - in Chatham County, for instance, 41% of homes listed for sale were between $400,000 and $799,999, per December 2008 reports.  Similar totals can be seen in Chapel Hill, Cary, and North Raleigh. 

Jumbo mortgages usually have much higher interest rates.  But Capital Bank is working to reduce interest rates on these loans for qualified buyers, using their TARP money to do so.  One example given was a 5.5% interest rate in place of the 7-8% common on these types of loans.  They also have plans for other types of loans, but have not shared details yet.

Capital Bank has 32 local Triangle area branches, and was founded in 1997.  They recently announced hiring to help with the increased business generated from the TARP funds. 

As always, check with your lender or mortgage broker for full information about any type of lending!

 

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RELOCATING TO THE TRIANGLE? Have you thought about where you'll be banking? 

When we first moved to the area, my husband and I didn't even think about needing to switch banks. But, once we realized that our current bank wasn't located in Raleigh, we started looking for a new bank.  We had no idea what banks were available or how many branches each of the banks had - we just knew that we couldn't deposit a paycheck or write a check until we set up an account with a local bank! 

If you're relocating to the Triangle, here's a guide to local banks, along with where they are headquartered, how many branches they have, and some features of each.  This information is geared to the Wake and Johnston county areas, specifically to the towns of Raleigh, Clayton, Knightdale and Wendell, as well as the neighboring communites of Eagle Rock, Wilders Grove, Shotwell, and Auburn.  

Bank of America

I think everyone knows BofA - one of the largest US banks.  If you're already with them, chances are you're going to relocate without switching banks - congratulations!  What I didn't know was that Bank of America is headquartered in Charlotte, NC.  There are more than 10 branches in Raleigh and one branch in Clayton.  If you're interested in a career with Bank of America, click here.

 

Capital Bank - Raleigh

Capital Bank is a "younger" North Carolina bank, but has been making a name for itself.  If you're building a custom home and need a construction loan, contact Capital Bank - but they also do plenty with personal finance.  There are about 5 branches in Raleigh.  If you're looking for a position with a growing bank, click here.

 

Suntrust Bank - Raleigh

Headquartered in Atlanta, GA, Suntrust bank offers nearly 1700 retail branches throughout the SouthEast.  Open a new account by the end of March, and Suntrust will donate $100 to a charity of your choice (or give you a $50 gift card).  With 15 locations in Raleigh there are plenty of branches.  And if you're looking to relocate and need to find a new banking position, click here.   

 

BB&T Bank

BB&T is one of the largest banks in the Carolinas, with a huge tower in downtown Raleigh, and over 100 years of North Carolina experience.  BB&T Bank operates about 1500 branches in 11 states and Washington DC, and has 29,000 employees.  One of the perks they offer customers is a "points" system when using your debit/check card.  One location in Clayton and about 15 in Raleigh.  For career opportunities, click here.

 

First Citizens Bank

Founded in 1898 in Johnston County, NC, First Citizens Bank has grown to cover 200 cities in North Carolina, Virginia, West Virginia, Tennessee, and Maryland.  Their subsidiary, IronStone Bank, has branches in another 9 states.  First Citizens Bank also offers free checking, free bill pay, and free online banking.  First Citizens does offer construction loans as well.  There is one location in Wendell, two in Clayton and more than 15 in Raleigh.  If you're relocating and looking for a bank position, click here.

 

 

Wachovia Corporation

Wachovia is the result of the joining of two original North Carolina banks, both founded in the 1800s.  Now ranked #4 in the US based on total assets, Wachovia offers banking throughout about half of the US.  Free checking is offered - but be careful, they do charge a fee to download to Quicken.  There is one branch in Wendell, one in Clayton and over 20 branches in Raleigh.  If you're looking for a career, click here. 

KS Bank

Locally owned and operated, KS Bank opened in 1924 and has been FDIC insured since 1961. If you are looking for a bank that offers personal service when you walk in as well as online banking as free bill pay, KS Bank can help you. If you need a mortgage, construction business or consumer loan, KS Bank offers them all. With eight locations total, there is one branch in Clayton and one in Wendell. For career opportunities click here.

 

 

Crescent State Bank

A smaller local bank, Crescent State Bank is a subsidiary owned by Crescent Financial Corporation. When Crescent opened December 1998 there was only one office and 11 employees, there are now 12 locations and more than 130 employees. They offer free checking and free online services as well as personal, mortgage and auto loans. If you are interested in a career in a growing community bank, click here.

 

 

 

RBC Centura

Based in Raleigh, NC and ranked one of the largest five banks in the state, RBC Centura is part of one of the largest financial service companies in North America. They offer free checking and have a pocket check visa debit card program for your purchases. With more than 335 branches in the southeastern states, there are 20 locations in Raleigh and one in Clayton. It is also one of the top employers in North Carolina with more than 4700 employees. If you are interested in career opportunities with RBC, click here.

I'm sure I've missed a couple of terrific banks.  If you don't see your favorite here, let me know, and I'll add it!

And if you're relocating and looking for a new banking position, be sure to check out the career links - some of these positions never make it to Jobs.com.

 

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Relocating to the Triangle? Have you thought about where you'll be banking? 

One of the first things my husband and I had to do when we moved to the Raleigh area was find a new bank.  We had no idea what banks were available or how many branches each of the banks had - we just knew that we couldn't deposit a paycheck or write a check until we set up an account with a local bank! 

If you're relocating to the Triangle, here's a guide to local banks, along with where they are headquartered, how many branches they have, and some features of each.  This information is geared to the Chatham and Orange county areas, specifically to the towns of Pittsboro, Carrboro, and Chapel Hill, as well as communities like Silk Hope, Eli Whitney, Jordan Lake, and Farrington. 

Bank of America - 

I think everyone knows BofA - one of the largest US banks.  If you're already with them, chances are you're going to relocate without switching banks - congratulations!  What I didn't know was that Bank of America is headquartered in Charlotte, NC.  There are 4 branches in Carrboro and Chapel Hill, and over 30 branches in the Triangle Area.  If you're interested in a career with Bank of America, click here.

Capital Bank -

Capital Bank is a "younger" North Carolina bank, but has been making a name for itself.  If you're building a custom home and need a construction loan, contact Capital Bank - but they also do plenty with personal finance.  There are about 10 branches in the Triangle, including one in Pittsboro.  If you're looking for a position with a growing bank, click here.

Suntrust Bank -

Headquartered in Atlanta, GA, Suntrust bank offers nearly 1700 retail branches throughout the SouthEast.  Open a new account by the end of March, and Suntrust will donate $100 to a charity of your choice (or give you a $50 gift card).  With 5 locations in Pittsboro, 2 in Carrboro, and 11 in Chapel Hill, there are plenty of branches.  And if you're looking to relocate and need to find a new banking position, click here.   

BB&T Bank

BB&T is one of the largest banks in the Carolinas, with a huge tower in downtown Raleigh, and over 100 years of North Carolina experience.  BB&T Bank operates about 1500 branches in 11 states and Washington DC, and has 29,000 employees.  One of the perks they offer customers is a "points" system when using your debit/check card.  Two locations in Chapel Hill and about 25 in the Triangle.  For career opportunities, click here.

First Bank

With free checking, free online banking, and free bill pay, First Bank has a popular following.  First Bank even offers a Relocation Package that includes area information as well as details about construction loans, mortgage loans, and more.  First Bank began in 1935 in Troy, NC, and now has 63 branches in North Carolina.  There's a branch in Pittsboro and 10 more in the Triangle area. 

First Citizens Bank

Founded in 1898 in Johnston County, NC, First Citizens Bank has grown to cover 200 cities in North Carolina, Virginia, West Virginia, Tennessee, and Maryland.  Their subsidiary, IronStone Bank, has branches in another 9 states.  First Citizens Bank also offers free checking, free bill pay, and free online banking.  First Citizens does offer construction loans as well.  There are 5 locations in Chapel Hill, and over 40 throughout the Triangle.  If you're relocating and looking for a bank position, click here.

Harrington Bank

While still small, Harrington Bank has set itself apart in the customer service arena.  Customers are offered gourmet coffee, soft drinks, and cookies, along with the Wall Street Journal and a variety of newspapers, for the unlikely event that a wait is necessary.  Construction loans are offered.  A loyal group of Chapel Hillians swear by this bank, even though currently there are just four locations - three in Chapel Hill and one in Raleigh.  Looking for a career?  Click here - Harrington Bank is based in Chapel Hill.

 

 

Wachovia Corporation

Wachovia is the result of the joining of two original North Carolina banks, both founded in the 1800s.  Now ranked #4 in the US based on total assets, Wachovia offers banking throughout about half of the US.  Free checking is offered - but be careful, they do charge a fee to download to Quicken.  There are five Chapel Hill locations, and over 40 locations throughout the Triangle.  If you're looking for a career, click here. 

I'm sure I've missed a couple of terrific banks.  If you don't see your favorite here, let me know, and I'll add it!

And if you're relocating and looking for a new banking position, be sure to check out the career links - some of these positions never make it to Jobs.com.

 

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