An increased resurgence in North Carolina housing has been an encouraging sign for Capital City Home Loans, who has opened a new branch location in Wilmington. Along with a successful branch in Charlotte, Capital City Home Loans is leading the efforts in these thriving markets to offer an extensive menu of loan products and services.
Following the economic housing crisis of 2008, Wilmington experienced slow resurgence in the area, but is on the rebound. Over the next five years, this port city is ranked among the best markets in the country for projected growth. Home prices are still down nearly 20% since their peak in 2007, which is encouraging people to build and buy.
“North Carolina has always exceeded Capital City Home Loans’s expectations, and we are thrilled to add Wilmington to the team,” says Alex Koutouzis, President and Managing Partner. “Our exceptional team in the Wilmington office allows us to confidently expand our reach in a market that has seen tremendous growth in the last couple of years.”
Capital City Home Loans has extensive experience in the homebuilding market. Most impressively, the company has long standing relationships with dozens of builders and realtors throughout the Southeast region. According to Metrostudy News, Wilmington’s home prices have continued to increase, averaging $135 per square foot. With the growth in home prices over the past year, there are expectations that new home construction activity will continue to grow over the next few quarters, making it easier for first time homebuyers to enter the market.
The talent from the Wilmington mortgage team will enable homebuilders and homebuyers to utilize the long list of lending products available, including construction permanent, VA loans, doctor and dentist loans, extended rate locks, first-time homebuyer loans, self-employment loans, in-house niche and portfolio products, to name a few.
In addition, Capital City Home Loans has 24 additional branch locations throughout Alabama, the Carolinas, Georgia, Florida, Tennessee, and Virginia. Homeowners and buyers in the Wilmington metro area and beyond are encouraged to call Branch Managers Wendy Mitchell (910) 232-4164 and John Friend (910) 264-3054 or visit the Capital City Home Loans office at 400 Carl St., Ste. 102, Wilmington, NC 28403.
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