Capital One Home Loans Review

Overall 2.50 of 5 view all 6 reviews

User25
National City, CA

Capital One, "Time is of the essence" in real estate.

practical

APR

2008

Follow-up. Capital One should stick to auto loans and credit cards. I have one of each with them and they're great. Because in those businesses, a missed credit card payment means a mere surcharge. And a missed auto loan check means the buyer will wait a few more days before driving off in a new vehicle. However, in the home mortgage business, a missed deadline means movers / shippers need to be rescheduled at great cost, and the buyer's life is suddenly ground to a halt without a place to move into. Capital One Home Mortgage, this has been a trainwreck. As I predicted in my previous review, Capital One Home Mortgage was days away from missing escrow closing date. Today is the escrow closing date, and I have no keys in my hand. To my surprise, I explained to the Capital One Home Mortgage loan consultant that they were going to miss the escrow close date, and yet each time their loan consultant replied something to the effect of, "No, no, we're still steaming full speed ahead with the intent to close on the 30th". That was on the 29th by the way, and they still hadn't received the appraisal yet from the 2nd appraisal they ordered for the weekend. The usual advice is to never trust a loan consultant, and that is good advice. Why is it that the same voicemail for the same person answers every time I call Capital One Home Mortgage's number? I know they have more than one home loan consultant. Fire my current one and put someone in charge who knows how to handle real estate. For crying out loud I understand these people are based in Kansas and know nothing about a genuine real estate market such as San Diego, but a freakin' deadline is a DEADLINE. You shouldn't be asking me for last minute details the day before closing. Stringing me along to keep my business is simply deception. I'll talk to a real estate attorney.