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Capwest Mortgage Complaints & Reviews

Capwest Mortgage / Mortgage Scam

Te
Nov 5, 2011

Two months after we furnished CapWest with all of the information the loan officer said they needed, the loan was still in process and he asked for more documents. Then the loan officer said that we would have to pay an extra half point because the loan to value exceed 60%. CapWest mortgage had ordered an appraisal that came in about 50% below market. The comps used were not even in the city in which I live, which is a city of 125, 000 with plenty of realty transactions. I would not recommend them to anyone.

Capwest Mortgage - California, Napa / low appraisal

Dr
Sep 14, 2011

I was offered a 4.25 rate for a 30-year fixed refi (good credit). I paid $475 for an appraisal, and submitted all of the paperwork online. Appraiser came and went, and his report pegged my house at over $100k LESS than the lowest end of the Zestimate on Zillow. I live in Napa, California, in a decent, middle-class neighborhood. My across-the-street neighbor, whose house is 50% smaller than mine, came in at 75k HIGHER than my appraisal. I smell a rat. Capwest definitely got a cut of the appraisal fee, all for a 20-minute phonecall. Beware of the teaser rate. I don't believe they ever intended to go through with the loan.

Capwest Mortgage / Mortgage Fraud

Ja
Feb 17, 2011

Beware of Capwest. They cheated me out of $475 and they will cheat you. The online mortgage business is a scam. They tease you by offering low interest rates. They appraised my property and used false information. The appraiser used photos from the mls instead of inspecting other comparables. They will not let you rebut the appraiser. They told me how great and honest they are since they are backed by Farmers bank. They are rated A+ by the BBB which is totally biased and dishonest because they pay the BBB. Appraisers bid on the appraisal job, I have been told they pay an appraiser $75 to 125...

Capwest Mortgage - Kansas, Overland Park / Horrible Service

Sh

I was approved for a loan from Capwest with a 60 day lock. I submitted scads of data at their request within 20 days. The appraisal came in at a ridiculous amount. I had to send them comps from a local realtor and they adjusted the appraisal based on the comps. In fact, they doubled the value the appraiser had estimated. Then I waited and waited and waited. I called periodically to check on the status and never received a call back. After three weeks they lamely asked for a copy of a document I had already sent them. Then another three weeks went by. I told them I was concerned about the loan...

Capwest Mortgage - New Jersey, Budd Lake / appraisal fraud

Jo

Applied for a refinance with CapWest Mortgage out of Kansas. Horrible ordeal with loan officer, charged 375.00 home appraisal fee to my credit card without doing the comps in my area. Appraisal came in way low to get the refinance. They tried to sell me a FHA loan with 7000.00 in point fee's plus closing costs. Disputing the Appraisal Fee with Credit Card company. Will never apply for any loan with CapWest Mortgage submitted 10/23/09