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The good, the bad, and the ugly - discover what customers are saying about Capwest Mortgage

Welcome to our customer reviews and complaints page for Capwest Mortgage. We understand that making informed decisions about where to invest your time and money can be challenging, which is why we've created this platform for our community to share their honest feedback about their experiences with Capwest Mortgage.

On this page, you'll find a comprehensive collection of reviews and complaints from real customers who have used Capwest Mortgage's products or services. Our reviews are authentic and unbiased, providing you with a complete picture of the company, its products or services, and their customer service.

Whether you're considering doing business with Capwest Mortgage, or you've already had an experience with them, our community's reviews and complaints will give you a valuable perspective on what to expect. Our goal is to help you make informed decisions about where to invest your time and money, and we hope that our platform will be a valuable resource for you.

Please feel free to browse our reviews and complaints and share your own experience with Capwest Mortgage. Your feedback is an important part of our community and will help others make informed decisions.

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4:35 pm EDT
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Capwest Mortgage Mortgage Scam

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.

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12:48 am EDT
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Capwest Mortgage low appraisal

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.

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dia3766
, BJ
Sep 14, 2011 1:59 am EDT

hmm weird that you would have to do a appraisal for a interest rate out here we have a 3.99% rate and we did not have to get the house appraised and credit standing did not matter either way

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5:45 pm EST
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Capwest Mortgage Mortgage Fraud

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 to inspect and make a report out. It takes the appraiser only about an hour to do a boilerplate appraisal so Capwest pockets the rest. Capwest tells the appraiser what they want on the appraisal. Capwest has a room full of people answering the phones. If they have 20 people make 10 deals each a day conservatively thats 200 X $350 = $70, 000 x 5 = $350, 000 a week with very little overhead. Don’t be stupid go to a local credit union or bank and get legitimate references.

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Kenny Hertus
Hudsonville, US
Mar 04, 2011 12:09 am EST
Verified customer This comment was posted by a verified customer. Learn more

Try working with Citi Financial...

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8:34 pm EST
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Capwest Mortgage Horrible Service

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 lack period but they told me all the terms would remain the same. After almost 4 months of needless delays on their part I asked again about a closing date and they told me they would have to reprice the deal since my loan lock period expired. Not only did I waste $500 on the application fee, I lost a golden opportunity to refinance at the low rates from 4 months ago.

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9:22 am EDT
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Capwest Mortgage appraisal fraud

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

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Jason Hanks
Las Vegas, US
Feb 17, 2011 5:52 pm EST

Capwest is the worst. They would cheat their mother.

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Miksa U.
, US
Apr 13, 2010 1:07 pm EDT

Chase did the same for me. I am not sure if appraisal fee can be disputed as on page 2 HVCC says:

II. ... The lender may require the borrower to reimburse the lender for the cost of the appraisal.

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Diana Angelo
Perryville, US
Dec 22, 2009 9:22 am EST

CapWest did the same thing to me. Beware of this company.
Diana

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Capwest Mortgage Corp
Overland Park, US
Nov 04, 2009 4:15 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Lenders are not allowed to dispute value or even contact appraisers under the HVCC. The more educated home owners become with these regulations, the amount of complaints fielded by Lenders in regards to appraised values will decline.

From: James OConnor
Sent: Tuesday, November 03, 2009 7:30 PM
To: Kurt Simons
Subject: Re: Appraisal refund

Dear Kurt,

Thank you for refunding our Appraisal Deposit
and the link on the Home Value Code of Conduct.

Your immediate response is greatly appreciated.

Sincerely,

Christine & James O'Connor

On Nov 3, 2009, at 9:46 AM, Kurt Simons wrote:

James & Christine,

We are in receipt of your letter dated October 25, 2009. At this time we will issue a refund of your Appraisal Deposit. I have also attached a link that will educate you on the Home Value Code of Conduct set forth by Fannie Mae. This will provide information in regards to the limitation of lenders when it comes to appraisals.

https://www.efanniemae.com/sf/guides/ssg/relatedsellinginfo/appcode/pdf/hvcc.pdf

If you have any questions feel free to contact me.

Kurt Simons
CapWest Mortgage Corporation
14231 Metcalf Avenue, Suite 200
Overland Park, KS 66223
[protected] ext. 3003
www.capwestmortgage.com

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