Capital One Home Loans is a large company that offers many kinds of financial products, including home loans. The range of loan products available is broad and includes fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, jumbo loans, HARP refinance services: mortgage refinancing, cash-out refinancing, new home loans, and reverse mortgages, down payment loans for first time buyers, physicians loans, renovation and construction loans. Each has its own characteristics but they are all subject to evaluation in relation to your own financial situation.
Capital One’s Style of Presentation and Process
Capital One’s website is well designed and thorough. The site offers a $1,000 closing cost discount for those who apply and qualify starting in September. They keep a real time interest rate and APR chart that provides across the board comparisons between 15-year, 30-year, 5/1 adjustable rate and 7/1 adjustable interest rates. The loan process many times boils down to what you can afford both upfront and long term. A good way to check your potential finances is to utilize a monthly payment calculator such as the ones found here. After evaluating your income, assets and employment, you can better assess what amount of loan you can attempt and at what pace. All the factors that the company has anticipated are answered in the “Learn” section of their website. There are articles and tables as well as step by step calculators that will walk clients through the process of applying for the loan.
Cautionary Notes and Final Precautions
The costs of the loan as far as fees and service charges are not as clearly described or centered in this company’s description of their services. Remember, all retail home loan companies charge you for the privilege of their expertise and service in setting up, evaluating and processing the loan application.