CapCenter

Jun 29th, 2022

Jun 27th, 2022

As a first time home buyer CapCenter made the process very understandable for me, definitely recommend.
Apr 21st, 2022

4 other lenders approved me for mortgages ranging from $460k - $500k. Cap Center denied me because of disputes and delinquencies from 2021. I disputed a credit card company because I have never had a credit card with them. I disputed my 1 delinquency because it said I was 60 days late, in which I wasn't. All of the disputes and delinquencies are from 2021. I have a 690 credit score, I make over $200k a year, I have about $15k saved up and I have assets and I have $0 in debt, literally $0. No credit card debt, no student loans, nothing. Cap Center mortgage rep said they use an automated underwriting system so there is nothing he can do, but if it were manual, someone may be able to look at it. I called their number for their Tysons, VA location and someone that I spoke with named Megan said she would send my file to a manager for review. I am giving Cap Center 1 star because every other lender approved me but they didn't. Veterans United, Navy Federal, the in house lender for my new build (Ryan Homes), and Swift Home Loans all approved me for $460k - $500k. Very shameful that Cap Center didn't approve me and it has me wondering if it were for other reasons. They get the other star because they are the best option out of the other 4 that I've spoken with. I am using my VA Loan. The highest mortgage for a $445k house would have been $2800 at 6.25% and closing costs of $6400. Lowest mortgage would have been $2500 at 5.50% and $15k in closing costs. With my in home lender for Ryan Homes, I would have to pay $15k in closing costs with a $3200 mortgage. In my opinion, Cap Center has the best numbers.
Feb 11th, 2023

Everything started out well; everyone was responsive and helpful. We have excellent credit scores, turned in all requested documents, and received several confirmations that our refinance was a go. The week before our projected close date, we sent out several emails and calls about coordinating with the notary and were met with no responses. Then, the day before closing, we get a phone call that they can't do our refinance. They were stumbling through excuses about our financial numbers, but were using incorrect information from an old profit and loss statement (which had been acceptable for approval 30 days ago) that we had already provided an updated version of! Clearly there is a lack of communication between departments. When we demonstrated to them that we knew our financial numbers and called them on using the wrong information, no one could or would give us a clear answer as to why we are suddenly denied. It is disappointing that there is no transparency and honesty with this business and their customers. We would have preferred an honest answer like "interest rates just went up and your refinance on a smaller mortgage with a lower interest is no longer profitable for our business." CapCenter wasted our opportunity to refinance before the rate increase and in turn cost us money. We would strongly caution consumers against using CapCenter due to their poor business practices, lack of communication and honesty.
May 11th, 2022