Capital One Mortgage pre qual

[Anonymous]

Any have experience with the capital one mortage pre-qual that actually went ahead and submitted for a mortgage? I supplied all information for myself and co-borrower and it came back with a pre-approval of 482,000 with 50k down @ 3.625 %, so loan amount of 432,000. It states to bring the pre-approval letter to look at houses, so we can start doing that. Just wanted to see if anyone has done the pre-qual with them, gone ahead and applied for mortgage and got close to the original pre-approval terms?

Any insight is appreciated, we kind of just did it on a whim to see what type of results we would be given, but now we actually may go look at a house this weekend.

Just a side note my mid mortgage score is about 700, and co-borrower is high 700s.

[DallasLoanGuy]

while they might do a good job for you, those big box banks are usually a little slower at processing/underwriting/closing.

talk to your realtor about it. if they cant close fast, you might miss on a bid.  

when i sold my house, i had a guy offer.... he was with wells fargo.... we didnt take his offer. we had too much traffic and other interests. i didnt want to wait 90 days to see if they would close or not.

[StartingOver10]

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@DallasLoanGuy wrote:

while they might do a good job for you, those big box banks are usually a little slower at processing/underwriting/closing.

talk to your realtor about it. if they cant close fast, you might miss on a bid.  

when i sold my house, i had a guy offer.... he was with wells fargo.... we didnt take his offer. we had too much traffic and other interests. i didnt want to wait 90 days to see if they would close or not.

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^^^So true. If you can avoid a big box bank - do it. You will save yourself time, effort, money and heartache.

[Anonymous]

Thanks for the response. We will use the pre approval letter to at least start looking at houses. Can anyone recommend a bank in the Long Island area they've had good luck with?

[Katheryne88]

I used Gateway Mortgage, they're in central jersey not far from LI I think..

They were amazing to work with

[RickyRay]

I just got prequels letter from cap one for up to 40k home loan. Being low income soc sec. The small home is only 25k and 2000 dn pmt. My middle score was 760 with only two small trade lines open from Blair cc and an old grand point catalog account still shows as active and PD both equal 550 cl. 4.6 years credit history with them nothing else reported on my record's. So what happens next and is cap one a good mortgage company?.

[RickyRay]

I live in cal