Capital One

• Competitive Interest Rates
• Relatively Low Closing Costs
• Customer Communication
• Mobile App

Competitive Interest Rates

As of December 2016, for a borrower with excellent credit purchasing a $250,000 home with a $50,000 down payment and a 30-year fixed rate loan from Capital One, the interest rate comes out to be 4.13 percent, which is very competitive among interest rates offered by other top home loan companies.

Relatively Low Closing Costs

Capital One charges closing costs of 2 to 5 percent of the total purchase price, which is relatively low in the industry.

Customer Communication

Capital One provides its borrowers with frequent updates about the status of their loan throughout the entire lending process.

Mobile App

Capital One customers have access to a mobile app that is compatible with iOS, Android, and Windows devices. This app allows borrowers to view and manage their loan from their smartphone or tablet.

• High Credit Score Requirement
• Limited Loan Options

High Credit Score Requirement

Capital One has set its minimum acceptable credit score for borrowers at 660, which is one of the highest disclosed requirements of all of the companies we've reviewed.

Limited Loan Options

While many other companies in the industry offer several types of home loans, Capital One only offers two: fixed rate mortgages and adjusted rate mortgages. This greatly limits the options of the borrower.