Capital One Mortgage Complaint

Capital One Mortgage department,

Conventional adjustable mortgage (ARM) Application, originator, mortgage broker North Carolina

I was interested in re-financing my existing 5/1 ARM with Capital One, which is in its - year. Their website ( capitalone360.com ) states 5/1 loans are available with no closing points. I called to start the re-finance application and was told that I would have to pay 1.25 % in points. This was not disclosed anywhere ontheir website. The loan I wanted for 0.00 % points was only available for a home purchase ( not re-finance ) with at least 40 % equity ( I have over 80 % equity ). Nothing on the website indicates these conditions except for the example of the monthly payment. This is basically a bait-and-switch tactic and misleading in order to get me to call for a loan and charging me for something else at a higher cost than advertised.