Features

CapWest Mortgage is a division of Prospect Mortgage, one of the largest retail mortgage lenders in the United States. CapWest Mortgage was previously a division of Farmers Bank & Trust, a bank based in Great Bend, Kansas. Annually, Prospect Mortgage, which is owned by Sterling Partners (a $5 billion private equity firm), closes over 25,000 home loans for a total loan volume of around $7 billion.

CapWest Mortgage has its headquarters in Stilwell, Kansas.

How Do CapWest Mortgage Loans Work?

CapWest Mortgage accepts online and phone applications. Borrowers can select from a wide selection of mortgage types. CapWest Mortgage processes home loans in-house, which allows it to approve borrowers who may not have been considered by other lenders.

After completing the application and choosing the terms, sign all required documentation. CapWest will pass on the application to a loan officer, who will prepare the loan contract and submit your loan to underwriting. Funding a home loan can take anywhere from 30 to 60 days.

What Types Of Loans Does Prospect Mortgage Loans Offer?

CapWest Mortgage provides:

- Fixed-rate mortgages with 30-year and 15-year terms.

- Adjustable rate mortgages (ARMs) with 3/1, 5/1, 7/1, and 10/1 terms. Adjustable rate mortgages give borrowers a lower introductory rate for the first 3, 5, 7, or 10 years. After the initial period, the mortgage rates will follow the market index. ARMs are particularly suited to buyers who plan to resell in 5 years or less.

- FHA 203(K) renovation loan. FHA 203(K) renovation loans allow borrowers to finance the purchase and renovation of properties with the same loan. They are a valuable tool for borrowers who do not have the credit history to qualify for a regular 30-year loan.

- Jumbo loans.

- State and Local Bond Programs. Prospect Mortgage also provides access to many bond programs offered by cities and counties to assist buyers qualify for a loan at lower rates.

What Is CapWest Mortgage Loans’ Rating?

CapWest is a subsidiary of Prospect Holding Company, which Moody’s rates as Caa1. The Caa1 rating is given to companies with a stable outlook.

How Does CapWest Mortgage Loans Compare To Other Lenders?

CapWest Mortgage is a national direct lender that offers a broad range of mortgage products. Borrowers with less than perfect credit scores (as low as 580) and limited savings can apply for FHA loans with as little as 3.5% down payment. Prospect, CapWest Mortgage’s parent company, is one of the top mortgage lenders.

  • Intended Use
    Primary Home
  • Terms
    3,5,7,10,15,20,30 years
  • APR
    Starting at 3.222%
  • Institution Type
    Direct Lender
  • Primary Residence
  • Funding Time
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0 votes

Well the process started out great, application done online, and I received a return call the next day. That was the last quick response that I ever got, well at least for the next 68 days until I finally had to get "upper management " involved in my loan process. Ridiculous wastes of time with no follow through at all. When I finally made it past underwriting, and made it to the Title company, I didn't think it get any worse, boy was I wrong. What should have been ... a day to sign documents then have them recorded, took six business days and four complete reprints of the documents... I would never recommend this company to anyone, well unless you have over 75 days to wait to close your loan. I almost lost the deal twice because seller was getting very angry over not getting his money More Less


0 votes

Over the years i have refinanced several times on my rental properties. This is the first time i have used Cap West and by far the best . I wish i would have used them all along. I now have refis with them on all my properties.


0 votes

We used Cap West for a second time because we had such a positive experience with them. I had expectations and they delivered once again. We were able to close on the loan in 30 days without a hitch. Amazing staff !


0 votes

These guys are awesome. I have my mortgage through them and when there was an issue with my home's title, they really pulled through for me. They always have excellent customer service and answer all your inquires in a timely manner. They also give you financial advice along the way. I highly recommend them.


0 votes

The best company! CapWest really strives to make their customers happy. My loan agent and the person who processed the loan were both amazing. Everything was processed and done in under a month! I couldn't be more pleased. They are the best and I couldn't recommend them more. Awesome customer service.


0 votes

I am very pleased with how CapWest Mortgage handled my mortgage refinance. Getting the mortgage in the first place was a pain, but CapWest made the refinance easy. There was one snag in the rug, but they smoothed it out promptly. I barely lifted a finger. They are absolutely amazing and I'd go with them again in a heartbeat.


0 votes

The loan officer I worked with and her team were incredible. Talk about excellent customer service! Every time I called, they were there for me. I'm so impressed by their efficiency and how quickly they were able to get everything done. I highly recommend CapWest for their ease of use and great customer service!


0 votes

I refinanced my home a few years back with CapWest. It was such a great experience that I decided it was time to refinance one of my rental properties. I contacted both CapWest and a local bank, and CapWest gave me such a lower rate, it would almost have been silly not to choose them.


0 votes

I was really surprised at how quickly refinancing my loan with CapWest went. My first loan didn't go nearly as fast with my other lender. My loan officer was the best part. He kept me informed, let me know right away what I needed, and put my mind at complete ease. Highly recommended!


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