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Will I be required to provide information before I can close on my mortgage?

Yes. We try to make things simple by limiting the amount of information we need from you. Here's a list of some of things we may need. Everyone's situation is different so don't be intimidated by this list. We'll tell you exactly what you need to give us after you apply.

  • Most recent paycheck stub, W-2 form or tax returns with year-to-date earnings for all borrowers.
  • Most recent retirement account statement, 401(k), Pension, IRA, bank statement, etc.
  • Proof of homeowners insurance.
  • If you’re buying a home, we’ll need the Purchase Agreement or Sale Contract.

How far in advance of closing is my rate guaranteed?

If your Application was submitted before 10/27/2016
With our rate guarantee, once you apply for a Fixed Rate or Adjustable Rate Mortgage, your rate will automatically be locked in for 60 days on purchases or refinances. To accept your offer, you will need to provide your credit card information. There is no fee for applying, however, if you decide to cancel your application after you accept your offer and we have begun incurring costs to process the mortgage, there will be a $450 Commitment charge to your credit card.

If your Application was submitted on or after 10/27/2016
With our rate guarantee, once you apply for a Fixed Rate or Adjustable Rate Mortgage, your rate will automatically be locked in for 60 days on purchases or refinances. To accept your offer, you will need to provide your credit card information. Once you accept your loan offer, your credit card will be charged the Lender Appraisal Fee, as noted in Section B on your Loan Estimate. If you withdraw your application and an appraisal has not been performed, you will be refunded the appraisal fee less any cancellation fees charged by the appraisal company. If an appraisal is performed, regardless of whether you obtain your loan with us, you will receive a copy of your appraisal.

How long will it take to close my loan?

As always, we’ll make every effort to process your Home Loan quickly. Typically, it takes anywhere from 45 to 60 days to close a loan on purchase applications (depending on your purchase agreement) and 30 to 45 days for refinances. This timeframe may increase or decrease depending on our incoming volume and how quickly we receive all of your required information.

If you’re purchasing a home, we’ll work hard to get you to your scheduled closing date on time. However, it’s important that you send in all required documentation as soon as possible to keep the process moving.

To stay up to date on your loan’s status, sign in to and click on the ‘Check My Loan Status’ link.

When are my payments due and how do I make them?

You’ll need to make payments every other week (every 14 days). Bi-weekly payments reduce your balance faster and help you pay less interest. Compared to monthly payments, it adds up to making at least one extra payment a year knocking time off your loan. And since we encourage you to pay your mortgage off faster, we don’t charge you a fee like many banks to set up bi-weekly payments.

You’ll also need to make all your payments electronically. No paper checks please – this program is not designed to handle them. If we get one, we may charge $50 for each paper check payment received. Keep in mind that some bill pay services still send paper checks, and we will charge for these as well.

Can I escrow for taxes and insurance?

Yes. Escrow is an amount that is included in each of your mortgage payments so we can pay your taxes and homeowners insurance. This is not a cost we incur, but pay it on your behalf. (Escrows may also be called impounds or reserves in some states.)

For example:
Let’s say your mortgage payment is $1,500. Your principal and interest portion of your payment is $1,000 and is applied to your loan. The remaining $500 is deposited into the escrow account and will be used when a tax or insurance bill is due. When a bill is due, we pay it for you from the escrow account.

Can I make recurring payments on my home loan?

Yes, to save time and money, you can set up an Automatic Payment Plan and have your payments regularly transferred from your external account or other Capital One 360 account to your home loan. You never ever have to worry about making a late payment or a payment getting lost after you put it in the mailbox.

To set up your plan:

  1. Sign in to
  2. Click the 'Payments' tab.
  3. Choose 'Pay a Loan' and select the 'Pay Monthly (recurring)' option.

It’s easy to change or discontinue if your needs should change down the road.

How can I send in my documents?

You can send in your required documents in any of the following ways:

Fax: 1-866-327-4595
Secure File Upload:  Send us your docs through My Loan Status. Learn more.
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Mail: Capital One, P.O. Box 60, St. Cloud, MN 56302

What happens after I send in all of my required loan documents?

Once all your documents are reviewed and accepted, the ‘Documents Received by Us’ step under the ‘Loan Status’ tab will be checked off as completed. Then, you’ll be one step closer to closing on your loan.

Investment and Insurance Products Are:

Not FDIC InsuredNot Bank GuaranteedMay Lose Value
Not a DepositNot Insured By Any Federal Government Agency

Banking and lending products and services are offered by Capital One, N.A. NMLS ID 453156, and
Capital One Bank (USA), N.A., Members FDICOpens a new window Equal Housing Lender

Investment products are offered by Capital One Investing, LLC, a registered broker-dealer and Member FINRAOpens a new window/SIPC Opens a new window .
Investment advisory services are provided by Capital One Advisors, LLC, an SEC-registered investment advisor.
Insurance products are offered through Capital One Agency, LLC.

All are subsidiaries of Capital One Financial Corporation.

© 2017 Capital One
. All rights reserved.