American Capital Home Loans - Lie to reel you in
I worked with Chris Munoz at American Capital Home Loans to refinance my home. He lied to me and told me favorable rates in order to reel me in, then pulled a bait and switch after I had paid $425 for an appraisal (but wait, he told me I was only going to be charged $375) to "lock in" my rate. When my home appraised for $1,400 less than what I told him I thought it might, the terms of my loan completely changed. He told me an FHA loan was all he could do at almost $9,000 in closing costs (over 100% increase of what he originally stated closing costs would be) I called the appraisal company and caught him in his lie. He ordered an FHA appraisal from the beginning (hence the extra $50 cost) when all the loan terms he had given me and told me I was locking in with were for a conventional loan. I never would have continued with him to refinance into an FHA loan. I sent an email to his supervisor asking for my money back and all I got was Chris calling me telling me that I would still save money by refinancing them them over the life of my loan. He never denied his deceptive practices. I also filed a complain with the Better Business Bureau which they did not respond to. Now I am disputing the charge with my credit card company. We will see if that gets me anywhere. I would NEVER recommend Chris Munoz or American Capital Home Loans for your mortgage needs.
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