I think there were high closing costs with my loans. I don't know if it's with all of them or just this high with my company
Interest Rate
I think I have a fairly good interest rate compared to those with other lenders.
Loan Officer Service
He left out valuable information that I needed and my loan almost fell through.
Overall Rating
Pros
I like that I could do most everything online.
Cons
I don't like that it is hard to get someone to explain things for you.
Date: August 19, 2018 Age: 35 Gender: Female Marital Status: Married
Closing Fee
They had a closing cost that I honestly don't remember because they rolled it into the mortgage which I didn't necessarily like but we couldn't afford to pay for it out of pocket. When we compared the closing costs to other banks/lenders around the area it was around the same if not lower and the option to roll it was nice.
Interest Rate
They were 4 1/2 percent and when we looked into other lenders such as US Bank they were higher so we decided to proceed with HomeTown Bank.
Loan Officer Service
He was very to the point and had everything spelled out for us. I felt as though it was very black and white and I appreciate that because I don't always know what all those terms mean.
Overall Rating
Pros
Previously i like the rates, the transparency of the lender and how they allowed us to roll the closing costs into the mortgage. I also like the fact that there is online banking with it.
Cons
The only thing that I would say that was negative was the fact that they sold out to HomeTown Bank when it was originally a small bank in a small town
Date: August 04, 2018 Age: 38 Gender: Female Marital Status: Married
Closing Fee
I had to pay my closing costs and the closing costs of the seller. Where it was an Brand Bank deal I had to pay both as part of the agreement and all the house taxes.
Interest Rate
My lender gave me 7% and I would be able to have gotten around 4% through a traditional mortgage at a bank.
Loan Officer Service
My loan officer was the homeowners where it was an Brand Bank deal. They were fine to deal with.
Overall Rating
Pros
With my lenders being the homeowners on an Brand Bank deal. I like that they are flexible with me on due dates of the loan.
Cons
What I dislike is that they act like they still own my home even though we have a legal agreement on the loan.
Date: July 28, 2018 Age: 47 Gender: Male Marital Status: Married
Closing Fee
We had read about closing fees and how horrible they could be. we were advised by the realtor that these fees were much less than that of the market at the time.
Interest Rate
We did not do any comparing. Being our first house we went with the option that we chose because my wife is a teacher and we thought this rate must be good.
Loan Officer Service
The loan officer was the daughter of our lawyer so she was mostly trustworthy although, we feel she did this deal with a friend of hers and maybe they both made money.
Overall Rating
Pros
The bank did not much get into the process. We mainly dealt with the loan officer so in this respect it was a good thing. Nothing to slow up down.
Cons
As soon as we were in the house a good year or maybe two, they sold the mortgage to our current company and I have to wonder why. Not in it for the long haul?
Date: June 19, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Seemed like standard fees but they did waive refi charges last time so I am happy about that. I felt it was very fair b/c I was a long time customer. They also made it convenient for me.
Interest Rate
The rate is fair given the time I got the loan. It was the best rate available at the time. It is still pretty good rate. I could get slightly lower rate if I refinanced today but it isn't worth it given the extra fees to refi.
Loan Officer Service
Very professional and courteous. They always got back to me quickly with questions. Thye came to me so I did not have to drive far and had everything prepared and ready to go. I'm happy with everything.
Overall Rating
Pros
They are a small bank and really care about the customers not just making money off you. They are local and live in the same community so they are more and give back to the community.
Cons
Just that there are limited online tools to help clients. They could improve tech but that would cost more and push them to be a bigger bank so not sure it is worth it.