I paid nothing for my closing cost because I refinanced under a special program (not HARP) for lenders refinancing to keep an existing mortgage with the existing mortgage company. I had almost no equity in my house, and other lenders were going to charge me several thousand in addition to my having to provide cash to even out the value. I was very satisfied with the end cost of my closing.
Interest Rate
My rate is slightly high. I refinanced a house that had very little equity, in a time when mortgage rates were very uncertain and were rising. Months later, the rates dropped a whole point. I refinanced when I did because my lawyers and I assumed rates were about to skyrocket and I had a legal deadline, but now I see I might have been able to get a better rate if I'd waited until winter.
Loan Officer Service
My loan officer could not have been more convenient. I did the entire process online while I was at work, from talking about my situation to get the best program for refinancing, to discussing the long-term costs of coming up with extra cash, to scheduling my notary.
Date: August 31, 2018 Age: 27 Gender: Male Marital Status: Married
Closing Fee
The closing cost was pretty much at the posted price but was able to get a few things out of it that we wouldn't have otherwise.
Interest Rate
The interest for the loan is pretty reasonable and was able to explain every part of it to us very clearly and without having questions related to it.
Loan Officer Service
My loan officer was very nice and was able to help us understand everything we needed to during the closing of the house.
Overall Rating
Pros
I like the ease we had for closing on the house and how we knew everything we needed to in closing for the house
Cons
I wish it went a little quicker than it did but the length it took to do so wasn't so bad when it was all finished
Date: September 04, 2018 Age: 55 Gender: Female Marital Status: Married
Closing Fee
I also believe the closing costs were comparable to other lenders. It might have been a little bit lower than some others, but not a significant amount.
Interest Rate
I feel our interest rate is comparable to what some other institutions would offer. I believe it is based on our status and not necessarily the individual lender.
Loan Officer Service
The loan officer was knowledgeable and helpful. He answered all our questions. The process was completed in a timely manner.
Overall Rating
Pros
All of our questions have been answered quickly. It is easy to manage the mortgage with online services.
Cons
The institution is very large. That makes it not very personal. We do not actually know any of the people who are involved with our loan.
Date: September 04, 2018 Age: 53 Gender: Female Marital Status: Married
Closing Fee
Average closing costs compared to other lenders
Interest Rate
3.375 30 year fixed rate. Much better rate than competitors
Loan Officer Service
Residential mortgage process is always tedious. This was ok compared to others
Overall Rating
Pros
competitive rates, standard time to closing
Cons
Closing costs could have been better
Date: September 04, 2018 Age: 38 Gender: Male Marital Status: Married
Closing Fee
When I refinanced, I was able to do so with 0 closing costs due to a promotion with capital one. I think it was a very good deal.
Interest Rate
My interest rate is 3 percent. I am very happy with my interest rate. I recently refinanced a couple years ago in order to take advantage of the low interest rates. My original loan was 5.75 percent. When I refinanced my payments were reduced significantly.
Loan Officer Service
My loan officer was OK. He did an OK job of keeping in touch with me, there was one time where he dropped the ball, which is why he did not get a 5. For the most part he explained everything to me pretty well.
Overall Rating
Pros
Working with Capital one was interesting, so many of the tasks were done online. I didn't think I would like it, but it did make things easier. I had to meet with someone to sign the final paperwork but everything else was done on the phone or on the internet.
Cons
Since almost all of the process was done online, there was no face to face contact with my loan officer which was odd and I would have liked to work with them more directly at some point.
Date: July 02, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Our fees and closing costs were relatively high, I mostly compare it to companies that offer to "pay" the closing cost. We may have gotten a lower interest, but we paid a lot in closing, and that has kept me from refinancing when we could have knocked a percentage off our interest if we had refinanced. But it would have costs thousands.
Interest Rate
Our rate is a little higher than I feel we could have gotten from a mortgage company that bundles loans. We had to pay a point or two in interest for not having enough credit. We could have gotten a lower rate because rates dropped shortly after we bought, but it is still a low rate and we have a small bank that won't package and sell our mortgage to another company.
Loan Officer Service
All the paperwork was put together. Everything was explained to us. Each page was gone over as we signed it and the process was a little long, but easy.
Overall Rating
Pros
They were available, they are a smaller company and a credit union. We know our loan won't be sold. we are confident the company will be around year after year
Cons
We did not understand the appraisal process and were surprised at some of the extra charges. The bank also has no promotions to cover closing costs so I can get a better rate.
Date: July 14, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
I did not have any fees or closing costs. The lender paid for everything. I think I even got a few dollars back as a refund of interest paid.
Interest Rate
I compared multiple lenders and my lender had the lowest rate. My lender wasn't charging any additional points and I got a very low-interest rate. I am happy with the process.
Loan Officer Service
My loan officer did a good job of communicating with us and kept us informed throughout the process. We were very happy with the service we received.
Overall Rating
Pros
I like that the bank has great rates, better than standard banks because it is a credit union. They also emphasize customer service, which is important to me.
Cons
There isn't much that I dislike about the bank. They are a smaller institution so they don't have a convenient branch to visit and they don't have as many staff, but I think their service makes up for it.
Date: June 19, 2018 Age: 40 to 49 Gender: Female Marital Status: Unmarried
Closing Fee
I bought my home in a buyers market the seller was desperate and paid my closing costs.
Interest Rate
The rate is currently at 3.5% variable do to a refi about 5 years ago. I think it's about the same as most lenders today although with the new administration that will go up dramatically I suspect. I hear that interest rate will be going up soon.
Loan Officer Service
My (our) first loan offer was the best. I think she still works for the bank but makes in the day our loan was sold many times and well it was just a big mess for awhile. We just pay our huge Mortage now with no real thought about loan officers. :((
Date: June 17, 2018 Age: 40 to 49 Gender: Female Marital Status: Unmarried
Closing Fee
I have always felt fees and closing costs were higher than necessary for all lenders. The lender I used was no different, once I got the explanation for everything there are always fees on there I ask them to explain further (but none surprise me).
Interest Rate
The interest rate was similar to what others were offering. Interest rates were rather low at the time, so all interest rates looked good. I was pleased the rates were not higher.
Loan Officer Service
Very responsive loan officer. Made sure we had all documents in on time for the underwriter (even having me rush some documents to her office at 7 pm at night so we could beat the last minute deadline for additional documents they required).
Overall Rating
Pros
I was happy with how accessible they were, how well they explained every step of the process. It was easy to get documents to them and easy to have any questions answered. They also processed the loan on time so I could close escrow in a timely manner.
Cons
The number of documents that were required and how often I needed to "immediately" get documents to them. It seems like they have done this enough times there shouldn't be any last minute surprises, even if those surprises are coming from the underwriters and not the person themselves.
Date: February 09, 2018 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
The closing costs were about what I would expect from other banks so it was not that bad.
Interest Rate
I go a VA home loan so our interest rate was rather good at the time. I am quite satisfied with it.
Loan Officer Service
Loan officer went on vacation in the middle of us getting our house so that was a mess to work through when getting all of our works in a row in his absence.
Overall Rating
Pros
The lender was quick getting us approved, but after that everything was pretty bad.
Cons
We were not able to get in touch with our lender as easy as I would have liked and it became a very bad issue when signing our papers.
Date: February 13, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
It seemed to be standard. The seller paid a good bit of them instead of lowering the price of the house. We went back and forth a few times before coming up with this solution
Interest Rate
I am paying 6%, which was good at the time. But I see that I can get a new rate of about 3%. I will either refinance or, more like, relocate to a new city for work in the next year and take advantage of a lower rate.
Loan Officer Service
She shopped around before finding us the best deal with little out of the pocket experience. This was before online lending sites made things a lot easier. I will turn to online next time.
Overall Rating
Pros
The lender really worked hard to find us a good loan. We got really good terms and were able to move quickly on the home we wanted.
Cons
It took a little while to come up with the right solution. The initial mortgage offers weren't great and required a lot up front. I guess this problem would be solved by online services like rocket mortgage, etc.
Date: September 02, 2018 Age: 42 Gender: Female Marital Status: Married
Closing Fee
I don't really feel that closing costs are fair in any manner. It is just another way of the lenders getting more money from us.
Interest Rate
I cannot compare to what other rates are currently but we are pleased with our 4.0% at our lender. At the time of taking the loan it was a good rate and compared to where the market is today, we are still happy with it.
Loan Officer Service
Our Officer was amazing, she was thorough and attentive. She explained the process and helped us with everything! We could not have been happier.
Overall Rating
Pros
We use our institution as both a lender and our personal bank. We can always rely on excellent service and the branch is just a mile from home.
Cons
There are so many fees associated with banking and loans, we give enough money to the government, we should have some grace when it comes to our banking.
Date: June 15, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Typically, home buyers will pay between about 2 to 5 percent of the purchase price of their home in closing fees. Our home cost $150,000, we paid $7,500 in closing costs. I learned from a recent survey that on average, buyers pay roughly $3,700 in closing fees. Ours was a little above average, but that is fine because we love our home.
Interest Rate
I received a 3.5% interest rate on my mortgage. We shopped around at various banks and we found that Citi Bank offered the lowest fees and best interest rate.
Loan Officer Service
Transparency is the #1 key to being a good loan officer. Our loan officer was honest and upfront with us the whole time we were in the market searching for a mortgage that worked for our budget.
Overall Rating
Pros
We liked that our lender costs for each rate option were presented to us in an informative way. These costs would include anything the lender might charge such as points, origination costs, credit report, processing, underwriting, etc. These are the fees that will vary per lender. Our lender informed us that we did not need to focus on are things like appraisal, title fees, interim interest, and escrow. These amounts will, for the most part, all be the same from lender to the lender because they are not lender specific fees and as such do not very much at all across the board.
Cons
I dislike that the lender did not discuss subprime mortgage options with us. I think a flexible ARM loan may have been better suited to our budget, even if the loan interest rate varies throughout the loan term.
Date: July 30, 2018 Age: 53 Gender: Male Marital Status: Married
Closing Fee
I am never satisfied with the fees they charge me to lend me money and then get more money in interest from me.
Interest Rate
Much better rate than is currently being offered. Sure they are taking a profit.
Loan Officer Service
It was ok, they got the closing fees wrong.. That was stupid.
Overall Rating
Pros
They were quick and relatively cheap but relative to what. So they got me out of a 5 loan to a 2.99 loan
Cons
They were all peppy at the first and the closing fee was one thing then it was something quite higher and I had to scramble to get more money to close.
Date: July 04, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
It seemed like they could not get it right and had to pay more than got it right back
Interest Rate
At the time all were good but mine was better. I felt like they being a bigger company helped me out.
Loan Officer Service
They hook you in and then move you along felt like a piece of meat
Overall Rating
Pros
Online quick and approved. They were responsive and easy to get ahold of
Cons
After the initial blush wore off I found it odd that they could not get the upfront fees figured out
Date: December 01, 2017 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
The fees were ok, It was stupid that I had to pay the fee then got it rebated directly to me.
Interest Rate
I got a 2.99 interest rate down from 5.0 and lowered my payments down to $1860 from $2600 rates were very competitive.
Loan Officer Service
He was online and on phone and pretty good a getting it going
Overall Rating
Pros
All online ready to do business and answer questions quickly. Very good
Cons
I did not like the uncertainty with what the fees were actually going to be One minute it was a manageable fee then it was higher.
Date: August 16, 2018 Age: 40 Gender: Female Marital Status: Married
Closing Fee
they kept closing costs to a bare minimum to allow us to get into a house. if they hadn't, the out of pocket expenses would have been too great and we wouldn't have been able to afford to buy
Interest Rate
we got an awesome rate because of the VA loan. cal vet actually offered us a slightly higher rate from what I recall, so we went with veterans united
Loan Officer Service
he was awesome, super responsive. Until our offer was accepted and then he went totally silent and kind of snotty.
Overall Rating
Pros
I liked how super fast responsive they were. They always responded VERY quickly which really put our minds at ease as first time buyers.
Cons
I didn't like how they pretty much abandoned us once our offer got accepted. We still had a million questions and all of a sudden our loan guy pushed us on to some newbie contact, who while responsive, didn't have all the answers, and then guy #1 got kind of snotty with us. A total 180% which was frustrating when going through escrow.
Date: June 18, 2018 Age: 30 to 39 Gender: Female Marital Status: Unmarried
Closing Fee
I was able to absorb the fee of the cost of the mortgage upgrade by skipping a month's mortgage between the old mortgage and the new, making the adjustment possible and simple.
Interest Rate
I was able to obtain a mortgage rate of 3.39%, a marked improvement on my previous mortgage of 6.49%. Also being able to shorten the length of the loan from 30 years to 20 was also a goal achieved.
Loan Officer Service
My loan officer was very helpful and he listened to my needs and concerns. At first he looked for a 30 year mortgage with a better interest rate, when I told him I was pleased I would be able to pay ahead he then asked if I regularly and consistently paid ahead, and when I said that I do and I will, he then asked if I was able to would I be interested in a 20 year mortgage, which had a better rate, but would require a higher monthly payment. I eagerly accepted.
Overall Rating
Pros
My loan officer was clear, transparent and forthright helping me to understand what options were available for me. I appreciated his willingness to look into multiple loans for me and his ability to see me as an individual.
Cons
So far I have only had positive experiences with this loan officer and this baking institution. I hope they will maintain ownership of my loan until I am able to complete the final payment.
Date: June 25, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
My closing costs were very minimal and the rates at the time were much better than other lenders.
Interest Rate
My interest rate is 3.5 percent which is a great interest rate. Have had my mortgage company since 2001. They are always willing to work with the customers if they are having issues and they really try and make sure you stay in your home.
Loan Officer Service
I went through a broker and he was so efficient and made sure I got the best deal for what I was looking for.
Overall Rating
Pros
The fact was I was going to lose my place after 20 years because my financial situation which changed drastically. Called my mortgage company and told them I was going to give my place up to them and they found an alternative loan that allows me to continue living here because I have been so great on my mortgage payments for 20 years never missed a one. They lower my payments which allowed me to continue living her an owning my place. They are the best mortgage company around.
Cons
I dislike nothing about this company. They are willing to work with their customers to keep their homes
I incurred no closing costs, as I received grants as a first time home buyer.
Interest Rate
At the time I was given 5.875 and within 15 months modified the loan to 5.375. I don't have comparisons so my guess is not great credit score.
Loan Officer Service
It was shaky at first. The loan officer was let go. He lost my records and did not know the address of property I was purchasing. It finally worked out but wasn't happy with the process.
Overall Rating
Pros
I did not choose the lender. The seller was the housing authority in my city. I don't do other banking other than pay mortgage every month. They are okay.
Cons
I don't like how they have treated me, and have not given me many options now that I no longer work, due to my cancer diagnosis.but may be so if other banks, but I have nothing to compare them to.
Date: September 02, 2018 Age: 38 Gender: Male Marital Status: Married
Closing Fee
Fees, points, closing costs, appraisals, are all WAY WAY too high. People pay these fees without realizing they are throwing money away. I will never sing another mortgage, we are working to pay down our loan very quickly and will pay cash in the future.
Interest Rate
We financed our home at 5.875 when this was a good rate at the time. Rates are much lower now. We would have liked our bank to offer us a lower rate and refi.
Loan Officer Service
The most recent loan officer I dealt with either gave us false information or intentionally incorrect information regarding HARP qualifications. We are on Freddie Mac not Fannie Mae and there is a big difference when it applies to HARP. We also qualify as being in a HUD zone and have other qualifications that were not explained or offered to us. We are done with loan officers.
Overall Rating
Pros
It is difficult to find anything we like about our lending institution. They have a nice website, how is that? Banks are designed to make a profit off of people, using government or other people's money to accomplish it. I have no love for banks at this point. I am paying off all of my credit cards, car loan, mortgage, and never utilizing debt as a tool or crutch ever again. Debt are evil, banks are the purveyors of this particular type of evil. Thanks.
Cons
Banks offer misleading offers, high and sometimes hidden fees, sometimes they act in a predatory manner as is the case in recent history with mortgage lending. Banks will charge you for a debit immediately but may wait several days to give you a credit for a deposit - this is a type of thievery. Banks charge way too much money in fees, and offer poor customer service.
Date: January 28, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
In working with the mortgage company we had a clear idea of the fees and what we needed to bring to closing. The credit union couldn't give us that until after underwriting.
Interest Rate
We looked at 2 institutions. A mortgage company and our local credit union. The mortgage company was able to get an interest rate of 0.5% lower than the credit union.
Loan Officer Service
We worked with someone who has been in the Mortgage Industry for 20+ years. He was knowledgeable, patient and was available whenever we had questions or needed information.
Overall Rating
Pros
I liked that the mortgage company provided options to decrease the monthly payment. Such as PMI buyout and potential to purchase interest rate percentage points
Cons
I loved everything about them. There is nothing that I would change. We truly had a fantastic experience.
Date: September 02, 2018 Age: 49 Gender: Female Marital Status: Married
Closing Fee
The closing costs for the mortgage was exorbitant. I believe there are other lenders who would be fairer in closing costs.
Interest Rate
My interest rate is higher than other lenders and the lender overall is not customer friendly. The lender not only provides higher interest rates, but they also enjoy tacking on extra fees.
Loan Officer Service
My loan officer and the service I have received after obtaining the loan has been subpar. I am not happy at all.
Overall Rating
Pros
I really don't like much about Mr. Cooper/Nationstar. They have not been helpful at all throughout the process and I would never recommend them to anyone.
Cons
The company is not professional and they do not respond to requests. I can never get a useful answer from the loan specialists and they are not friendly or helpful.
Date: January 30, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I felt the closing costs were reasonable. If I remember correctly, they were not too bad. I was really excited to own the house, but they seemed low.
Interest Rate
I feel this lender was very good. We have a very small amount of interest. I feel other lenders would be a lot higher
Loan Officer Service
This loan officer went above and beyond to get things approved in a timely matter. He would get things approved in less than an hour he would be calling back with the newest details.
Overall Rating
Pros
This lender seems okay. I didn't hear about them much before we got the loan from them, but it has been going pretty well.
Cons
They haven't been communicating well lately. I wish I could talk more. They recently said they sent out papers and we received them, however, we did not.
Date: August 05, 2018 Age: 34 Gender: Female Marital Status: Married
Closing Fee
My closing costs and fees were significantly lower than other financial institutions that I researched. I was able to negotiate with my loan officer and some of the fees and costs were reduced.
Interest Rate
The interest rate that I received from my lender was comparable to all other lenders. It was the customer service aspect that I found to be of a greater benefit.
Loan Officer Service
My loan officer was very friendly and was willing to reduce his commission and reduce fees in order to gain a new customer. That goes a long way in my book.
Overall Rating
Pros
I really like using the Chase mobile app. It is user-friendly and makes it very easy to pay my mortgage, check my escrow account etc.
Cons
I have been trying to change my last name for several years with my mortgage company. I have sent all of the documents that they have requested and it still has yet to be changed. That is very frustrating.
Date: June 28, 2018 Age: 50 to 59 Gender: Female Marital Status: Unmarried
Closing Fee
The closing costs were a little high. Had to come up with extra money to pay for the additional costs.
Interest Rate
The interest rate is comparable with other lenders in the area. I think it is a fair rate for the amount borrowed.
Loan Officer Service
The loan officer was ok, they explained the loan and the terms and did try to help with the closing costs.
Date: June 22, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
I believe our closing coast was typical of what most mortgage companies charge for closing cost. I honestly didn't look around at others, but it didn't seem either high or low.
Interest Rate
Our interest rate was first at 6%, which I thought was quite high at the time. But our back was Chase, not our choice, which I do not like doing business with anyway because of problems in the past with them.
Loan Officer Service
Yes, they were professional and courteous. It didn't take us too long to sign the papers once the mortgage went through. It was a while ago since we did this, but I'm sure I remember this correctly.
Overall Rating
Pros
I like that it was close by to our new home. The loan officer was pleasant enough to deal with and we got out of his office in a reasonable time.
Cons
I've had problems with them in the past with checking and credit card issues, so we weren't too happy to know that they would be our mortgage company. When we refinanced with them a few years after we purchased our home, we were told we would get a deal where the only charge we had to pay throughout the whole refinancing process was $375. I made sure to reiterate that with the loan officer. But when we came back in to sign the paperwork, we were told that we owed $1800 more. I was furious but not surprised that they flat out lied to us. We argued and complained to the point that they finally dropped that charge.
Date: June 06, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
The closing fee cost of my mortgage and with my company absolutely blew my mind because I was expecting a higher closing fee but was surprised with only paying a couple of thousands for it, where instead other companies had higher costs.
Interest Rate
The interest rate of my lender compared to other lending companies doesn't even compare because my current interest rate was the lowest I was able to find out about any other company.
Loan Officer Service
I was very pleased with my loan officer services that she provided me with because she answered any and all questions I had regarding the home and the mortgage process and was able to get me the lowest deposit possible.
Overall Rating
Pros
I liked everything about my process of achieving a mortgage from Chase, from the loan officer that helped me to get the cheapest deposit to the low-interest rate I really enjoyed the process with them and hope to do business with Chase in the near future.
Cons
To be honest I didn't dislike anything about my process of achieving a mortgage from Chase due to I coming away with a great deal on a house in which I wouldn't have been able to do with another company.
Date: February 11, 2018 Age: 20 to 29 Gender: Female Marital Status: Married
Closing Fee
I had almost no closing costs since I had the home seller pay the closing costs for me and I was able to use money for something else
Interest Rate
I feel that I was given a very good interest rate it was very low actually considering my credit score at the time was low 600s
Loan Officer Service
my loan officer was super helpful and professional and I recommend him to people all the time and have given him glowing reviews in the past
Overall Rating
Pros
I like the fact that after only a year they called me and told me that they would refinance the load and lower my interest rate at no cost to me.
Cons
The Lender is good because I really don't have anything negative to say about it I guess maybe that they sometimes have foreigners answering the phone but that's ok.
Date: September 01, 2018 Age: 53 Gender: Female Marital Status: Married
Closing Fee
I feel the fees were fair. I did compare fees with fees other people paid from other lenders, and they were all in line.
Interest Rate
I am happy with my rate because I have good credit, and when my husband and I took out the 30-year mortgage two years ago to buy our house, we got the going rate for people without credit. I only gave a 4 because I am sorry that I did not look into the 15-year mortgage rate to see what that would be because I'm sure it would have been lower.
Loan Officer Service
My loan officer was good. She was honest, efficient, and professional. She knew what she was doing, and answered my call and emails promptly. She had a great team working with her too.