Date: September 03, 2018 Age: 37 Gender: Female Marital Status: Married
Closing Fee
Closing costs are an annoying part of the process, but necessary. They were reasonable, but I feel they were a little higher than they should have been.
Interest Rate
I have a decent interest rate on my mortgage. It is very comparable to others. It could be better, but also much worse.
Loan Officer Service
The loan officer was nice, easy to work with. Loan officer did everything they could to get the deal done. Sometimes, it felt like the loan officer was bending over backward to get things going in the right direction.
Overall Rating
Pros
The lending institution is ok to work with. There haven't been too many problems. It is still a bank that holds my house, so I am careful when working with them.
Cons
Not much to say about what I dislike. Haven't had too many issues. Seems to be going ok so far. The reviews online are not good, I don't really like that.
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: August 31, 2018 Age: 68 Gender: Female Marital Status: Married
Closing Fee
I am not sure what the closing, etc. was when we obtained our mortgage... We looked at the overall picture and found that Citi was our best choice.
Interest Rate
At the time of purchasing our mortgage, the rate was around 7%. After shopping around, we were able to obtain our mortgage for 6.25%. We felt this was very good.
Loan Officer Service
Our loan officer came to our home to discuss the process. He was very polite and knowledgeable about everything. We did, however, do our due diligence prior to his visit and knew the answer to most of the questions we asked him. He was spot on. We have always been happy with Citi's customer service.
Overall Rating
Pros
Their customer service is superb. We never have to wait when calling. There is always someone right there to answer our questions and concerns. We also use their website, which is awesome.
Cons
Date: August 02, 2018 Age: 40 Gender: Male Marital Status: Unmarried
Closing Fee
I do not know that the cost is higher or lower in any significant way from any of my friends' rates, but it was higher than I had expected.
Interest Rate
My interest rate is below 4%, which strikes me as significantly lower than the average rate most other people I know are paying.
Loan Officer Service
My loan officer did not explain things nearly as clearly as I would have liked. I ended up doing a lot of research to supplement his work. This extra work did help me feel a bit better about things.
Overall Rating
Pros
I appreciated the accessibility of the lending institution, which enabled me to call or email almost any time I wanted. I really felt that I had access to answers at almost all hours of the day.
Cons
I did not like how bureaucratic the process was. I found that there was a depersonalized quality to the process, which made everything more stressful and difficult.
Date: July 28, 2018 Age: 41 Gender: male Marital Status: Unmarried
Closing Fee
I was able to save $500 as I was using my incumbent mortgage company that I was financed through on my other house.
Interest Rate
I was able to get the same 15-year mortgage rate that others had but I was able to save $500 in closing costs as it was my same lender.
Loan Officer Service
He was quick and to the point which I like. However, he wasn't too responsive after he got me approved.
Overall Rating
Pros
I like their online website. I am able to make extra payments on principal very simply on the site.
Cons
I don't really dislike anything about the lender other than they are in New York I think. I wish it was a smaller home state company that held the paper.
It was typical and competitive with other lenders at the time.
Interest Rate
I got a fixed rate mortgage that was competitive with other lenders.
Loan Officer Service
Since I was a first time home buyer, I was satisfied that the Loan officer explained everything to me.
Overall Rating
Pros
My loan officer explained the terms to me since I was a first time home buyer. He helped me understand the second mortgage process to get my down payment to the desired 20%.
Cons
Date: June 27, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
The closing fees were very transparent, and I came to the closing with a cashier's check for the exact value I was told by my broker, and the check was the exact amount needed at the actual closing meeting. The closing costs were comparable to other lenders.
Interest Rate
My interest rate was very competitive, and few lenders offered a lower rate. The other companies that offered a lower rate had a penalty fee up front in the form of mortgage points, so I opted not to go with those other lenders.
Loan Officer Service
The loan officer acted very professionally, was up-front about the whole loan application and approval process, and walked me through all of the paperwork required.
Overall Rating
Pros
The lender was clear about my rate, and the requirements and timeline required to lock in the rate, and all of the required documentation to close.
Cons
The lender had very few disadvantages. The only downside was their office was located in a busy area with no parking, so it was a bit of a pain getting to the closing.
Date: June 23, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I don't know what the closing costs are for other lenders because I have only closed with one lender ever, but I feel like our closing cost were about average
Interest Rate
I think our interest rate at our lender is on average with most. I believe that ours is slightly lower, but not by much
Loan Officer Service
my loan officer was on point. she was always there for any question I had, and I still keep in contact with her today
Overall Rating
Pros
they answered any questions we had without hesitation and were always happy to find information for us
Cons
the only thing I can think of was that we had to wait a little while at closing bc someone was late. other than that, I have no complaints
Date: June 22, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
We did not have to pay any closing costs or any other fees associated with the closing process. It was all paid by the seller.
Interest Rate
At the time the bank we normally use for loans wanted 25% down for a home loan which we did not have. We wound up finding this company and wound up with a 20% interest rate. We were not in a situation where we could come up with $20,000 to put down but now we are stuck with a high-interest rate and barely make a dent in our principal every year.
Loan Officer Service
Our loan officer was a jerk. He would not return phone calls or e-mails. The only time we heard from him is when he needed information from us and was very short when we did speak to him.
Overall Rating
Pros
The only thing good about his company is I can go online and pay my bill and see my payoff balance without communicating with anyone.
Cons
They are horrible to communicate with. They send letters to us that are meant for other people. it is a very disorganized company.
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.