Date: August 04, 2018 Age: 60 Gender: Female Marital Status: Married
Closing Fee
It probably is very comparable, but it was a shock that it was so high. I had all the info though, so it wasn't a surprise. Just a lot of money.
Interest Rate
I obtained my loan through a broker, and supposedly at the time, it was a very good rate. The broker later sold the mortgage to the current bank.
Loan Officer Service
He was very understanding, in that he answered all of my questions thoroughly. He had a courier come to my home to pick up the documents. And helped me obtain all the info I needed to get together.
Overall Rating
Pros
He was personable. Responsive to all my questions. Always returned emails and phone calls. Had his home cell number and work number, plus email- so he was always available. He helped me get together all pertinent documents.
Cons
There was really nothing I disliked about the Lending institution. The amount of money in closing costs was a lot, but their rates were better than others. Just the cost of doing business, I guess!
Date: July 29, 2018 Age: 32 Gender: Male Marital Status: Married
Closing Fee
Ended up being about 6000 dollars. I thought it would have been around 4000 dollars. I really didn't get into all of the closing costs with all of the prospective lenders so don't really know
Interest Rate
Got 2.75% and most everyone else was similar. Some a little higher. Didn't find any lower. Went with Wells Fargo because I bank with them and easier to pay the mortgage
Loan Officer Service
He was fine just really really slow. At typing. At talking. At everything. I would have appreciated someone that got things done quicker
Overall Rating
Pros
It is a big bank so can't really complain too much. I knew what I was getting and there weren't really any surprises.
Cons
Feel like I'm feeding the man by going with a big bank. Would rather have gone with a smaller bank but they couldn't really offer any better rates.
Date: June 17, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
I think they are similar. Wells Fargo was upfront about the costs and the closing costs did not change - the only surprise was that the house assessed lower than the cost so we had to pay that difference up front.
Interest Rate
I think the interest rates are all pretty similar - we just got lucky locking in the rate when they were historically low while the house was being built. We did have the option of a one-time re-lock if rates dropped but they did not.
Loan Officer Service
I haven't needed anything from the loan officer really...it was a very easy process and I could walk to the closing offices from our old place. It was quick and efficient which is important to me.
Overall Rating
Pros
I like being able to manage my account online and seeing the principle I pay each month go up while the interest paid goes down. They always provide a payoff balance which is nice when getting a tax assessment for comparison.
Cons
Sometimes it's a little bit of a hassle to log on but that's fairly minor. Things seem to work well and we've never had a problem, to be honest. They have never sold the debt which is nice.
Date: June 10, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I think the fee and closing costs were pretty normal. They were similar to what I had experienced with a previous home purchase. I wish they had been lower, of course, as everyone does, but I was satisfied.
Interest Rate
They were lower than the other lenders we communicated with. I was satisfied with the final rate, although I wish it had been lower, of course. It was a decent rate.
Loan Officer Service
The loan officer was completely incompetent and I'm honestly surprised the loan went through. I wish we had used someone else. She called me at all hours of the day and night, including after 11 pm. Yet we had excellent credit and were easily able to obtain a loan. I would not use this loan officer again, nor would I recommend her.
Overall Rating
Pros
There wasn't much I liked about the lending institution. The assistant to the loan officer was friendly and polite and tried to help us. She basically took over the process, as the loan officer went out of town for a week right before our closing. I honestly can't say there was much to like.
Cons
They were open random hours, the officer was never there, her assistant did 90% of the work and I had to constantly update her on items I had already brought in. I was very disappointed with that particular lender.
Date: December 01, 2017 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Seemed relatively fair at the time, now that I have gone through the process on another occasion my first mortgage costs were a bit higher than a competitor may have been able to give us.
Interest Rate
My interest rate at the time was fair, but we did an 80/20 loan at the time and I felt the pressure to refinance on the home equity to keep the rate from increasing too dramatically. That rate was a bit high even after the reify compared to other lenders.
Loan Officer Service
They were constantly having issues getting us approved with the correct mortgage initially. Telling us we qualified for one particular loan and then calling back the next day to say, "oops we were wrong". This did this to use more than once and it definitely made the home buying process more stressful than necessary.
Overall Rating
Pros
I did like that, in the end, they were able to work with us and our limited budget at the time. They are also available in several markets and when buying a home in another state it was an easier transition the 2nd time around. I find their online services easy to use and they allow me to make bi-weekly payments which is a nice benefit.
Cons
I would prefer slightly lower rates and think they could be more competitive in the market. And my other complaint was just primarily having to do with the qualifying and then disqualifying us on various programs initially.
Date: December 01, 2017 Age: 30 to 39 Gender: Female Marital Status: Unmarried
Closing Fee
At the time we purchased, we did not have to pay closing costs. So, we were very satisfied with the fee structure during closing.
Interest Rate
I am disappointed with our interest rate. We locked in a fixed 6% rate when we purchased our home before the mortgage crisis. We have tried in vain to take advantage of Harp and other interest rate reduction programs to no avail. We are always told that we do not qualify due to a "credit enhancement." But, when we ask what that is, no one can seem to tell us. We pay three times the mortgage payment that most of our friends pay. And, they live in homes that are valued over $200,000.00 more than our home. Talk about bad timing. Our home is just leveling out, and is now valued at about what we paid for it. We have lived in the home for ten years, and if we sold it today, we would just barely break even. We would have been better off to rent for the last ten years.
Loan Officer Service
I was not satisfied with our loan officer. We felt very rushed through the process. They seemed to be working on commission and only interested in landing another loan.
I paid up front a little more in fees to get a lower rate over time, and am happy with the result. The fees weren't all that different and they do provide good information in the disclosures so it's not too difficult to compare.
Interest Rate
I think a lot of the interest rates are very similar over time; I just got lucky and happened to close four years ago when rates were very low. Sometimes lenders play games with the interest rate and closing costs and other fees which is a pain but in the end it worked out.
Loan Officer Service
I didn't have any big problems and it was my third house so I knew to expect a lot of last-minute questions but mostly ignored. This loan officer was a little better than previous ones but again it could have been my familiarity with the process and better financial standing.
Overall Rating
Pros
Working with a big lender made the process more standardized and I felt like I could get someone else to help me there if I really needed to.
Cons
The Lender was sort of impersonal and I felt like there wasn't much room to negotiate or customize anything about the terms of the mortgage.
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: 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.
Date: July 28, 2018 Age: 61 Gender: Female Marital Status: Married
Closing Fee
Nobody likes to pay closing cost, but compared to other companies Sun Trust was a little higher at the time we processed the mortgage, it was much faster to process since we also had a construction loan. We also received a bonus for using direct payment.
Interest Rate
I compared other lenders at the time I requested a mortgage and Sun Trust was very competitive. Since they also had financed our construction loan to build the house it was much faster and cheaper to use them for the mortgage as well. It saved in closing costs.
Loan Officer Service
Our loan officer was very knowledgeable and walked us through the process very quickly.
Overall Rating
Pros
I like that there is a branch office near me so if I ever have any issues I can walk in and actually talk with a person.
Cons
I dislike their online banking. I also dislike the fact that they are continuously sending requests for me to open one of their charge cards. I really do not like to be solicited in this manner, or any manner.
Date: June 05, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I think it was normal compared to other companies, but since this was my first home purchase, I didn't really have anything to compare it to.
Interest Rate
I think my interest rate was comparable to other lenders at that time, but I probably could have gotten an even lower rate if I had shopped around more.
Loan Officer Service
My loan officer helped with making sure I had all the proper documentation for my loan, and that everything was set up correctly for my closing.
Overall Rating
Pros
I liked that it was a major bank, so I felt like I could trust it more. I like that you can basically do everything you need to do online.
Cons
It just felt impersonal, and that I did not matter that much to them. It was hard for me to get a hold of my loan officer when I had questions for her.
Date: June 05, 2018 Age: >60 years Gender: Female Marital Status: Married
Closing Fee
I did not compare closing costs with other lenders so I cannot say it was higher or lower.
Interest Rate
It is very comparable. While it might be a little higher it isn't sufficient to warrant refinancing our home.
Loan Officer Service
He was very professional and explained the complete process very well.
Overall Rating
Pros
They were local, so we were able to just walk in.
Cons
Nothing, they have been very responsive and easy to work with.
Date: September 04, 2018 Age: 33 Gender: Female Marital Status: Married
Closing Fee
Our closing costs were just under $10,000. That is what I was told to expect, and I get the feeling that is normal for most companies, especially when we bought a large and expensive house.
Interest Rate
I think we have a good rate. It is 3.6, and that is better than other lenders. I say this because I have seen other lenders recently offer mortgages of 4% of 3.8 at the lowest.
Loan Officer Service
He knew what he was doing but at times it was difficult for us to get in contact with him. He also didn't always let me know when he received our paperwork, and that was frustrating.
Overall Rating
Pros
I like that the institution has a good reputation and has been around for many years. I think we got a good rate and were treated fairly and respectfully. They have also offered to refinance our loan, but it isn't worth it at the moment.
Cons
I don't like that some of their staff is disorganized. They lost some of our paperwork and I had to send in the same files multiple times. That was frustrating and time-consuming.
I closed with y company over 20 years ago, so I can't remember the closing. My mother was advising me, and I remember she said she was satisfied I was getting a fair deal.
Interest Rate
I have 3.8 percent...I'm not sure what other lenders have right now, but I have a spotty credit history and I'm pretty sure I could not get better than this.
Loan Officer Service
They were slow as molasses in January and really insulting about my mother helping me, but they got me the deal I wanted.
Overall Rating
Pros
Cons
Very unmannerly, nonresponsive to my calls, and rude.