Date: August 17, 2018 Age: 54 Gender: Female Marital Status: Married
Closing Fee
The closing costs seemed a bit high compared to others, especially with the FHA added fees for mortgage insurance.
Interest Rate
The lender was equal to, if not a bit lower than other lenders. We received a 3.125 rate almost 2 years ago and were happy with that rate at the time.
Loan Officer Service
She was very good and communicated well. She maybe could have explained all the costs that would come up a bit more in detail, but overall she was very good.
Overall Rating
Pros
They were quick to respond and take care of the details necessary. I would use them again in the future.
Cons
I dislike the underwriting process. Too many last minute things that could have been addressed earlier in the process. It was very annoying, to say the least.
Date: June 13, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
Due to it being an FHA loan, there were higher fees due to the mortgage insurance requirement. I was not thrilled about paying that but really had no choice. Now I could qualify for a conventional loan and get rid of that cost if I wanted to.
Interest Rate
The interest rate at the time I borrowed for my mortgage was 3.125%. I really don't know exactly how that compared to others, as I did not shop around. We were having trouble getting approved and this one approved us, so we went with it. It seemed to be a very good rate.
Loan Officer Service
Our loan officer was very good at her job. She was very thorough and communicated well during the process. I would use her again if I could.
Overall Rating
Pros
The lender was efficient and processed the loan quickly. The application process was fairly smooth, with a few extra documents needed, when it went to underwriting. She was very nice and professional.
Cons
I didn't really dislike anything about it. If had anything negative it would be about the underwriting department, which always seems to be so picky and seems to do everything last minute rush to get closed.
Date: June 11, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Again, seemed pretty standard. We rolled the closing costs into the loan so I think all in all we only ended up paying something like $2500 out of pocket total to buy the house in things we paid for up front instead of rolling into the loan.
Interest Rate
If I remember correctly, our interest rate for the time (~8 years ago) was very comparable to all the other interest rates out there at the time. I believe it is around 4.25%. We haven't bothered refinancing since then, so it hasn't changed.
Loan Officer Service
She did a fine job. No real problems to report. She was very friendly and personable and helped us through the process just fine.
Overall Rating
Pros
They were very friendly and helpful through the entire process. This was the first home we had ever bought so it was fairly intimidating for us, but they helped us through and everything went fine.
Cons
I don't really know what I would say that is negative about our experience buying our house. I mean it's always a stressful thing but I feel for us it all went pretty smooth with no real problems.
Closing costs are high compared to rates offered by other lending companies. There are a lot of choices out there now, so it's much easier to find lower cost loans.
Interest Rate
At the time a procured the loan, the rate was competitive, but it is not at the current time.
Loan Officer Service
I never met with a loan officer, so I don't really have an opinion. My credit score was good enough during the period - and it was during the "lend to anyone" period - that getting the loan was very easy.