Date: January 22, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I felt it was standard. I did a bit of research on the topic because it was our first house and I did not know much about closing fees. I felt what we had to pay was about what we would have paid elsewhere.
Interest Rate
I'm not sure that there is such a big difference between the rate we got from our lender and what we could have had from another lender. We did shop around a little bit, of course, but it seemed that everybody was going to offer us pretty much the same rate. So we chose Guaranteed Rate based on the fact that friends of ours had used them, and a particular loan officer, and were really happy with the service they got.
Loan Officer Service
The service was excellent. I felt he was quick, efficient, he knew what he was doing and always got back to us quickly and was very helpful.
Overall Rating
Pros
I felt we were in good hands. The firm has a good reputation, they're very professional and I did not feel any unpleasant pressure coming from them, which was not the case with some other lenders I talked with.
Cons
There was nothing I dislike about them, honestly. They were very busy but always nice and helpful. And they were real pros, which made us feel more secure.
Date: August 30, 2018 Age: 64 Gender: Female Marital Status: Married
Closing Fee
I had certain fees waived; the other fees were in-line or lower than others as far as I know.
Interest Rate
I have an exceptionally good interest rate; I didn't compare rates but accepted an offer from my financial adviser's bank. My mortgage has since been sold twice.
Loan Officer Service
I had an extended dispute with the person handling my loan because I had printed a page off of my bank account to show an income which I didn't have a w-2 for (it was a foreign pension) and they demanded to see the whole report due to the page # showing on the paper. Had I known, I would have provided the information some other way.
Overall Rating
Pros
Very good rate and efficient handling of the loan process once my problem was settled. Also rolled the closing costs into the mortgage so no up-front costs.
Cons
Since my mortgage was sold almost immediately, I did not have the chance to be satisfied or unsatisfied with the original lender.
Date: February 08, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I have no experience with other lenders. I would say that we probably paid "average" closing costs. They were around $1,000.
Interest Rate
My current rate of interest is about 4.25% Although it is not bad, I am at a variable rate for 30 years. Meaning that I am taking a big risk with my lender. I would say that 4.25% is a very typical rate and that it is similar to what other banks are offering in the market.
Loan Officer Service
She was very nice to us and she broke down everything so that we could understand everything clearly. She would always communicate with us very clearly. Very transparent
Overall Rating
Pros
We had been using NCSECU (aka lender) as our main financial institutions for many years before taking out a mortgage with them. They are very customer oriented they do not have additional monthly fees either. We have personal relationships with their representatives; therefore it was not even a question that we would get a mortgage from someone else.
Cons
I wish they offered other options besides the 2 years to 30-year variable rate mortgage option at the time of $0 down. I wish we could have had 15 years fixed rate mortgage instead.
Date: February 10, 2018 Age: 40 to 49 Gender: Male Marital Status: Unmarried
Closing Fee
Closing costs are driven mostly by NYS. 10% down was reasonable, credit check and small origination fee. The problem in NY was the county fee, recording fee, transfer fee, filing fee for the deed, etc. Everybody and their brother gets paid in NY when you take out a mortgage.
Interest Rate
Wells Fargo had a low down payment requirement. That was very attractive. However, the internet was not the business tool at that time that it is today. Lots of mailing, hurry up and wait, where scans and emails are the standard today.
Loan Officer Service
Called frequently enough and seemed informed. Not very interested in people at all. Had one minor addition at the end that would have derailed the entire deal.
Overall Rating
Pros
Lender offered many programs from VA to non-secured, explained benefits of all and asked for our decision, not a given in this day and age.
Cons
It was very challenging in so many ways to work with a lender who was located across the country. Would have gone with a local back if we had to do it over again, they did not understand the assessment.
Date: February 01, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
SIGNIFICANTLY LOWER THAN OTHERS CREDIT UNIONS AND BANKS IT WAS A VA LOAN SO NO CLEAR OUT OF POCKET COSTS INITIALLY.
Interest Rate
I WAS ABLE TO GET A 3.74% WHICH WAS A LITTLE BIT LOWER THAN OTHER CREDIT UNIONS OR BANKS I COMPARED IT TO.
Loan Officer Service
ALL THROUGH THE PHONE OR ONLINE SO NEVER ACTUALLY MET THE MAN BUT THE PROCESS WAS SEAMLESS AND VERY EASY FOR ME.
Overall Rating
Pros
USAA WAS VERY USER-FRIENDLY AND EASY TO GET A LOAN THROUGH. THEY FURTHER UNDERSTAND THE NEEDS OF MILITARY RETIREES SO THAT WAS A BIG HELP FOR ME AND MY FAMILY.
Cons
I DID NOT REALLY DISLIKE ANYTHING EXCEPT MAYBE THAT THE LOAN TOOK ABOUT THREE DAYS AND WOULD LIKE SOMETHING FASTER.