Date: July 28, 2018 Age: 47 Gender: Male Marital Status: Married
Closing Fee
We had read about closing fees and how horrible they could be. we were advised by the realtor that these fees were much less than that of the market at the time.
Interest Rate
We did not do any comparing. Being our first house we went with the option that we chose because my wife is a teacher and we thought this rate must be good.
Loan Officer Service
The loan officer was the daughter of our lawyer so she was mostly trustworthy although, we feel she did this deal with a friend of hers and maybe they both made money.
Overall Rating
Pros
The bank did not much get into the process. We mainly dealt with the loan officer so in this respect it was a good thing. Nothing to slow up down.
Cons
As soon as we were in the house a good year or maybe two, they sold the mortgage to our current company and I have to wonder why. Not in it for the long haul?
Date: August 30, 2018 Age: 45 Gender: Female Marital Status: Married
Closing Fee
We were not charged closing fees on our house because we were buying it on land contract for 3 years before. One of our agreements was the buyer paid all costs.
Interest Rate
we are on an adjustable interest rate that fluctuates from year to year. We are on a higher rate because of a low credit score.
Loan Officer Service
Our loan officer really didn't do much. The buyer had sold us the house on land contract for 3 years prior so he did most of the work.
Overall Rating
Pros
We are behind a house payment and they seem easy to work with. They understand for now.
Cons
They do send a lot of threatening letters because we are behind.
Date: June 16, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I thought the fee/cost was lengthy. As a first time home buyer, I honestly had no idea that the fees would add up to so much. I was just unprepared for all of the hoops I felt like we were having to do.
Interest Rate
The interest rate offered was competitive with what others were getting as they were going thru the process around the time we purchased our home. I felt like I was getting a fair rate.
Loan Officer Service
My loan officer actually quit during my process so I did not get the personal one on one from beginning to end that most do. I was quite upset but felt like the new officer did the best he could be given we didn't have that personal connection.
Overall Rating
Pros
I appreciate the help getting the process started when deciding to purchase a home. It was easy to go to the website and do the cost calculator and to get pre-approved so I knew what I was looking for.
Cons
I did not like that my loan officer changed mid-purchase but I felt like the bank did everything in their power to help my transition easier.
Date: July 29, 2018 Age: 30 Gender: Female Marital Status: Married
Closing Fee
Our closing costs were below $10,000, I want to say it was around $4000, so I'd say it was about average for the range of our credit scores at the time.
Interest Rate
My husband and I bought our home during a time when interest rates were at a record low, so our interest rate is around 3.7%
Loan Officer Service
We received exceptional service from our loan officer. He went above and beyond to make the process as smooth and quick as possible so that we could get into our home as quickly as possible.
Overall Rating
Pros
Our bank made things as easy as possible when my husband and I were in the home buying process. As first-time homeowners, there were no issues in getting our loan approved and secured.
Cons
There is nothing that I dislike about our lending institution. They've always made things as easy as possible for us in regards to payments, etc.
Date: June 20, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Similar to others since my company was covering my closing cost as part of a relocation package
Interest Rate
The similar rate at the time when I was looking for a mortgage
Loan Officer Service
Prompt, but not super knowledgeable, but it's okay
Overall Rating
Pros
Fairly easy to handle things digitally and having documents available online
Cons
It was a pain to changing billing for insurance payments
Date: June 12, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
I was very fortunate, I paid no closing costs. However, I believe Wells Fargo has lower lending costs compared to others, as I am no in the process of purchasing another home.
Interest Rate
I have a 4.5 % interest rate, which was very good compared to other lenders that were slightly higher.
Loan Officer Service
My Lender went above and beyond working with me and helping me get a judgment lien off my credit, the companies customer service excelled.
Overall Rating
Pros
They have great customer service skills, you never wait in line to get through, they always explain everything in detail.
Cons
There really wasn't anything I didn't like about this lender my experience was amazing.
Date: June 05, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
We actually had the seller pay for the closing costs instead of paying to fix some of the problems. I think it was like 3000 dollars, which is what we expected
Interest Rate
My interest rate is 4.125%, which at the time of purchase seemed to be the going rate for a good credit score. I'm not really sure what it's at now, but I'm happy with that rate
Loan Officer Service
He was a friend of a friend, so he treated me fairly. I believe he found me the best rate he could. he even got me a $100 gift card after closing!
Overall Rating
Pros
They seemed like honest good people that treated me fairly and didn't take advantage of a first time home buyer. I
Cons
They were a small bank and their website was kind of crappy. That's really the only thing I can think of.
Date: December 01, 2017 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
It was basic costs. The seller took care of this expense so we didn't have to pay anything out of pocket. That helped make the fee seem more palatable.
Interest Rate
We purchased in 2013 when the rates were very low. My husband worked in the mortgage industry at the time, and the person we purchased the house from also worked in the business so we didn't have to deal with realtors. We knew the process, and so we actually went through our community bank that we worked at to get the loan, who then sold it to Wells Fargo. We looked around for rates and found the one we got was a little bit lower than the average.
Loan Officer Service
Our loan officer was actually my husband's boss, and we were very satisfied with the time it took to complete the process.
Overall Rating
Pros
The initial lender was a community bank and we knew the employees personally because we also worked there. We knew that our mortgage would be sold to Wells Fargo, and we were satisfied with the communication we received when this occurred. The process was explained and we had no issues.
Cons
I don't really have any dislikes about the Lender. They were there for us when we had questions, and were prompt in completing the process for us.
Date: December 01, 2017 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
I am a grouch when it comes to closing costs, I feel there are so many "fees" that are just ways for banks/brokers to make money. I put a 3 down because no matter where you go, closing costs are always ridiculous and probably a huge source of income for most financial institutions.
Interest Rate
We got a 3.25% rate, which isn't bad, I would say Wells Fargo was pretty competitive. I had to pay down a couple of credit cards in order to get a better rate, which is where my unexpected cost (above) came from. We did do some rate shopping but Wells beat out BOA and Frost, so we went with them.
Loan Officer Service
She was absolutely outstanding. She went above and beyond, answered her personal phone during off hours if I had any questions, went to bat to get us a good rate, told me what I needed to do as far as paperwork, signatures etc. She was super all around, personable and so helpful.
Overall Rating
Pros
Completely transparent, Wells shows everything and I have no doubt, there were no hidden costs, I am confident I got a good, honest deal with this mortgage and it is so easy to pay my mortgage online (we already have checking/savings with Wells).
Cons
I only had one instance where I had a problem. I had to get something for the house notarized and the lady at the local branch WOULD NOT NOTARIZE IT! I was so shocked, she claimed she wasn't allowed to notarize this....I was shell-shocked...WHAT? I'm getting the mtg. with this bank!_x000D_
I got the manager and he corrected the situation but her refusal left a bad taste in my mouth. I think she was being racist. The manager really apologized to me, the notary claimed she had never seen the form before.
Date: June 17, 2018 Age: 20 to 29 Gender: Female Marital Status: Married
Closing Fee
The closing costs were supposed to be fully paid by the seller but I had to pay $800 out of pocket for final expenses. The title company was the fees came from the lending company had average fees but the seller paid them.
Interest Rate
I have not found a lower interest rate than what I received when purchasing the home. I selected the lowest interest rate available to me.
Loan Officer Service
She worked from a home office and would deliver documents to me at work and would work fairly quickly on a personal level to get things done quickly.
Overall Rating
Pros
I liked the personal level of service that she was able to give. Although, one realtor wouldn't take an offer from us because he didn't like our lender on a personal level.
Cons
I did not like being in the dark when waiting for loan approvals. I had very little explained to me during the process and mostly just signed when asked to sign.
Date: June 05, 2018 Age: 20 to 29 Gender: Female Marital Status: Married
Closing Fee
It's been 3 years now so it's a little hard to remember, but I believe that our closing costs were almost negligible. I remember our Lender being surprised at how little our closing costs were, saying it was one if not the lowest she had ever seen.
Interest Rate
My husband got a loan through Navy Federal for a VA loan for our property. The VA interest rate was unbeatable especially with no money down. I don't think we would have been able to buy a house at all without the VA loan.
Loan Officer Service
They were very nice (Navy Federal always is), and once they wrapped their heads around the VA loan (not a normal loan, even for them), they were quick and efficient and very helpful. This was our first home and we had a lot of questions and confusion sometimes and our loan officer made sure to take the time and explain everything to me and my husband.
Overall Rating
Pros
Navy Federal has always been friendly and responsive with us (we bank through them as well). They offer 24/7 member services so even when we were going over things at 9 pm, we could call them and talk it over. They also go over and above to find answers to difficult or confusing matters and always call us back with an answer. We are really very happy with them.
Cons
The only thing is that there are no physical branches near us. The closest one is an hour and a half away, and when things are time sensitive such as a check needing to be given to someone that day, they can't mail it to us in time, so we have to drop everything we're doing to drive an hour and a half to go get the check. Or in other instances paperwork needing signatures etc. and they can either mail it to us or we can go to the branch. That was a bit of a hassle at times during the home buying process as I remember.
Date: June 05, 2018 Age: 20 to 29 Gender: Female Marital Status: Married
Interest Rate
The interest rate from my lender was about the same as the other lenders that I looked into. Everyone was very close to each other.
Loan Officer Service
The loan officer was slow to respond to communication. I was never really sure what was going on as she had trouble keeping us up to date. I did close on time, but even that was up in the air a day or two prior to closing.
Overall Rating
Pros
The lender has the process down and the website is very user-friendly. The rates were competitive and the instructions for completing the paperwork were clear.
Cons
The lender had serious issues in responding to communication and keeping us up to date. The whole process did not go smoothly and there were always unanswered questions. The pre-approval for the mortgage was quick, however, we hadn't even received final approval two days before closing.
Date: December 01, 2017 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
The fees and closing cost were the same at my lender as they were at other lenders that I had researched.
Interest Rate
I am a Veteran and used the VA to get a loan. The interest rate at my lender was the same as other lenders. I chose my lender based on the fact that it was where I already do the majority of my banking and it was the easiest.
Loan Officer Service
My loan officer was kind of hard to get into contact with. And since I chose an online bank as my lender it was really annoying that I couldn't just drive to the branch and talk with them in person. I had to rely on them answering their phone.
Overall Rating
Pros
I liked that the lender was experienced and had everything laid out and ready to go for me. The whole process was relatively easy and explained thoroughly.
Cons
I wish that the lender was more responsive to my inquiries. While I was pre-approved, I had to wait until less than 24 hours before I was due to close before I got final word that the loan had been approved.
Date: December 01, 2017 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
My closing costs where built into the mortgage and were lower that what I had seen at other companies at the time. I also got money back for closing costs.
Interest Rate
It the time of my mortgage it was a very competitive interest rate. Since then, though the rates have dropped and it is a bit higher that I would like right now.
Loan Officer Service
I have very little interaction with the loan officer. I applied online and then had a few short phone conversations to finish up the "paperwork". It was very easy.
Overall Rating
Pros
I have been a long time customer with the Lender and have many different types of accounts with them. There have never been any problems with them and they seem very straight forward and honest.
Cons
The only thing that I dislike about the lender was that they have been calling me a lot recently about refinancing my mortgage. They leave very long messages stating the same thing over and over.
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: August 31, 2018 Age: 59 Gender: Female Marital Status: Married
Closing Fee
The closing costs of our lender in January were comparable at the time to the closing costs of other banks or companies, and in some cases, they were lower. We were satisfied.
Interest Rate
The interest rate is reasonable and was competitive in January at the time we purchased our house. Since that time, interest rates have gotten higher.
Loan Officer Service
Our loan officer was fantastic. She responded any time I sent her a text or called her. She was not only available when I needed her, but she resolved everything in a timely manner.
Overall Rating
Pros
The only interaction I have had with this lending institution has been this particular mortgage. What I like about them is the mortgage loan officer that I worked with, the interest rate we obtained, and their service of the loan since.
Cons
The only thing I do not like about the lending bank is that they have not provided a paperless option for us, and there is not an online bank option with them where I can check real-time. I have to wait for the paper statement/receipt.
Date: September 03, 2018 Age: 32 Gender: Male Marital Status: Married
Closing Fee
I was mostly happy with the closing costs. I think that that they were decent and comparable.
Interest Rate
I have a great rate, they were a very good rate when I applied. I got one of the best rates.
Loan Officer Service
The loan officer was good she was very friendly and helpful.
Overall Rating
Pros
I liked the bank, but shortly after closing, they sold our mortgage.
Cons
They sold our mortgage, and I did not even make one payment with them. Going through the mortgage process was fine with them.
Date: August 11, 2018 Age: 42 Gender: Male Marital Status: Married
Closing Fee
The closing costs with this lender were very comparable to most lenders, we were not worried about this based on the great interest rate we got
Interest Rate
The current mortgage holder was part of a refinance. The rate offered by them was almost half of everyone else. We are very happy
Loan Officer Service
The loan officer was very patient and helpful throughout the whole process. Was always there when we had questions. Was very transparent with the whole process
Date: June 22, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
It was a long time ago, but I remember being very happy with the closing cost, most of the fees were waived because I was purchasing with a VA loan.
Interest Rate
Our initial mortgage rate when we bought the house in 1994 was 7%, but we refinanced in 2007 to 3%, and we are very happy with that
Loan Officer Service
This was before the internet, they were very upfront with us about fees, rates, and length of time everything would take.
Overall Rating
Pros
Our mortgage has been resold to a couple of institutions over the last 24 years, we are currently with Bank of America and are very pleased, we send them the money, and that's pretty much it, no issues.
Cons
Since we hardly have any interaction with Bank of America, we really have no problems with them, we send them a check each month, and that's it.
Date: December 01, 2017 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
It was $0 closing cost, they were rolled into the loan. being both brands new out of school and new worker it was nice for us.
Interest Rate
They are a very large bank that deals with a lot of people. Very good and very easy to use
Loan Officer Service
She was very professional and very polite. She worked very hard and answered all of our questions
Date: September 01, 2018 Age: 37 Gender: Male Marital Status: Married
Closing Fee
I always feel like the fees and closing costs are pretty predatory. The companies know people need loans, and they add extra fees everywhere they can for every possible service and for each part of the process. There should just be one flat fee for the loan and it should be disclosed up front.
Interest Rate
I think my interest rate is around 4%. That is pretty comparable to other interest rates available right now. I would just always like the interest rate to be lower.
Loan Officer Service
The loan office is always kind and helpful on the phone. She also gave us complimentary magazine subscriptions and sends us cookies every year. She suggested a refinance at just the right time too.
Overall Rating
Pros
All of my mortgage adjustments and billing can be completed online. Our loan office is local so that helps with getting in contact with that person when we have questions.
Cons
Anyone I have talked to at our lending institution besides our loan officer has seemed like a salesperson. They seem to always be pushing additional products or trying to add additional fees and services to our loan.
Date: June 30, 2018 Age: >60 years Gender: Male Marital Status: Married
Closing Fee
Very minimal. Few costs involved with the loan, aside from the actual interest on the loan. We have been completely satisfied with the charges and interest on the loan.
Interest Rate
Reasonable, We have been delighted with the service of our lender and hope we can do business with Credit Human in the future.
Loan Officer Service
Yes, the loan officer was of the same caliber as the loan company. Engaging, prompt and courteous. We were satisfied with the service he provided.
Overall Rating
Pros
The service, promptness, charges, interest rate and the ease of qualifying. We hope we can do business with Credit Human in the future if and when we move.
Cons
I'm not sure what I'm supposed to say here. There is nothing that I can complain about. We are still given timely reports in the mail about the status of our loan, interest, principal, taxes, etc.
Date: December 01, 2017 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
We bumped 3 grand off the purchase price of the house after doing an inspection. That covered all the closing costs, so I'm satisfied there.
Interest Rate
Not really sure how mine compared to others. My lender told me he matched the best rate he could find on the market and it wasn't a set rate by his bank.
Loan Officer Service
No complaints here. I haven't really had to contact them for anything. I'm paying my bills on time and everything is good, so I don't know much about my loan officer.
Overall Rating
Pros
He was a friend with the realtor, which is a friend of my family's. So I trusted that he wouldn't try to screw me over. He was a nice guy, he gave me a $100 home depot gift card after closing. He was quick to answer any of my questions and gave me good advice for my first home purchase.
Cons
He had a pretty annoying voice. Very high and squeaky. He's still sending me spam-like emails also that I'm tired of seeing. But just from a business perspective, I don't have much negative to say.
Date: June 26, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
The lender fees were low compared to local lenders. After receiving an initial pre-approval, I talked to a lender recommended by my realtor and ended up staying with quicken.
Interest Rate
I used rocket mortgage by quicken. It was extremely fast and the lender I was assigned was responsive and friendly.
Loan Officer Service
He was in constant contact and very helpful. He seemed very interested in making sure that we got exactly what we wanted at a price we could afford.
Overall Rating
Pros
None of the fees changed from when he first quoted us, until closing. They were very transparent and customer friendly.
Cons
I did not dislike anything about the lending institution. The only downside to using quicken was that there was a statewide grant that they did not offer.
Date: December 01, 2017 Age: 20 to 29 Gender: Female Marital Status: Unmarried
Closing Fee
We had less than 1000 in closing costs mainly because we bought our house for less than it was worth and the seller was really motivated.
Interest Rate
Our interest rate is fixed so it was about the same as most other lenders but the process was much easier and faster then most others
Loan Officer Service
Our Loan officer was fantastic and even managed to get another 10000 knocked off the price of our home while we were still in negotiation.
Overall Rating
Pros
Our lender was very easy to work with. The process was really painless and our officer made sure we understood what we were signing as well as the terms. He was happy to answer any questions we had.
Cons
By definition being "approved" is a nerve wracking process. The approval process wasn't "bad" or hard it was just something you worry about when it's going on.
The fees and closing costs were what I anticipated. These types of fees do tend to be too high, regardless of the lender.
Interest Rate
The interest rate was higher than my primary bank, but the difference was not significant. The bank I used was able to close faster than my primary bank.
Loan Officer Service
The loan officer was fine for the most part. However, she failed to get my signature on one document, which meant I had to get some documents in person and that was a problem.
Overall Rating
Pros
The lending institution was able to close rapidly. Given the seller' timing, that was an important factor to me in this process.
Cons
The lending institution's personnel were a bit disorganized and failed to get my signature on critical documents. This caused some issues in the days right before closing.
Date: August 30, 2018 Age: 28 Gender: Female Marital Status: Married
Closing Fee
Closing costs were covered by the seller, I did not incur any of that expense. I believe that the fees for the lender were rolled and paid out by the escrow account. I know that nothing was paid out of pocket by myself.
Interest Rate
The interest rate that we are locked in at is from 2015 when it was a buyer's market in my location. It was a really really good rate, and I am very satisfied and happy with it.
Loan Officer Service
A mortgage broker was used, so there is not an actual loan officer that I have ever meant or actually had any sort of contact or interactions with.
Overall Rating
Pros
I like that it is easy for me to use the online aspect of this bank. Payments online and via phone are so easy and convenient.
Cons
Guaranteed Rates customer service is sorely lacking. The people that I speak with cannot speak very good English, are very difficult to understand, and at times can be very very rude.
Date: September 02, 2018 Age: 56 Gender: Male Marital Status: Married
Closing Fee
The closing cost on the last financing was $0 and the paperwork was simple to fill out. No other lender could beat $0 so I didn't see any reason to pursue different options based on the closing costs.
Interest Rate
My current mortgage is within 1/4 to 1/2 percent of the best mortgages available. Given the amount of work and extra cost involved in re-financing, I don't see any great value in pursuing a new mortgage at this time. The rate is very comfortable for the amount of my mortgage.
Loan Officer Service
Everything was done by email and did not require any additional face to face meetings. The process was simple, efficient and quick and allowed me to gather information on my time.
Overall Rating
Pros
The institution keeps in contact with me by email and is proactive in when it may be a good time to refinance. They have an excellent paperless payment system so I don't have to worry about getting the payment in on time and are quick to respond to my questions.
Cons
Other than a really silly name, they do tend to contact me perhaps a little more than I like. But since they are mostly emails, this has not been an inconvenience in any way.
I was able to fold many of the closing costs into my mortgage.
Interest Rate
My interest rate is a little lower than other lenders.
Loan Officer Service
It's been a long time since I had an interaction with my loan officer. I believe I was satisfied.
Overall Rating
Pros
I like the statements that come in the mail monthly. Even though I have direct payment set up online, I appreciate the monthly mail showing me my progress on the loan.
Cons
That they sell my information for marketing purposes. I recently mailed a form in to have that stopped.
Date: July 04, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
We got to the closing cost and were prepared to pay $500, however, they "forgot" several items and since this was my first time purchasing a home I didn't know if they had really forgotten or were trying to screw me over. In the end, it cost $1500 for closing costs. Again I was not very happy with my lender and their lack of expertise on what should have been disclosed up front.
Interest Rate
I wanted a fixed rate, 30-year mortgage. The original mortgage company (HSBC) tried to push an adjustable rate mortgage. Yeah, I don't think so. That will get you into trouble. You never know what your "projected" income will be for sure. I stood firm and said fixed rate/30 year mortgage. The payments are at a level I continue to be able to afford. I am halfway to paying the mortgage off. I am very satisfied with my choice. However, if the lender had had their way it would have been the fixed rate mortgage. So I was not pleased with them trying to push that on me.
Loan Officer Service
I feel like my loan officer didn't really do much other than battle with me on what type of mortgage I was going to get. My credit score was good. My job was secure. And yet I felt like they were treating me as if I was a high-risk loan. As far as the closing costs, my office didn't seem to know what was supposed to be included and fortunately for me, I came prepared to pay more than what they said.
Overall Rating
Pros
I guess on the whole they were ok. Again it was my first time purchasing a home and I had no real comparison on how it should have been. I would have preferred someone to who more knowledgeable about the how process but my officer seemed ok.
Cons
I wished my officer had been more knowledgeable and had not battled with me on the type of loan I knew I wanted. I get I was inexperienced but I was a good candidate for a loan. I was made to feel like an idiot.
Date: June 26, 2018 Age: 40 to 49 Gender: Female Marital Status: Unmarried
Closing Fee
I did not have a closing cost because the seller took dare of that during the purchase process.
Interest Rate
The interest rate of my lender compares to other lenders. There was nothing significant about it even with excellent credit.
Loan Officer Service
I do not recall the details about the loan officer. I do not remember anything specific that stands out the Loan officer.
Overall Rating
Pros
I like the ease of use of the online application process. I was approved for the loan relatively quickly
Cons
I did not notice anything that I dislike about the lending institution or bank.
Date: September 04, 2018 Age: 38 Gender: Male Marital Status: Married
Closing Fee
The fees we paid struck me as pretty reasonable. It was quite a while ago that we got our loan so I'm not entirely sure.
Interest Rate
We got our loan when the rates were very good. We have enjoyed a great rate for as long as we have owned our house.
Loan Officer Service
They communicate well and clearly. There is not a lot of extraneous communication. They don't seem to sell our information to advertisers.
Overall Rating
Pros
I really have little feeling for them one way or the other. We were assigned them as our lender so while they have been fine to work with, I have no great feelings for them.
Cons
I really have little feeling for them one way or the other. We were assigned them as our lender so while they have been fine to work with, I have no great feelings for them.
Closing costs for my mortgage loan were perfect. I was only obligated to pay $500 on closing costs for a $70,000 home. The $500 paid for the inspection fees inquired during the home buying process. The remainder of the closing costs fell on the seller. Couldn't have any lower costs at any other lender.
Interest Rate
The interest rate on my mortgage loan from regions is exceptional compared to that of other lenders. When getting preapproved other lenders would only offer me high-interest loans due to this being my first home loan. However, regions kept the mortgage interest low based on my credit report and bill payment history.
Loan Officer Service
My loan officer was terrible. She was very disorganized and would constantly call me back into her office multiple times per day to sign a paper she forgot about or couldn't previously find at the last minute. She had me fill out paperwork that wasn't even needed for the loan and she failed to return any of my phone calls. Additionally, she was always late to our meetings, never gave me an update on the status of my loan, and she forgot to set up an escrow account. During final closing on the house, my loan officer showed up 2 hours late to the meeting.
Overall Rating
Pros
The lending institution gave me low closing costs, a loan when other places wouldn't, and a good interest rate. They offer an online portal that I can access to see everything I need to know about my loan, make payments, and see fund distributions.
Cons
Every year the calculate my escrow wrong so it's either me getting a refund or me having to pay them thousands more every year depending on which way they screwed up. Their communication sucks because they never answer the phone, office personal knows nothing about your loan or Mortgage payments, they never return a phone call or email, and they seem to have an overall I don't care attitude.
Date: July 05, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
We were only given one quote and was perfectly satisfied. We went to one company and didn't compare prices. We were too excited about the purchase to shop around.
Interest Rate
It was 7.25. Most other places didn't finance because it was an older mobile home. We were only given one quote.
Loan Officer Service
We were extremely satisfied with the loan officer. Never bothered with shopping around. This officer was on the ball.
Overall Rating
Pros
They treated us with respect and made us happy to decide to purchase the home. It felt like a done deal from the beginning.
Cons
I did not dislike anything about the lending institution that we used. There were no unexpected problems at all concerning the deal.
Date: July 01, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I think their closing fees are a bit high honestly. The rate was lower so I was okay with paying a bit more, but were pricier than some other options.
Interest Rate
I felt they were pretty fair overall. Most of the rates didn't have a lot of fluctuation, but I got an added benefit as they were the preferred lender through my company
Loan Officer Service
I really didn't even know who my officer was. Being a large corporation, I'm pretty sure I got passed around quite a few times to different people.
Overall Rating
Pros
Rates were good and the overall experience was backed up by a larger company so they could more accurately deal with the sheer volume of requests they get.
Cons
Such a big company that you really don't get any personal touch. You should expect to be treated as a number because you really are with something this big.