Date: June 16, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Interest Rate
I got an FHA disaster loan and also bought at the very bottom of the market, there was no significant difference in interest rates between national lenders. I had shopped around and the rates were identical. Because I had a disaster loan from the FHA and it is a rare product I had to choose a bank that could handle the loan.
Loan Officer Service
Because I had a disaster loan (due to a tornado that destroyed my rental home) I had a difficult loan process, the woman who managed my loan did an exemplary job on doing research and went above and beyond to get my escrow to close by midnight on new year's eve. The process was pretty difficult but she really helped me by escalating situations to higher ups when needed.
Overall Rating
Pros
I have been a customer with Wells Fargo for thirty years so I was very happy that they were able to handle my weird mortgage, it makes it very easy to pay, transfer money, and open lines of home equity if need be. The only issue I had, and it seemed to be commonplace across the entire real estate world was getting people to understand that the FHA disaster loan that I had was a zero down loan and that it did indeed exist.
Cons
Well, I've never had any problems with them but I have heard a lot of negative press about their unscrupulous business tactics which really puts me off admiring them, I don't trust any of these banks, they're all crooked and dirty. But other than that they disclose everything in a timely manner and are extremely easy to work with overall.
Date: June 16, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Fee's and closing costs were expected and did not throw us off guard at all during the house buying process.
Interest Rate
The interest rate was really good for us and has allowed us to pay down our mortgage a bit quicker than we had expected.
Loan Officer Service
The lender switched us between two different loan officers so there was some missed communication between us and them. This slowed down our house buying process, unfortunately.
Overall Rating
Pros
The tools, interest rate and straightforward nature of the lending process were good. Overall a positive experience.
Cons
The load officers were lacking a bit in communication with us. Took a while to get answers and there was some lost paperwork on their end during our house buying.
Date: June 11, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I have no experience with closing costs or fees from other lenders, but I was able to walk in, sign and walk out with the keys with relative ease and have no reference to how much the typical closing fees are.
Interest Rate
Since I bought the house when the market crashed, I was able to get an incredibly low-interest rate that, to date 10 years in, no one has been able to match or beat,
Loan Officer Service
I have never spoken with my loan officer. I do not know their name or even if anyone is actually assigned to me. In the last 10 years, I do not think I have needed them for anything.
Overall Rating
Pros
I like the interest rate that I was offered for the home. That is the best thing about this lender. Additionally, I do like that it was easy to set up recurring payments online so that it is automatic and I do not have to worry about anything
Cons
I have heard about their illegal and unethical activities and it makes me wonder if I was ever scammed OR if they will do it again in the future. If I was offered a lower rate with any other lender and no closing costs, I would snatch it up to be away from a company that participated in MASS illegal activities (and still no one has served time...)
Date: December 01, 2017 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I really am not sure how they compare with others. Isn't this sort of a state thing where different things are required? For instance, I had to pay for an attorney and the escrow company and the title search, but in other states, the escrow company handles the attorney stuff.
Interest Rate
I'm FHA and I bought at the very bottom of the market, so I have a 3.5% rate. I am very happy with that. I also got a disaster loan so that's like a standard 3.5% down FHA loan but with 0% down instead.
Loan Officer Service
when my loan wasn't going to close because of something the underwriter couldn't manage to get done, the loan office went above and beyond to push the loan through at the last minute. I am very happy with her.
Overall Rating
Pros
I like the lender because they have easy to use online tools and the physical branch is right down the street from my house which makes it easy to do stuff when I need to
Cons
well, its Wells Fargo, at this point in history there isn't much to like about them. they're shady and have compromised a lot of people's credit because of their opening of unauthorized accounts.
Date: December 01, 2017 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
The closing costs were about what I would expect from other banks so it was not that bad.
Interest Rate
I go a VA home loan so our interest rate was rather good at the time. I am quite satisfied with it.
Loan Officer Service
Loan officer went on vacation in the middle of us getting our house so that was a mess to work through when getting all of our works in a row in his absence.
Overall Rating
Pros
The lender was quick getting us approved, but after that everything was pretty bad.
Cons
We were not able to get in touch with our lender as easy as I would have liked and it became a very bad issue when signing our papers.
Date: June 05, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
I was lucky that the seller paid a great deal of the closing cost. I'm sure others didn't get the deal we did
Interest Rate
I started out at 5.25 % at the time, 13 years ago. That was the best we could get at the time. I remortgaged five years later at 2.75 % which is a great rate
Loan Officer Service
He was great, took care of all the details and kept us informed. We didn't meet him until the end as we were living out of state prior to the move.
Overall Rating
Pros
I like USAA. They deal mainly with military and they are very transparent. I do all my business with them, car insurance, etc. I feel like a valued customer whenever I have to deal with them.
Cons
The only thing I don't like is that most transactions have to be done online or telephone and not at a physical place of business.
Date: July 16, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
The fee and/or closing costs were all fair I think. They seemed reasonable at the time. That has been a while ago.
Interest Rate
Our interest rate is 9.99%. I think that is a lot lower than other interest rates of other lenders. That rate is fair.
Loan Officer Service
They were nice and fair. They worked speedily and gave us attention. They got our loan approved quickly. They were efficient.
Overall Rating
Pros
We had gotten behind in payments again. They were willing to give me an extension. That will make us be able to get back on track.
Cons
There is not anything bad other than a few times we got a bill for insurance premiums but that is paid by our mortgage lender. They were just late sending the payment.
Date: December 01, 2017 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
We had no closing cost. I am not sure if this was the doing of the lending company or our realtor but either way, the sellers paid all the closing costs not us.
Interest Rate
They were much faster processing our request and seemed to be more honest. They gave us a good rate but didn't tell us that we could afford something we couldn't just to get a business like the others did.
Loan Officer Service
He was always there when we called. Being first time home buyers and only 25 years old we had a ton of questions he had answers to them all. He was very patient with us and made sure we understood every step of the process.
Overall Rating
Pros
They gave us a good rate and are easy to work with. There is always someone to help when you call or email them and it is easy to make payments. We had an issue with the bank not sending the payment over once and called to tell them they fixed it so we didn't have to pay the late charge because they believed us or at least thought we deserved another chance.
Cons
We have had issues making payments a few times. Once it was our personal bank's fault and the other time their system thought we had entered our information wrong but they fixed it both times. And like almost every other business their website has moments when it's not exactly great but it's usually resolved pretty quickly.
Date: June 17, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
I did not have any closing costs associated with my loan since it was a VA loan and all closing costs are either covered by the VA or rolled into the loan.
Interest Rate
Considering that I had a prior bankruptcy, I was offered a rate of 3.75% which was substantially lower than other lenders and I was perfectly happy with this amount.
Loan Officer Service
Overall I'd say that I was satisfied with the service except for the loan officer's attitude. This individual was rather short on patience and it showed.
Overall Rating
Pros
I liked the fact that they were quite willing to work with me even though I had a bankruptcy on my credit report. Some other companies would work with me, but they would not offer a very good rate.
Cons
Mostly it would have to do with the loan officer I was dealing with. His attitude shouldn't reflect on the entire company, but he is the one I was dealing with and to me, he was the face of the company.
Date: June 11, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
I was fortunate to have a VA Loan and therefore I did not have any closing costs associated with my new mortgage.
Interest Rate
Considering that I had a bankruptcy on my credit report, I expected to get a higher rate. However, the Money Source was 2 points lower than anyone else at 3.75%.
Loan Officer Service
This was the only downside to my new loan. The loan officer had a pretty bad attitude and did not want to be bothered with any questions.
Overall Rating
Pros
I liked the fact that they were willing to work with me considering that I was getting a mortgage on a mobile home and had a prior bankruptcy on my credit.
Cons
The only dislike I had was dealing with the loan officer. This person had a very bad attitude and I probably would have gone elsewhere if I had other options, but I didn't.
Date: December 01, 2017 Age: 20 to 29 Gender: Male Marital Status: Unmarried
Closing Fee
Closing costs were more than we anticipated but not overly high. Roughly 6000 paid out of pocket before we could continue with our mortgage and closing on our home.
Interest Rate
We feel we got the best deal on mortgage interest rates in our area. It is 7% on a 37K loan that lasts for 13 years.
Loan Officer Service
She was very knowledgeable and would call with any questions or concerns. She made sure multiple times that everything was in order and proceeding correctly and that we were as informed as possible through out the home buying process.
Overall Rating
Pros
She was available 5 days a week by phone or in person. She was extremely well versed and was able to put everything into language that we, as first time home buyers, can understand. She was very helpful through out the process and helped us immensely.
Cons
None. It was a very quick and painless process. She even informed us of there being one small snag that could potentially hold us back for up to 30 days. She was above and beyond helpful.