I think I paid the average costs to close the mortgage. I was not surprised by something crazy. It was a long time ago though, so I'm sure it would be low now.
Interest Rate
I have a fluctuating interest rate that goes with the average. Sometimes it's great, and other times it's not.
Loan Officer Service
I have never heard from my loan officer at all. I have never even had anyone from my mortgage company call ever. You would think they would, but mine does not and that makes me dissatisfied.
Overall Rating
Pros
I like that they are willing to work with you to get you what you need. Although debt is never good, it's good to have a house to raise a family in and it's good that mortgage companies like to put you in a house.
Cons
I dislike that they prey on those of us that have questionable credit. They make you think you can afford this and give you all of this credit when in actuality, you can't and you don't. Most people don't realize this.
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: July 27, 2018 Age: 36 Gender: male Marital Status: Married
Closing Fee
In terms of paying additional fees and closing costs, no I was not satisfied. Nobody likes extra costs. However, Chase did their part in explaining the fees to us and gave us a pretty close estimate so there were no surprises at closing.
Interest Rate
We did some shopping around and found some rates that were close but not as low as what Chase offered. Some were even ridiculously much higher (Wells Fargo *ahem*).
Loan Officer Service
The loan officer was there at all times to help us, even after business hours. Any question or comment we had, she would usually get back to us within an hour or so.
Overall Rating
Pros
The loan officer we dealt with at Chase was very forthcoming and went through multiple options with us as to what would net us the lowest costs in the long run (to buy points or not, considering of refinancing, etc.). Also, she was very helpful and straightforward in answering any questions we had. We were very satisfied and we even referred a few of our friends to her.
Cons
As with all businesses/banks, they're out to make money and some of the additional fees were obviously part of the loan officer's commission. I don't remember exactly how much it was but I recall it being a fair amount. Still, I would've liked to pay less.
Date: July 27, 2018 Age: 60 Gender: male Marital Status: Unmarried
Closing Fee
I was able to save a point on closing costs the week of the day of closing when I found another lender that made me a better deal. CUSO Mortgage matched the other guys deal once they confirmed it was real.
Interest Rate
CUSO Mortgage is the bank and I suppose they were as good as any lender at the time. Most were charging about the same rate then.
Loan Officer Service
He was as good as any I suppose. Took care of the paperwork and didn't bother me for stupid stuff much.
Overall Rating
Pros
CUSO Mortgage took care of the details and did not bother me with silly crap. I like that a lot as I have many better things to do.
Cons
The entire lending process is a pain in my ass. Always was, probably always will be. Too many people with their hands out for money. The bank dealt with them all efficiently though. All I had to do was sign and move.
Date: June 04, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
It costs us a little more than we expected in closing costs because we didn't know what we were doing and had no experience. They were able to roll the costs into the loan amount though.
Interest Rate
We mortgaged through a local credit union so I'm pretty sure we got a very good interest rate. It was lower than other banks we tried and when it went down a bit later on we refinanced to get the lower rate.
Loan Officer Service
We used a local credit union so we had worked with our loan officer before. She is very personable and did a great job explaining what we were going to need down and what we would need later on.
Overall Rating
Pros
Our lending institution was AWESOME! We went in many times to talk to them about various questions we had while the process was underway. They were very good at explaining everything and help us in each part of the process.
Cons
It takes so long to get anything done and in the books lol. It took forever to get the paperwork filled out, and then approved, The time between each phase of the process seemed so long to us.