The closing costs were about $3,000 which was not bad considering we did not have a realtor t pay commision fee to as well
Interest Rate
I obtained my loan in 2008 which was before the recession started, and I bought my home for more than it is worth today, therefore I am upside down on my mortgage, and my mortgage payments are low, but they would be lower if I was able to modify my loan or refinance, but I have to pay down the negative equity before I can refinance and after applying for a loan modification twice, is still have not been approved for a loan restructure. So another way that would help is to lower the interest so that more of my payments are going towards the principle, but that requires either a refinance or restructured terms which they have refused to offer to me, I am beginning to think I will have to stop making payments so that I can claim a hardship to force the bank to restructure the loan, but I just increased my credit score to where I want to be and those missed payments would mess that up
Loan Officer Service
The loan officer was polite and prompt and easy to get a hold of when I had questions. She worked had to verify my application so that we could get a decision quickly and we closed on the loan in 30 days
Overall Rating
Pros
I like that they are very professional and approachable, and when talking to them,m they are listening and not doing multiple things while trying to handle me the same time, that individual attention makes a big difference in the efficiency and comfortability of the time we spent with the officer
Cons
I did not like that there were so many documents needed and luckily for us, we already anticipated most of what they needed before our first appointment, and the remaining documents we were able to get quickly, but if we would have needed time to get those things, I can easily see how the process would drag on and on like some people have described the process
Date: August 30, 2018 Age: 32 Gender: Male Marital Status: Married
Closing Fee
We did not have much for closing cost, they were low cost compared to other companies we looked into compared to the bank of America.
Interest Rate
the interest rate is lower than most other lenders. They offered different types of loans and options but this option and interest rate was good compared to other companies.
Loan Officer Service
She was helpful through the process but did make a mistake towards the end, but the bank of America ended up [paying for her mistake and did not make us pay for it.
Overall Rating
Pros
The process was easy and smooth throughout the entire thing. It was easy to get the information I needed and to talk to my representative.
Cons
I disliked the fact that she made a mistake and did not tell us about a 3000.00 dollar charge, this would have been nice to know. The bank did end up paying for it, but it took more work on our side.
Date: December 01, 2017 Age: 20 to 29 Gender: Male Marital Status: Unmarried
Closing Fee
My company offered a no cost closing special. I feel like this was a very good offer compared to other banks. I think it was offered due to the fact that we were existing customers.
Interest Rate
My interest rate seems to be lower or the same as what some others charge for their loans. I feel I have good competitive rate.
Loan Officer Service
I did not like the loan officer at all. She was very disorganized and did not ever have the paperwork she needed to get the transaction completed.
Overall Rating
Pros
The only thing that I liked about the lender was the rate that they offered for the loan.
Cons
I did not like that the company was so disorganized. They never had the paperwork that they needed to get the transaction done.
Date: September 01, 2018 Age: 51 Gender: Female Marital Status: Married
Closing Fee
I'd say the fees Wells Fargo charged were about average for the Central Texas area in the early 2000s. It helped that I was able to roll the fees into the mortgage.
Interest Rate
I am paying a high rate of interest because when I first took out the mortgage interest rates were higher than they are now. I haven't been able to refinance because I own a manufactured home on land, and I can't find a lender.
Loan Officer Service
In my opinion, the loan officer did an adequate job, but nothing special. It was a straightforward fixed rate mortgage which didn't require much work or expertise.
Overall Rating
Pros
The main point in their favor is that they were willing to finance a manufactured home on land in the first place. The employees I've dealt with have all been competent and polite.
Cons
I dislike the fact that they won't consider refinancing my mortgage at a lower rate of interest. I have never missed a payment or been late with one, but I can't get a refinance from them.
Date: August 30, 2018 Age: 39 Gender: Male Marital Status: Married
Closing Fee
I got good closing costs for the time. Nothing was unexpected. Of course I would love a lower cost, but I think I did good on this as well.
Interest Rate
I got a good rate for the time, or at least an average rate. I think it's like 4%. Of course I would love a lower rate, but I think I did good.
Loan Officer Service
He was very friendly and amicable towards me. He made me feel reassured and comfortable in what would have been a nerve wracking deal.
Date: June 07, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
I found the title insurance to be surprisingly expensive. This was the additional $1,950 I referenced earlier. Because we were late in the closing process when the cost of that insurance was disclosed to us, I did not have the inclination to shop around for other insurance providers.
Interest Rate
The interest rate we received was 3.25% for a 15-year loan, and that was near the minimum of ranges on offer at the time. However, when you consider the closing costs for those loans - our loan carried no points - this was the best value possible at the time.
Loan Officer Service
Our loan officer was extremely responsive to our questions. Part of the reason why we went with Guaranteed Rate is that our realtor has a lot of confidence in the individual who walked us through the process. There were no surprises and no stressful moments.
Overall Rating
Pros
The lender was very responsive to our questions. They competed hard on rates and very much acted like they wanted our business. Applying and receiving approval documentation took very little time, as I recall.
Cons
They could have been more transparent upfront about our expectations for title insurance. They recommend their own subsidiary, which is shady and explains why the premiums are so high. But other than that I was completely satisfied.
Date: June 06, 2018 Age: 40 to 49 Gender: Male Marital Status: Unmarried
Closing Fee
Almost impossible to do a direct comparison on closing costs. My hope is that they were not unreasonable compared to other lenders.
Interest Rate
Did not do a direct comparison of the interest rate. Did receive cash back as part of a promotion between my employer and lender.
Loan Officer Service
In general, felt the loan officer could have been more helpful guiding us through the process. In particular, was unprepared for the documentation involved for the funds used in the down payment.
Overall Rating
Pros
I do not know that I would have used this lender without the deal provided by my employer. Overall, I expect the service was adequate, because the loan did get made, and the closing was smooth.
Cons
My biggest dislike was that the loan was sold almost immediately after we closed. Not the action, but the fact that I didn't know it was going to happen. No issues with the mortgage once it was transferred.
Date: July 30, 2018 Age: 50 Gender: Female Marital Status: Married
Closing Fee
Although it has been quite a while since we purchased our home, I don't remember fees being a problem. We originally financed with Wells Fargo and throughout the years our mortgage has been "sold" to different services. I really don't remember what fees we paid.
Interest Rate
We pay 3.75% interest on our loan. Compared to friends and family, our rate is very low. We would not need to consider refinance for the term of our loan.
Loan Officer Service
Seterus has been very helpful and they are trustworthy. We applied for a modification and they assisted in lowering our interest rate to 3.75%. No fees for the modification but a few years added to the term.
Overall Rating
Pros
Wells Fargo was a trustworthy servicer
Cons
I don't know that I truly trust any servicer. I go in with the feeling that I need to defend or protect myself. I have worked with services in the past who have lied and seemed to want us to default on our loan. Seterus has proven to me that they are truly wanting to help. I have nothing at the moment to dislike.
Date: September 02, 2018 Age: 27 Gender: Female Marital Status: Married
Closing Fee
Our closing costs were covered by the seller, so we did not pay for anything, making us very happy and satisfied with the deals that were struck.
Interest Rate
Our lender was able to get us a low-interest rate of 4.50% because we are veterans and used the VA loan to get our home.
Loan Officer Service
The service we received was top notch, the conversations were always friendly and professional, the communication was always above and beyond what we expected, and overall we were very satisfied with what we got.
Overall Rating
Pros
Our lending institution has been extremely friendly and helpful in all aspects of our loan. They are always quick to respond to any questions or concerns and have always been helpful when I have questions or concerns.
Cons
We are unable to pay our bills online, we must either send in a check every month or else call and pay over the phone. It seems a bit outdated and inconvenient to not have online bill pay in the twenty-first century.
Date: August 04, 2018 Age: 25 Gender: Female Marital Status: Married
Closing Fee
the closing cost seemed to be the average cost based on what I had heard
Interest Rate
I thought I received a fair interest rate considering my credit history. I was happy with the offer. it was better than the others
Loan Officer Service
they were attentive and listened to everything I had to say. they did not make me feel rushed
Overall Rating
Pros
it was a very easy process. I love being able to do it online. it made my experience so much better than having to go to a different location.
Cons
some of the responses seemed generic like they were automated. also when I first used the website and was unsure of my next step they bothered me a lot with phone calls and emails.
Date: August 07, 2018 Age: 22 Gender: Female Marital Status: Married
Closing Fee
Our closing fees were very cheap compared to others. We were very happy to save some extra money and satisfied with the whole process.
Interest Rate
It depends on your credit score. So some people have better interest rates than others. But ours is pretty much in line with the average rate for our credit score.
Loan Officer Service
Our loan officer was fantastic. He worked with us to raise our credit score before applying to get a better rate than we would've and was available 24/7 for any questions/concerns.
Overall Rating
Pros
I liked everything. We had an all around good experience. I liked best how personable and responsive they were. They handled all of our new home buyers concerns/questions flawlessly.
Cons
I really can't think of anything I truly disliked. I don't remember having any sort of problems with them. If I had to pick anything at all, the fact that they did not have a physical location so we could meet in person would be my only dislike. But it really wasn't that big of an issue.
Date: December 01, 2017 Age: 20 to 29 Gender: Female Marital Status: Unmarried
Closing Fee
They are good priced compared to others. Just not a fan of closing costs. The fees are to cover something that I think would be covered via interest paid.
Interest Rate
Very comparable and happy with it. They got me a great rate. The rate is competitive even for someone with "good", not great credit.
Loan Officer Service
They have been amazing thru it all. Very helpful. They took great care in every step from the beginning all the way till the end. Working with my attorney not against. me.
Overall Rating
Pros
Cons
The minimum credit score was a bit high which made it harder for me in the beginning without fixing some things.