Date: September 04, 2018 Age: 54 Gender: Female Marital Status: Married
Closing Fee
Being that it is a credit union, which is member owned, the mortgage fees are a lot less than the regular bank or mortgage broker's. As our loan did not exceed a certain amount, the credit union waived the requirement to get an appraisal and used the real property tax valuation. That saved us about $800.
Interest Rate
The interest rate we have on the loan is 5.25% APY. That seems quite high. There are other banks or mortgage companies that advertise locally and on the internet that lower rates are available. Not sure if there's a catch on the offer.
Loan Officer Service
John was great every step of the way. He met with me and provided the forms and information needed to apply. Once we had applied, he reviewed the package of documents provided and met with us in person and worked with us to the end when the loan was approved and the loan funded. Excellent service!
Overall Rating
Pros
The employees at MB Financial are very friendly and greet you by name. They offer excellent customer service.They usually have higher interest rates offered on savings accounts which they call share accounts.
Cons
What I don't like about the credit union is that they have periodic to constant turnover of some of the tellers. The old timers stay around and have been there for many years. Some tellers leave after about 6 months. I like dealing with the old time customer service representatives.
Date: July 30, 2018 Age: 45 Gender: male Marital Status: Married
Closing Fee
They were comparable to others and added the convenience of being through the builder
Interest Rate
My home was a new construction so I used the builder financing arm to obtain a mortgage. They were competitive and made the process easy
Loan Officer Service
The loan officer was with the builder so was very aware of the process and timeline.
Overall Rating
Pros
Ease of use. They were affiliated with the builder so we're connected to the process
Cons
Nothing really. I guess I could have gotten a slightly better rate by doing more comparison shopping
Date: June 08, 2018 Age: 20 to 29 Gender: Female Marital Status: Unmarried
Closing Fee
The previous owner decided to take care of the closing cost per our agreement on purchasing the home so I have nothing to compare with other then I am very happy with the outcome compared to some people I know who ended up having over three thousand dollars closing cost. Mine was nothing out of pocket and definitely in my eyes a stress-free ending to a stressful home purchasing process.
Interest Rate
I have received a 4 percent interest charge that will not change while I have the loan. I think that is a very good interest rate for what I have seen other people get for purchasing a home. I did receive a letter from the broker to compare other prices and interest rates from other companies and MB Financial was the best one to go with. A lot of first-time owners are hit with a PMI fee and I did not get that as well which was a relief for me.
Loan Officer Service
I am very happy with my loan officer. I have not had any hidden fees or changes since I purchased my home 2 years ago. My loan officer was available 24/7 for any questions or concerns. Anything I was unfamiliar with doing or did not know what it meant she was there to explain in detail and give examples of what it meant. I also recommend my loan officer to anyone in search of a home, she was a pleasure to work with and really made the process as smooth as possible.
Overall Rating
Pros
I liked everything about the lender I am working with. They have not changed a thing since I have worked with them. My interest rate is still the same and I have not received any hidden fees. I have been with them the last 2 years and I am beyond satisfied. I have actually mentioned them to other people I know are in the search of a home because they are that great at service. When I have had an issue with my account, I forgot my password to get on and pay, the customer service was so friendly and helpful and fixed the situation that day. I am very pleased with the loan officer I have. I have had nothing but a positive situation.
Cons
I had trouble setting up my account for the mortgage payment. I actually had to call and get step by step instructions which they were very friendly but the website for set up was a little confusing, other than that there really is no complaint that I can say. They are always on time with sending payment reminders and end of year documents. I really like this company I really am struggling to find something negative to say.