Date: August 30, 2018 Age: 34 Gender: Female Marital Status: Married
Closing Fee
I have not had to deal with a fee/closing cost because we have not put our house up for sale. However, when we did purchase the property this closing cost was already paid for by the seller.
Interest Rate
I think that we have a low-interest rate on our mortgage compared to other lenders. My husband and I own a three bedroom, two bathroom house with a patio out back and big fenced in yard. These houses are usually 1500 a month or higher, however, because we have a lower interest rate our payment is only 856.46 a month so it came out really cheap.
Loan Officer Service
I really like our loan officer because she takes care of the problems when they arise. One time we had fallen behind on our payments and it was close to being considered bankrupt, however, she took the time to explain to us that the money had to pay all together instead of separate payments. I did not understand at first because I had made a couple of different payments instead of one big payment. She printed out the receipts and stated that the money was in a holding account and would not be paid out until it was put together. Ever since then we have been paying our mortgage a month ahead so no more complications occur in our account.
Overall Rating
Pros
I like the service of our bank and how the tellers treat every customer that comes in with a smile. In a lot of institutions, they are always just focused on the money aspect however, the workers at our bank try to make everyone smile even on a bad day. Also, the service is always fast there may be a little wait however, it turns out fast in the end.
Cons
The one thing that I do not like about my bank is the fact that they charge you for overdraft fees. One time I did not realize that we were so close to having a low number in our bank that I charged something not realizing there was not enough money in the account. After I soon got a letter written by our bank saying that our account balance had a negative number and I would have to add money to fix it.
Closing costs in NY are very high. There are fees that are paid here that are not paid in other parts of the US. It does make financing quite expensive.
Interest Rate
The rate was very competitive with other lenders. I am a mortgage specialist and was able to do a lot of comparison shopping. I didn't want to use an online lender. I preferred a traditional bank.
Loan Officer Service
Being in the business myself, I like someone who is very thorough and detailed. My loan officer was that. He was terrific, always giving me information and providing me with updates along the way. I have since recommended him to many people.
Overall Rating
Pros
They are a reputable company that has been around for a long time. They offered traditional products as well as newer products. It was an easy process and they were able to help me finance my dream.
Cons
Sometimes when I call for service it can be a hassle. You get the runaround and can get transferred from one area to another,
Date: July 27, 2018 Age: 58 Gender: Female Marital Status: Married
Closing Fee
There was a very minimum closing cost involved in my loan. I researched this before applying for my loan and feel like I got one of the best deals.5
Interest Rate
I think my interest rate is good compared to some of the other loans that I have researched and I am happy with my interest rate.
Loan Officer Service
She was very helpful and answered all of my questions. She always answered the phone when I called and was there for me when I needed her.
Overall Rating
Pros
They were very informative and had various options to choose from. If I didn't understand something they explained it in words and terms that I could understand.
Cons
I can't think of anything that I didn't like about the company. There were no negative feelings or any kind of discontent.
Date: June 27, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I don't rely on other lenders close cost buy of what I saw online mine was more or less what I expected it to be.
Interest Rate
I think if I could have gotten something better but like they take the lost Score of them all it affected me to not get something under 4%
Loan Officer Service
He had great customer service but sometimes you can clearly see that he wanted more to close a deal than to help us get a great offer.
Overall Rating
Pros
It was known about this company because a few friends have loans with them and they work well with over the phone help.
Cons
For a bank that does not have the office near there clients it takes to long on hold to speak with them they should hire more people
Date: July 28, 2018 Age: 32 Gender: Female Marital Status: Married
Closing Fee
There wasn't very much regarding any extra/hidden fees, as the loan is a VA loan there were rules against that sort of thing.
Interest Rate
We have an extremely low interest rate. It was locked in at one of the lowest rates I had seen in mortgages for a 30-year fixed.
Loan Officer Service
He was very easy to work with, very helpful as to the steps we needed to take to expedite the home buying process and making it as easy as possible for us.
Overall Rating
Pros
We have been with Wells Fargo for years. Although they have had their issues, we have never had any problems with them. They have always been friendly and great to work with.
Cons
Probably my only complaint is that since we moved to a different location, we don't have access to any physical locations of the bank itself.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
Everything seemed pretty standard and straightforward there, there were no surprises, and the fees, in general, were pretty low - the purchase was a private sale by owner, and I had the unusual situation of buying my home from my landlord - so I didn't actually have to move; I had already lived here for about 6 years at the time. The seller took care of some of the fees for me, like the survey, title check, and appraisal. The fees for the mortgage itself were pretty standard, and I was actually given a $500 gift card through a special promotion my loan officer helped me qualify for, that canceled out a chunk of the fees on top of that.
Interest Rate
I honestly didn't shop around too much for interest rates; rates were very low in general at the time, and I have excellent credit, and so the rate I received was 3.625%. It was comparable across the board, and shopping around was splitting hairs over small fractions of a percent. I recall the rate was definitely slightly better than what my local bank (whom I asked first) offered, though I do not recall exactly the amount. The mortgage consultant who helped me came strongly recommended by a trusted friend with a lot of experience buying properties, and that played a bigger role when comparing my options than anything else. I was willing to forego 0.01% or whatever the small difference was, for peace of mind I had somebody honest and helpful taking care of me.
Loan Officer Service
My loan officer was extremely helpful and gave a lot of extra advice on the process that didn't even have anything to do with the loan itself. Like said, we did a private sale by owner - without real estate agents involved, and this being my first purchase, I had no idea how anything worked, and he stepped me through the whole process. My loan is an FHA loan, and the FHA rules changed approximately 5 years ago when I was going through the process. (I believe you have to pay mortgage insurance for the duration of the loan now; back then the rule was you could cancel it after 5 years if you've reached a certain LTV.) My loan officer went above and beyond to make sure my paperwork was in and taken care of, and we got it in literally the day before the change went into effect, so that I'd fall under the old rules. It was a little stressful but he made sure to over-night documents that needed to be signed and that sort of thing to ensure it all came together on time. I'm coming up on my 5 year anniversary in July - and looking forward to the savings from canceling the mortgage insurance!
Overall Rating
Pros
My mortgage is the only product I've ever gotten from Wells Fargo; they aren't conveniently located to do other banking with. But my loan officer was absolutely amazing, and now that I'm in repayment, everything has been smooth and simple. Their online payment system is easy and works. I've had no issues or need to really contact them since.
Cons
I really don't have anything to complain about. If I had to really nitpick, the first couple years they seemed to have trouble calculating my escrow, and my payments would change annually. I know that's fairly common as taxes & insurance change anyway, but the first year or two was really drastic. Luckily on year one, they were charging me too much - so I actually got a large refund. Then the second year they under-charged and my payments went up significantly. It seems to have settled down and everything is more accurate now though, and the payments change very little and I know what to expect.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
We did not research closing cost fees and were surprised when we had to pay almost $3000 in additional costs dealing with closing.
Interest Rate
Wells Fargo had a 5.75%. Chase offered 6.00% CitiBank offered 5.85%. Local bank flushing bank offered 7%
Loan Officer Service
They helped us secure enough money to be able to make an offer on the house. The service was quick and I was generally happy but was shocked at some of the costs.
Overall Rating
Pros
I felt confident that we would be able to secure the loan and make an offer on the house in time. My loan officer was very confident in his ability to work under tight constraints.
Cons
I wish I knew the total upfront costs entirely of all closing costs, but it seems they fluctuate somewhat. I still think it's not the best practice.
Date: December 01, 2017 Age: 40 to 49 Gender: Male Marital Status: Unmarried
Closing Fee
Closing costs are driven mostly by NYS. 10% down was reasonable, credit check and small origination fee. The problem in NY was the county fee, recording fee, transfer fee, filing fee for the deed, etc. Everybody and their brother gets paid in NY when you take out a mortgage.
Interest Rate
Wells Fargo had a low down payment requirement. That was very attractive. However, the internet was not the business tool at that time that it is today. Lots of mailing, hurry up and wait, where scans and emails are the standard today.
Loan Officer Service
Called frequently enough and seemed informed. Not very interested in people at all. Had one minor addition at the end that would have derailed the entire deal.
Overall Rating
Pros
Lender offered many programs from VA to non-secured, explained benefits of all and asked for our decision, not a given in this day and age.
Cons
It was very challenging in so many ways to work with a lender who was located across the country. Would have gone with a local back if we had to do it over again, they did not understand the assessment.
Date: February 09, 2018 Age: 20 to 29 Gender: Female Marital Status: Married
Closing Fee
The closing cost was normal. I actually rolled that into my mortgage since I didn't have much cash up front.
Interest Rate
I was very happy with my interest rate. I did not have to pay PMI because of prior military service. Therefore, I save a couple hundred dollars each month off my mortgage.
Loan Officer Service
I was provided all of the documents needed, but there were times in the process where I felt like I had to follow up with them when it should have been the other way around.
Overall Rating
Pros
They were able to sponsor my loan so I am grateful for that. They were also able to give me a good interest rate.
Cons
They could have been more personable regarding my loan. They could have informed me about cost-saving plans/ tax credits for purchasing a home.
Date: January 10, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
I feel that the fees were all explained up front and were lower than average.
Interest Rate
We used our local credit union because they approved us with less than perfect credit. The rate is higher than average and we will look to refinance soon.
Loan Officer Service
She was very helpful and worked with us to get the financing done quickly. Also didn't feel any judgment for the less than perfect credit.
Overall Rating
Pros
The process was easy and well explained. The loan officer from the company was professional and helpful. All in all the experience was much less stressful and confusing than I thought it would be.
Cons
You have to be a member to receive a loan through this credit union, and as stated previously, the interest rate is higher than average although I do not believe this is the fault of the lender.
Date: August 31, 2018 Age: 25 Gender: Male Marital Status: Married
Closing Fee
Our closing costs were only $500 so we are sure this is significantly lower than most other Lender companies out there.
Interest Rate
My home loan company Empower Federal Credit Union has a significantly lower interest rate compared to other lenders in the market. We did a lot of research on it.
Loan Officer Service
My loan officer provided great service to us. She was always there no matter the time of day to help us with any questions that we had.
Overall Rating
Pros
I loved everything about my lending bank. We were first time home buyers so we had a million and one questions. They were always willing to answer every question we had for them and made us feel like they were really looking out for our best interests.
Cons
The only thing that I did dislike about this lending bank is that the few times I had to call the 1-800 number, there was a significant wait time. So, maybe they need to get more workers for the phones?
Date: August 31, 2018 Age: 30 Gender: Female Marital Status: Married
Closing Fee
I did not have any closing costs
Interest Rate
The interest rate is very close to what other banks were offering
Loan Officer Service
they did what I expected them to do
Overall Rating
Pros
They were fine. No major issues throughout the process
Cons
They were a bit impersonal during the process and asked for a lot of documentation
Date: June 25, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
The closing fees were very reasonable and all explained up front. There were zero surprises and absolutely no hidden costs. They even waived a refinance fee when we needed slightly more money than originally anticipated.
Interest Rate
The interest rate was on the high end of average due to our lack of established credit history. But given that everything else about the experience was great, I would still recommend this institution.
Loan Officer Service
She was knowledgeable, professional and extremely helpful. She was available whenever we had a question and seemed genuinely invested in our loan process.
Overall Rating
Pros
The staff was friendly and very competent. The location and the process were easy and there were no surprises. When we needed more money they released the additional funds within 72 hours.
Cons
There was nothing really to dislike. All staff was wonderful and the process painless. The only issue was that the local branch was open, not open Saturdays, so I had to take time off for closing.
Date: June 19, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Interest Rate
All closing costs were described upfront and were not excessive. We even had a portion of the fees waived when we needed to borrow more money than originally anticipated.
Loan Officer Service
Our loan officer was knowledgeable and courteous. The process would have seemed very confusing if not for her expertise and guidance.
Overall Rating
Pros
The staff was knowledgeable and courteous. They provided the loan we needed and even provided extra financing in order for us to make some needed repairs to the home.
Cons
The interest rate was high, but I do not believe that was the fault of the lender. The only other difficulty was the operating hours of our local branch. They were not open on Saturdays and were closed before I could get home from work every day except Thursdays.
Date: December 01, 2017 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
I didn't know much about closing fees before the process so I wasn't too worried about it. No matter what you're going to have to pay them.
Interest Rate
When we first started looking into which bank we wanted to go with we looked at all the interest rates they were offering. We noticed the local smaller banks had lower interest rates.
Loan Officer Service
My loan officer was quick to respond when we had questions. She was also very good at explaining everything to us.
Overall Rating
Pros
They are easy to talk to and quick to answer your questions. They explain things in a very good understanding way.
Date: December 01, 2017 Age: 20 to 29 Gender: Female Marital Status: Unmarried
Closing Fee
I was surprised by the application fee which was $375 which wasn't expected. I did some research and saw that other lenders actually charged closer to $500-$600 or more. We were getting a better interest rate so we were happy
Interest Rate
You have to belong to the bank. We were able to lock in at 3.25% which was lower than most lenders out there. We also checked locally where it was closer to 4%
Loan Officer Service
She helped us out greatly. If we had questions she would find out the answers for us quickly and get back to us. We also had an issue where we had to extend our rate lock which wasn't our fault but the mortgage company they dealt with. They did not charge us for this for it wasn't our fault but theirs.
Overall Rating
Pros
They explained the difference to us about a 15 year and 30-year mortgage and told us exactly what it would cost us both ways. They answered all questions that we had regarding paperwork, taxes, and how the payments would come out.
Cons
We were actually fortunate that there wasn't anything we disliked about them. When an error was made by their financing company they stepped up and straightened out the issue and didn't charge us.
Date: December 01, 2017 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I felt it was standard. I did a bit of research on the topic because it was our first house and I did not know much about closing fees. I felt what we had to pay was about what we would have paid elsewhere.
Interest Rate
I'm not sure that there is such a big difference between the rate we got from our lender and what we could have had from another lender. We did shop around a little bit, of course, but it seemed that everybody was going to offer us pretty much the same rate. So we chose Guaranteed Rate based on the fact that friends of ours had used them, and a particular loan officer, and were really happy with the service they got.
Loan Officer Service
The service was excellent. I felt he was quick, efficient, he knew what he was doing and always got back to us quickly and was very helpful.
Overall Rating
Pros
I felt we were in good hands. The firm has a good reputation, they're very professional and I did not feel any unpleasant pressure coming from them, which was not the case with some other lenders I talked with.
Cons
There was nothing I dislike about them, honestly. They were very busy but always nice and helpful. And they were real pros, which made us feel more secure.
Date: August 03, 2018 Age: 46 Gender: male Marital Status: Married
Closing Fee
Closing costs were low, but we were able to roll some of them into the mortgage. With the lower interest rate based on paying an additional point, it became a no-brainer.
Interest Rate
The interest rate I received was lower than any advertised rate I could find. I was not expecting to pay points, but it made a lot of sense to do so to get the lower rate. I was happy with the rate and paying the extra point.
Loan Officer Service
The loan officer was professional and kind. He knew the answers to all of our questions and was very flexible on when and where we could close on the mortgage.
Overall Rating
Pros
I would do business again with Visions FCU. they are local and easy to work with when I need any advice, help, or support from them. I like that they are a local credit union.
Cons
I really don't dislike anything. Though they do not have a 24-hour customer support line because they are a smaller bank. I have not had any mortgage-related after hours issues so it is not a problem for me. I'd rather have the lowest rate I can find.
Date: June 05, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
Closing costs were reasonable and pretty standard for the mortgage I have. I was a little surprised to learn of the 1.25 points to pay in order to get that rate but it reduced some standard costs that I would have had to pay anyway. I would have paid half of the points anyway in fees if I did not go with the 3.25 with 1.25 in pts. It was worth it.
Interest Rate
The interest rate I received was the lowest I could find. Lower than any other advertised rate for the term. I closed on a 20 year fixed rate at 3.25% and still very satisfied with it.
Loan Officer Service
very knowledgeable and professional. I like most that he said he would do something and when and he was always ahead of schedule or right on time. no delays.
Overall Rating
Pros
I like that Visions is a local bank that I can contact at any time. Very customer focused and friendly. I feel they have a hometown attitude and feel when I speak with them.
Cons
Not much to dislike. I could have used a better explanation of the points structure to get their best rate but for me, it was a minor charge that I could deal with easily or roll it into the mortgage.
Date: September 03, 2018 Age: 61 Gender: Female Marital Status: Married
Closing Fee
The closing costs were moderate. We had the sellers of the home we purchased pay for the closing costs, however, so it wasn't a huge issue or a dealbreaker for us in terms of choosing a bank for a mortgage.
Interest Rate
We were able to secure a 3.4% rate with Loanstar. This was far better than competitors in our region. Somewhere over 4%. We were extremely happy with our rate. They were more conservative with approving us and we had to raise our credit score a bit to get this rate, but it was worth it.
Loan Officer Service
Our loan officer was incredibly patient with us. We didn't have much knowledge about mortgages at all. He was incredibly patient and walked us through all the steps such as closing costs and PMI. We didn't realize how much taxes would factor in as well. We were very appreciative of all his knowledge and information and help.
Overall Rating
Pros
I like Loanstar because they have very aggressive and competitive rates. By far they were the best rates in our region. The loan officer we worked with was incredibly professional and smart and helped us every step of the way.
Cons
The only negative I can think about Loanstar is that there are not as many locations around as I would like. I like a bank to have different branches in different areas so I can go there from home or work or from activities.
Date: September 02, 2018 Age: 35 Gender: Female Marital Status: Married
Closing Fee
The closing fees were not as bad as I thought it would of been. We were given a discount for having our mortgage automatically withdrawn out of our account each month. This helped with our mortgage points.
Interest Rate
Our interest rate was pretty typical for the time we bought our house. It would of been better if the credit companies did not mess up pulling our credit but the mortgage people said there was nothing we could do about it.
Loan Officer Service
Our service with our loan officer was good. He was able to help us with any questions we had and so far we haven't had any issues with our mortgage and the process.
Overall Rating
Pros
I like about the bank is they are not a huge company but still have several locations around where we live. This makes it easier to access them with questions and keeps it more personal. I like when you feel more like a friend than a customer.
Cons
The only thing I disliked about the bank is that they were not willing to look into the issue our credit pulling caused. It would of delayed our loan process but still I thought was worth looking into.
Date: July 12, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
I didn't feel like we paid a lot of closing/lender fees. It felt very reasonable compared to others and compared to friends that we spoke with.
Interest Rate
I have a very high-interest rate because our credit was not the best. I wish we had waited and gotten a better interest rate. I think we are close to 8%
Loan Officer Service
The person was fine. They explained everything and made sure we understood the process. I felt that they answered all of our questions and made sure we understood the process.
Overall Rating
Pros
I like that everything is online and easy to find. I feel that they have always worked with us and always made sure we understood exactly what was going on.
Cons
I dislike that there is no local branch and that I can't just stop in if I have a problem Sometimes its easy to talk to someone in person and get your questions answered.
Date: June 30, 2018 Age: 30 to 39 Gender: Female Marital Status: Unmarried
Closing Fee
I feel that the closing costs were similar compared to others. I did not incur additional fees that I was unaware of and did not get the feeling that they were "ripping me off".
Interest Rate
I had shopped around for different companies that would offer a low-interest rate. My mortgage company gave me the best interest rate in a short amount of time.
Loan Officer Service
My loan officer was easy to contact and returned my inquiries in a timely manner. I felt that he explained everything to the best of his ability and it was generally clear. He answered all my questions.
Overall Rating
Pros
I like that the lending institution made it easy to apply for a loan. They also have online tools available. I am able to make online payments and if I have to call them, they usually have decent wait times.
Cons
I do not like that they don't have a physical location. Sometimes, it would be nice to speak to an actual person in person, especially when going over options for refinancing, etc.
Date: February 13, 2018 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
We compared closing costs and fees as well as we could with other banks, credit unions and institutions supplying their fees and costs and found the bank we decided on to be about the same.
Interest Rate
The interest rate that we finally decided on using was under the current rate that we had shopped around various banks, credit unions and institutions.
Loan Officer Service
The loan officer was able to break down the process and explain each step and how long each step would take for getting a mortgage for our home.
Overall Rating
Pros
We saw our lender as a guide and partner instead of a business seller, so much so we felt relaxed and confident about the mortgage process.
Cons
We chose our lender based partly on being a local lender who could respond to our questions quickly, but ultimately our mortgage was sold to an institution out of state and we lost that local factor
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.
the seller covered half of closing cost and the remaining was integrated into the loan.
Interest Rate
the interest rate is low because it is a rural development housing loan. v
Loan Officer Service
he was professional and straightforward. he helped us learn what we could afford and still live comfortably
Overall Rating
Pros
they were quick, friendly, and straightforward but did not judge our credit situation
Cons
it was hard to get an appointment scheduled because of limited office hours and we worked longer than their business hours
Date: September 03, 2018 Age: 66 Gender: Female Marital Status: Married
Closing Fee
My mortgage had no closing costs other than state recording fees.
Interest Rate
My rate is lower than most of the lender rates currently.
Loan Officer Service
My loan officer responded to all of my texts, emails, and calls within a short period of time. Their answers were correct and their advice was perfect for me.
Date: September 01, 2018 Age: 36 Gender: Male Marital Status: Married
Closing Fee
No one likes closing fees/costs which add a significant sum to your overall costs but it's part of every mortgage. Closing fees were about average and the same as compared to the other banks we looked at.
Interest Rate
We shopped around and compare rates with other banks (Wells Fargo, HSBC, smaller local banks) and Chase had the lowest rate among all and was up to 1% lower. Considering a 30-year mortgage 1% can add up to a lot of money.
Loan Officer Service
Our loan officer was always ready to assist us and answer our questions and help us out. She was even there to help us a lot of times after office hours. She made the process really smooth and easy and we even referred some friends to her after we closed.
Overall Rating
Pros
All costs were presented up front and there were no last second or hidden fees that popped up. Also, there are many Chase locations throughout my area so if any time I needed help with anything, I could just stop by conveniently.
Cons
The extra fees are annoying and I hate them but there really isn't much you can do as their part of every transaction. I mean, the bank has to earn money too.
The closing costs were comparable to other mortgage lender companies. Closing costs are too high generally, across most lender companies.
Interest Rate
My interest rate was higher than the others offered, but I was able to close faster with the lender I have, I would consider refinancing under the right conditions.
Loan Officer Service
My loan officer was not at the level I expected. She made several mistakes on paperwork that made the process leading up to closing far too difficult.
Overall Rating
Pros
The lending institution/bank offered a quick closing time, which was important for the purchase of my home. The seller had a specific time frame to meet.
Cons
The lending institution had a higher interest rate than other lenders. Also, there were issues with the paperwork with made closing harder than it needed to be.
Date: June 28, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I guess closing costs are standard but it was surprising how significant it was and how there were all these other small miscellaneous fees ($50 for document shipping?). All these small costs added up to a decent chunk of change.
Interest Rate
I felt we got a really good rate for a 30-year mortgage, maybe even the best at the time of the application. We had shopped around at other banks and were offered rates that were .25 to 1% more than what Chase offered us. Given the duration of the mortgage and the size of the loan, even a small percentage point increase in the interest can mean a good amount of money paid. We got a really good rate and I hate to be greedy in saying that "I would've preferred a lower rate" but I would've preferred a lower rate.
Loan Officer Service
The loan office we had explained to us in detail and walked us through the steps of the mortgage process and answered all our questions promptly. Sometimes we weren't even at the bank and called her up because we had comments or questions and she responded within the same day most of the time. She was helpful throughout and we felt that she was so good, we even referred friends to her.
Overall Rating
Pros
The staff was friendly and helpful and they had many locations throughout the area we live in. Also, we already had personal accounts at the bank which probably made things easier but I felt we might've received some perks because of it (upgraded to premium checking at no charge, free checks, no charge cashier for checks for mortgage down payment, and most importantly a low mortgage rate [I really do feel that already have an account there had an effect on this]).
Cons
Sometimes it feels "commercialized" as they try to get you to sign for the highest or best accounts but I guess that's the same with every bank. Luckily for us though, we had a loan officer who was honest and helpful and worked with us through each step of the mortgage process. She didn't "wing it" or just go through the motions to earn her commission.
Date: August 31, 2018 Age: 68 Gender: Female Marital Status: Married
Closing Fee
I am not sure what the closing, etc. was when we obtained our mortgage... We looked at the overall picture and found that Citi was our best choice.
Interest Rate
At the time of purchasing our mortgage, the rate was around 7%. After shopping around, we were able to obtain our mortgage for 6.25%. We felt this was very good.
Loan Officer Service
Our loan officer came to our home to discuss the process. He was very polite and knowledgeable about everything. We did, however, do our due diligence prior to his visit and knew the answer to most of the questions we asked him. He was spot on. We have always been happy with Citi's customer service.
Date: September 01, 2018 Age: 27 Gender: Female Marital Status: Married
Closing Fee
Our lender helped us qualify for first-time buyer programs which allowed our closing costs to be cut by 40%. We are very happy with our closing costs
Interest Rate
I was offered interest rates of around 4.75% by other lenders while my lender offered 4.325% among other perks (No PMI with 3% down) so we are very happy without an interest rate.
Loan Officer Service
Our loan officer was incredible and made the purchasing process much easier than expected. I have and will continue to recommend her.