Are you also shocked to learn that the best rates are reserved for people with good credit? The best rate is always reserved for the best loan to home value, and that repayment requirement is typical too. Seriously? How stupid are you? 'No closing costs' doesn't apply to the cost of an appraisal. So far I am very disappointed with their service: I am still hoping we will close but if not - just as well!Īnonymous wrote:We are trying to get one right now. Their excuse for the lack of follow up is that their loan volume is very high.
The worst part is their apparent lack of interest (I dropped the ball for a couple of weeks due to travel - NOTHING from them - I basically have to email weekly to get status). They are also not up front about some other things (prime rate is only if Loan to home value is low otherwise the interest is higher you have to repay closing cost if you close it within the first 2 years)
They told us within the first year they will use purchase price (we bought our house 3 month ago) then they called us to say the drive by appraisal (they did not ask to come in) will be 30K lower than purchase and here is our counter offer for a loan. they promised no closing cost but tried to get us to pay for appraisal (come to find out, after explicitly asking, that if we drop our requested loan by less than $50 no appraisal is required).
