Mortgage lenders

2012-02-15_1329319103I wish all Mortgage lenders were the same but they are not. Right now I have some clients working with a lender at USBank. The loan program is wonderful but the individual handling it is not. He told the borrowers how much money they would need for closing costs and then doubled the dollar amount the day before the closing.

This same individual tells home buyers that they have to use certain home inspectors because they understand the home loan. What they really understand is how to write an inspection report that will make it past the loan underwriters and that isn’t even the point of a buyers inspection.

If I see this lenders name on a pre-approval letter again I’ll ask the buyers to find another lender because the loans he works with don’t close on time either.

Affinity Plus Federal Credit Union used to be a great place to get a home loan but they changed their “process” several months ago and my advice as a real estate agent is to stay away from them because the loan may not close on time and the new process is very stressful. The emphasis is on the process, which doesn’t seem to work to well rather than on the home loan. Like any really bad company Affinity manages to completely ignore any kind of complaint.

They seem to be understaffed and if that one underwriter goes on vacation or calls in sick nothing gets done. It is hard to get a phone call returned from the lenders and after making phone making many phone calls I discovered that Affinity isn’t like most companies in that there isn’t anyone in charge or anyone who can help if there is a problem with the loan process. From what I have heard in all other areas Affinity offers excellent service.

Before choosing a lender ask your friends and ask your Realtor® for advice. If you call or email a lender for information and they don’t return your call or email promptly move on. Poor communication, slow responses and no communication make the home buying experience a miserable experience.

Print Friendly, PDF & Email