Mortgages.....where are you going these days?

shelby27604

shelby27604

Well-Known Member
Joined
Jun 6, 2013
Location
Efland NC
I guess I am officially OLD.....shopping around for a mortgage, and I went to my local bank (wells)....the mortgage broker is only on-site when an appointment is scheduled, went to Chase....they don't offer ANY mortgage based loans out of ANY branch office, it is 100% online. Went to the local credit union, the kid behind the desk was dumbfounded by my questions. It was like a scene out of idiocracy, and eerily similar to trying to buy a lug nut from the kid behind the counter without telling him if your truck is 2wd or 4wd.

Sooo....the world has gone to hell in a handbasket, where is everyone going to get a mortgage these days? I hit lending tree to see what rates were, and by the time I was done filling in my info I had 3 text messages, 4 emails, and a couple of missed phone calls.

Are you doing thise 100% online, does it feel SUPER creepy, and how was your overall experience? How does closing work, is it just paperwork that you bring in.....or a QR code?
 
I used a guy recommended by @BigClay. His name was Darrel Boan. Smooth and seamless process.
 
Part of that is covid related, many bank branches are still on a skeleton crew.

Suck it up and go onlilne, it's the way of the world now. Also, screw wells.
 
Did mine online. Local banks couldn't compete with prices. Got several quotes, went with the one that had the best balance of APR and cost. Service was terrible. Tons of mistakes. Took forever. So yeah, pretty much just like dealing with the local bank, but it saved me a ton of money and I can still wear my pistol while talking to them. :D
 
Better.com.
Easiest experience ever, and they provide tables to directly compare rates vs payments vs total payout etc.

For closing, they hire a closing agent that comes to your house w/ a stack of papers for you to sign. I was really hoping to avoi that bc signing a thousand sheets of paper sucks... but apparently thats still a thing.
 
RatLabGuy said:
Better.com.
Easiest experience ever, and they provide tables to directly compare rates vs payments vs total payout etc.

For closing, they hire a closing agent that comes to your house w/ a stack of papers for you to sign. I was really hoping to avoi that bc signing a thousand sheets of paper sucks... but apparently thats still a thing.
Click to expand...

Those guys were a waste of time. Duder said that if I provided him with somebody else's quote, he would beat it. I explained to him that I wanted him to give me an offer with his best rate, and I would compare it against the other two offers I had and pick from there. He said again that I just needed to send him the other guy's offer and he would beat it. Mind you, one of the "other guys" is somebody in Cary that we've worked with for years. It's not going to make or break him if we don't go with him, but he did the actual leg work to find us a good rate, offer feedback on other options, etc. The Better guy just wanted to crib his homework.

They also light your phone/email/etc up for WEEKS.
 
jeepinmatt said:
Did mine online. Local banks couldn't compete with prices. Got several quotes, went with the one that had the best balance of APR and cost. Service was terrible. Tons of mistakes. Took forever. So yeah, pretty much just like dealing with the local bank, but it saved me a ton of money and I can still wear my pistol while talking to them. :D
Click to expand...

I went with Matt's people...not sure if it was the best rate I could have gotten or not, but my go to guy/mortgage broker couldn't compete. Dropped me 7/8% IIRC, nothing out of pocket. My deal was done in under 45 days. They did FUBAR my escrow, saying I overpaid and I should be so happy that I they were able to provide me with such a large check. Told them they were wrong, but didn't feel like arguing. About two weeks ago, received a letter saying I've underpaid my escrow (within $70 of what the overpayment escrow check was for).
 
I purchased my home back in 2008 through Wells Fargo with a VA loan and Wells Fargo just sold my mortgage to some outfit out of Arizona...I guess this is more common than I realized, to just have your mortgage sold and you're the last one to know about it. Honestly though the new place is really easy to deal with and I just set it up for automatic draft on the 1st of the month and good to go.
 
There's a refinance thread on here somewhere and I used a guy @Ron recommended, Dan Lewallen from county bank. Was all online through email/ online portal. Closing I picked an attorney local right here in town and did final signing. Was a little longer than expected but with rates so low and everyone refinancing, I knew it would be. Had great customer service from Dan, would highly recommend him.
 
I'm old school I guess, I went through the bank both times. First time in person with first citizens, second time mostly online/phone calls with BB&T. Same loan officer both times (he swapped banks) and he already knew all my info so it was pretty painless on the refi. Slow, but that wasn't anyone's fault. One thing I do like about the bank is that they will always be who services my loan.
 
Looks like we are going to go the online route, most of the local brokers can't write loans for property outside of NC and there is a chance we may end up on one side or the other of the NC / VA border. Thanks for the leads, looks like I use a bunch of the online options and pit better.com against them.
 
I used better.com at the beginging of the year. I had a deal in place with Dan mentioned above and he blew everyone's rates out oft he water. They had a (major) delay and were going to take 150 days to close my refi and I needed to do it faster for other reasons. At the advice of @RatLabGuy I contacted better. They replied within 10 minutes in under 30 minutes I had a rate quote. Like @shawn mentioned it wasnt as good as the deal I had with Dan - but I was in a time crunch. I sent them my deal and they beat it by an 1/8th of a point - this represented a drop of a 1/4 point and a 500 decrease in closing cost. Scummy business practice but it worked out for me.
After that they couldnt have been easier. Closed the loan 22 days after my initial contact. Sent the lawyer to my house signed the docs at my kitchen table. She even flopped her puppies out of her sweater and onto my table while bending over and petting our then 14 week old puppy.

Was pretty painless. Would recommend again, even without the free bewbs.
 
RatLabGuy said:
Better.com.
Easiest experience ever, and they provide tables to directly compare rates vs payments vs total payout etc.

For closing, they hire a closing agent that comes to your house w/ a stack of papers for you to sign. I was really hoping to avoi that bc signing a thousand sheets of paper sucks... but apparently thats still a thing.
Click to expand...
This. Closing agent visiting me on monday.
 
willness33 said:
I hope I get the same person. Wife probably wouldn't be amused.
Click to expand...
probably wont.
SC requires a RE closing to be done only by a licensed attorney, she mentioned that this was unusual because many states dont. But she lived in Charlotte area. Cant rememeber her name.
She was very nice we had the puppy and a goat in the house at the time and she wasnt the least weird about it...and she wasnt from a rural environemnt
 
Doing the mortgage shopping today (online and local banks). Seeing some tig ole' bitties at closing would be nice, but with my luck they will be attached to a 400lbs, dooder.....so I am not going to waste any wishes on that one today (or tomorrow).
 
buellconvert said:
I purchased my home back in 2008 through Wells Fargo with a VA loan and Wells Fargo just sold my mortgage to some outfit out of Arizona...I guess this is more common than I realized, to just have your mortgage sold and you're the last one to know about it. Honestly though the new place is really easy to deal with and I just set it up for automatic draft on the 1st of the month and good to go.
Click to expand...
Besides WF sucking donkey balls... The issue will be in Xx years if/when you decide to sell... and auditing finds some unsubstantiated "ding" left behind by WF and not cleared prior to selling off your loan. Should only take 6-12 months *after* legal action is taken. (not 1st hand, but happened to my BiL/SiL and a good friend 1000 miles apart with the common thread being loans sold by WF)
 
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