As a former mortgage processor, underwriter, and also owning homes that I have purchased and refinanced several times, I’m very familiar with the mortgage lending process, and I know that oftentimes it can be difficult as it relies on many different parties who are hopefully knowledgeable and cooperative.
A few weeks ago, I shopped for rates using LendingTree.com as I was needing to refinance my home. I was bombarded with phonecalls and emails within minutes of submitting my request for quotes. The first call I got was from John Hamidi from HomePlus Mortgage, a mortgage bank. I was very impressed by how professional and knowledgeable he was, not wasting any of my time on the phone, but got straight to the point. He followed up the phone call immediately with an email that detailed out several rate options, details of lender credit/fees, and all fees shown up front. I shopped around for a few more days talking to several other lenders and comparing rates. It was tiring talking to loan officers who talked too much, too little, too pushy, unknowledgeable, etc. Meanwhile, everyday I got an email from John with HomePlusMortgage with the updated rates and fees. Whatever system his company uses to spit out this detailed info was very impressive. At the end of a few days, I found that most companies had similar quotes, but his company a slightly more lender credit, and moreso, I was most impressed with him and his company, so I started the application process with HomePlus Mortgage. I locked in my rate for 3.625% for 20 years fixed with a lender credit that covered most of my closing costs.
The entire process was done online or over the phone. Everything was fast, direct, and well communicated. I never had to meet John in person and only spoke to him when needed, and it was always very brief, efficient, to the point. When a glitch came up during the underwriting process, we quickly got everything needed and all conditions were quickly signed off. The processor and the escrow officer were amazing. Every time I sent in my documents, I received a quick “Thank you” email from one of them to confirm receipt. The amount of communication was just right — not too much, not too little, just what was needed.
Today my loan funded, within a few weeks since I first started the process. The fees matched up 100% with what was quoted. Nothing fishy or unexpected. I got exactly what I signed up for.
I got a call from John today to inform me of funding, when to expect the wire, and later received an email with the Final Settlement statement. Perfect.
Most refinancing or purchasing transactions are a huge headache and I generally get frustrated by incompetence, mistakes, over or under communication, or lack of cooperation amongst the mortgage team. Thus, to say that I am very pleased and impressed by this refinancing experience says alot!
If you need a good lender, I highly recommend John from HomePlus Mortgage. Check out the stellar reviews on Lending Tree and on Zillow.