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As the title says? Does anyone have anything good to say about BofA mortgages. I personally bank with BofA. I have never really had any problems with them.
Just started the process of buying a home, should be pretty much straight forward. New build house, putting 20% down very low income to pay ratio (30yr fixed conv loan). Solid employment history with same employer. Only issue is house is in a different state? but I am staying with my current employer and just moving states.
Open to all and any advice. Thank you
I have found their customer service to be horrible. It is as if they know they are the biggest around and what do they need you for.
I would suggest you contact a broker in your area to assist you. The process will go smoother and quicker, assuming you are working with a good broker. As friends or relatives for a referral.
Your only issue will not be an issue as long as you are working with same company and can prove they are transferring you.
I am planning to go with a BofA mortgage because they are a "preferred vendor" through my employer - so I basically get their loan origination fee waived. I'm planning to do an FHA, 30-yr fixed with 10% down.
So far no problems in dealing with the sales guy now who is out of state - will let you know if we run into problems once we're in underwriting.
I had smoother experience with them than most other ppl here.
The good thing about them is your accounts will be linked because you're a customer.
That means you can make extra pmts at any time you want using transfer.
I am a LO for a broker and have not had any problems with B of A through the wholesale division. Closed about 45 loans with them last year and not one had a problem. All of the bad "press" on their loan process has been with the retail end of the business so as Victor said get a referral and go through a broker.
I also have my personal mortgage with them and never a problem as a consumer either.
I have banked with them for about 10 yrs, and they just bought my mortgage from my lender, Ive never had any issues with them...and I hope to keep it that way...
Been banking with BOA for many years, on my mortgage have Wells Fargo - recently refinanced @ 4.5% fixed no loan origination fee. Appraisal and processing $660.
Last year did a debt settlement on my BOA credit card - still waiting for my 1099-C to be mailed to me, to file with my taxes. Spent an hour on the phone this morning, telling them did not receive the one they mailed out, and had them resend another one.
By name you can tell the work I do - for example look at how they handle mortgages, one of their biggest mistakes was picking up JP Morgan and Countrywide loans. They are so backed up right now on loan modifications, plus all the foreclosures. Trying to get through to their customer service is impossible.
Out of the last ten years working in financing. It is my personal opinion BOA is good for checking and savings. - when it comes to mortgages, there are better choices.
I have a mortgage with BOA, no problem with them at all. My agent/broker was great.
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