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Old 07-09-2015, 02:05 PM
 
9 posts, read 8,083 times
Reputation: 10

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Has anyone used them for a new purchase or refinance? Can you please share your experience?

Thanks
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Old 07-09-2015, 03:06 PM
 
Location: Phoenix, AZ > Raleigh, NC
14,298 posts, read 17,497,824 times
Reputation: 22127
I used them twice for refi's - many years ago. At that time, they were great.

HOWEVER, you need to know what you are doing with mortgages if you are going the online route. They will not do any hand holding (regardless of what they promise you), and unless you are well educated in the process, it will cost you in the end. So if you don't know what you are doing, go with a local mortgage officer.
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Old 07-11-2015, 08:51 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,623,584 times
Reputation: 8078
100% agree. I have to price match them frequently, they do have great rates. But do research them, other than "great rates" little else good is known. Do check with rippoff reports for com and pissed off consumer dot com. Only go this route is you know the process well.

There's a lot of truth to be said the happy consumer doesn't come to the web to post their great experience with someone. The second truth is an angry complaint represents only a fraction of the complainants. I've seen studies say one complaint actually equals anywhere from 26 to 66. (One study says we are becoming more apathetic with complaints and speak with where we spend our dollars). Another truth, one happy consumer will tell a few about their great experience, an angry consumer will tell thousands (via web).

But........I suspect you already know all this and are really seeking the one voice that supports you to ignore your gut.
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Old 07-11-2015, 10:15 AM
 
Location: Phoenix, AZ > Raleigh, NC
14,298 posts, read 17,497,824 times
Reputation: 22127
Looking at your other posts, it appears that you are purchasing a home (not doing a refi). And it also appears that you may be buying new construction from a builder.

Clearly, this is important information to know before answering your initial question. Though MY experience with aimloan was a good one, there's no way in hell I'd recommend using an online broker for a home purchase unless you KNOW the process inside and out. Meaning: That you worked as an online mortgage broker for 2 years - like me.

Otherwise, find a local broker and compare that to the builder's inhouse mortgage firm - which is EXACTLY what I did when we purchased our last home. I didn't even consider using an online mortgage seller for the purchase of my home.
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Old 07-12-2015, 12:15 PM
 
9 posts, read 8,083 times
Reputation: 10
All valid points guys! Thanks a lot for the feedback.

@Jkgourmet You're right but the rates from local brokers aren't better than those from my builder's preferred lender when you review the entire package. I also can't find a local broker that's willing to match online lender rates which is why I considered giving online lenders a closer look.

@SmartMoney I'll DM you to discuss further
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Old 07-12-2015, 09:18 PM
 
672 posts, read 1,604,384 times
Reputation: 585
I have used them twice... one on a primary home refinance and once on an investment property purchase.

Overall, very satisfied with all of the people I communicated with.... and they won't lose your business if they can help it... In my experience they will price match any legitimate quote and work with you through reasonable issues. I will definitely be using them (or at least price-matching/checking them) for my next rental.

But I've also purchased quite a few homes, so I'm familiar with the mortgage process and don't feel the need to have to shake someone's hand in person to seal the deal.

I believe they use some type of standardized online servicing portal that I've see with some of my other mortgages.... and the application/document submission procedures are pretty straightforward.
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Old 07-19-2015, 10:22 AM
 
497 posts, read 274,569 times
Reputation: 575
We have used them twice, for a purchase and refi. Great rates, much better than the local folks quoted with no 'junk fees'. It all went very smoothly, and I would highly recommended them. That being said, there is less hand holding than a local outfit so you need to be familiar with and on top of the process.
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Old 01-28-2016, 04:03 AM
 
139 posts, read 95,276 times
Reputation: 182
Quote:
Originally Posted by obeewan View Post
Has anyone used them for a new purchase or refinance? Can you please share your experience?

Thanks

Run fast and far from AImloan.com. They are by far the worst I have ever dealt with! Don't be teased by the low rates. It got to be such a hassle I went elsewhere for the loan.
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Old 01-30-2016, 02:04 PM
 
Location: MID ATLANTIC
7,598 posts, read 17,623,584 times
Reputation: 8078
Yay! What that tells me is they've lost their excellent staff - after the crunch, everyone fled to safety, but recently and right now recruiting is so strong, offers are seriously head-turning, like they never have been before.
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Old 02-01-2016, 07:43 AM
 
Location: Phoenix, AZ > Raleigh, NC
14,298 posts, read 17,497,824 times
Reputation: 22127
Quote:
Originally Posted by SmartMoney View Post
Yay! What that tells me is they've lost their excellent staff - after the crunch, everyone fled to safety, but recently and right now recruiting is so strong, offers are seriously head-turning, like they never have been before.
Based on one negative report. C'mon, really?
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