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Old 02-14-2009, 05:48 AM
1 posts, read 4,279 times
Reputation: 11


I am planning to do a VA Streamline Refi to lower my interest rate. I trying to decide if I should go with my current mortgage company, National City Mortgage at 4.75% or one that I received an offer in the mail, and susequently contacted, Nationwide Mortgage Concepts, who is offering 4.5%. I have GFEs from both and the bottom line is that there are less fees with National City, but with the slightly higher interest rate it makes my monthly payment about $20 more ($6400 over 30yrs). I have been with National City for over 5 years and have never had an issue.

For some reason I am skeptical about Nationwide. Maybe because of the orginal letter in the mail (get them all the time), combined with the guy seems somewhat desparate (calls several times a day, once fairly late at night 9:00pm). They also have a BBB Rating of "F". The loan officer said that is due to the company not paying dues required to clear complaints. It is true they only had 3 complaints in 36months. I cannot find anyone who is familiar with Nationwide or can give me any info about them.

My thoughts are that I should stick with a company that I know for $20/month, but I would deeply appreciate any insight, information or suggestions. I really want to get the ball rolling on Monday.

Thanks! Dan
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Old 02-14-2009, 08:57 AM
Location: Charlotte, North Carolina
5,137 posts, read 15,093,116 times
Reputation: 1007

on a 15yr fixed mortgage or 30?

i'm sure most of those complaints came because they dont honor their rates
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