My home loan process was short...less than three weeks. The process itself was disorganized. We were asked multiple times for the same documents and all the disclosures had inaccurate numbers (i.e, loan amount, etc.), yet they still wanted our signatures. Who signs documents with higher loan amounts? Unreasonable and unprofessional. How hard is it to do the job right at the start? Regarding interest rate reduction measures...We were met with resistance when asked for buying down the rate. Most key issues were brought up early on in the process but the processing folks waited until the last minute for everything. Our closing was delayed by a day, which I never experienced this before. When we went back to discuss lower rates, Eagle Bank made excuses why this could couldn't be done (e.g., market is different, it will delay closing, etc.). And when I approached management, the manager, Gary A. spent more time dislocating his shoulder while patting himself on the back boasting how quick they delivered the deal and gave ZERO attention to my complaint.
This is my second and last loan with EB. Both times the processors during documentation collection appeared very disorganized. This indicates an internal problem. When I brought this to Gary A's attention, he said we do great work. And this is the problem with assessing and validating yourselves...nobody admits to doing a bad job!
My advice: talk to three lenders and negotiate. And do not let the lender drop the ball on your numbers so when time draws down, they can't use it against you. read more