Posted on: 30th Aug, 2009 07:44 pm
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
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
Hi captcharwp!
Welcome to forums!
If you have a good experience with your present mortgage company, then it would be a good option to stick with that company. It's always better to avoid a mortgage company with an "F" rating with the BBB.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you have a good experience with your present mortgage company, then it would be a good option to stick with that company. It's always better to avoid a mortgage company with an "F" rating with the BBB.
Feel free to ask if you've further queries.
Sussane
unsolicited offers in the mail are always a sign that the people sending them don't even know who you are, and could care less if they did. they simply want your business. does that make them bad? no, not necessarily. do your comparison and go with your gut feeling.
