recently got a good quote from loandepot (15yrs fixed, 2.625% with 3k closing) does anyone familiar with this company or have expereience with them? want to know their reputation. Should I go with big bank like WF just to be safe? give some advices...
Big bank maybe, WF never
What hiccups did WF cause and when? Asking for future application.
They all sell loans off asap to a loan servicer/investor. Then they take the cash to make a new loan to the next client. This is the business model. There is nothing to risk here in a refinance.
Which location?
I refinanced with loan depot, and it worked out well. They do transfer you to another office after a month, so you won’t be able to set up automated payments for the first 1-2 months. Was not a big deal for me for the better rate
Loandepot sold my loan to other loan financers within a month
All mortgage brokers do