Tuesday, June 16, 2009

The non-sucky re-finance experience

After complaining about my experience with WaMu/Chase, I'm pleased to report we've closed on our re-finance with Quicken Loans.

I called them the afternoon that I realized WaMu/Chase were not going to work out, and within a day I had received spoken to a loan officer and received an estimate. The next morning I signed forms electornically locking in our rate and starting the credit reviews, etc. Within a week of applying the property valuation was done, and the loan was approved. During the whole process I was able to easily speak to my loan officer (email and phone calls answered within a day). Title search took about a week and a half, and we then signed the papers at our house. The whole process took under 4 weeks.

I was also really impressed that Quicken Loans sent us the full set of papers we would be signing the day before, so we could review them and ask questions if needed. No other lender I've worked with has done that, or offered to do signing at a location that's convenient for you instead of them.

Another nice thing: The property valuation report was very detailed and has some great info, such as comparable properties in the neighbourhood that have sold or are listed for sale now. More data than most estate agents give you when you are considering listing your home and trying to figure out a realistic price...

All in all I was really impressed with these guys and would recommend them to my friends. If you are thinking of re-financing or purchasing a home, give them a try.

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