Back to Blog
Aimloan mortgage6/30/2023 ![]() ![]() One "negative" I'll put out there - Ameriprise. I had 4 weeks from my purchase offer being accepted and the close, and my loan was approved with plenty of time to spare. They responded to requests within an hour most of the time and offered an unbeatable price. Good reviews too (pretty much all of them are good though). AimLoan did an outstanding job providing a loan for my house. Used one of the lead-generating sites and compared rates, ended up with them. I do think we got lucky going with a smaller broker that provided great service and rates. I assume any broker that is looking out for their client would pursue it. Its a request, so if it gets rejected, you just pay for an appraisal as normal - doesn't hurt to ask. ![]() We assumed an appraisal was always required. Any advice on how can someone else save this? Did you ask for it or the broker took it upon him/her-self to do it for you so you can save some $$$? Guessing that since we purchased with 20% down, slight price increase since then (not a lot), plus paying down LTV over time, they accepted it. What was your rationale for appraisal waiver? I bought my house last year and wondering if I can do the same thing since it wasn't too far out in past when I made the purchase. Aimloan was one that came up on here, when I searched though. I think they both beat Aimloan rates from what I remember of the initial price scouting. Northpointe had similar pricing/rates when initially poking around. Besides the federal government grants, the CGC and commercial banks also contributed considerably to AIM's loan capital. Saved us $650 also by requesting an appraisal waiver that we hand't counted on. We luckily ended up with SaveFinancial, Ali has been great. I realize at the price I paid I'm not going to get hand holding, and it was really very little work on my end, but slightly more info on the status during the process might have been nice and the HOA thing seemed a little unusual. For closing they sent a notary to my house, who Fed Ex'd everything to the title company, so that was very convenient.Īll in all, I'm happy because I got a good rate and price. The Board President emailed them and explained some non-obvious things about our situation and they ended up approving it. My HOA secretary was shocked that they even asked, she said no lender had asked about the insurance in her years of being secretary. Near the end of the process we went at least a week without hearing from anyone, after which they told me that my application was being denied because they didn't like my HOA's insurance on common areas. The communication was sparse and underwriting was a bit difficult. They had a very good rate with low costs compared to elsewhere that I looked. ![]()
0 Comments
Read More
Leave a Reply. |