I used them and they were great. I was a first time buyer, I got 100% financing and sellers assistance (my closing cost were in the actual loan) so I went to closing with no money. I got 6.25% fixed rate. They were really good to me, but I also bought right before the bottom fell out in the market so it might not be as good, but they seem decent. Good luck and remember don’t go for those flashy financing loans. Get a 30 year fixed rate.
yes they are, but you need to be careful going to a “retail” lender, if you don’t have great credit or if you have any kind of issues with job, money, etc. you are better off going to a broker who can go to the wholesale side and get you better rates and a better program.
lots of complaints for contrywide! here is just one!
Kathryn of Tampa FL (08/11/07)
I am a current Countrywide customer with an adjustable rate mortgage that I was looking to refinance to a fixed rate. I see advertised online no closing costs and I figure since I’m a current customer that would be great and that they would take care of me. Boy was I wrong about that!!
After almost two months of haggling with them they finally give me a ‘bottom line’ quote which was a savings of nineteen cents per month!! Then when I looked at the contract they were charging me over 7,000 in early termination fees how can you do that when you’re refinancing with the SAME company? You’re not terminating, your extending your loan.
The total refinance amount they gave me was 220,500. They would not explain to me what the additional fees were for and added that they would not give me any cash out to make any home improvements. I ended up escalating this complaint up to their CEO. I still haven’t gotten a straight answer out of anyone and I’m very upset and frustrated.
3 Responses to Is countrywide a good mortgage lending company?
lovely_kelly2004
February 11th, 2010 at 1:02 am
I used them and they were great. I was a first time buyer, I got 100% financing and sellers assistance (my closing cost were in the actual loan) so I went to closing with no money. I got 6.25% fixed rate. They were really good to me, but I also bought right before the bottom fell out in the market so it might not be as good, but they seem decent. Good luck and remember don’t go for those flashy financing loans. Get a 30 year fixed rate.
healthspot_2000
February 11th, 2010 at 1:53 am
yes they are, but you need to be careful going to a “retail” lender, if you don’t have great credit or if you have any kind of issues with job, money, etc. you are better off going to a broker who can go to the wholesale side and get you better rates and a better program.
pearlmel
February 11th, 2010 at 2:19 am
lots of complaints for contrywide! here is just one!
Kathryn of Tampa FL (08/11/07)
I am a current Countrywide customer with an adjustable rate mortgage that I was looking to refinance to a fixed rate. I see advertised online no closing costs and I figure since I’m a current customer that would be great and that they would take care of me. Boy was I wrong about that!!
After almost two months of haggling with them they finally give me a ‘bottom line’ quote which was a savings of nineteen cents per month!! Then when I looked at the contract they were charging me over 7,000 in early termination fees how can you do that when you’re refinancing with the SAME company? You’re not terminating, your extending your loan.
The total refinance amount they gave me was 220,500. They would not explain to me what the additional fees were for and added that they would not give me any cash out to make any home improvements. I ended up escalating this complaint up to their CEO. I still haven’t gotten a straight answer out of anyone and I’m very upset and frustrated.
Miriam of Jacksonville FL (08/10/07