A few months ago, we decided to refinance our mortgage. So with the help of the Internet, we quickly identified the going rates at a few different firms. The lowest one by far was First Financial Services, Inc., based in Charlotte, NC. In fact, they undercut their nearest competitor's offer by $1,600, and that offer was already about $10,000 better than those from the big banks.
Nevertheless, I did some sleuthing around and contacted some other lenders. All their salesmen asked what other offers I had, and when I shared FFS's numbers, most of them warned me that "with rates like that, something's up", and that it was "too good to be true". And I admit that I did have my doubts. But after doing some research online, I couldn't find any bad reviews of FFS, so I went ahead and filled out the paperwork.
A month later, we had successfully refinanced our loan, and the total out-of-pocket closing cost was under $1,000. With the interest included in the loan payoff and other "hidden" items, the actual cost was under $500. Keep in mind, this for a loan modification that will save us tens of thousands of dollars in interest over the life of the loan.
I've been meaning for some time to post a positive review online, but hadn't got around to it. So here it is.
First Financial Services really did a bang-up job of addressing my concerns through the whole process. They were relatively responsive to my inquiries, and when there was schedule slippage past the end of the rate lock period (due to high volume at their end), they honorably held to the rate they'd promised. Their e-signing system was convenient and efficient, and they even sent a notary over to our house so we could sign the paperwork at home. Oh yeah, and they saved us a ton of money.
Thanks, guys!
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