I agree to other posts, but there are some workarounds and benefits going with Members First. Benefit: It's amazingly low interest rate, I got for 2.5% which I am sure nobody in market can beat that. Here are few things you have to do If you want your process go smoothly, Send all of your scanned documents through email so they cannot loose it.. I did same after reading these reviews. It takes more time that other lenders around 40 - 45 days, but you have to constantly keep in touch with your loan officer to expedite this process... They won't contact you , you have to make sure everything is going smooth, after all its credit union. Here's how my process went. 24 January - Sent Documents & locked Rare 31 January - Got house appraised 8 Feb - some review question and asked for Homeowners Insurance Info 1 March - Closing I had to take extension for one more week from seller's realtor, cause it was week late and on that extended week also we closed on last day so it was kind of little worrying. One more thing, If you don't have your bank account with one of their credit unions, then you have to deposit your check to one of their bank's branch which takes 3 days to clear.. so it adds up to your processing time.. I had to go through same for Appraisal Fee and Condo Association Charge. It was my first time buying house, I won't say it was smooth but glad atleast could close on time and now I am living in my new house. Hope its helpful for new buyers
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It's really strange for me to read some of these bad reviews about Member First because I must say, I had a really good experience. I can't believe some of the things people are saying about a lack of any communication, I had the complete opposite occur. My Mortgage Consultant (yes, one consultant was provided to me and stuck with me throughout the processs) was very helpful and knowledgable, and he also never lost one document! I have to wonder if many of these poor reviewers simply had a bad Mortgage Consultant, because I can clearly see how having a good one makes this a less stressful process than I ever imagined it could be. As a single, first time homebuyer, I can't imagine going through this process without having someone to help me through from start to finish. I would defiitely reccomend Member FIrst Mortgage to anyone who asks
I just recently purchased a home, my Credit Union referred me to Member First Mortgage, and I am so glad they did! My loan officer was awesome, I had a tight deadline to work with and other lenders told me they could not make it happen.... From the start they were up front with the process, the costs, rates, etc, and they helped me get into a home within a 15 day timeframe! I read some of the reviews listed here and I could not disagree more, I was given a list of items needed, I provided that list of items and back to them promptly and the process went through without a hitch. I would recommend anyone to this company who wants to work with someone that will treat you like a person and not a number like most banks and mortgage brokers, this company was a true breath of fresh air.