Refinance mortgage with Aimloan?

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Tenesmus83
Posts: 91
Joined: Thu Nov 22, 2018 2:32 pm

Refinance mortgage with Aimloan?

Post by Tenesmus83 »

Anyone have experience with this online lender? Also, I noticed that closing costs for refinance are substantially less than closing costs for the initial loan. Is this normal?
Mako
Posts: 345
Joined: Wed Feb 28, 2007 9:34 am
Location: MD

Re: Refinance mortgage with Aimloan?

Post by Mako »

I just used them. They had a very good rate with low costs compared to elsewhere that I looked. The communication was sparse and underwriting was a bit difficult. 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. My HOA secretary was shocked that they even asked, she said no lender had asked about the insurance in her years of being secretary. The Board President emailed them and explained some non-obvious things about our situation and they ended up approving it. For closing they sent a notary to my house, who Fed Ex'd everything to the title company, so that was very convenient.

All in all, I'm happy because I got a good rate and price. 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.
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sunny_socal
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Re: Refinance mortgage with Aimloan?

Post by sunny_socal »

Aimloan is a solid internet lender, have used them. Good for refi but I probably would go with a local lender if time is a concern.
aerosurfer
Posts: 268
Joined: Fri Feb 02, 2018 6:10 am

Re: Refinance mortgage with Aimloan?

Post by aerosurfer »

I used them for my purchase 2 years ago. Very easy and good communication. Have been watching rates with them and plan to refi if rates drop enough. Very happy customer
Tribonian
Posts: 159
Joined: Thu Dec 21, 2017 7:33 am

Re: Refinance mortgage with Aimloan?

Post by Tribonian »

We’ve used AIMLoan for both purchase and refi and they were easy to deal with each time.
Hope
Posts: 30
Joined: Tue Dec 30, 2014 1:57 pm

Re: Refinance mortgage with Aimloan?

Post by Hope »

aerosurfer wrote: Mon Sep 23, 2019 9:00 pm I used them for my purchase 2 years ago. Very easy and good communication. Have been watching rates with them and plan to refi if rates drop enough. Very happy customer
So you think the rates aren't low enough?? These are great interest rates if you are a borrower IMHO.
aerosurfer
Posts: 268
Joined: Fri Feb 02, 2018 6:10 am

Re: Refinance mortgage with Aimloan?

Post by aerosurfer »

Hope wrote: Thu Sep 26, 2019 9:53 am
aerosurfer wrote: Mon Sep 23, 2019 9:00 pm I used them for my purchase 2 years ago. Very easy and good communication. Have been watching rates with them and plan to refi if rates drop enough. Very happy customer
So you think the rates aren't low enough?? These are great interest rates if you are a borrower IMHO.
No low enough to beat my already great rate.... would have to buy down the points too much to improve the rate enough and that would defeat the purpose
aerosurfer
Posts: 268
Joined: Fri Feb 02, 2018 6:10 am

Re: Refinance mortgage with Aimloan?

Post by aerosurfer »

Hope wrote: Thu Sep 26, 2019 9:53 am
aerosurfer wrote: Mon Sep 23, 2019 9:00 pm I used them for my purchase 2 years ago. Very easy and good communication. Have been watching rates with them and plan to refi if rates drop enough. Very happy customer
So you think the rates aren't low enough?? These are great interest rates if you are a borrower IMHO.
No low enough to beat my already great rate.... would have to buy down the points too much to improve the rate enough and that would defeat the purpose
surfstar
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Joined: Fri Sep 13, 2013 12:17 pm
Location: Santa Barbara, CA

Re: Refinance mortgage with Aimloan?

Post by surfstar »

We luckily ended up with SaveFinancial, Ali has been great. Just finishing up a refi 30yr 3.5%. Saved us $650 also by requesting an appraisal waiver that we hand't counted on.
Northpointe had similar pricing/rates when initially poking around.

I think they both beat Aimloan rates from what I remember of the initial price scouting. Aimloan was one that came up on here, when I searched though.
Hope
Posts: 30
Joined: Tue Dec 30, 2014 1:57 pm

Re: Refinance mortgage with Aimloan?

Post by Hope »

surfstar wrote: Thu Sep 26, 2019 12:50 pm We luckily ended up with SaveFinancial, Ali has been great. Just finishing up a refi 30yr 3.5%. Saved us $650 also by requesting an appraisal waiver that we hand't counted on.
Northpointe had similar pricing/rates when initially poking around.

I think they both beat Aimloan rates from what I remember of the initial price scouting. Aimloan was one that came up on here, when I searched though.
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. Thanks.
surfstar
Posts: 2417
Joined: Fri Sep 13, 2013 12:17 pm
Location: Santa Barbara, CA

Re: Refinance mortgage with Aimloan?

Post by surfstar »

Hope wrote: Thu Sep 26, 2019 12:53 pm
surfstar wrote: Thu Sep 26, 2019 12:50 pm We luckily ended up with SaveFinancial, Ali has been great. Just finishing up a refi 30yr 3.5%. Saved us $650 also by requesting an appraisal waiver that we hand't counted on.
Northpointe had similar pricing/rates when initially poking around.

I think they both beat Aimloan rates from what I remember of the initial price scouting. Aimloan was one that came up on here, when I searched though.
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. Thanks.
The broker (Ali) took care of it. 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. We purchased in 11/2016 w/ 3.875% loan.
Hope
Posts: 30
Joined: Tue Dec 30, 2014 1:57 pm

Re: Refinance mortgage with Aimloan?

Post by Hope »

surfstar wrote: Thu Sep 26, 2019 3:21 pm
Hope wrote: Thu Sep 26, 2019 12:53 pm
surfstar wrote: Thu Sep 26, 2019 12:50 pm We luckily ended up with SaveFinancial, Ali has been great. Just finishing up a refi 30yr 3.5%. Saved us $650 also by requesting an appraisal waiver that we hand't counted on.
Northpointe had similar pricing/rates when initially poking around.

I think they both beat Aimloan rates from what I remember of the initial price scouting. Aimloan was one that came up on here, when I searched though.
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. Thanks.
The broker (Ali) took care of it. 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. We purchased in 11/2016 w/ 3.875% loan.
Good for you. And thanks for sharing. 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 $$$?
Thanks.
mesaverde
Posts: 488
Joined: Wed May 02, 2007 4:14 pm

Re: Refinance mortgage with Aimloan?

Post by mesaverde »

I refinanced with AimLoan this summer. It was practically flawless and I would use them again without hesitation. Closed within 30 days of application.
"Learn from the past, live in the present, plan for the future"
jbuzolich
Posts: 391
Joined: Tue Jun 24, 2014 9:52 pm

Re: Refinance mortgage with Aimloan?

Post by jbuzolich »

We've used aimloan multiple times now on refinances and one purchase. Great experiences each time and everything went smoothly. Highly recommended.
Kaizen Soze
Posts: 80
Joined: Thu Apr 11, 2019 1:47 pm

Re: Refinance mortgage with Aimloan?

Post by Kaizen Soze »

We used Aimloan for our mortgage and would use them again.

They offered the best rate available in 2016, 30yr. @ 3.375% with no points. (well... ~$100 in points) Closing costs weren't very high. With the RedFin rebate and negotiated $5k sellers contribution to closing costs we ended up at $150 out of pocket.
surfstar
Posts: 2417
Joined: Fri Sep 13, 2013 12:17 pm
Location: Santa Barbara, CA

Re: Refinance mortgage with Aimloan?

Post by surfstar »

Hope wrote: Thu Sep 26, 2019 9:15 pm
surfstar wrote: Thu Sep 26, 2019 3:21 pm
Hope wrote: Thu Sep 26, 2019 12:53 pm
surfstar wrote: Thu Sep 26, 2019 12:50 pm We luckily ended up with SaveFinancial, Ali has been great. Just finishing up a refi 30yr 3.5%. Saved us $650 also by requesting an appraisal waiver that we hand't counted on.
Northpointe had similar pricing/rates when initially poking around.

I think they both beat Aimloan rates from what I remember of the initial price scouting. Aimloan was one that came up on here, when I searched though.
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. Thanks.
The broker (Ali) took care of it. 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. We purchased in 11/2016 w/ 3.875% loan.
Good for you. And thanks for sharing. 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 $$$?
Thanks.
The broker brought it up. We assumed an appraisal was always required. Its a request, so if it gets rejected, you just pay for an appraisal as normal - doesn't hurt to ask. I assume any broker that is looking out for their client would pursue it. I do think we got lucky going with a smaller broker that provided great service and rates. Used one of the lead-generating sites and compared rates, ended up with them. Good reviews too (pretty much all of them are good though).

One "negative" I'll put out there - Ameriprise. They were pushy like a car salesman. Sorry I gave them my real phone number.
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