Posted on: 20th Jan, 2009 09:46 am
Anybody have experience with Surepoint Lending? I'm looking at refinancing with them through Costco. Anybody heard or experienced anything good or bad with this company?
Thanks!
Thanks!
Costco? they do lending? it must be wholesale only, i surmise.
It's some kind of partnership. You go to lending tree through Costco's site and apply as a Costco member. Supposedly I get $300 off the underwriting fee and $300 off some other fee. I also get a $100 Costco cash card. I just wonder if they are hiding these charges elsewhere in the loan. I posted another post with specifics about refinancing my 80/20 into FHA with cash out that will cost me $12000 to go through with. I think you responded to that one (thanks, by the way!) :) It just seems like so much money, but my LTV is 95% and I think this is my only option.
well, of course, you are welcome for any insight i may be able to provide. my earlier post here. my comment about the wholesale aspect of costco was a bit facetious, actually.
i have no dealings with costco, but i wouldn't think that their discounts would be added back - they'd be subject to way too much bad publicity if that were the case.
i have no dealings with costco, but i wouldn't think that their discounts would be added back - they'd be subject to way too much bad publicity if that were the case.
Why Costco? I can get that loan done for you while beating their rates and fees. Please let me know the location and loan amount you are seeking.
561-201-6225
[Email address deleted as per forum rules. Thanks.]
561-201-6225
[Email address deleted as per forum rules. Thanks.]
geez now we have to delete Sanford too
Hi, I just dealt with Surepoint and decided to go elsewhere. They will quote you a great rate, but they have $995 processing and $995 other fee. So its just like you are buying down the loan anyway. You can do better many other places. I don't know about their costco deal, but if you are going direct, beware...
My dealings with surepoint are just about over..
a pair of loans suming 124,000 i was looking to refinance had around 10,000 dollars in closing costs.
paying one point I was given an intrest rate of 5.0% with an apr of 5.989%
and over 795 processing fee 795 undrewriter fee 1350 origination fee and other misc smaller fees and i feel padded numbers for third party numbers. I decided to go to a local bank insted where even the title insurance was cheaper.
through surepoint in order to consolidate 124,000 loan they had me financing 138,000 with 300 cash out.
I don't trust them.
a pair of loans suming 124,000 i was looking to refinance had around 10,000 dollars in closing costs.
paying one point I was given an intrest rate of 5.0% with an apr of 5.989%
and over 795 processing fee 795 undrewriter fee 1350 origination fee and other misc smaller fees and i feel padded numbers for third party numbers. I decided to go to a local bank insted where even the title insurance was cheaper.
through surepoint in order to consolidate 124,000 loan they had me financing 138,000 with 300 cash out.
I don't trust them.
I refinanced in December 2008 with SurePoint through their Costco program. By being a costco member I saved several hundreds of dollars off of the cost of the refinance. I closed on my refinance about two weeks after initially applying and my loan officer there was as professional and courteous as I've ever dealt with.
I have refinance 3 times in the past and their costs were about the same as my first refinance in which I used another direct lender and several thousand less than when I used a broker the 2nd time. They didn't have any smoke and mirror tricks like the broker did and I would recommend SurePoint to any of my family and friends. I also received a Costco card about a month after closing for $250 as well.
That's just my experience with them but I am very satisfied with their service and will use them again in the future if I ever refinance again.
I have refinance 3 times in the past and their costs were about the same as my first refinance in which I used another direct lender and several thousand less than when I used a broker the 2nd time. They didn't have any smoke and mirror tricks like the broker did and I would recommend SurePoint to any of my family and friends. I also received a Costco card about a month after closing for $250 as well.
That's just my experience with them but I am very satisfied with their service and will use them again in the future if I ever refinance again.
Hey Allen...Thanks for sharing your experience with the community. It's really good to know that you had a good experience with Surepoint Lending :)
DO NO DEAL WITH THESE CROOKS - You'l be sorry/
With such a wide array of responses it almost seems the issue is more about understanding the expectations. I am considering a refi with Surepoint now, and their rep has been great. I guess I am leaning towards Allen's remarks since he has gone through the process 3 times before, and found them to be fair.
There have been a lot of dodgy dealers in the mortgage game in the recent past, a once bitten twice shy mentality seems to have set in with both lenders and borrowers recently.
Past behaviour predicts future, so like Mark said, I'd be inclined to put more weight on somoeone who's actually dealt with them a few times like Allen
Past behaviour predicts future, so like Mark said, I'd be inclined to put more weight on somoeone who's actually dealt with them a few times like Allen
Why do you need to go through Costco - can't you approach them directly?
the best advice of all is to pay attention, exercise caution and do not get caught up in someone's promises. once i hear of negatives thrown out about a company, it causes me to put up a shield of doubt.