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Aimloan reputation - What are consumers saying about it?

Anyone has experience with aimloan? I'm looking for a lender for my purchase of a property in Orange County, CA. Thanks.

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I'm not quite certain what is meant by "appearance of the people of your own determination," but it sounds rather ominous - especially in light of past indiscretions in the lending industry.

Like | Dislike | Share | Posted: Wed, 05/11/2011 - 12:58

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I recently refinanced with AIMloan. They paid my property twice, once through the escrow firm and once deducted from my escrow account. Then, they made me to pay a higher monthly payment while they are "investigating" it. It has been 20 days and there are no results. I wouldn't recommend using this company for refinancing.

Like | Dislike | Share | Posted: Sat, 02/12/2011 - 15:17 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i am having difficulty obtaining a small loan i'm paying 40,000 down on a 95,000 loan any suggestions? oh credit score is 790

Like | Dislike | Share | Posted: Tue, 02/26/2013 - 04:17 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I just did a [url=http://www.mortgagefit.com/refinance.html]refinance[/url] with AIM and everything when fine. I must admit I believe that I was a perfect customer. they even have kept my loan instead of selling it. I have a 800+ credit rating, my loan to value ratio was about 50% (220,000 vs 120,000). I provided all the required documents and my condo was insured including the internal walls. I was able to get a slightly lower rate by getting quotes from Amerisave which were lower and AIM offered to meet or better. I did not go with Amerisave since they have independent representatives and I felt the service would not be as good. Once you start the loan process at AIM you are assigned a dedicated person to follow thru with the document processing. With the recent changes in mortgage processing the verification and approval process is not immediate but the process was completed before the lock period was up. Yo can always contact the proscesser if you have questions. The only time it took a while for AIM to respond was when they offered to give a better rate than Amerisave. I had to give them an ultimatium then they gave the counter offer. The person responding said it was because they had to wait for the latest rate decision by whomever did the rate decisions. I would use them again. What I learned from this experience is to get rates from several companies then go back to the company you want to use and ask then to match or better it.

Like | Dislike | Share | Posted: Sat, 07/24/2010 - 03:12 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I've just signed up for a loan with AimLoan.com, and they have been professional all the way. They've given me the terms, the interest rate, and the service that I was expecting. They had the best quote out of everyone that I checked out. They handle all the paperwork directly themselves, so all I have to do is provide the information. I'll let you know if it doesn't work out, but so far it's been going well.
Sincerely,
Michael

Like | Dislike | Share | Posted: Thu, 12/02/2010 - 18:18 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We are beginning to see a consensus attitude towards AIMLoan. That would be, of course, to seek mortgage money elsewhere. Of course, we see all sorts of negativity directed at many (most) of the other lenders discussed on MortgageFit; where does that leave us?

Is there a lender that anyone could trust? Or is it like finding a needle in a haystack? Unfortunately, a great percentage of people are happy with a particular institution, while another group is wholly dissatisfied. Would that we could find a happy medium.

Like | Dislike | Share | Posted: Wed, 02/02/2011 - 07:52

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

To sum up my experience with AIMLoan - torture. For a straight up purchase with a small mortgage (under 50K), with an excellent credit history, they dragged their feet, kept asking to write letters to explain credit inquiries that occurred over 3 months ago, asked for copies of checks of "large deposits" into my checking account. Really??? Who makes copies of checks before depositing them??? Now they are telling me lock is about to expire, and pay up 0.375 points for 15 day extension or 0.5 point for 30 days. I told them that it's been 3 weeks since appraisal was done (via their appraisal mgmt company), they pinned it back on me. So basically they are extorting more money. At this point not sure it's worth it to continue with them and geopardize the closing (it has to occur within next 3 weeks), or should I just go with another lender...

In either case, BEWARE, STAY AWAY FROM AIMLOAN!!!

Like | Dislike | Share | Posted: Tue, 01/04/2011 - 06:12 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We did. We were refused and had to pay a $30 fee to our current lender to pay for a fax initiated by AIM. Ripoff!

Like | Dislike | Share | Posted: Fri, 11/11/2011 - 06:14

chem234's picture
chem234 | Joined: May 28, 2010 10:55 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I just applied for a refi with AimLoan.com yesterday. I submitted all of the requested documents today via e-mail. I have a 30 day lock. My processor is Maricruz Hernandez. She e-mailed me yesterday and said she will be out of the office until June 1 (after Memorial Day). I will keep you posted on how it goes.

Like | Dislike | Share | Posted: Fri, 05/28/2010 - 11:05 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

JUST REFIED WITH AIM. HAD NO PROBLEMS. RESPONSIVE WITH NO SURPRISES. BEST RATE AND CLOSING COSTS. MY EXPERIENCE HAS BEEN GOOD...CLOSED LAST NIGHT. JS TOLEDO,OHIO

Like | Dislike | Share | Posted: Tue, 02/22/2011 - 09:25 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am in the process of closing right now with AimLoan, buying a HomeTown in Anaheim, the experience i had with this Aimloan, is not bad but Loan Processor does so many mistakes, don,t fill up the Borrower's infromations right. One has to very careful once you get the Docs. & Check they are filled up right.

Like | Dislike | Share | Posted: Sat, 05/22/2010 - 07:37 | Post subject:

jimgilly's picture
jimgilly | Joined: January 27, 2010 11:53 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

deddy54,

You say both lender and title company are blaiming the other for the hold up. What exactly are you being told is the reason for this? Is there a problem with the title or is the title company waiting for Aim Loan to supply information and numbers to prepare closing docs?

Definitely no reason why you should be 90 plus days out without having closed or being told the loan is not going through. I take it though you are not paying for the extensions, which could get costly to Aim Loan if rates start shifting higher than when you locked.

Like | Dislike | Share | Posted: Tue, 04/19/2011 - 01:31

jimgilly's picture
jimgilly | Joined: January 27, 2010 11:53 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Here's where the problem lies. It's not a case of just finding the right lender. The reason is you can find a good lender but end up with a bad loan originator (loan officer/mortgage broker) or a bad loan processor, a bad underwriter, a bad appraiser or any combination of the above. That's why you will find people applying for loans at the same time with the same lender - some claiming it was a great experience and others claiming it was a complete disaster.

Moral of the story is shopping and getting the right loan with the right rates/fees and terms with the right company is much easier said than done. Unfortunately that's the way it is and likely always will be except for the rare few that understand exactly how the game is played.

Like | Dislike | Share | Posted: Wed, 02/02/2011 - 10:51

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

These guys are good. This is my second refi with them in three years, two different properties. Had two different loan people and both have been responsive and professional. The rates are next to impossible to match. The service is top notch.

Like | Dislike | Share | Posted: Wed, 09/30/2009 - 13:22 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Chem, I wouldn't call it useless; without it, you wouldn't have known what you could potentially borrow. Now you know. The lender is restricted in what it can lend based on value of the property; they undoubtedly made you the best offer they could.

Could you have avoided this? Perhaps, but it would only be the case if you had a good feel for the local market, which you apparently didn't have. Useless? I think not, frankly.

Like | Dislike | Share | Posted: Sat, 06/19/2010 - 08:55

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

You have several different options available when refinancing your home mortgage. Look into no points and loan with points. It's best to know all options first before you commit to signing final loan documents with your Mortgage Loan Officer. Talk to a Mortgage Loan Professional today.

Kal Patel
Voyage Home Loans

Like | Dislike | Share | Posted: Tue, 10/13/2009 - 10:19 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I can't disagree but I'll point out one thing that has changed over the years.

Originators used to be able to rely on advice from underwriters more than currently. Unfortunately, things have changed so drastically and so quickly that underwriting is just getting used to something when it changes again, and the originator continues to go with the old information, not realizing it's changed until the deal blows up.

I agree that a processor can truly mess up a file - it happened to me on several occasions; most of them, however, were resolved favorably; but that's more because I insisted on being in on everything that happened with a borrower (this was while I was originating, of course).

When I was underwriting, if an originator asked a question, I was always ready with an answer...not by phone, because it's too easy to be miscontstrued on the phone. Email ruled for me. Processors I worked with in that system were also in the know, so that it all worked out pretty decently.

The 21st century has brought us an awful lot of changes.

Like | Dislike | Share | Posted: Wed, 02/02/2011 - 13:03

dealsbells's picture
dealsbells | Joined: May 9, 2011 11:13 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I often say it before, it is worth repeating, this is the most common and effective ways to find lenders, is talking to you people who know and respect them, to see who to use, and take the referral. Then you sit down with the proposal, so to be honest, ability, dedication and overall appearance of the people of your own determination.

Like | Dislike | Share | Posted: Mon, 05/09/2011 - 11:33

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Am approaching 90 day rate lock limit with them currently. Saturday AM, received an email from the processor requesting repeated transmission of documents I'd already sent early October, and new documents never requested in their original list , all of which they needed in the underwriters hands within 7 calendar days. I'd requested confirmation receipt for all documentation. The processor had replied "I'll review your packet next week" which should have been done 2nd week October. A follow up email I sent on 31 Oct, was replied to with "I'm busy processing people's apps who are closer to expiration." So, I've filed a BBB complaint, and requested they extend my rate lock to give them time to fund my refi without paying lock extension fees.

Like | Dislike | Share | Posted: Mon, 11/09/2009 - 06:26

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi garry,

I can understand your situation. Most lenders don't agree to offer a loan of such a small amount. It will be better if you could get in touch with the private lenders and check out if they can help you with the loan.

Thanks

Like | Dislike | Share | Posted: Tue, 02/26/2013 - 21:33

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Amanda, it's profitable to "look twice" at companies no matter where they emanate from. I've often stated it before, and it is worth repeating, that the most common effective way to find a lender is to speak to people who you know and respect to find out who they used and to take a referral. Then, you sit down with the person recommended to make your own determination as to veracity, competence, professionalism and overall countenance. Ultimately, you need to make the decision for yourself that "this person" is the one you can rely on to work on your behalf for the best product and pricing you can obtain.

Like | Dislike | Share | Posted: Tue, 07/13/2010 - 08:11

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am currently dealing with aim loans. Gave them all my information. Came a 15yr at 4% no points. They came back to day after I had gave them my debt card number for the $325 fee they charge. She said I didnt have enough income to debt ratio and they could not approve me for 15yrs, but asked me if I would be will to try 20yr loan at 4.35 instead of 4% for 15yrs. Can I stop the $325 fee from coming out of my checking and move to a different company. Its really confusing to me. my brother is smart about this stuff and hes wondering what there doing too. Chris Volk

Like | Dislike | Share | Posted: Fri, 05/28/2010 - 23:00 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi David!

Welcome to the forums!

Thanks for sharing your opinion and experience in the forums! :)

Sussane

Like | Dislike | Share | Posted: Mon, 03/04/2013 - 22:16

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My wife and I tried to refinance with Aimloan earlier this year. Like many others who have posted on here, we experienced:

1. Major runaround. They requested the same documents several times. They requested documents at the last minute in order exceed the lock period resulting in our having to pay a higher rate .25%. It is plain to see that they do this when the rates are going up and they would lose money on your loan or refinance. We originally applied for a refinance in Dec 09 and the rates went up in Jan 10 when our loan was to close. Guess what? They made excuses, asked for paperwork unnecessarily in or order for our signing date to pass without our closing. Look at any website that shows the 3 year mortgage trend rates. Notice the higher rate between Dec 09 and Jan 10. Coincidence? No, they play applicants once they have you hooked for the $300 appraisal fee. It would have cost us an extra $720 to sign. We had the money but were so disgusted with them that we canceled our application just for the principle of the matter. Here is the copy of the email from Nadine Edwards their loan processor. As you can see, it was their fault for the timing and they asked us to pay a higher rate because of their taking too long!!

Your file was submitted to our underwriting department and I received the file back. I wanted to give you an update and advise that the investor has ordered a desk review of your appraisal to clarify some questions about the value and comparables used. I wanted to give you a heads up that once the appraisal had been reviewed they will either agree with the original appraised value given or disagree and make the appropriate adjustments. These adjustments good go up or down, so it "could" affect the current appraised value. If the review comes back with a lower value, we will have use the new value. I just wanted to give you a heads up, so that you are not blindsided if a lower value comes back.
Also, since you would need to sign today in order to meet your lock date, it appears you would need a lock extension. There is a .25 pt charge based on your loan amount to extend the lock at your current rate, this fee would be paid at closing. If you choose not to extend the lock, then you would receive worse case pricing plus an 1/8th. You may review our rate lock policy.

Thank you for choosing AimLoan.com!
Nadine Edwards, Loan Processor

2. No communication and miscommunication when it finally came. If you have endless time to make phone calls, send emails, track down faxes, argue mistakes on their paperwork then maybe you can be successful.

[size=9:e53bf997ba][color=Red:e53bf997ba][Phone number deleted as per forum rules. Thanks.][/color:e53bf997ba][/size:e53bf997ba]

Like | Dislike | Share | Posted: Mon, 08/30/2010 - 10:29 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have had a loan from them since 2011. No problems. I may [url=http://www.mortgagefit.com/refinance.html]refinance[/url] with them if the rates go to 3.0 APR for 20 years. Currently I have 4.01 APR for 30 years. That will knock 8 years off.

Good luck

Like | Dislike | Share | Posted: Mon, 03/04/2013 - 07:24 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We applied for a mortgage [url=http://www.mortgagefit.com/refinance.html]refinance[/url] with AimLoan. Their web site application process was smooth and thorough. However, the processing was quite unsatisfactory. They were constantly requesting additional information, information that should have been asked for in the initial application process. They did this every few days, asking for an item or two at a time which we promptly supplied. Then they informed us that the rate lock was about to expire and we would have to pay a rate lock extension. At that point we switched to another lendor and didn't experience any of these problems. We would recommend looking elsewhere.

Like | Dislike | Share | Posted: Thu, 10/15/2009 - 10:48 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Our Guest's comments are not at all off-base. As noted, local lenders will probably have an opportunity to get a value-check that can avoid problems such as a low value preventing a loan from being approved.

It's awfully convenient (seemingly) to do business online, but we all go back to the maxim that knowing who you're dealing with (having a relationship) is far better than dealing with anonymous phone-answerers. That's not to say it won't work - it's just a more pleasant experience, in most cases, to deal with someone firsthand.

Like | Dislike | Share | Posted: Fri, 06/25/2010 - 10:39

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

They suck.

Like | Dislike | Share | Posted: Fri, 04/15/2011 - 10:29

sunnyca2009's picture
sunnyca2009 | Joined: August 4, 2009 07:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Rob

If you can share your experince with every one that would be really benificial for other readers

Like | Dislike | Share | Posted: Fri, 10/09/2009 - 22:44

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thank you J smith for sharing your opinion in the forums!! :)

Like | Dislike | Share | Posted: Wed, 03/28/2012 - 22:06 | Post subject:

chem234's picture
chem234 | Joined: May 28, 2010 10:55 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Applied 5/27, submitted docs 5/28, and received call from appraiser 6/1 - (only 1 day after Memorial Day Weekend). Appraisal conducted 6/2, now needs to be given to Aimloan. I also received e-mail from processor today indicating that she had completed her review of my documents and all is complete, now waiting for 3rd parties to complete their actions: appraisal, CPL, and 2nd mtg. subordination. Now I just have to wait.

Like | Dislike | Share | Posted: Wed, 06/02/2010 - 11:55 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We used them. On the front end it was great, but working with their people was not a good experience. The rate was 1/2 percent below everyone else creating what appeared to be an over whelming work load for my loan person. They don't answer phones, but replied to my emails the same day but with short unclear answers to my questions. They required way more documentation and it ended up becoming more work than it was worth for that 1/2%. I know times have changed but we have 798 fica, refinancing 200k on a 1.1 million home with liquid assets four times the loan amount. We've purchanced and refinanced many times and we won't use them again. I was a little put off by the long list of demands they made and how it kept growing each week. Be prepared to devote some time to this.

Like | Dislike | Share | Posted: Wed, 08/18/2010 - 11:02

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If you run a business in your house, this company will not give a loan. Their remark is that "the property is income producing". It does not matter that current loan is residential, that the property is residential, and so on. Also, they work in local appraisals that do not know the market (I guess the guys tried very hard to get aimloans' business).

I was pre-approved in the beginning, to find out 10 days latter that I'm producing money in my property, and they cannot give a loan. The fact that is against federal law (to discriminate in offering their services, based on the fact that I have a business in the house), it does not matter to them.

What a bunch of neophytes. You talk with the front desk people, which have to "translate" your discussion to the underwriters.

I will look twice at companies providing loans over internet.

Like | Dislike | Share | Posted: Thu, 07/08/2010 - 15:31 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

What also needs to be mentioned is the typical consumer does very little comparison shopping because quite frankly, they don't know how to do it.

Often it is the bigger name companies that are not the most competitive but because of their size, name recognition and ad budget, that get the business. So right from the start, the homeowner is headed in the wrong direction.

Then if they do find the right company, they have to hope they get a knowledgable loan originator that will explain what their options are and which loan best suits their needs. More often than not, that doesn't happen either.

After that you need a loan processor that is responsive and coordinates everything to make sure the consumer stays informed and makes sure things run smoothly. Problem is you don't get to choose the loan processor.

You also need an underwriter who doesn't gum up the works requesting more information that really isn't needed, questioning the appraisal you just paid for or any other number of reasons.

So what should be a fairly straightforward process often turns out to be a long drawn out and trying experience that isn't the result of something the consumer did on their end. It's a shame that in this day of automation and technological advances. the mortgage industry still operates like it is in the dark ages, charging exorbitant fees and causing undue stress.

Yes there have been an awful lot of changes unfortunately few of them have been for the better.

Like | Dislike | Share | Posted: Thu, 02/03/2011 - 00:18

jimgilly's picture
jimgilly | Joined: January 27, 2010 11:53 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Sorry for the repost but I forgot to login before.

What also needs to be mentioned is the typical consumer does very little comparison shopping because quite frankly, they don't know how to do it.

Often it is the bigger name companies that are not the most competitive but because of their size, name recognition and ad budget, that get the business. So right from the start, the homeowner is headed in the wrong direction.

Then if they do find the right company, they have to hope they get a knowledgable loan originator that will explain what their options are and which loan best suits their needs. More often than not, that doesn't happen either.

After that you need a loan processor that is responsive and coordinates everything to make sure the consumer stays informed and makes sure things run smoothly. Problem is you don't get to choose the loan processor.

You also need an underwriter who doesn't gum up the works requesting more information that really isn't needed, questioning the appraisal you just paid for or any other number of reasons.

So what should be a fairly straightforward process often turns out to be a long drawn out and trying experience that isn't the result of something the consumer did on their end. It's a shame that in this day of automation and technological advances. the mortgage industry still operates like it is in the dark ages, charging exorbitant fees and causing undue stress.

Yes there have been an awful lot of changes unfortunately few of them have been for the better

Like | Dislike | Share | Posted: Thu, 02/03/2011 - 00:27

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Good to know that you have a great experience working with Aimloan! :)

Like | Dislike | Share | Posted: Sun, 07/21/2013 - 22:08

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

While shopping for my refinance, I found Aimloan to have the best rates by .25%. However, I found some forums that spoke negatively. One of the biggest complaints was that Aimloan would prolong the loan process by continuously asking for additional paperwork in order to charge extra to lock in an extension for the rate. I was skeptical and nervous, but applied anyway because of the low rate and cheaper closing costs. I was contacted by Janice Hulse within 24 hours and she answered all my questions and eased my concerns. She told me that I would need to pay .153 in points to extend my rate to 45 days because I needed approval for my mortgage insurance premium.
Tom Apple was my loan processor and was extremely helpful with the process. His initial e-mail was very detailed with the paperwork needed. I had the option to fax or upload the information. I chose to upload and found it a simple process. Over the next month, I needed to upload additional information which I did in a timely matter. Tom promptly responded to my e-mails and answered my questions in a simplified manner. On the 2 occasions that I called him, he took my phone call immediately and answered my questions.
On about day 42, when I knew that I wouldn't be closing on time, Tom sent me an e-mail to extend the rate for another 7 days at no cost to me.
My one complaint has to do with the closing. On June 4, at approximately 9 pm EST, I received an e-mail to set up an appointment with the notary for June 5 or 6. Luckily, I had times available on both days and the notary came to my house. However, I received the final HUD on the day of my appointment and did not have the opportunity to get a cashier's check in time. The notary gave me a FedEx label to send it out at no charge.
I'm happy that Janice helped me overcome my apprehension about refinancing with Aimloan. I will save a substantial amount of money.
I will also send these remarks to the forums that I previously mentioned.
Thank you,

Like | Dislike | Share | Posted: Sun, 07/21/2013 - 19:55 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

On 2/16/2011 AIMloan accreditation was revoked according to the BBB website.

Like | Dislike | Share | Posted: Sun, 02/20/2011 - 09:39 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

How did the loan turn out? I am refinancing with them right now. They admitted they were slow getting my loan underwritten. They extended the rate lock when asked. Closing is tomorrow. So far they have been very responsive. The rate & loan cost was definitely the best around at the time.

Like | Dislike | Share | Posted: Mon, 09/14/2009 - 16:04 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Unfortunately, that is the theme at many mortgage companies, many other entities, even employers. This age may be an information age, but it's fraught with misspellings, inattention to detail, erroneous calculations, lack of care and fatal lack of oversight.

How come I'm not surprised that there are "so many mistakes" and that they "don,t fill up the Borrower's informations right (sic)"? If care was taken with that kind of work, or with complaining posts on the internet (all-inclusive), these sorts of episodes would be far less apt to happen.

Like | Dislike | Share | Posted: Mon, 05/24/2010 - 09:27

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Chem's troubles could have been easily avoided by using a local lender who does ''have a feel for the local market''. A local lender can easily made a quick call to an appraiser or realtor friend who could have taken 5 minutes to make sure we are in the ballpark and not 50k off.

Why people continue to use these nationwide scamster sweatshops is beyond me.

Shop local people! Why use these nationwide sweat shops????

Like | Dislike | Share | Posted: Mon, 06/21/2010 - 16:34

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Going thru this right now...they want extension fees and I refuse to pay it...especially when the current rate is 1/8 lower than my lock rate. I believe they intentionally dragged their heels to drum up more costs. I have 7 days to close on this lock...if it doesnt happen I plan to take them to small claims court to get my appraisal money back.

Like | Dislike | Share | Posted: Wed, 09/16/2009 - 12:37 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

DO NOT USE AIMLOAN!!! You will regret it. Horrible, horrible company that specializes in screwing home buyers.

Like | Dislike | Share | Posted: Thu, 10/08/2009 - 18:20 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If you do not want to go ahead with the deal, then you can cancel it. You will have to contact the lender regarding the same. Once the deal is canceled the lender will stop deducting the amount from your checking account.

Like | Dislike | Share | Posted: Mon, 05/31/2010 - 23:20

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks for sharing your experience in the forums! I'm sure your experience will help other decide whether or not they should go with Aim Loan.

Like | Dislike | Share | Posted: Tue, 08/31/2010 - 21:47

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

another borrower had this to say and my loan was exactly the same story. sent things multiple times and they invented new things a day before we were to go to underwriting. Just requested a hud-1 from our purchase 5 months ago and now are preping us for more fees on rate lock expiration that they have caused. Disgusting company , avoid like the plague.

From the other borrower- Major runaround. They requested the same documents several times. They requested documents at the last minute in order exceed the lock period resulting in our having to pay a higher rate .25%.

Like | Dislike | Share | Posted: Tue, 02/01/2011 - 19:22 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Most of what an underwriter requests these days is due to continuing inconsistencies with Fannie and Freddie and/or FHA. Their QC requirements and their insistence on certain specific things to be included in appraisals, etc. make an underwriter pull what little hair is left on his head completely out.

Well, maybe not quite that ridiculous, but you're hard-pressed to make those agencies happy.

Not only that, but trying to get any information from the agencies is awfully difficult. Call them up, ask your question, and they ask you if you've looked it up in the Guide. Well, of course, you say, and then they refer you back there anyway. Not entirely friendly...and one of them is far worse than the other, but I'll leave it to someone else to name names.

Like | Dislike | Share | Posted: Mon, 02/07/2011 - 13:25

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Most of what an underwriter requests these days is due to continuing inconsistencies with Fannie and Freddie and/or FHA. Their QC requirements and their insistence on certain specific things to be included in appraisals, etc. make an underwriter pull what little hair is left on his head completely out.

Well, maybe not quite that ridiculous, but you're hard-pressed to make those agencies happy.

Not only that, but trying to get any information from the agencies is awfully difficult. Call them up, ask your question, and they ask you if you've looked it up in the Guide. Well, of course, you say, and then they refer you back there anyway. Not entirely friendly...and one of them is far worse than the other, but I'll leave it to someone else to name names.

Like | Dislike | Share | Posted: Mon, 02/07/2011 - 13:25

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I decided to refinance when rates dropped to 4% for a few days. Everything went okay and I felt lucky because rates jumped shortly after. I got all the paperwork to Aim but had a difficult time getting them to answer my calls/emails to verify they had eveything they needed. Then the stall began. Because rates jumped I knew they were going to pull a scam and wait until the lock expired. Sure enough, despite my constant calls/emails they finally sent me an email on the expiration day telling me they'd need another $1050 to add 15 more days to the lock. A realtor friend of mine warned me they would do this because rates had jumped so much. Expenses were too high now so I canceled. My two cents - this company is a scam who will try to nickel and dime you. Stay away.

Like | Dislike | Share | Posted: Mon, 12/13/2010 - 17:41 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Guest, your many times of purchasing and refinancing undoubtedly took place in substantially different times. Is that fair to say?

We've found that the paperwork requirements for borrowers are far more onerous than previously, and becoming a drudge for everyone on a continuing basis. This is truly a new era in mortgage lending, and I think we all have to prepare ourselves to be annoyed, put off and wearied by the demands of lenders for more and more paperwork.

It's not to say that it's a favorable thing; their need for more paperwork slows down the process without question. Processors, loan officers et al are also burdened far more then in the past.

Like | Dislike | Share | Posted: Thu, 08/26/2010 - 08:06

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