I recently bohugt a home and got financing through Bank of America. First, I completed an on-line questionnaire that gave me a rough prequalification amount and monthly estimated payments. Then I contacted the Mortgage number listed in the paperwork. I provided the Mortgage Specialist with my information, and faxed my supporting documentation (W-2s, letter of intent, etc.) to her. I heard back within 1 week, when I received a Good Faith Estimate in the mail. I immediately called and got information on what everything meant from another Specialist. I also created an on-line account that allowed me to see every step of the process, and where I was in it. From that point on, I worked with my realtor and found a home. When we wrote up my contract, a copy of the Good Faith Estimate letter was included (we blacked out my monthly payment estimate). This showed that I was a serious prequalified buyer. When my offer was accepted, everything moved quickly. Bank of America provided a specific Mortgage Specialist from their Richmond, VA office (I do not live there). I worked with her exclusively, and was able to log into my account and view everything's status. My closing was on time, and I received all of my earnest money deposit back because the seller paid my closing costs. I even got back my application fee of $200. Each Mortgage Specialist that I worked with (the entire process took about 3 months) was professional, patient, and effecient. I would recommend Bank of America to anyone. Afterwards I was able to set up automatic mortgage payments, that I can cancel or change at any time. Also, I can go on-line and pay, as long as the payment is received before the 15th of each month. The fact that I never sat face-to-face with anyone did not hinder the process at all. I later found out that Bank of America has a close on time guarentee.

by Beatriz 09:21:02 AM 2012.03.26