You smile, you smile
And then the spell was cast
And here we are in heaven
For you are mine at last...
And then the spell was cast
And here we are in heaven
For you are mine at last...
It's easy to sing songs now, but the obstacles were difficult to overcome and lessons learned are valuable.
To start, we were cheated by Bank Of America. Amy Woo (aka Sr. Loan Agent, aka Wicked Witch of the West) charged us a non-refundable $200.00 application fee. She is so greedy that she did not even have the courtesy to tell us that the application fee could be waived if we applied online. Obviously, she was only looking to pocket some cash or bonus from the transaction...
Bank Of America in Alhambra, CA has the worst customer service. They only want to attract and bait customers like me (and you). They do very little to help you. And they certainly don't help you save money. Go to Washington Mutual or Citibank instead. It can't be any worse...
In order to secure a home loan, I went to a loan broker, Elaine from Sunwest Funding (they don't have a web site :( Being raised by my parents to save money, going to a broker would have been unthinkable. But I am actually pleased with the results... Their service goes above and way beyond what a bank will do. Let's just be blunt here: banks don't really give a crap about you...
Elaine and her team actually help their customers! It's no joke. The application fee is about $400.00 but only if they can secure your loan. They will tell you exactly what you need to do, what docs you need to provide, and if something does not seem right, they will help you fix it. They actually help you! I cannot stress that enough. Banks, on the other hand, seem to think that ordinary folks like you and me know everything about the loan process... She even helped us save some money and find ways to increase our credit score by providing counsel on money management. You'll never get that from a bank...
If I were to compare the bank and the broker, it's like day and night. Here are a few reasons:
The bank will not call you. You're not worth the phone call.
The broker will call you, and at your convenience.
The bank will not give you status updates.
The broker will call you to let you know if everything is Ok or if there is a problem.
The bank will wait until the last day to ask for documents that you do not have.
The broker will ask for all relevant documents from the very start.
The bank will say the stupidest things...
Bank: "You only gave us 10 canceled checks. We need 12 (from the last 12 months)"
Me: "I only have 10 because I paid the last 2 in cash"
Bank: "Well... I still need 12 canceled checks from the last 12 months"
Bank: "I need you to sign your signature with your middle initial"
Me: "But I've never signed with my middle initial. If a signature has my middle initial, then it's not my signature"
Bank: "But I need your signature with your middle initial"
Bank: "Yes, 10% down payment is acceptable"
(One month later)
Bank: "You need 20% or the underwriter will not approve it"
Now a quick shoutout for Sunwest Funding, Elaine, and Yoko:
Sunwest Funding Inc
923 E Valley Blvd
San Gabriel, CA 91776
626-280-6666
And Sieu, the realtor who made it happen:
Treeline Realty
9168 Las Tunas Dr
Temple City, CA 91780
626-248-3615
To start, we were cheated by Bank Of America. Amy Woo (aka Sr. Loan Agent, aka Wicked Witch of the West) charged us a non-refundable $200.00 application fee. She is so greedy that she did not even have the courtesy to tell us that the application fee could be waived if we applied online. Obviously, she was only looking to pocket some cash or bonus from the transaction...
Bank Of America in Alhambra, CA has the worst customer service. They only want to attract and bait customers like me (and you). They do very little to help you. And they certainly don't help you save money. Go to Washington Mutual or Citibank instead. It can't be any worse...
In order to secure a home loan, I went to a loan broker, Elaine from Sunwest Funding (they don't have a web site :( Being raised by my parents to save money, going to a broker would have been unthinkable. But I am actually pleased with the results... Their service goes above and way beyond what a bank will do. Let's just be blunt here: banks don't really give a crap about you...
Elaine and her team actually help their customers! It's no joke. The application fee is about $400.00 but only if they can secure your loan. They will tell you exactly what you need to do, what docs you need to provide, and if something does not seem right, they will help you fix it. They actually help you! I cannot stress that enough. Banks, on the other hand, seem to think that ordinary folks like you and me know everything about the loan process... She even helped us save some money and find ways to increase our credit score by providing counsel on money management. You'll never get that from a bank...
If I were to compare the bank and the broker, it's like day and night. Here are a few reasons:
The bank will not call you. You're not worth the phone call.
The broker will call you, and at your convenience.
The bank will not give you status updates.
The broker will call you to let you know if everything is Ok or if there is a problem.
The bank will wait until the last day to ask for documents that you do not have.
The broker will ask for all relevant documents from the very start.
The bank will say the stupidest things...
Bank: "You only gave us 10 canceled checks. We need 12 (from the last 12 months)"
Me: "I only have 10 because I paid the last 2 in cash"
Bank: "Well... I still need 12 canceled checks from the last 12 months"
Bank: "I need you to sign your signature with your middle initial"
Me: "But I've never signed with my middle initial. If a signature has my middle initial, then it's not my signature"
Bank: "But I need your signature with your middle initial"
Bank: "Yes, 10% down payment is acceptable"
(One month later)
Bank: "You need 20% or the underwriter will not approve it"
Now a quick shoutout for Sunwest Funding, Elaine, and Yoko:
Sunwest Funding Inc
923 E Valley Blvd
San Gabriel, CA 91776
626-280-6666
And Sieu, the realtor who made it happen:
Treeline Realty
9168 Las Tunas Dr
Temple City, CA 91780
626-248-3615
