Slow process, average rate, a touch of unethical behavior?
Had a very interesting experience with Premium Mortgage. Our loan officer was Ralph Basile by recommendation of our buying agent (okay, that was probably our first mistake). As someone with a sample size of only 2 mortgages, it's hard to judge the quality of the application process, but it was definitely the worse of the two. Miscommunications and a generally slow process would be the best terms to describe the preapproval process, all for an average rate with a great credit score. All of that would still be enough to earn 3 stars, but the real kicker came after closing. We were in a fortunate situation where the loan could be paid off in full after our previous home had sold. I had contacted Ralph asking to go over the process to pay off the loan, and essentially received deflections and mischaracterizations of the terms of our loan agreement to try and prevent me from making any large payments on the loan before they could sell it off and profit. I will give credit to them though; it only took them 4 days after I said I wanted to pay off the loan for them to sell it off to Citizens One. I don't have much positive to say about the experience, but we understand our situation was a bit different than most. What I can tell you if you do go through Premium Mortgage and pay your loan through more traditional measures is that they don't, in the year 2019, have any method of paying your mortgage online. For an average rate, poor customer service, an inconvenient payment, and some rather unethical practices when things go awry, ask yourself "Why am I going with Premium Mortgage for my mortgage?" If the answer is because your agent suggested it, know that they likely have an advertisement deal with the company and try searching elsewhere first. There are better options out there.