My fiance and I decided to buy a house with the mortgage rates being so low.in our search we found a new home we both agreed on, and the buyer bonus was through a preferred lender only. We had been pre-approved through another lender, but we wanted the full buyer bonus because that was little or no money out of our pocket for us at closing. (First time home buyers have little or no money for closing usually.)
The loan went through and we were all excited about the house closing and moving in. Security Mortgage had requested some more current information from me, and we went by the office to drop the information off on my day off. We found our mortgage payment had gone up and we inquired as to why. The only answer we got was "The interest rates went up." That is a TOTAL AND ABSOLUTE lie because we went back to our original lender the next day, who then got us pre-approved for an even lower interest rate and his closing costs were more than $2,000 less than Security Mortgage! The credit score was not an issue at all, and there is no reason we shouldn't have gotten the best interest rate out there. We gave Security Mortgage the chance to meet this deal and they couldn't even come close. My own personal advice "DO NOT USE THIS MORTGAGE COMPANY, THEIR INTENTIONS ARE NOT IN THE BEST INTEREST OF THE CONSUMERS!" I wouldn't send anyone I knew to this company and I hope this helps those young first time buyers, or any buyers out there who are buying a house.
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