ING Direct -  Best Mortgage Rates Lender

Rating:  4.0 star rating

Types of loans available: 15 year fixed, 30 year fixed,  ARM,  FHA loans,  Jumbo Loans

                                               home purchase loans, refinance loans, reverse mortgages

See Top Rated Lender Here

Review of ING Direct

We did a refinance with ING Direct and found the entire process to be simple, fast and easy. Customer service in our case was outstanding, with excellent communication from the folks at ING Direct.

We checked on a 5 year arm that had adjusted in February. It adjusted up to a little over 6% (from just under 5%) which will increase the payment some, but it is not too bad.  We also checked on a refinance into a either a 30 year fixed or another 5 year arm, depending on which gave us the best rate. Unfortunately, at that time, rates were higher than what the first arm had adjusted to, so we decided to  just keep an eye on rates until they fell below our current rate.

In July, rates fell almost to 5.5% on a five year arm, so we called ING Direct to see if we could get this rate. We found them through a rate chart on online. We talked to a couple other mortgage companies including, Bank of America and  Quicken Loans and found them to be very similar to the rates and quality of customer service.

ING Direct took my information, pulled up a couple of options and let me view the details online.  The banker Peter went over in detail what the terms of the loan were and answered all of our questions 

We asked him about a second mortgage, which we were hoping to roll together. Even if we couldn't refinance the second, getting the 5.6% on the first for five years was a win. All we had to provide was a  $500 deposit, and were comfortable enough with the numbers and details to eventually move ahead with at least getting the rate of the first mortgage.

From there, everything was clear sailing. All we had to do was provide our payroll stubs, some savings and checking account statements and the phone number of our insurance agent so they could verify how much homeowners insurance to deposit into escrow. The customer service woman who nursed the loan through called us regularly and each time walked me through the terms of the loan and asked me if this was meeting my goals. I could sign most of the documents online. Pete also checked in frequently.

 Because the rate lock was about to expire (it did take a little time to work out some tax details around escrow -- I wanted to avoid having to bring cash to closing), I was at risk for losing my rate. ING Direct pushed the loan through in under 24 hours and scheduled my closing at my home at 8:30 at night so we could still get the rate. They sent someone out to my house with the documents that night, and we signed everything on my back porch. I've bought two homes in the past eight years, and done at least four refinances and this was simply the easiest loan I ever did, especially in terms of the closing.

 We never felt pressured, they answered all my questions and were always extremely friendly and helpful. They seemed to really want my business and were always professional and responsive. Clearly from some of the comments on this board, there may be some bankers at ING Direct who need to maybe go or at least polish up their customer service skills, but the people weworked with were consummate professionals. It seems like overall the positive reviews here are much higher than the negative, so I think people should read both before deciding whether you want to do business with ING Direct. Our experience was excellent

Also, ING Direct isn't the cheapest when it comes to their advertised rates, but it is worth the trouble of  researching as any mortgage company. We did get what they said we would get, which is the most important thing. Getting a quarter point lower just isn't worth the hassle sometimes, especially when you are trying to get a lower rate and payment period. Be sure to read the docs carefully with any mortgage offer and ask the mortgage lender to go through the numbers with you. Show them the competing offers for second opinions and don't let people tell you things like "that's a bad deal" -- make them do the math with you. I did this with ING Direct and it worked.

 


 

                                         Privacy policy          Risk Disclosure