About - US Mortgage Capital

Overall Feedback:

I recently secured my mortgage for an investment property from US Mortgage Capital and the process was fairly smooth and I was able to close on time. The reason for my 3 star rating vs 5 star (if I have to just rate them based on the process) is that I ended up paying at least $1100 more in the form of a loan initiation fees on a mortgage of low one hundred thousand whereas multiple online mortgage companies such as Amerisave, Aimloan etc do not charge origination fees or give a credit of the same amount if no points are purchased. I was promised by US Mortgage Capital that they would match the rates of any of the other online companies and if they can't they would pay a fees for not being able to match. Hence I got all my preapprovals from them and when it was time to secure the mortgage, US Mortgage Capital conveniently refused to match the online closing costs (including origination charges). By that time I was already way ahead in the process with them and did not have enough time left to start the process again with another mortgage company but I learned my lesson and am going to look elsewhere for my next mortgage. So, please shop around before committing to this company*****************************Based on the response from the mortgage provider, I am revising my rating to 2 stars. The mortgage provider may have had the price match policy listed on their website and in one of the disclosures but this was never ever mentioned to me when I had called the loan officer and requested to match the price with other lenders on the day I had an accepted offer. During my phone conversation, the loan officer clearly mentioned that they cannot match the price and I would need to pay the $1100 origination fees. There was no mention about me getting a loan estimate. Had this been explicitly asked, it would have taken my few minutes of my time to get a loan estimate and it is a no brainer that anyone would have done that when there are $1100 at stake that too for a loan of low one hundred thousand dollars. Now they are making me responsible for not providing a written loan estimate and as a reason for not doing the price match, expecting me to follow the policy written in a disclosure.