I received a letter in the mail from Blue Brick Financial.
1. NO postmark, just “PRSRT STD U.S. Postage Paid Phoenix, AZ PERMIT #5488.
2. NO return address.
These two items are enough to tell you that it is spam/marking crap, otherwise, why are they being deceptive?
The letter also had the wrong loan amount on my house, which means they just trolled some database somewhere and got a number
They advertise ZERO closing cost (that they pay everything including appraisal, title fee, and every other fee, and that these fees are not added to your loan balance).
Guess what, if it sounds to good to be true, it is.
I’m sure they’ll write you a loan with ZERO fees, it’s just that the interest rate won’t be the 3.75% 30-yr loan they advertised on Nov 27, 2017 (the date of their letter).
It will probably be a 5% loan or something crazy.
If you want to refi, and you have perfect credit (no late payments and a credit score over 800) Provident will offer you the lowest rate (although you’ll have to do a lot of paperwork yourself, like uploading scanned copies of paycheck stubs, insurance statements, etc.) but as long as you have all your records, and several hours time, you can do it.
Amerisave is another online vendor that has good rates for perfect credit (just a little higher than Provident) and again, you do a lot of scanning and uploading.
I’ve used Amerisave on half a dozen refi’s. There’s a lot of complaints online about Amerisave, and they can take a long time to close a loan, but every app I’ve submitted has been approved at the rate quote I got when I applied on their website.
If YOU enter a fico score of 750 on Amerisave’s website, apply, then you’ll be quoted a rate.
But when they pull your score, if your score is 600, then obviously, you won’t get the rate on the website based on the score you entered.
I think this catches a lot of people and they complain.
The best bank was ABN-AMRO. When rates went down, sometimes I could just call them and they’d lower my rate (that was before the 2008 mess).
Unfortunately, ABN-AMRO was bought up by some crappy bank.
The bottom of the letter said
Please contact me at 801 505 8027 or bluebrickfinancial.com, Dan Richardson Owner/Broker – Blue Brick Financial LLC.
I don’t know why a Utah area code (801) is sending me mail in calif?
End of review.