Powder House Mortgage Company

Powder House Mortgage Company Was Awful

Powder House Mortgage Company was awful. I could go on and on about how awful my experience was but my message is skip this place.

The lender i met with was condescending. I asked about whether i would be penalized if I paid my loan off early (some mortgages are set up this way) and he said, “only portfolio banks charge a fee.”

So, not being a financial person i said, so like a bank fo america?” His response, “only porfolio banks” okay, thanks alot guy.

I then told him i was a former state employee and had a retirement account i was thinking of using for a downpayment.

He responded, “oh, were you a teacher?” Not all women are teachers, and how many are employed by a state??? I think cities and towns employ teachers.

He also wouldn’t tell me what rate I could get. Which is the whole purpose of meeting with them.

If the rate isn’t good I won’t be doing business with them. Overall – my recommendation is DON’T GO HERE. I went with Rockland Trust.

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4 reviews on Powder House Mortgage Company

  1. I suggest you do not consider this company for your mortgage needs!!!

    I suggest you do not consider this company for your mortgage needs!!!
    I had a good experience refi my property. When I returned for a second refi it went South.

    Since then all my attempts to resolve the problem did not get any response. Many emails and phone calls that were not returned.
    They promise to treat you as a family!!! I guess that if you have a problem prepared to be out thrown out of the family.

  2. I would NOT recommend doing business with this company!

    I refinanced with Powder House Mortgage Company in and had a horrible experience. Delays, incorrect disclosures, poor communications and a complete lack of attention to detail made for a very frustrating and drawn out re-fi.

    Despite my better judgment, I agreed to refi again with them a couple of months ago on the promise of Jerry Nissenbaum that this would be a better experience. Not so! More incorrect disclosures, failed promises, poor communication, and now silence, hoping I’ll just walk away. I would NOT recommend doing business with this company!

  3. They did a great job for me!

    I am a first time homebuyer and Powder House did a great job for me! My loan originator was Arnold and he took the time to explain the entire process to me and always keep me updated on the status of my application. He took the stress out of the entire process and we closed our loan on time!

    We had checked rates with several other companies and Powder House got us the best rate in town and saved us money! I would highly recommend the Powder House Team to other potential homebuyers. They did a great job for me!

  4. Great

    Amazing nice people would recommend if you need a mortgage!

Broadway 775
Somerville 02144 MA US
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Reviews:4
Reported Loss :4537 $
Severity of Scam :High
Reported by : Anonymous
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