AmeriGroup Mortgage
Reviews and Complaints

The tactics of this company alone are enough to send you running away. Just their mail come on, ought to tell you they are fly by night
high pressure crooks. This kind of company going after vets is a crime in my opinion. This is what are congressmen ought to be policing on behalf of the vets and citizens of this country. To all my fellow vets, STAY AWAY FROM THIS COMPANY. ANY COMPANY THAT USES TRICKERY AND DISGUISE IN THEIR MAIL TO MAKE IT LOOK OFFICIAL, USUALLY CANNOT GET CLIENTS HONESTLY.
STAY AWAY STAY AWAY STAY AWAY STAY AWAY STAY AWAY CROOKS CROOKS CROOKS CROOKS CROOKS CROOKS

Glad to see we are not the only ones ! My husband and I have the same complaint against Amerigroup Mortgage Company. The main difference is that we have NEVER solicited their services; we have NO IDEA how they got out number. We are called relentlessly, sometimes twice a day...EVERY day ! We say we are not interested and never have been/never will be; we ask to be removed from the mailing list, to speak with supervisors, yell and swear at them...to NO AVAIL ! They continue to call AGAIN and AGAIN and AGAIN...there are several different numbers they call from, and they ask for myself or my husband alternately...SERIOUSLY...if anybody knows how to file an official complaint against them or some sort of injunction...PLEASE let me know!

Don't let these people waste your time. Throw them out when they start getting off track. My bank is B of A and I live in California. I have my original mortgage there and they are running the Irrrl for me. I'm getting 3.5%, thirty year, with a credit that will cover most of the costs (but not the funding fee) and I will have to prepay escrow and taxes for the year in advance. I'm not sure if I have money in the escrow account for the mortgage I have now. But if so they will return it. I've had the same bank for forty plus years. No guff or con with the bank or people I've dealt with. I don't know how it is in other areas.

My "red flag" was when I about interest rates going up after 38 months, if interest rates go up and down then it is not fixed! I mean duh ! a two hour presentation, a call to the manager was not going to change my mind at all, not to mention the representative did not even have a phone number for me to call her back... aww hell no, these people are SCAM ARTIST !, I called my VA Lender and they had nothing good to say about these slugs.

My contact with this company has been limited, but I already don't like them. Thanks for leaving this comment.

WOW thanks for your comment! They did the same thing to my husband and I. They were nice at first and when my husband and I ask for a couple days to think about the offer they became real rude. the gals called her manager and told him we didn't want to go through with the deal and ect! BUT that wasn't the case we just wanted some time to research and make sure we were making the right choice. They kept pushing us, which really made us nervous. Finally we got the lady to leave after two hours and honestly we were wanting to except, it sounded and looked like a great deal. My husband being more cautions said can you give us two days to think about it. She left upset and didn't want to leave any of here notes or paperwork she filled out for us. She had her own little lap top with some predictor loaded on it and broke down everything thing to us. A 2.5% interest's rate sounds great but its only for 39 month after that there no proof that its will only go up 1% like she was saying. WHAT IF IT WENT to 11% or 29% we would be screwed. I'm still not sure but I'm kinda glade we didn't choose to refinance with them. I wish I could of read some positive feedback about there company so I could go and tell my husband he was wrong and we should consider it but I haven't to many. It sounds like to much of a risk . After reading some comments where some people sign the application and were asked to pay a fee towards the end really some it up for me. I glade we didn't get to that point.

I read this compliaint, call to cancel my appointment an was harassed by the company sales person to the point that we hung up on them, then he had the nerve to call back an continue to harass us even further about not canceling the appointment, we had to threaten him with a lawyer to get him to leave us alone!

Thank you so much for the info. Rep is here right now and I mentioned Hybid and he got upset...LOL

I am a former employee who as constantly told my supervisor we were in violation of the national do not call list FCC law.
As a "assistant loan officer" (which we had no licensure from the county or state) when someone told me they were on the DO NOT CALL national registry-or any other, I was told to continue pitching them, or I would be "written up" and terminated.
Since I was older and my Verifiers were younger, this created a hostile work environment by that verifier and I.
Finally I reported the problem to another supervisor about this person. I was immediately drug into a room with two high ranking managers. I was berated and screamed at, because it was a complaint about their favorite just promoted supervisor. And I was terminated with no cause, even though the policy manual stated I must report problems and the person would not be retaliated against.

This company has been harassing me for years via mail, email, and phone. They are relentless. I wrote a big complaint against them which was taken off by the owner. I am a single mom and veteran. I have almost paid my house off due to the dropping interest rates but I was almost tricked into going with this company years ago. When I went on ripoff and told the truth about them to warn others about them and to stay away, I was attacked by trolls from the company who resulted in threatening me and calling me disgusting names. The report was for years and had many complaints from others about this company who also were lied to. I could not understand why the owner took the complaint off but I have since learned that the owner is being sued and takes money from companies to take off bad reports as they have people who Google to see what people are saying about them. If something is true then others have the right to know and make their own decisions that is why it is important to warn other consumers. Amerigroup has harassed me so much through the years. I call nearly every week begging and demanding them to stop harassing me and each week they promise to take me off their mailing list but they never do. I got 3 flyers from them in my mailbox today and I am contacted at least once a week. They always disguise their flyers as important or official looking documents. Often, they don't put their name on them and they have two names Mortgage investors is their other name. I went through such a horrible experience with this evil company that every time I see a correspondence from them, I literally get sick. When you call them they treat you like dirt and will not listen to your request to be left alone. I have been transferred to some very nasty people that work there and it appears they enjoying tormenting people who do not want to do business with them. Your report is a hundred percent correct about this company. Tell everyone to beware. I know so much more than this about them. Do not give them your business. Do not trust them. They are predators. Please Be warned.

I just called to cancel my appointment with the loan guy and the manager was trying to get me to reconsider. He kept telling me that their is a 30 year fixed rate at 2.5%. I am not sure if I believe this after reading all the negative comments. Can somebody tell me the truth. Is this correct or a lie?

My husband and I were BOMBARDED with mail and phone calls from this company until finally we caved in last week. Initially we thought this was going to be a good deal because we would save 187.00 per month and have a lower interest rate for 3 years, then the loan would only go up or down based on the rate that banks pay interest on checking and savings accounts. It all sounded good until we saw the price we were paying for buying down our rate and the other closing cost. It came to over 12, 000 dollars ! It would have put us upside down on our home and we would not have re-cooperated our money for longer than we planned on being stationed here. It was NOT a good loan for us, but they insisted it was. They have a hard time taking no for an answer and they try to lure you with the chance to skip making a payment for one month and getting a check for your escrow. I'll admit it was tempting to take the bait, but we didn't. We would rather be able to sell our house when the time comes in a couple years or so. I just warn everyone that these guys are real pushy and very cleaver with words.

I had my Amerigroup "experience" yesterday. Rep showed up on time and set up her presentation. I asked up front if this was an adjustable rate mortgage and she said just wait, all my questions would be answered in her presentation. I explained I had been caught up in the Countrywide ARM thing and was in NO way interested in repeating that experience. If she was only talking about an ARM, we were done. Four and a quarter hours later, she finally left. I assured her I would be doing further research on the comapny and she said she expected nothing less. I guess she hears that a lot and folks don't follow through, but my training is as an investigator (told her that too) and I WOULD be checking up on the company and the product. After checking the BBB website and seeing they're NOT with BBB, I found that they have a B- rating with BBB because of complaints, mostly sales/advertising. Then I went to their own site and found all these negative posts about the sales pitch and realized this was NOT a good deal. I had all the questions about how much would the closing costs be, what's the rate and how long is it good for, can I use the "savings" for other things like my retirement planning (yes, of course), etc. VERY high pressure. Run as fast as you can from these people. They're onl in it to make a fast buck and don't really care about the veterans. Their "Thank you for your service" is just eyewash. Many thanks to others who have posted on this site. You've helped save me from a VERY bad decision. God bless you all!

I filed out all of the paperwork. The loan application and everything but when it came down to a giving him some some I said no. He got on the phone with his boss and tried to talk to me. I stated that I wasn't trying to by a Kirby (the same experience you get with the vacuum company) and he got offended. The guy left with no money but he did leave with my paperwork. SSNs and everything. Now I'm worried about ID theft. I am wondering if I should do something about that?

I had the same experience - they seem to twist the rules of an amortization table - I have financed and refinanced several mortgages over the last two decades and the methods were out of line. The loan officer asked me for a check for my monthly mortgage bill to "lock in the rate". I told him that this was out of line. He also stated that the closing would be done at my home with one of their officers. I am used to going to the title company to sign my loans as they are the ones providing the insurance! I have not done anything with them as they did not give me a good feeling. Has anyone had a positive relationship with these folks?

Thanks to the complaints posted on this website I avoided being scrammed by this so called mortgage company. As a former real estate agent, I was pretty familiar with some of the terms that was being used to convince me that I would be making a huge savings by refinancing with AmeriGroup. I told the young lady over the phone that after viewing the complaints board that I was no longer interested in scheduling a meeting with one of their Reps. She kept insisting on going forward with a scheduling an appointment even after I said that I would not do business with them. I then informed her that her persistence raised a red flag telling me that they were not concerned about the complaints which made me even more cautious. I eventually just hung up the phone. I never had an encounter before such as this but will caution anyone with doing business with AmeriGroup. Should you choose to proceed, verify whether the rate is a fixed rate and whatever is being offered. Before you signed any documents, check with local mortgage companies, credit unions and/or banks first as to what is the lowest interest rates being offered for refinancing especially if you are a veteran.

I had a rep at my house and told her that I wanted to look into the company and try the numbers myself. She would not leave and I told her that I had a appointment within 45 min. to get her to leave. I had a copier, printer and scanner next to me and I made a copy of the form she was not very happy. I was told that the first 36 months would be at 2.5% and then it would depend on the economy that the % could go up or down but not not more than 1%. The cap for the interest rate is 7%. Thank you so much for writing that letter it gave me the information I needed to know.

The very same thing happened to me on March 21, 2012. Rep showing up without cell phone and having to use mine; said VA highly recommendes; I have to make the decision TODAY, said it was a fixed rate at the beginning on the phone to get their foot in my door after I said I will not entertain anything but a fixed rate; ask for (almost demanding) a check, or to put $1672.00 on my credit card immediately to reserve. They started the process without my agreement to to refinance, etc. This is one crazy organization. The federal government needs to look into. I have an email in to the Veterans Administration to see if they are as valid as they say. They talk as if they are the VA.

What type of professional should I seek advise from?

Fourteen phone calls on my cell phone from them since the November 23. I don't own a own a home, am not a vet and have never had a mortgage. They have called up to three times in one day. Once, I answered in Spanish and pretended I didn't speak English, it was actually pretty funny to hear the idiot on the other end not understand what "Quien es, como te llamas" meant. They didn't call for four days and then it started again. I've asked to be removed from their list but don't anticipate the calls ending.

I am on the do not call list. the guy on the phone told me that they are not telemarketers because they are not selling anything over the phone. I asked them to stop calling me but they still do. so now every time they call I will schedule an appointment and when they show up I will slam the door in there face! lets see how much longer they call me!

Fellow Americans,

Thanks for the information. Too, too many scams out there targeting us little guys. I almost let these vampires into our home! Don't buy speakers in the parking lot of a bank on pay day for $20.00 bucks cause it is a concrete block! Only advise I can share with ya'll!

I just had a close encounter myself tonight. The lady came over and arrived late, so my wife had already fallen asleep with my daughter. Well, I told her that we can get the early stuff like determining the rate and if its fixed or not. Cause as I told the person on the phone if it's not fixed it's a show stopper. She tried to tell me that it was against the law to even calculate the rate without my wife. When I tried to at least tie her down to whether it was fixed or not she had to call her manager who tried to get me to wake my wife(LOL). After trying to give me the this the next best thing since sliced bread speech, he let slip that it was a hybrid product they were selling. After politely asking her to leave twice, it was over.
I have to agree with a number of other post I have been reading. They are using nothing put misleading statements in selling there products. If there product was so great they would have nothing to had. There is nothing to copyright or trademark about a va loan. The government has it all in black an white on there website. And they don't promote any business like amerigroup is trying to elude to. I would stay away from this company like the plaque. Truthfully, the VA Hybrid ARM might not be a bad option for some one from a reputable lender based on what I read on the VA web site. But I would not use this company.

I see comments from people telling you to post your phone number on the national "Do Not Call List". Well, I am here to tell you that does not work with these people. My number has been on the "Do Not Call" list since 2003 and I am still receiving daily calls from these vultures. They want me to refinance but I never contacted them in any way and I am not in the process of refinancing with anybody. I received 9 calls in 5 days. I finally picked up the phone and told them to leave me alone. Well, the next day I got more calls. I filed a complaint with the FCC on their "Do Not Call List" website. I got more calls. I started picking up the phone and telling each caller that I was filing complaints each time they called. I got more calls. I have talked (so far) to two supervisors. They still have not stopped. I would NEVER do business with this company and I strongly caution you against having anything to do with them. They are obviously NOT a legitimate business. My next phone call is to my State Attorney Generals office (TX)

Yes all you need to do is put your number on the Do Not Call list. They should stop immeditely or face an $11, 000 fine for every call.

I was getting calls from them almost two times a night, so I got really tired of it so I emailed my State Attorney Generals office (CA) told them what was going on, after that never heard from them again.

First thing all of us should do is add our phone numbers to the National Do Not Call Registry at https://www.donotcall.gov/register/reg.aspx. After the waiting period, I think 30 days, any time anybody calls, you can state the penalties of violating the DNC registry. The penalities are stiff. Next, please be sure to let the VA know about this. They don't want our veterans being abused. And spread the word...bad news travels fast. Let every veteran know as soon as you find out that your are talking to a veteran, even if mortgages aren't discussed. It's a public service.

i am so glad that we researched. its unbelievable how pushy the company is. we were talking about a appointment. definitely pass and make sure they are taking us off their calling list. i knew they were bogus... what a sad thing to do to the veterens, by portraying themselves as legit.

I agree, we filed tonight and after reading this web site, we called the bank and cancelled the check! I'm glad we did.

Thanks.

WOW this seems to be their M.O. Exact thing happened to me in Texas. Do yourself a favor and just say No! don't even waste your time and endanger your safety.

This company Amerigroup Mortgage Company posted to be a legitimate Govt authorized VA Mortgage Company. I have been receiving aggressive mails at least twice a week. Initially, I ignored and shredded the offers. I treated it as a junk but the aggressiveness and mails persisted thus I called to verity the authenticity of the company. I offered to go to the their office for the meeting with them but they insisted the would like to see the property and the mortgage papers. I told my wife this company that we not give details about their offers other than 3% and $400.00 savings per month
As soon as I dropped my phone with the Amerigroup company, I google them. Load behold, they are fraudulent. If it is too good it is probably bad for you. I was right. You MUST listen to you GUT check! I thank you all for your postings. Amerigroup, the Thief!

WOW! I have been getting these same notices in the mail. So the wife and I decided to give the number a try. I called and got the sense this was a very aggressive company because the person setting dates didn't want to tell me anything she just wanted me to agree with her. So we set the date. While we were in the office my wife said "Google" the company and see what comes up. I googled them and man o man I was shocked to see the same thing written over and over. Ripoff, scam, super aggressive almost belligerent sales people sums these people up!
I called back to cancel and was given the super secret number to call for canceling. I call and tell "Mark Thompson" I want to cancel and next thing you know I've got some guy telling me he is a vet and he can't understand why I want to miss out on an opportunity like this. I told him because of the 40 something responses from this website that were all negative and all read the same way. He of course proceeded to tell me all of these comments were from guys who didn't qualify and were not ready for the loan specialist. I asked him to cancel me and then he turned the game into "Are you willing to give up on this or that or Willing to pass up savings". Finally I passed the phone to my wife who would only respond with Cancel Please. He pushed for us to take down the number to the VA and some sort of authorization code. We said sure, anything to get this thing canceled and get off the phone! Just like the man says "STAY STRONG"...don't give in and after each response just say cancel me please. Let your only answer be Cancel Please, even if it makes no sense..just keep saying Cancel Please. Wholly cow if that ### had come into our home I'd have had to run him out with a gun!

SmarterThanAmerigroupMortgage - Yep same thing just happen to me today. Almost fell for it too. But then it suddenlty dawn on me.That although they said it would "save" me $400 a month, they never said what the interest rate was. So I called them back to inquire. Then some one said they only have 1 interest rate available, a 3% loan, but there are many options available? I then asked it this was a 30 yr fixed. they responded with the represntative that shows up at the appointment will be able to answer that question. I said ok and hung up. Now I knew something was not right. I then started looking Amerigroup Mortgage up on the internet and found this site. I am so glad about that. As soon as a saw your posting. I immediatlely called them up and cancelled that appt. I boy did they try to argue with me about why I did not want to save hundreds. Just tell them no, I want to cancel and hang up. TOTAL RIP OFF ALERT. Never deal with this company. You've officially been warned. :)

Check out www.myvarefinance.net, we will give you everything you want in writing and on the phone. We have nothing to hide.

I almost fell into this too. The rep showed up an hour early and my husband wasn't home. He refused to answer any of my questions and said both of us had to be here. Now I know why! If there were any papers to sign after a misleading sales pitch we would be right there to sign them.

I sent him away and rescheduled for the weekend but we did some digging on the net tonight and found all these reviews here. After reading through them I called the number on the card the "loan officer" left and tried to cancel. They will keep you on the phone as long as they can and try to talk you into keeping the appointment. They are shady to say the least. I finally had to say I'm going to watch TV now and hung up on the guy. He was probably talking for 5 minutes after I hung up!

Thanks for these comments. You saved us all a waste of time. We wouldn't have gone for the loan anyway but at least we don't have to sit through a crazy conversation and let some stranger into our home.

Thank you to you and other people who have described their experience with Amerigroup. I was going to call and schedule an appointment. I should have known if it sounds too good it is too good.

We may be able to help. Visit www.myVArefinance.net. We are a bank and not a broker like americorp.

just sent a Amerigroup broker out my door, as soon as I mentioned that I want a fixed rate of 4% for 20 years, that I will not listen to any thing further unless he shows me a paper that says exactly that, 4% for 20 years, he tried to explain that the complaints on this web site were false, I told him, that you just don't get a bad record if you are truly offering a good deal to Veterans. These people are bottom feeders, that are preying on broken warriors, when they are facing finiacial troubles. I truly hoped they were for real, but it just dosen't seem to be any honest business people out there anymore, The Veterans Affairs office should start a fraud investigation into this outfit. Stay away from these slimy worms, they are nothing more than thieves, taking advantage of people, facing hard times. I can think of no lower life form, except Mitt Romney, he must have trained them to steal you blind, while pretending to do you a favor.

Thank god, that I read about this company at last mins on this web page when my bf dealing with the rep. The total amount of how much we save on his example papers. I was curious the amount that we have to borrow and I wasn't happy with the amount come from no where with 11, 000 dls to our mortgage and asking us to write a check for 1, 600 dls by tonight. It freak my bf out and he said he have no money and the rep call operated, the women ask to speak to my bf. She ask him why and my bf explain why, then she tell he could paid 500 dls. Oh hell no. I pull my bf in to the room tell him to said bye to the guy and show him what I was read on this website. I hope they don't call us like you guy or else we have to threat them like your comment.

I made a mistake and contacted them but after looking into their service I was not interested. Most important thing was they lied to me on the phone when I specifically asked if the loan was adjustable and was told no it was fixed. When the rep came to my home I saw on his sheet ARM, that is when again I asked and was told it was a VA Hybrid loan that was fixed and ADJUSTABLE. Asked why didn't they tell me that on the first his reply was that then no one will want to talk to them. I told him I was not intertested and for almost 2 yrs I have been harassed at times even after 9pm and constantly tell them not interested. I guess I will have to threaten them for them to understand that I am serious.

My husband and I are both veteran and each of us have received multiple calls from this company trying to get us to sign up. I went as far as scheduling a meeting with one of the loan officers just to see if it was as good as they say it was, but after reading all the responses, I'm going to call the office as soon as it opens and cancel my appointment. We want to thank everyone who wrote in and helped my husband and I understand that this was "to good to be true" before we got any further along in the process. We also want to thank the guys in our VFW who turned us on the this link. It's a shame that this is going on after all we've done for our country...

We also had this same experience. I had checked this website prior to visit but decided to listen anyway. Thank goodness I had checked it out. Asked right up front what the money amount was out of our pocket. Answer -0-. Went through entire 2.5 hour presentation, then was asked for a check or credit card for 1880.00. I said "no money or no deal", got someone on the phone, spent 10 minutes saying no and finally asked for my papers back. No Deal. Would not give me the papers, so I watched as he crossed out each page. Now will watch for anything to happen to my credit or identity as of course they have my ss number. Bad judgement on my part. Anyway, we "escaped" and actually owe 10, 000.00 less than we would have if we had proceded with the re-finance. As they say "if it sounds too good to be true, it is too good to be true". The presenter was doing his job, I do feel bad because of the "fall out" he probably will have to listen to after we sent him away empty handed, but still glad I have my money in the bank.

We may be able to help. Visit www.myVArefinance.net. We are a bank and not a broker like americorp.

These guys are total jokestors! When we made the appointment for them to come into our home for a presentation, we thought we were talking about a fixed rate program. It quickly became clear that they only offer a 3/1 ARM! Okay at 3%, it seems like a great deal to start, ...13-14K IN FEES IS OUTRAGEOUS! We are already upside down in our mortgage, we certainly don't need to add that amount on to the current 70K that we are uoside down with! My husband has been active duty for 29 years now. They weren't trying to do us any favors...

We may be able to help. Visit www.myVArefinance.net. We are a bank and not a broker like americorp.

Thank you for the information concerning this company. They called us and wanted to schedule an appointment. Saying they are giving great rates to vets. The next time I talk to them I will give them a piece of my mind. They are targeting vet, please do not let them fool you. Thanks for this website i will be using it again.

Afer reading so many of the comments, I feel very fortunate. I got a call from them and they said they wanted to talk to me and my husband about our VA home loan. My husband and I are both vets and have the benefits but when we refinanced our house 8 years ago, the VA rate was higher than the conventional rate we got. So that was a red flag to me. The best thing was being able to tell the woman on the phone that we had just sent in our final house payment. Phew!

Veteran 2012 just called everyone stupid. ARMS are ok for some borrowers and rates have historically favored ARMS. But we are clearly in a whole new era of interest rates and housing market. Take your $350, 000 mortgage on a 3/1 arm and consider worse case of keeping same home/same loan for 30 years in rising rate environment. at the end of 30 years with 3.0% start rate..you will have shelled out a little over $296, 000 in interest payments. 30 year real fixed rate loan at 3.25%, your interest payments would be $215, 796. Realistically you probably aren't going to keep a mortgage loan for 30 years. The math is just not as simple as Veteran 2012 wants to make it...you need a finance calculator or amortization chart to calculate interest.

You are all stupid. VA Hybrid 3/1, 5/1, 7/1. and 10/1 loans have been around for awhile-and if you have the mental capacity to understand basic math, they are a great deal for veterans as an alternative to paying 700K in interest and charges at the conclusion of a 30 year fixed loan for a 350K house. These loans are backed by the US. Government. They are a great way to pay down the principle on a loan. Most of you ###s in this forum are paying approximately 300 month towards the principle on your monthly mortgages, out of your 2600.00 monthly mortage bill-the rest goes to paying interest. Its stunning how stupid the posts are in this forum.

wow it's 2012 and the story sounds just like what this company did to my brother. told him they could get him a 30 year loan. no the payments won't go up, the loan will save you over $10, 000 in the first 3 years (funny how the actual loan offered was a 3/1 arm). brother keeps saying, i need a fixed rate, will be retiring soon. oh, it won't go up, blah, blah, blah. he kept getting told how special he was, these loans are only for veterans like him, blah, blah. The upfront fee is $600, but you know, for you, you are so special, today only, the manager says i can take your application for $150.
salesman leaves, brother figures out it's a 3/1 arm. brother calls family member whose been in mortgage biz forever. family member goes nuts...brother calls to cancel, strong arm sales feeds him a whole long bunch of lies about what a great mortgage this is. gets family member on phone with joe schmoe (think there is really only a couple of guys in office and they just change names for every call). Well they can't really cancel the application because joe schome 2 is gone for the day and he has the file (really, no record in the computer? it is 2012). schmoe #1, tells how they can't be a disreputable company because they have been in biz since henry ford was in short pants. and they are the biggest va lender in america and the no way the va would stand behind them if they were using deceptive sales practices (Hey folks the va ain't involved in the actual loan, they are guaranteeing the loan for the vet not underwriting or selling the mortgage). Proceeds to go on with some bs about how mortgage interest on va loan is not front loaded like other mortgages...never did figure out how that amortization process works). and how the loan won't go up ever because it's tied to a really stable index. call them out on that, it's tied to the the 1 year treasury and whether it will go up or down and when is conjecture. the feds have said they will keep rates low, probably at least until 2015 and beyond but ain't nobody guaranteeing nothing here. rates will go up and treasuries have been in 4--5% range for long periods of time in their history. No talk about the negatives of sucking equity out of home "rolling in closing costs" . And a 30 year irrl costs on this loan would likely run under $3000 and the cost on this hybrid arm around $10000. in a house with no equity anyway.
Snake oil salesmen. The loan itself is probably not a bad loan for some borrowers in some situations but seriously folks, it is a pain in the ### and confusing as hell if you don't understand the mortgage/real estate game...Buyer Beware. Don't sign anything under pressure, go to your current bank, another reputable competitor or two. compare everything...cost of loan, how much equity are they taking by rolling in costs, how do costs compare, how long you going to be in this house or need the mortgage, do you have enough equity to sell the place if you have to, what are the terms of the loan, everything, everything. then if MIC's the best loan take it. Guess what, if the deal is that good and you kicked them out the first time because they seemed so slick, well I am betting that, in the event they really have the best offer, they will let you apply again. every mortgage company wants your business, some proclaim to only do loans that have a benefit but that criteria for a benefit is pretty low. Many times you are better off with your existing "over market rate" mortgage than paying big bucks to carry the lowest interest rate in your neighborhood.
Then again lining the pockets of mortgage originators does help keep the economy stimulated so proceed if you must.

a loan officer came tonite and did his sales pitch and when he was about done my husband said well i am not sure i like this i will have to think about it and the loan officer got upset he all of a sudden got rude he told my husband he was scared, and told me i was scared of the elections and he went from nice to cold hearted and rude . i think this amerigroup company should hire people who care and not rude pigs .i will be calling the office and letting them know what a creep he is and there is no way we will do bussiness with them now .all my husband said was i need to think about it .

I was just called by an Amerigroup person that asked if I was a veteran, and what my loan rate was, I told her I was renting. She started to tell me about a loan package that would help me get a loan for a home, really I said even though I'm unemployed and she said yes with a no income verification loan I could buy a house. I told her that this the exact reason the housing crisis happened a couple years ago, and will happen again very soon. We can all thank the demoncrats for the housing crisis because they wanted banks to lend money to unqualified customers and it all started with Jimmy Carter and the fair housing act, and was continued to this day by demoncrats ( Barney Frank, Chris Dodd, Barrack Odumba) just to name few. Get real this is a scam to put you into bankruptcy and add to their net worth by foreclosing on your. home DON'T BELIEVE ANYTHING THEY SAY, AND HANG UP ON THEM, IF YOU KNOW WHATS GOOD FOR YOU, AND ONLY YOU CAN TELL THAT !

this company is a ripoff. an arm is acutally a good loan for a veteran as they get moved frequently and more than likely would move before it could adjust. however, the fees that they charge are so excessive it is disgusting. they were charging a 1% loan origination, a fee that is now outdated and NO reputable banking instituion charges anymore, and 2.5% for discount points. this was a total of $5400 in points alone. the payment was going to go down. however, they were adding $15K to the loan amount. this would completely SCREW any veteran as it would destroy equity and would take years to see any savings. and, most veterans would be restationed prior to seeing any savings and would be forced to either take a hickey on the sale of their home or rent it out. also, you shouldn't have to pay a deposit or be hassled to see a good faith estimate. one more comment, the fact that they have a SALES REPRESENTATIVE come to your home to pitch the product should be the first red flag.

bottom line - check with USAA, your current bank, or someone reputable. instead of this ripoff, I got my brother hooked up with a lender that reduced his rate by 1.5 points, from a 5.25 to a 3.75. they priced the rate a little higher than market and gave him a credit for ALL of his closing costs. he reduced his rate, and his loan amount stayed the same on a FIXED rate.

be warned.

Just showed the female harpy that was giving me the VA hybrid sales pitch the door. I specifically said I was not interested in an arm loan, but that did not stop the sales pitch. It sounded like a scam to me and not even close to a fixed 15yr loan. If they could have just been a little more up front during the phone call when I said I wanted a fixed rate loan, every ones time could have been saved.

The problem is that if you have to be sold something then the product does not stand on its own value. I have a 15 year fixed rate at 3.5%. I'm in a position where I can refinance to 2.75%; if I make the same payments I can pay off my loan in 12.6 years. I had called them too and had been specific about what I wanted to do and that I was shopping for a refinance. When thier Sales Rep "Loan Officer" did the "Math" he found that if I refinanced with thier product and kept my payments the same to pay down quickly, I would pay off my loan in 13.6 years... Which is already what's left of my loan! I asked him why I should refinance with his product when I'd have to pay more fees and end up exactly where I am now? His handler.. er Manager was probably not happy when he made the call for some help selling me the product (having already shown his hand). These were car salesmen tactics. He kept insisting that I would save money... by "having the flexability" to pay on my loan longer? Does anyone else know what happens when you pay longer on a loan... you pay more interest! Thanks, but no thanks!