Bank of Internet USA

I tried to get a loan with these guys, but they kept making mistakes. Each time, it would take longer to get new loan docs. Finally, I got so frustrated with my loan officer - he told me he would fix a problem and get back to me, but never did. Finally, I threatened to file with BBB. I got shifted to a manager, who lies and is passive agressive. He told me I would have to wait 45-60 days for my loan (when I had originally been told 30-40 days.) He refused to expedite the paperwork, even though it was way over due. When it looked like it was not going to come even when he said, I sent another email. He said it had been sent out hours earlier, but email really does not get lost. I asked him to send another set, but he never got back to me. I was feeling trapped,because they did lock me in with great rates and terms. But then I had an idea - and sent the terms to a couple of other mortgage places, and one said they would match and get me the money when I needed it, so yay. I have filed with BBB.

Our mortgage consultant didn't tell us that our future home could not be rented out if we used Bank of Internet.  When we received documents to sign, I saw a statement notifying us of this unfortunate fact! Although we planned to make the property in question our permanent residence, we certainly could not commit to this for the length of the mortgage, so we canceled the application with Bank of Internet.
Over the past many months, we have requested that our $500 application fee be refunded, but have not yet received it. We've been told by more than one bank representative, that someone else was handling the matter and would call us back. We've received no calls and no refund.


June 11, 2013
We received a phone call  from Bank of Internet soon after our Angie's List review was posted. Within 10 days of our conversation we received a refund of our deposit.

The experience was really smooth and went well.

As a senior I pay NO monthly fees. Excellent, easy online banking and mobile apps. The few times I've needed to reach them by phone (primarily when opening the acc't) I got right through to a knowledgeable, efficient, and pleasant representative. I'm completely delighted with this bank and their service! Plus interest? How deos it get any better than this?!?

The transfer went well and the checking account works well.

Started great, but in the ongoing process, some of the people I dealt with made errors that cost time and aggravation.  Nevertheless, in the end, we did close the loan, and were reasonably satisfied with the deal.  No better or worse than other mortgage transactions in which I have been involved.  I do like being able to deal with a lot of things electronically.

 bad !! start to finish

The mortgage process went overall.  I admit I was nervous at first because everything was done either on the phone or online.  There was no warm body except at escrow for the signing of the documents.  The mortgage specialist we worked with on the phone was very helpful and knowledgeable, especially about Hawaii's lending conditions.  I was told that mainland lenders are sometimes not familiar with Hawaii's conditions and that can create issues prior to closing.  But there was no issue and the process went smooth.  We closed on time as promised. 
All paperwork had to be scanned and emailed to the mortgage processor.  And there was a 3 hour difference in time zone.  Other than these small issues, it is worth it to save hundreds, and most likely thousands of dollars in fees and with the best rates possible on top of that.  Not a bad deal at all. 

They provide pretty good service. We interact with them online all the time. We do banking online. We would continue to use them in the future.

They were very resposive and allowed us to get the mortgage process completed within our three week time limit. We were pleased. They also refinanced our house just 18 months ago and that went smoothly too.