TD Bank

In the end, our mortgage was approved, but it was the worst experience ever. While the officers and employees at the local branch were very nice, the loan processor and loan underwriter were impossible to deal with. Together my daughter and I have purchased 7 homes over the years. Never has the loan process been so convoluted and difficult. We were given a list of documents to be provided and submitted them as requested, over and over again. Then each day they would request something new. Each time we submitted a document, they failed to acknowledge it. They ignored our emails and phone calls. Bottom line, DO NOT USE TD BANK FOR A MORTGAGE! I am just trying to save other Angie's list members the unbelievable headache that we went through for a small mortgage with a 30% down payment.

I think they're absolutely terrific considering I came from Citizens and Bank of America. They're open 7 days a week and when this current job I'm on is done I'll take my check and go right down there to deposit it or if they pay me by credit card I'll use my credit card machine at home and it goes directly to the bank. I have three accounts with them and I can do all my banking online if I like except for my deposits. I go down there in-person usually on average two or three times every week, but with the online thing I'm there daily. They remind me of when I was a kid in the early 60's when all the banks were hometown banks where when you walked in they were friendly and knew you by your first name, which is the kind of bank that they are very similar to and for a corporate bank it's very rare nowadays. They're policies are good and they treat you as a human being. They're great.

I have been with them for some time.

The first line person who answers the phone, presents themselves as a mortgage consultant. When I talked to 2 different people I noticed that they were not well informed or well trained. The application process is confusing. They tell you that the interest rate is not guaranteed but then they ask you to lock into a rate. There is so much confusion when you talk to different people there. I even spoke with a mortgage supervisor and he was not helpful and seemed rushed to get off the phone. At this point, I am locked in because if I withdraw my application I will owe them 0.5% of the loan I am applying for. They didn't tell me upfront that you only have 6 days after application to withdraw your application. The penalty is hidden deep in the contract. One person told me that in some cases they could waive the 0.5% penalty but then when I talked to the supervisor he said they never offer that. They do not have a specialist that knows what they are talking about.