What a horrible experience it has been to buy my first house thank you Flag Star for that. They will do anything to benefit themselves and make your life miserable. So many things that I find hard to believe are even legal. It was an FHA loan so we did a few repairs sent them proof, they had "their inspector" come out and look at it all seemed well. Until it was time to give us our repair escrow money back (which by the way the whole process took forever so I hope they enjoyed getting all the interest from OUR repair escrow) We are only getting half our money back and the other half is going into "principle" When I bought the house I had to add another $2000 of my own money into the cost for the repair escrow..we did the god damn repairs and because we spent less than $2000 on repairs we don't get it all back?!?! SCAM ARTISTS!! Basically I'm losing $1000 cash which I need to do the work I WANT on the house. I don't want the money in "principle" I need it back!! They are rude on the phone and play shady games..both during and after the house purchasing process. Most banks suck in general but Flag Star is the worst to go through for anything!! Watch your backs..read the fine print, they will do ANYTHING to make money and make you lose money. It's almost like one big game to them and they don't play fair. Just don't do anything with Flag Star they need to be shut down. They don't need more customers. They need to not exist. Really wish I would have gone with another bank. Greedy, selfish, money hungry people. I literally HATE Flag Star. I hope karma bites them in the butt one day.
Using Flagstar's online site was horrible. Complicated system for establishing the account, and then everytime I wanted to login more complicated steps. Finally was able to move money from checking account to Flagstar online account. When I saw the $25 monthly account charge I wanted to close my Flagstar account but the only way to get my money back into my checking account was via wiretransfer and another $25 fee. So I can transfer money in but not out? Between all the fees I lost $65 on $1,000. And their customer service was also horrible. Flagstar should take a look an how Captial One 360 conducts their online banking.
Applied for a delayed financing mortgage. We met all the requirements and after 3 weeks of constant questions from underwriting. At the last minute after answering all their questions promptly, they informed us that they would not adhere to the guidelines for the delayed finance program. The reason was that I didn't pay enough for the home and the appraisal came in to high. I dumped 30,000 of my own money into rehab the house.That's why the appraisal came in high. The funny thing is they had all the numbers 3 weeks earlier when they gave me the conditional approval based on those numbers. My mortgage broker kept asking them to just give us all the questions at once so that we could close. They just kept asking questions until there were no more and they were backed into a corner. Most unprofessional conduct I have ever seen.We were on a time limit and they ran the clock down and offered me a more expensive product at the last minute. Learned my lesson, ask the bank that will be doing the underwriting in advance, if it is Flagstar, keep looking. I will never do business with Flagstar and I warn everyone I meet. I am sorry the scale here doesn't allow for zeros.