Laurel RoadReviews of laurelroad.com

Between the initial quote from a rep and signing, the actual rate increased. This takes into account all discounts for paperless and opening other accounts.

Excellent 🌝🌝🌝🌝

Wanted to leave an honest and thorough review because home buying is stressful enough and it's hard to know who you can trust. My experience reflects the promotions that laurel road offers to physicians for mortgages. I can not speak to the value of their offers for non-physicians or their other lending programs (personal loans, student loans, etc). This review is based solely on the home buying process with Laurel Road, as we have yet to experience working with them much beyond that point. tldr; Pros: VERY competitive interest rate NO PMI with 95% financing Initial communication about terms and options was great (at least in my experience) No surprise fees at closing Will not sell your loan to some unknown servicer Cons: Communication after under contract is very SLOW and stressful (worse if you are not on the east coast with time differences) Some home sellers exclusively work with local lenders Your realtor may pressure you to use someone they have worked with before Our realtor strongly encouraged us to use a local lender (not Laurel Road) for our mortgage, but the local lender had much worse terms. We would have had an interest rate 1.75% higher than what Laurel Road offered, the closing costs were DOUBLE, AND there would have been a 300/mo PMI with the local lender. It clearly did not seem worth it to alay the concerns of working with a lender the realtor was less familiar with, but BOTH the local lender and the realtor raised concerns that the deal with Laurel Road might have seemed better, but that ultimately it probably would not close and that there would be surprise fees. So that obviously freaked me out, but we took a chance with Laurel Road and we ultimately closed and everything is fine. The realtor and local lender were probably advising from their experience with online lenders, but honestly seeing how everything worked out MUCH better for us with Laurel Road looking back their advice seems predatory. We have ALREADY saved thousands up front and will CONTINUE to save thousands moving forward because we went with Laurel Road. We are SO glad we chose Laurel Road for this reason. But there were some bumps along the road. Communication with Laurel Road was a struggle after we were in contract. Before we were under contract it was really easy to get a hold of my loan officer, and he spent a lot of time with me discussing the best options for our situation. But after we were under contract it was hard to get him on the phone or to respond timely to emails. Both myself and my realtor had to call/email multiple times to get information and press things along to avoid any delays, which certainly stoked the fears that my realtor and the local lender were right about Laurel Road not closing the deal. But they were wrong! Ultimately there was no delay as a result of this poor communication, but it certainly added to the home buying anxiety so thats why they get only 4 stars. The only delays with closing we experienced were exclusively due to delays with the appraisal management company, which is completely out of control of any lender, local or otherwise. Looking at other reviews here and other places it seems like the poor communication sometimes does lead to delays/issues, but that was not my experience. Whether this was due to my availability to hound my loan officer almost every other day to keep things moving along, I'm not sure. If the uncertainty, stress, and time that may come with poor communication is not worth the thousands of dollars you would save (depending on what other lenders are offering you), then maybe go with others. But it was a pretty easy decision for me because of just how much better their offer was. Certainly don't let your realtor or other lenders use scare tactics to push you away from Laurel Road though. They closed for me. Your realtor will not have to deal with the consequences of terrible mortgage terms for the length of your loan. I'm glad I went against their advice, and went with what made sense for my situation.

Simple, straight forward, easier than most. This is much more like what you want, when you refinance student loans, compared to what other sites offer.

Thank you for the experience!

Applying was quick and easy. Rates were an improvement over what I had been paying.

The entire process of refinancing my loans was fairly straight forward and easy to complete. However I am still seeing a small amount due on my student loans through my previous provider and am concerned the total amount wasn't paid off as promised. I also have not been able to change the due date of my student loan payments which is very inconvenient.

The process of application was extremely easy. I knew exactly what they needed and when they needed it by. Communication throughout the transfer of loan was amazing. The only this that could have been better was the time it took to approve. But, overall I highly recommend Laurel Road if you need to refinance your student loans. Great company to work with.