Gerard Mortgage Chimney Rock Dr, Waxahachie, Texas

Gerard Mortgage Reviews

4.3 stars based on 4 reviews

Featured Comments:

• C

  Charmane Thomas

  5.0

  Eric Gerard with Gerard Mortgage provided us with excellent service and made the home buying process stress free. From the beginning to the end. We closed in less than 30 days!!. We would also like to thank our realtor Timothy Davis with Gerard Mortgage. He went above and beyond to help us find a home in the area we wanted. The whole experience was awesome!!!!

• G

  Geovonna “GeGe Marie” Vassel

  5.0

  Working with Eric on getting into my forever home as a single mother was the best decision that I'd ever made. Eric was available to answer all of my questions in a way that I understood the processes and what to expect!I appreciate your help and support and would definitely recommend your services to anyone! Also, Celeste is such a sweet heart and an absolute pleasure too work with! Thank you! Thank you! Thank you!

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  Response from the owner

  Thank you, Geovonna! It was a pleasure serving you and congratulations again on your new home!

• T

  Tiara Harris

  1.0

  Just don’t do it. Most awful experience with constant excuses. Our rate was not locked in after we believed for months it was. We were told we were accepted until the underwriter explained and told us it was not official. The option to lock in our original rate which was 3.6% was not even given and ended up costing us a nearly 2% higher rate plus nearly $900 to lock it in after nearly 3 months of not knowing and that lack of communication from Gerard Mortgage. Then the second rate which was higher was supposed to be locked in and again was only locked in for 10 days without us knowing or making that decision. Thank God we were able to get a free extension. We put in an offer in December and was supposed to be moved in February. Still not moved in yet because of the lack of persistence from those supposed to be working for us. No fees were transparent prior to each fee, the appraisal took 3 months longer and was not even requested when it should have been, and as first time buyers nothing was explained. Every update we received was from our own persistence with a constant “it’s out of my hands.” The day we closed after paying $1,100 for an appraisal the contract showed we still owed money which we did not. It took all day to get it fixed. Ultimately the job was just done poorly and not well. Btw we are currently in our 9th month of pregnancy, 18 days from our due date moving in 10 days prior to our due date. When we are paying someone and have so much money tied up then there should always be transparency, urgency, and you should NEVER assume or make decisions for us. The different options available should ALWAYS be present and provided instead of “I was trying to save y’all some money.” If it was not for our local real estate agent we were working with we would not have made it. If we were not in an urgent state and risk of losing the home we would have found someone else immediately. When we refinance we WILL NOT be refinancing with this company. Word of advice… research and ask around locally for someone else to work with and even local businesses. A friend recommended us and he nor we will recommend anyone else. We have actually advised against several inquiries from family and friends regarding this company and our experience. To your response: Your response has been the most responsive and quickest it has ever been. Even after all paperwork was submitted you still, however, waited months to lock in a rate that should have already been locked. The issue was not only not given an option not only once but twice. Again, everything should have been transparent instead of a consistent blind side. Then the second lock in was 10 days again not a decision we made but instead you did without our consent or knowledge. With the appraisal, that situation should have been remained on top of again as mentioned before with updates having to be pushed on our end without any initiative on your end. We were fortunate to have our local agent make calls and give us more explanatory information regarding the appraisal and once again time was wasted on the end of the lender and an appraisal order was put in later than it should have been. I appreciate your expedite response after all this time of working with you, however, responsibility must be accepted when the ball was dropped and the ball was definitely dropped. Taking responsibility would have looked far better instead of the tenth “out of our hands” excuse which again seems to be the norm in this company. Our experience and unpleasant experience has been constantly communicated throughout this entire process without any resolution and I am sorry to have to even write such a review.

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  Response from the owner

  I'm sorry your experience wasn't as expected. We are not able to lock your rate in until we have all of the documentation to submit your loan to underwriting. We waited several weeks to get updated bank statements from you. The appraisal process is not in the lender's control. We placed the order and unfortunately with the purchase being in a rural town of less than 5,000 people, there are not many appraisers that are available to appraise the property. Once an appraiser picked up the order, it was a longer timeframe to get the report back due to the limited number appraisers that work the area. It was around that time that we locked the interest rate due to rate locks are subject to expire. Rural towns tend to have a longer than normal turnaround time. The appraiser who picked up the order, stopped responding to the appraisal management company and we had to place another order. All of these circumstances are out of our control. Our company was able to get a free rate lock extension and we paid for a rapid rescore for the borrower which was over $500 which made their loan terms more favorable. It's unfortunate that the appraisal process went the way it did, but it is not a reflection of Gerard Mortgage and our level of service. We do not conduct appraisals and we do not set the fee. This is done through an unaffiliated 3rd party through the lender. Also, the agent that you worked with was a referral from our company. We never assume anything for our clients, nor do we set interest rates. Interest rates are like gas prices. They go up and down. Also, interest rates are impacted by credit scores. The higher the score, the lower the rate. I'm glad we were able to help you and your family close on your home and I apologize for the experience that you had which again, was not in Gerard Mortgage's control. We pride ourselves on excellent customer service. Obtaining a loan for a home, there are many parties involved. We keep an open line of communication. We emailed, text and even conducted phone calls outside of normal business hours to provide updates. We appreciate your business and wish you nothing but the best.

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