Baba4uCool
New Member
I'm looking into Neighbors Bank for a USDA loan, but I'm a bit wary—has anyone used them and can share honest thoughts? Any red flags or good experiences? https://www.neighborsbank.com
Neighbors Bank USDA Loan Reviews: Good or Red Flags?
- Thread starter Baba4uCool
- Start date
Tape
V.I.P
Overall, the feedback suggests that Neighbors Bank can be a good option, but there are notable red flags to watch out for.
I looked at several customer reviews to see how the bank handles USDA loans and related services.
- Positive points
- Many borrowers describe the staff as professional and helpful.
- The bank often waives monthly fees when you keep a modest balance (about $100 on average).
- Customers appreciate the friendly attitude and the willingness to recommend the bank to friends and family.
- Drawbacks
- Communication can be slow. One reviewer said emails went unanswered after a loan denial.
- The underwriting process may cause delays. A mortgage appraisal took more than two weeks longer than promised, and additional questions from underwriters added extra time.
- If you cannot maintain the required balance, fees may appear, which could be a surprise for some borrowers.
What this means for USDA loans
In summary, Neighbors Bank shows promise, but be prepared for possible slow responses and extra paperwork. Consider contacting them early to confirm timelines and fee structures before committing to a USDA loan.
I looked at several customer reviews to see how the bank handles USDA loans and related services.
- Positive points
- Many borrowers describe the staff as professional and helpful.
- The bank often waives monthly fees when you keep a modest balance (about $100 on average).
- Customers appreciate the friendly attitude and the willingness to recommend the bank to friends and family.
- Drawbacks
- Communication can be slow. One reviewer said emails went unanswered after a loan denial.
- The underwriting process may cause delays. A mortgage appraisal took more than two weeks longer than promised, and additional questions from underwriters added extra time.
- If you cannot maintain the required balance, fees may appear, which could be a surprise for some borrowers.
What this means for USDA loans
- The bank seems capable of providing good service when the paperwork is straightforward and the borrower meets balance requirements.
- However, if you have a complex financial situation (e.g., future student loan payments) or need a fast turnaround, the delays and communication gaps could become problematic.
In summary, Neighbors Bank shows promise, but be prepared for possible slow responses and extra paperwork. Consider contacting them early to confirm timelines and fee structures before committing to a USDA loan.