RoundPoint Mortgage Reviews and Rates
RoundPoint Mortgage Company is a wholly owned subsidiary of RoundGroup Financial Group (a part of a company called Tavistock Group). RoundPoint Mortgage was originally started in 2007 as a refinancing program to help customers stay in their homes. And although they originally started strictly as a mortgage refinance company, they now offer a number of new home loan packages including 30 year fixed rate mortgages and 15 year fixed rate mortgages as well as many adjustable rate mortgage products.
RMC is licensed to originate loans within 47 states (excluding California, Nevada, Florida, and Maryland) and the District of Columbia. Additionally, RMC maintains FHA and USDA approvals and utilizes a group of best-in-class strategic partners.
Who is Tavistock Group?
Tavistock Group is a global, private investment company founded 30 years ago by investor Joe Lewis. The company encompasses a broad portfolio of investment interests in 15 countries, employing a simple investment philosophy: target opportunities where its capital, flexibility, management support and strategic hand can build value.
RoundPoint Mortgage Rates:
(accurate as of 1/2011)
- 30 year fixed rate mortgage with an APR of 4.811% with 0 points and 20% down.
- 15 year fixed rate mortgage with an APR of 4.23% with 0 points and 20% down.
- 5/1 LIBOR ARM 3.25% with 0 points and 20% down.
(The interest rates above assume a $300,000 loan in North Carolina.)
Their is a 7 step process to obtain funding for a home loan through RoundPoint Mortgage. 1) The first step involves filling out a web form with the desired mortgage or refinance product you are looking for. 2) After reviewing their fee structure you fill out an application. 3) Lock in your loan. 4) Send them your information – W2s, pay stubs, etc. 5) Mortgage loan is processed. 6) Sign. 7) Funded and closed.
If you have experience in obtaining a home loan or refinancing an existing mortgage with RoundPoint Mortgage Company, please share by leaving a comment.
April 19th, 2011 at 12:55 am
We had our loan close really fast. Within 3 weeks of first calling Roundpoint our loan was closed. A couple questions came up during the process and our loan officer was very fast in getting questions answered. I would recommend.
June 27th, 2011 at 10:23 pm
I was bait and switched a little with my APR but they moved pretty fast with the process.
July 15th, 2011 at 6:36 pm
Did everything over the phone and online (with a little faxing thrown in). Bobby Jackson was a great agent to work with. Closed the loan quickly, even had the notary come to my house to sign paperwork. Highly recommended. Got 3.875 / 15 years!
August 9th, 2011 at 6:03 am
These guys are awful. They give good rates, but their customer service leaves a lot to be desired. They were always very hard to reach, and they took a long time to get back to me whenever I left messages. Also, it’s clear that they write their own reviews on Zillow. The format for all of their reviews is suspiciously similar. And whenever people leave poor reviews, that is when you will see an influx of new reviews in order to get the first page of reviews to be all top ratings. Shameful.
October 14th, 2011 at 11:40 am
The beginning process was great until they look for all sorts of reason to denied my loan. The reason was I could not proved my primary residency even after I provided them more legal documents than they needed. Then they said I still refinance under investing property which pay higher interest rate. This is clearly a bait and switched operation. I would not recommend this business to anyone. I’m about to report this to DA unless they fix the issue. Even then, I’m very uncomfortable to continue doing business with them.