They just instituted a policy where they hold the 15 years for themselves. They reserve the right to bundle it, but nobody's taking out any commercial loans these days, Arvest has the cash (plenty of people depositing) so they're keeping the loans.
I refinanced a few months ago. I checked with Arvest but ended up going with Mortgage Clearing. Mortgage Clearing was almost a full percent lower for the same term. Arvest had some type of interest floor but included a "credit" of $2,000 or so (ie. nothing close to what ~1% on a mortgage principal will cost you over the life of the loan).
Don't know what their rates are now, but I would definitely shop around if I were you. All the banks have their promotional bs you have to sift through. Don't forget to check into a Section 184 or USAA if you're an indian or veteran/family of a veteran.
Don't know what their rates are now, but I would definitely shop around if I were you. All the banks have their promotional bs you have to sift through. Don't forget to check into a Section 184 or USAA if you're an indian or veteran/family of a veteran.
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According to a mate of mine they have poor service, I have known him for about 10yrs and for 8 of those 10 years hes been with that Bank for his home loan. The problem that he normally has is with funds being deposited to his account late, teller machines always down and the unprofessional staff.
I personally have never dealt with them but you should definitely have you wits about you when going in for a mortgage. In my opinion if you cant maintain simple banking practices what about something as big as a mortgage?
Rule of thumb ask alot of questions and make sure you satisfied with the answers.
I personally have never dealt with them but you should definitely have you wits about you when going in for a mortgage. In my opinion if you cant maintain simple banking practices what about something as big as a mortgage?
Rule of thumb ask alot of questions and make sure you satisfied with the answers.
I've been with them for close to 15 years, and have had nothing but excellent customer service. I do catch one of their ATMs on the blink every so often, but that's a fact of life for any bank. Never had anything deposited late, either. In the few instances I've been overdrawn, it was my fault. YMMV.
We have been with Arvest for 10 years now, without any problems. It is my understanding that Wal-Mart owns Arvest.
We bank at Arvest and love it. I had one incident with a douche teller that I complained about on twitter and within 30 minutes a manager called my cellphone in response to it. They made it right and I was very impressed that they not only follow social media, but responded to it. I would have said they were perfect a few months ago until they started putting up the gunbuster signs.
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