First Guaranty Mortgage Ratings & Reviews

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NMLS ID: 2917

First Guaranty Mortgage

(1.9 of 5) 8 Reviews

212% of our customers would recommend this lender.

About First Guaranty Mortgage

FGMC has long taken pride in putting people before numbers when it comes to home loans. We excel in providing home loans or refinancing through mortgage brokers or other more “traditional” channels. While our industry experienced upheaval during the...

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Customer Reviews

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8 Reviews

(1.9 of 5)
Review Breakdown
  • Lender Review
    from South Lyon, MI
    (1 of 5)
    Reviewed:
    Loan Type:
    Home Purchase
    Services:
    I'm currently working with this lender

    Use anyone but them

    Utter disaster. Nine months from signing a purchase agreement until today, and still not closed... despite good credit, plenty of cash on hand, and a VA Guarantee. It's a joke.

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  • Lender Review
    from Waxhaw, NC
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Home Purchase
    Services:
    Closed loan with this lender

    Highly recommend

    We had a very positive experience with this lender. We had a lot of issues on our purchase and sale and the team was able to always quickly answer our questions and concerns. Will recommend to family and friends when they're looking for a loan/refinancing.

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  • Lender Review
    from Indiana
    (1 of 5)
    Reviewed:

    Dissapointed Veteran

    My wife and I were excited to build our dream home, we purchased land 2 years ago and thought that now was the time to build. I was put with FGMC through a broker because they CLAIMED to do VA Construction loans. We Done our application Feb 6, 2015 it was submitted and we did not hear back from them until April. It took them 2 months to decision the loan. This should have been our first warning. The loan came back decisioned and we were told we had some underwriting conditions to meet. From April through the 2nd week of June we would get an email between 3-5:00 on Friday asking for one or two documents at a time. We did not get one big checklist because that would have made way to much sense! We would submit what was asked for and not hear anything until the following Friday when we would get the email asking for more items. One of the last requests I was asked for was a letter stating my home was not inspected during the construction process, this was odd because the house had not been started yet. I called the VA housing authority and explained to them what was going on. The lady at the VA said that there was a Form called VA Non-Inspection Form that states that a rep from the VA does not come out and inspect the home while it is being built. They said they have a form for this and that the lender should have the form and if they didn't have it they should know where to get it and if they didn't know where to find it they should not be doing VA loans. After waiting another month(now into July) the loan had still not been cleared to close. My wife and I have given up on having our dream home built and walked away from the loan process and bought a house using a different lender. I would stay as far away from this company as possible!!... Read More

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  • Lender Review
    from Kansas City, KS
    (1 of 5)
    Reviewed:

    Nothing but disappointment

    We were purchasing a home in KS from Chicago. We set the closing date out 45 days so that we would have plenty of time to get all the documentation to the underwriter and get all the $$ together. At first it seemed to go smoothly. We sent them everything they asked for the day they asked for it and then didn't hear anything for 3 weeks. I assumed things were going well because in this business no news is good news. Then a week before closing they suddenly needed a bunch more documentation and at this point we were living in a hotel and had little access to documents and resources. Still I got everything together the day they asked for it. Closing day came, we were supposed to close at 11:30am. At 9:00am they hadn't even looked at our file and at 10:30am they asked for more documentation. Everything they asked for was information that came that first week. Clarification on an address on our DL. They had the DL since day one. Why on closing day are they just asking for a letter of clarification? Documentation of funds in our account from a statement they have had since day one as well. I have no problem sending in paperwork, but when I am sending paperwork instead of signing my closing documents I am frustrated. This created a domino effect in which our seller couldn't close on her new purchase as well, and she was set to leave to her mother's funeral the day after we closed, but now may not be able to go because our paperwork wasn't completed in a timely manner. It is utterly ridiculous that we went 3 weeks without hearing anything and then last minute they are suddenly scrambling to get things done. We may have to stay in a hotel longer now which is another expense and with four children just plain miserable. I would not recommend using this company if you want to close on time. I hear this is pretty regular for them... Read More

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  • Lender Review
    from Austin, TX
    (3 of 5)
    Reviewed:

    In the end, no better than others

    The rate was great, and customer service started well. In the end, tons of questions, mainly piece-meal instead of grouping the questions together, caused delay and diminished the good customer service. Conclusion, FGMC is not any better than an average lender.

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  • Lender Review
    from N/A Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Date of Service:
    June 9, 2014

    Don't ask questions?

    I was trying to refinance my manufactured home and the process seem to start pretty well. The rate was awesome, the closing costs were average and then came the paperwork. I was completing everything on via internet and I didn't receive the email in a timely fashion then they wanted me to sigh the Good Faith Estimate before I had seen the Good Faith Estimate. The signature page was page 7 and the actual estimate was page 31. REALLY? can't you have the signature page AFTER the estimate. Okay that wasn't that big of a deal. However then I was looking over my payment information and it payment was over $100 more than what I was quoted so I questioned it. Seems like a reasonable request. Boy was I wrong. I got jumped all over by customer service saying that in his 8 years he had never had someone accuse him of misquoting. MISQUOTING? I just asked him to explain and he couldn't. Then saying that he talks to over 100 people a day for they are just a call center so he asked some specific questions regarding our original conversation. Then later on he seemed to remember EVERYTHING that was said in that original conversation. I got accused of telling him that my tax quote was the reason yet $872 caused a $100 additional payment a month yet $2000 only changed the payment $15 just didn't make sense. Needless to say I moved on!!!... Read More

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  • Lender Review
    from ocean side Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Date of Service:
    January 23, 2014

    poor

    poor

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  • Lender Review
    from ruskin fl Confirmed LendingTree Customer
    (2 of 5)
    Recommended!
    Reviewed:
    Date of Service:
    October 18, 2013

    need to move

    as with all other lenders. need to own land for them to help...

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FGMC has long taken pride in putting people before numbers when it comes to home loans. We excel in providing home loans or refinancing through mortgage brokers or other more “traditional” channels. While our industry experienced upheaval during the Great Recession, we stayed true to our vision—even as the market has struggled. As other lenders tightened available credit, making loans available only to those with the very highest FICO scores, we looked beyond the credit score to measure a borrower’s trustworthiness. We were recognized for our efforts to help worthy borrowers “Rebuild the Dream” through 203K home remodeling loans at a time when many simply couldn’t afford to buy new homes or refinance. While other lenders were protecting their bottomlines, we stayed true to our mission of helping borrowers with home loans.