Mth Mortgage

Our experience with MTH Mortgage has been wonderful! We purchased a new Meritage home in the Blackstone development in El Dorado Hills, CA. Carol, our loan consultant, was absolutely fantastic at keeping us in the loop and helping to ensure that we got the lowest rate possible. I feel like she worked really hard for us and went above and beyond what we even expected. During the entire process, she never took more than a day to get back to us with answers to any of our questions. I’ll give one example of her going above and beyond for us. We locked our interest rate. The same day, she contacted me and told me that she discovered a new program in place that we would qualify for that would decrease our interest rate by ¹⁄₈ of a percent with no extra money out of our pocket. A week later, she contacted us again saying that after looking at something else, she would be able to lower our interest rate ANOTHER ¹⁄₈ of a percent. It would have been a lot less work for her just to lock us in at the original rate that she promised. However, she kept working for us to get us the lowest rate (and payment) possible. We ended up getting a fantastic interest rate and being able to keep the $ 10,000 incentive from Meritage — which (in our case) covered all of our closing costs. I would highly recommend MTH mortgage! Our experience with them couldn’t have possibly been better!

If I could give zero stars I would. MTH mortgage is the absolute worst company to work with for active communication on what’s going on with your loan. For a company that stands to make about $ 500k in loan repayment from me in the next 30 years, you think they would be more responsive.
When you first start the loan process everything is rosy with lots of back and forth between you and the loan consultant. One you get close to closing however, the request for more documentation comes. Requests for info that should have been collected and or reviewed long ago starts to become an issue. It makes me wonder if the company is even reviewing the docs received.
Long story short, in order to buy our new home, it was contingent on the sale of our existing home. Our home sold on November 23, and now we have been waiting nine days for our new home to close even though the loan paperwork has been done for more than a month.
We have been living in a hotel for the last two weeks with all of our possessions scattered among many places. My wife, mother-​in-​law, and baby girl 11 months old are all feeling extremely displaced. After multiple calls and emails on a daily basis asking for an update, it’s extremely rare to get any sort of response from the company.
At this point we feel trapped because we have no home left to return to and it would be almost impossible to stop this process at this time. Even though they are the preferred lender for meritage homes, from our perspective it’s worth giving up the $ 10,000 buyer incentive for not having to work with them.
I see that we are not the first family to experience this as another Unilocaled put it so eloquently.
Just hoping this will end soon.

My husband and I recently purchased a Meritage Home in Rocklin, CA. We were told the best way to ensure an on time close was to use Meritage’s in-​house lender, MTH Mortgage.
We had been scheduled to close on ¹¹⁄₂₁ for months. This was the date dictated to us by Meritage and we planned our lives around that date (e.g., selling our existing home, scheduling time off work, etc.). Even though we provided MTH will all of the paperwork they requested in mid-​October, they waited until ¹¹⁄₁₅ (5 business days before our scheduled close) to ask for additional documents (nothing had changed on our application — they should have identified their need for these documents well in advance). We provided all of those additional documents within 24 hours of the request.
After providing the additional documents, MTH went silent. We were persistently following up, multiple times each day and our calls and emails were largely going unreturned. On the scheduled close date, we drove up to Rocklin to sign the papers and get the keys to our new home as had been planned for months.
The papers were to be signed at Stewart Title, but when we spoke to Stewart Title, they said MTH still had not sent them the papers. MTH continued not to respond to our calls or emails. Finally, at 4:50 PM on 11/​21, MTH sent the papers to Stewart Title, but we were told that it was too late in the day to close.
We were stuck in our car all day with our 3 year old daughter and 11 month old twins, who were crying and exhausted the entire time. We then had nowhere to go and were, essentially homeless on the day before Thanksgiving.
We scrambled to find a hotel room and the day after Thanksgiving, Stewart Title graciously opened up their office and met us there to sign the papers (even though they weren’t the ones who screwed up!). Even though MTH had not done their job and prepared the papers on time, they didn’t even care enough to come into the office the day after Thanksgiving (which is NOT a bank holiday) to complete the transaction so we could occupy our home.
This forced us to be in a hotel for an additional 3 nights. For those of you with little kids, you will understand how hard it is to stay at a hotel. The kids were all crying and upset. The twins’ hands were tangled with other peoples’ body hair and blackened from all the dirt on the floor. My 3 year old cried because she did not get to have Thanksgiving with her family at her new home.
Moreover, we had to incur $ 1,180.90 in hotel stay costs, which MTH had refused to help us with because «it is not policy for MTH to reimburse buyers for hotel stays.»
It was a truly awful experience. MTH Mortgage seems to take zero pride in what they do and were completely unsympathetic and unwilling to take responsibility for the large financial and emotional hardship they caused us.