Astoria Federal for refinance

Bump. SE held this pending approval as I haven't posted often.

Does anyone have any experience with this bank? The rate for that product is down to 3.5%. Thanks.

They told us at first great rates then when I called back to ask a question about the application they wouldn't work with our building. It's a 5-unit smaller condo building with 1.5 units of commercial space. Not sure why this is an issue. We can't move forward.

The rates are usually higher for coops, condos, investments, and multifamily. What's shown on banks' ratesheets generally applies only to single family residences, unless they break out coops and condos separately.

I actually contacted them during my co-op purchase and the rates you see for houses applies to their "approved" co-ops and condos but call them to make sure.

Off course I decided not to use them and wind up using a broker who saved me nothing and took longer to close, but that's another story. I would definitely use Astoria.

Three times I tried to refinance with them (a year apart each) and each time, no one picked up the phone. After calling 4-5x, they'd sometimes pick up the phone and say they'll call me back and never did. Getting paperwork done for financing involves at least 100 back and forth exchanges. Do you really want a bank that doesn't even answer the phone to get business?

Their advertised rates are good, but I got a better deal from a far more reliable bank.

Thanks for the replies. I applied with Astoria Federal a few days after my first post when their advertised rate was 3.625. My LTV (less than 60%) qualified me for a qtr point cash back that I used to buy the rate down an 1/8. I'm locked at 3.5 and so far things have gone well, I'm just waiting for the attorneys for the bank I'm paying off to produce some documents and I'm clear to close. Hopefully that doesn't drag on. It sounds like some of their loan officers might not be on the ball, but mine has been excellent. I'll report back after I've closed.

I'm closed. Got it done with 10 days left on my rate lock. I wouldn't say it was fun but it was smoother than previous experiences. Thrilled about my new rate and have no complaints about Astoria Federal.