In business since the mid-1800s, U.S. Bank has been named the world’s most ethical bank for the past five years. It’s also the 5th largest commercial bank in the United States.
Tony Clintock, East Coast Retail Manager, works out of the Warren office and has 28 years of experience in the mortgage industry. The loan officers there also have a minimum of 20 years of experience, with most having over 25. In addition, these employees are residents of Warren, and have deep ties with and in-depth knowledge of the community.
“The home buying process and the mortgage process is about much more than rates and fees,” said Clintock. “It’s really about making sure you understand what you’re signing up for since it’s the biggest purchase most people will make in their lives. It’s really important to sit with someone who has a core understanding of the business.”
He finds that most people focus on price, when they should really be paying close attention to the terms. When looking for a mortgage, he recommends finding terms that you’re comfortable with and one with manageable payments.
“Clearly understand the terms and don’t just pay attention to the monthly payment; getting the cheapest product isn’t necessarily the best product,” he stressed.
Therefore, home buyers should work with a lender who will able to guide them into a loan that they can manage now and in the future. Sitting down with a knowledgeable mortgage consultant who walks buyers through the payments and explains the terms is critical, especially for first time home buyers.
U.S. Bank employees, said Clintock, are properly trained to be financial advisors who understand exactly what their customers need. The financial institution also acknowledges that consumers’ demands have changed drastically over the years, with people wanting immediate gratification. The bank’s tools have gotten so advanced that its loan officers now have access to a digital platform, where customers can apply online. The foremost benefit of this technology is that it allows, with the customer’s permission, the bank to automatically pull income and asset documentation from the source so customers don’t have to gather and submit all the paperwork on their own. This saves tremendous time and energy and allows applicants to get immediate loan decisions so they can shop with confidence.
U.S. Bank also doesn’t sell its loans, so customers will always know who they’re working with and who is servicing their loans. Besides offering autopay and other convenient options, they also have an app, so customers can keep track of payments, balances, escrow, and anything else they would like to know about their loan.
When it comes to lending, the bank offers a full array of products from regular purchase and refinancing, to home equity loans, construction loans, long term rate locks, renovation loans, and more. They also have specialty programs for doctors.