The Ping Mortgage Company

I am a fresh college graduate and only got my job six months ago. I do not have any money in the bank. Trying to take advantage of $8000 government incentive, I worked with Ping Mortgage on a FHA loan. In less than a month, I got my house with 3.5% down payment from my relative. The interest rate is only 5% and my monthly payment is about $1100 --- only $300 more than my current rent. It is such a good experience. I highly recommend Ping Mortgage

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Mine was a short sale and had to close in 15 days(you know banks, they want to close asap when its their turn to get back the money). Yale was really helpful and getting the process going and we were able to close right on promised date. I got really good competitive rate, no other broker/bank could beat the Ping mortgage rate with the low closing cost.

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Today at my closing, I am supprised to find out that the yearly interest rate of my loan becomes 4.875% in the final document which is lower than the 5% which was given to me in the GFE. I even don't remember I heard the term of rate float down during my loan application. I looked at previous reviews here and I find out that I am not the only person who is benefit from rate float down. I really appreciate this. There are also many things I would like to give thanks for. Thanks Ping and other people for the prompt responses when I had any questions about the loan application. Thanks for the proactive action in order to avoid delay for closing. I received a phone call from Joey to inform me an error in the appraisal report. Joey gave me suggestion to contact the appraisor in order to fasten the process. Thanks for their deligence in serving customers.

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Ping and her staff are extremely conscientious and hard working for her clients. I called her in a Sunday night around 9:00 PM because I need a pre-qual letter by next morning in order to bid on this house. She answered the phone while at a party. After learned my need, she told me she would do the work and send me the letter later that night. Her email came to my mailbox after 1:00 AM at night! When we came to the closing, we were happily surprised that the rate was even lower than what we locked in with. I will always go to Ping Mortgage when I need a loan. I have 100% trust in Ping!

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When I made the loan application, Ping told me I had one time rate float down with Wells Fargo before closing. I did not take it very seriously because I already locked 5% for 30 year fixed with no discount point and only $600 origination fee (for returning clients.) I closed my loan this morning. Right on the closing table, I found the rate is 4.875%. I am amazed by the fact Ping did not even mention the rate float-down to me when we reviewed the settlement statement last night. It is truly a nice surpise. I like it. I definitely recommend Ping Mortgage to all my co-workers at Mckesson.

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Me and my two co-workers at ATT started our refinance in April when the rate was the best. We locked for 30 days at 4.625% for 30-year fixed with $700 origination fee. It took six weeks to get our loans approved and of course we lost our rate locks. It was so strange and we were so disappointed. Apparently Ping Mortgage sent all loans to Wells Fargo Bank for the best rate. We called Wells Fargo during the process and verified it was true. Wells Fargo was overwhelmed by the sudden increase in loan application that they could not handle. We have no other choice but to wait, because other lenders/brokers are purposely increasing their rates and fees to take advantage of situation. Luckily, Wells Fargo last week gave out some specials for two days. We are all able to close the refinance at the rates we like. Thanks for the Ping Mortgage!

P.S. Due to the volume, service is not as good as we had before when we purchased the houses. E-mail is the best way to communicate with them.

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I had applied for refinancing my mortgage a couple of months back at 4.5% and due to processing time of the bank, I lost the rate.

However, Yale from Ping Mortgage Company promised me to get me a decent rate when the rates fell. Initially I was skeptical, but he kept up to his word and got me a rate of 4.75% waiving the origination fee

I was impressed by the way he kept me informed about the updates and rate changes periodically

Today I closed the loan I would definitely recommend Ping Mortgage as they give great rates and are pretty genuine

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Ping told me 5% NO CLOSING. She told me to lock in the rate on her website after paying $300. I did so. She asked me to fax in the required documents. I did. I told her to let me know if she needed additional information. She seemed too lax which made me curious. After two months, she tells me she couldn’t register my loan since it was already locked by somebody else. I called WF refinance department and confirmed that there was no such LOCK. She refunded my check but after loss of precious time I am back to square one. And the rates have gone up.
ADDED: Yale called me up on July 6, 2009 and explained the situation to me in a detailed manner. He admitted that communication from their side has to be better. I have increased the average rating for the company from One Star.

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I locked in a very good rate of 4.75, was anxious on whether I will get the rate or not, as it took close to 7 weeks after locking.
Yale was very helpful, giving tips and making sure we close in.
In the end I was able to close the loan, all the documents everything needed were only sent once, rest everything was taken by Yale promptly.
Thanks Again, Your expereince counts..

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I heard a lot about Ping before contacting them. They stood true to their reputation. Mine was a rental property and there were some issues with appraisal but Ping was on track and the closing happened as promised. Yale was a pleasure to deal with.

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