Our broker recommended these guys - and we actually did a loan with them. We found them to be sleazy cheating liars.
While we were told "no points" and had it in emails, but the pile of closing documents had a fee added - they slipped in almost $4,000 in "origination fees" that didn't appear until the last round of documents! A few days after they were all signed and we saw it and said "Hey, wait a minute!" the guy (john kelly) who had said "No points no fees" over the phone and via email wasn't available. Finally, his boss said "there is nothing we can do." That became, "Yeah, we see your point - we'll make it up to you on your next loan" ..... Lots and lots of them saying "I am a man of great integrity, and you have my word...." All crap. The people involved were John Kelly and his boss Nick Maniscalco. This was at the end of 2014.
Fast Forward to this year (2016) -- We bought another property in New Jersey, and gave Vanguard a chance to "make good on their word." A guy named Robert Tuzzo (John's boss) got involved. They collected all the documentation from us, strung us along, then failed to give us a written quote. Then failed to return calls - after we'd completed all the paper work and had the closing scheduled. They essentially grabbed cash from us (on the first loan), said they'd make it up to us, then got squirrely. They proved that they would say anything - and make promises, and then not act. We were played, and jerked around. Finally, we dumped them and switched to a respectful, professional, legit lender.
BE CAREFUL!
They lied, and stole from us. They said "oh, we'll take care of you" and they didn't. Worst of all, THEY WASTED OUR TIME. Don't do it. Don't believe what they say, and even when you have it in writing, double check everything. Life is short, and there are good brokers with integrity. I strongly recommend against using Vanguard - any of their offices - any of their people, for anything. It's just much money, and too much risk. read more