Preferred Rate - Oakbrook Terrace S Meyers Rd, Oakbrook Terrace

Mike Fornero did an excellent job helping support my family and I getting financing for our new home. Building a new home can be challenging and the many construction challenges due to COVID didn’t help. Mike found us the best rate possible and kept us calm as our builder continued to extend our close date. In the end we took ownership of our home and where very happy with our monthly payment.

Mike was great to work with. He was patient, answered all my questions and was quick to get back to me. I would recommend Mike to anyone that needs a loan.

HORRIBLE EXPERIENCE. 2 individuals (Tony & AJ) at Preferred Rate made us not have a good experience at all. They waited until the week of our closing to ask for a bunch of other documents that needed to be submitted 4 days prior to us closing. They also let us know 4 days prior to closing, that we would need to come to the table with thousands of dollars, after assuring us for months that the sale of our current home would bring us money that would cover everything and even have some left over. Weeks prior (3 weeks + more to be exact) there was little to no response to any emails, text or phone calls that we were sending them in reference to us asking if there needed to be anything else submitted, or if they received documents that we did submit. One of the lenders told us to trust him and by trusting him myself, my wife and our 1-year-old child almost ended up not having a place to live. We ended up losing the home and thankfully cancelled the deal to sell our home our home, or else we would have been homeless. You can go with whichever lender you choose. But if you value your mental health and don’t want to waste your time, or money I would look into other lenders. The added stress and anxiety they caused us could have all been avoided.