Anyone use INGDIRECT?

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Home of the Cincinnati Criminals.
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I was browsing there site, and their traditonal savings seems to be a good deal. You can get over 2% on any amount. Not bad, when most banks pay .25-.75%

BB
 

Pump n Dump
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I use them.. no problems so far and above market avg. interest rate for a savings account.
 

Home of the Cincinnati Criminals.
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No mins. either. They also have pretty good rates on CD's, and home mortgages too.

BB
 

Pump n Dump
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Yeah, I saw last week on MSN there's some other bank like ING that's paying around 3%, cant remember the name though.
 

Home of the Cincinnati Criminals.
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Hey, LEYKIS, do you have a mortgage through them? If so, what do you think of the Adjustable Rate Mortgage(ARM)?

I will be purchasing a house soon, although not real sure how long I will live there. I could live there 5 years or hell, maybe 30. You can get about a 1-2% cheaper than the traditonal 30 year mortage.

Another thing to ponder is, if you can pay a good portion of your mortage off within the 5-7 years of the ARM, you could save thousands.

Any thoughts?

BB
LEYKIS101 said:
I use them.. no problems so far and above market avg. interest rate for a savings account.
 

Pump n Dump
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Bigbet,

No, I don't have my mortgage with ING, for some reason when I tried to refi 1.5 yrs. ago they denied the application. I still can't figure out why as their reasons were vague, but I did refi into a 5/1 ARM with another lender. I like the 5/1 ARM's, they're especially good if you don't plan on being in your residence for much more than 5 yrs. I kind of think the "interest only" loans might be the best all-around home loan, provided you have the discipline to pay extra principal on your own.
 

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I have a savings, mortgage and HELOC with them. Great rates, but pay heed to the stories in the press. If you become too expensive, meaning making too many calls or making too many transactions, they could ask you to leave. They have booted customers for calling the 800 number up too much and they have said people that do things contrary to their goal of promoting a savings culture could be told to take their business elsewhere. It is a leap of faith for many, you have to be a very internet based person to do it though. You get almost no documents from them and have to regularly check your accounts to make sure things are in order. The home loans are only the ARMs so you have to be on a somewhat set plan for your housing needs right now, because 30 yr mortgages are only about 60-70 points higher than a 5/1 ARM, so if there is any chance you stay more than 5 years you are better off going with the longer rate lock. The big difference with them though are the fees are extremely low and they asked me for almost no docs to get my loan done; I think they preapproved me just by reading my credit report and knowing my habits from my savings account.
 

International Playa
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I use INGDIRECT ad they are one of the BEST companies as far as CS is concerned.


Adjustable rate mortgages are GREAT!
 

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BigBet - Try Guardian sportsbook. 1% per month like clockwork. Could also look at FRA.
 

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