I have a good income, a stellar credit rating, owe half of what my house is worth as found on Zillow, and was told I qualified for the BEST rate they had (rate was 3.35%, but APR was 3.5% after fees). Then this happened:
3/16/12 - Approved
4/17/12 - Lock Confirmation
4/15/12 - AIM Document Request
4/27/12 - Docs provided
4/27/12 - 2nd AIM doc request
5/1/12 - 3rd AIM doc request
5/4/12 - 4th AIM doc request
5/15/12 - 5th AIM doc request
5/22/12 - 6th AIM doc request
5/24/12 - AIM Final approval
5/31/12 - I sent an email expressing dissatisfaction and concern
6/5/12 – Closing at my house
6/6/12 - 7th AIM doc request (after closing!)
6/10/12 – Closing failed – too late!
6/25/12 - 8th AIM doc request
6/26/12 - 9th AIM doc request
6/27/12 – AIM now wanted an appraisal!
FIRED!!!

Live and learn. I would stay away from AIMLOAN.com. Now I have to start all over again and AIM hit my credit report – TWICE – during this process. Thankfully rates have not increased.

I could not be happier with my experience obtaining a recent mortgage with AIMLoan. The rates and closing costs were among the lowest anywhere. The customer service I received was excellent. All questions were answered the same business day and most everything was automated. Other than a slight appraisal delay due to the appraisal management company, I did not have any problems. If you provide the requested documention in a timely manner, you will not be dissapointed. I would not hesitate to use AIMLoan in the future.

I refinanced my mortgage about two years ago with AimLoan and it was WONDERFUL!
I shopped around and found them on BankRate.com. I was very leery since it was all online and the costs seemed VERY competitive - almost too good to be true.
Other companies told me they would match AimLoan's GFE but I did not like the fact that they had not given me their best offer even though I told them I was shopping around and that is what I wanted. That to me is deceptive as it means they had better but lied to me at the onset.
AimLoan's final transaction, on the other hand, matched what they quoted me in the GFE as well as what I got in the original calculator.
I was so pleased with their service that I just recently refinanced with them again - same experience:
EXCELLENT!!
DO NOT BELIEVE THE COMPLAINTS! Those are people that were probably not accurate in the information that they provided. Be honest and upfront from the beginning and AimLoan will give you accurate costs at the get-go.

AimLoan.com is using the same APR for 4.50%, 4.625, 4.75 and 4.875% of 4.981% for 30 year fixed rates with no points and only $1995 in fees over the past 4 months in their print advertising. Very fishy to say the least. The better business b has a “revoked” for their status with an unpaid bill and lots of consumer complaints. Problems……??? Check out the mortgage guide sunday papers in Dallas, Seattle, San Jose, Minneaplois, Pittsburgh, Houston over the past 4 months.

I applied with AIM loan and from the get-go I made it perfectly clear that I wanted a 10-day close. Now 30+ days later, I am still waiting and they have asked for more documentation. I have provided everything they asked for but they want more. Unlike RAULING, I don't have 4 properties or even 2. I have one other property that is on the market without a contract. They kept asking for a HUD-1 statement on that one home for which I kept telling them it was still on the market, no contract. My husband and I were trying to borrow less than $110,000 to buy a house we wanted to retire in but AIM loan made it impossible to use them. We provided statements of almost $400,000 in a 401K which is not even our retirement money because we both have very, very good retirements with our employers. We own a $400,000 house in another city and have it listed for sale. We have $100,000 equity in that house and $30,000 in bank accounts. Was that enough for AIM??? NO-O-O! They want us to show more funds. How much more money do we need to show for a tiny little $100,000 house?? Please for your sanity, do not try to finance or re-finance with AIM. I will go with Chase who has lower rates right now anyway or some other local company that will manage to salvage my contract with the seller and we will be closer somewhere close to the original date but no thanks to AIM loan. To think I was upfront with them from the beginning asking if they could or would do this loan because if it wasn't possible for them then I would move on. Chase Bank has been very competitive on rates and they are quick and even give money back every year that you have your home financed (for Chase bank customers). No I don't work for Chase but they are good. And they do not waste your time making you jump through hoops like AIM. They require the usual paperwork but are very upfront about what you will provide so go see them and don't waste your time on some of the other online companies.

Stay away from AIM at all costs!
Our experience (purchasing a single-family home as a second property) at AIM loan started innocently enough. First recommended by a coworker, AIM loan turned out the worst excuse for a loan originator that we could have possibly imagined. The initial pre-approval process was simple and smooth. The website was well designed and their automated tools were well designed. Our particular situation was complex enough that our application could not be handled by the automatic system and we were forwarded to a processor. She requested the standards docs and I was pre-approved shortly thereafter. This was not too surprising as I have 750 credit score, over 20% down payment and decent assets and 6-figure salary. I continued to make offers on properties based on my approved loan amount. I was very careful to provide a transparent picture of my assets and liabilities, which included cash flow. It was my mistake not to question why AIM loan was not asking for all of my supporting documents. Two months later, after I figured AIM had looked at the documents I provided, I felt confident bringing a contract to them for underwriting. Here began the trouble. The debt-to-income ratio suddenly was too high albeit nothing had changed since pre-approval. Why? Because one by one they removed cash flow based on some “investor guidelines” which could have been disclosed to me at the pre-approval process. Rather than cleanly denying me, they explained that a) my car loan, if eliminated b) my trust account if it had 3 years or more of monthly cash flow (we were $2,000 short over the three years) we may stand a chance. Here is a quote of what they provided AFTER they had ordered an inspection, for which we paid.
“If we are able to count the trust income (and the bonus income), then your debt to income ratio would still be at 58.275%. We would have to lower your loan amount to $225,000 to be able to meet the 55% maximum debt to income ratio requirement.
Or, if you would like to keep your loan amount of $300,000, then we would need you to pay off the Boeing ECU liability of $467/month ($20,672.00 balance) outside of closing. You would have to provide proof that it has been paid off prior to loan approval.”
So in 24 hours we had paid off the $20,000 car loan and increased the trust fund. Then they said no, again. They said these were not sure-fire solutions to our problems. Each email exchange resulted in a turn-around time of 24 hours because underwriters are available between 2-3PM to answer questions and the processors are glorified administrative assistants. After 3.5 weeks, and many exchanges, we asked for a supervisor. We spent a week with a manager—at this point our sales contract expired—but we received neither a rejection, nor an approval. The house was listed on the market one day after we applied with another company. We pleaded to extend, our agent put in additional incentives and finally we were approved. AIM took 3 months of our lives, cost us money and much stress, and led to no reward. Landover, the second lender, funded the loan 2.5 weeks after we had applied. I don’t understand how it is possible to have such different results when the financials, the house and the timing are all held constant. BTW, there was no difference in the interest rate or incentives in the end between the local bank and the online bank.

I am to close on a refi today. I only learned of this last night at 7:37 PM and if the loan does not close by 8:30 PM tonight, I will have to go with someone else or accept a higher rate. Like others who submitted reviews, I have been requested, not even in writing, for more info as recently as two days ago - information that is difficult to provide on short notice (e.g., % ownership in the multi-national company for whom I work). Perhaps, given that rates have gone higher, the lender would prefer that I not close so they throw up hurdles in an attempt to force the potential borrower to extend their rate lock (i.e., accept a higher rate or pay more for the agreed rate).

Aimloan kept inventing hurdles when I tried to refinance through them, but luckily for me, so they said, they could help me out with their convenient (overpriced) solutions. I set about trying to refinance when the interest rates dropped. After being lured in by their low rates and paying $300 for the appraisal, they started finding "problems." Even though I have a credit score of over 800 and have paid an extra $60k in principal in the less than two years since I got my original loan, somehow they believed that lowering my monthly payments would make me too risky for their best rates. Then their "independent" appraiser said my house was worth $100, 000 less than the real bank appraisal that I'd gotten less than two years prior (this was all after the real estate bubble burst, btw). They ignored me when I pointed out that--even though my house was literally 40-60% bigger--the appraiser valued my house significantly less than his "comparables."

Their solution was something like this:

"No problem, we have a loan that's perfect for you: the interest rate is 0.5% higher, you have to pay an extra two points, and we'll need to use the mortgage to pay off your wife's student loan that you cosigned (which, at 2.25% and deferred until she would finish school 2.5 years later would be a raw deal for me), but we can help you out because we're so generous and accommodating."

No thanks.

I got the same interest rate that aimloan originally advertised by going through a local bank. Their appraiser showed my house to be worth $115k more than aimloan's crony, and I got everything taken care of with no problems.

I needed a quick preapproval and used aimloan.com a year ago in order to make an offer, because my local bank no longer did preapprovals. I used the local bank for the actual purchase, and forgot all about AimLoan. A few months later, I was looking for a mortgage on another investment property, and every lender I had worked with cut me off because I already had 4 financed properties - the only option I had was a commercial mortgage with a rate full 2 points over the residential rates. At that time I got an email from AimLoan that my pre-approval is about to expire. Not expecting much, I responded asking if they provide mortgages to people with more than 4 financed properties. They said they do. I did not believe initially, because about 10 other lenders (some of which I already had mortgages with) had declined, but I submit an application anyway. In 2 days I was shocked to get an approval by their underwriting program!!! They requested a bunch of documents, sometimes one at a time as other posters mentioned, but in less than 30 days I got final approval!!! In less than a month, I had a purchase contract on another investment property, and I just had a settlement on that one too - using the same loan processor (Lora) who kept my file from the first purchase. AimLoan is a lifesaver for those of us who own more than 4 rental properties and see a ton of opportunities in this market!

After coming across mixed reviews of AIMLoan in the middle of applying for the loan, I was worried. But, they had the BEST rate I could find on a re-fi of a 2nd home condo for a 7 year option ARM, with the lowest closing costs. I went through with it, to discover that the experience was EXCELLENT. It was the smoothest loan transaction I ever experienced. They delivered what they promised, rate exactly what they promised, closing costs were within $30 of the original estimate. The processing agent was extremely responsive and easy to deal with, both via e-mail and even the phone when I needed a quick answer. The loan funded within 26 days of the application, and they were on top of things every step of the way to make sure things stayed on track to be within the 30 day window. I would recommend them to anyone!

I was skeptical about going with Aimloan. The rate and cost seemed almost too good to be true, but less than 3 weeks after applying I closed at the originally rate and lender fee. Like the others that gave a positive review, I responded quickly to all requests for documentation, which was no big deal for me. I've refinanced several times in the past with different lenders and Aimloan did not seem to be that much different than the others, except Aimloans rates and fees were much lower. I would definitely use Aimloan again.

The goal of Aimloan is to hook you up with their low rate, then they make sure your locked rate expires, so they can charge you extra points for extensions. If you are not an expert to play unethical games with them, DO NOT be hooked by them. When they gather information, they asks for tiny pieces at one time without any explanation, and after you submit to them, they take days to check and reply you. No matter how high your credit score and how much your fixed asset are, I'm talking about over 800 score and 1 million fixed asset here. They will make excuses to let you pay much higher amount in the end. Not even mention the stress and pain you need to go through.

I have had a horrible experience with Aim Loan. As other posters have said the online app was easy and painless, but the processing was lacking. They messed up my lock and when I told them about the error I was treated as if I was lying. They asked me the same questions over and over - it seems they are overwhelmed and can't keep their applicants straight (at best)

WORST mortgage company I've ever dealt with. Don't waste your time, money, energy with these clowns. Here's my story...
with a credit score of 790-800, an average of 50% equity in my other properties, 200% of the loan amount in the bank, and 20% down and a loan of less than 60% of THEIR appraiser's value, they denied me a loan because of a water stain on the ceiling, At first i jumped through their hoops and got a roof inspection, then a plumbing inspection, then(several weeks into process) they demanded a mold inspection(all of these paid out of pocket).after jumping through the first two hoops my rate lock expired at which time they offered to continue at a higher rate even though rates had gone down during this lock period. Then i realized they had no intention of making the loan even after i offered to greatly increase my down payment.
all in all a very bad experience save yourself heartache DO NOT WASTE YOUR TIME AND CHANCE LOSING YOUR DREAM HOME WITH AIM MORTGAGE.

We just did a refi with aimloan, and it went well. On our part, we had all the docs to them quickly, so I think that helped. Still, they did everything they were supposed to, no screw ups and there rates are excellent. I started the process after using their rate notification service, and that worked well for us too. Everything was closed in under 30 days, and that was during the Christmas season.

We applied for a mortgage refinance with AimLoan. Their web site application process was smooth and thorough. However, the processing was quite unsatisfactory. They were constantly requesting additional information, information that should have been asked for in the initial application process. They did this every few days, asking for an item or two at a time which we promptly supplied. Then they informed us that the rate lock was about to expire and we would have to pay a rate lock extension. At that point we switched to another lendor and didn't experience any of these problems. We would recommend looking elsewhere.

I have used aim loan two times now - and LOVE THEM! You must certainly have all of your ducks in a row when you're ready for applying for the mortgage - and patience is a good thing with them (they are really busy right now) - but they tell you up front everything that you need to gather for the loan process. We locked in a 30 day rate of 4.625 & due to their busy re-finance business, they extended the rate lock until they completed their end of the work. Keep in mind that once the loan is completed, they basically immediately sell it to another lender. Our first loan was sold to SunTrust who immediately sold it to Chase. On our re-finance, the loan was sold right back to Chase. I will use Aim Loan again if I ever need another home loan. You simply can't beat the rates. I also loved how you could do most everything over the internet & faxing. On signing, they even sent over a notary to our house! Can't beat that!

We're having a similar experience as the previous poster on our refinancing. We were guaranteed a 30-day close, but are in the middle of week 8.

We basically saw no progress for almost six weeks, and all of the sudden, a fury of activities requiring us to jump through multiple hoops with no clear instructions (and they don't pick up phones or answer e-mails promptly -- leaving you in the dark). And while they don't respond to your inquiries, they expect you to drop everything and provide immediate response to their inquiries and needs.

I've heard that refinancing can be a pain, but these guys have taught me how bad it can really be. They guarantee the loan will close in 30 days... but I'm in the middle of week 6 with no end in sight.

They don't seem to be a scam, but they use some sketchy practices and are very poor at answering questions.

I would skip the internet in this case and ask a friend for a mortgage broker instead.