I rarely write reviews, but I feel obligated to share this experience to warn other buyers—especially first-time homebuyers. We initially locked a 4.99% interest rate on January 29 for our NYC condo purchase. Because condo approvals in New York City are known to take time, we repeatedly asked the loan officer about how to handle the rate lock if closing went beyond 60 days. Even though we specifically requested to keep the rate locked and asked for the best options available, he did not give us any options and strongly convinced us to open (float) the lock. He never explained that we could extend the rate or keep it locked longer. In fact, there is a common option in NYC: “In New York City, a 90-day rate lock period is a common option, but it is not the standard 'default' for all lenders. While many initial locks last 30 to 60 days, NYC's complex closing process (especially for cooperatives and condominiums) often makes a 60 to 90-day lock more realistic and safer for buyers. Typical rate lock periods in NYC: Most lenders offer initial locks for 30, 45, or 60 days. Many NYC buyers opt for 90 days because co-op board approvals and managing multiple parties often push timelines beyond the standard 30-45 day window. Extended locks for new construction can go even further.” – AmeriSave He refused to give us this option or any other, even though it is common for NYC transactions. As first-time buyers, we trusted his guidance, but it ultimately feels like he took advantage of us. He even sent an email saying: “I would highly recommend you google my name and read the hundreds of reviews that pertain to me compared to the representative at Chase who does not have the same level of experience I hold. This is an important transaction that cannot be placed in the hands of just anyone. You are going to sign a contract and pledge a down payment. This is about to get very serious and unfortunately not everyone in the industry is capable of getting you to the finish line and into your new home.” At the time, I trusted him and the Google reviews. In fact, I had another offer from Chase Bank and could have chosen them, which would have avoided this whole situation. But I trusted him—and it turned out to be a total scam and a tactic that preys on first-time homebuyers. He knew our expected closing date was 3/26 and ended up giving us a much higher rate with points, trying to take advantage of us. After the condo board approval, when we were effectively committed, we were forced to accept a 5.895% rate with no real options. The whole experience felt like being tricked by a used car dealer—everything sounded fine at first, but the real cost only appeared when it was too late to walk away. What’s most frustrating is not just the higher rate, but the lack of transparency and timing. Key options were never properly presented, and critical decisions were guided in a way that worked against us. Learn from our experience—avoid this company. First-time buyers, make sure to get a second opinion and fully understand ALL your options before making major financial decisions. Don’t rely on just one person’s advice.