Business ProfileforBank-Fund Staff Federal Credit Union

My husband and I applied for a refinance with Bank-Fund Staff Federal Credit Union (BFSFCU) on February 6, 2022. The process was fraught with confusion from the start. There were mistakes on the BFSFCUs end that hampered our refinance. We were initially quoted a closing cost of $6,046 more than the required amount, and there were mistakes on the Loan Application that calculated our mortgage balance twice causing our debt to appear significantly higher than it is. Although I mentioned my concern about this error we were never provided with updated documents. We were told that there was a glitch in the system that caused the double counting and told to sign the documents as they were (with the incorrect information) and that they would correct the information on the back end. We were also asked to provide the same information more than once and given very tight deadlines to provide it with the warning that if we didn't meet the requested deadlines, our application request would be closed. When the application was eventually processed on April 1, 2022, our initial request of $200,000 at 2.5% with a 10-year arm was rejected and countered with an offer that would just pay off the credit card that we have with their institution in exchange for an adjustable-rate that would extend our mortgage an additional 30 years on top of us paying closing cost fees. We feel disappointed, misled and even wronged. As a result of that drawn-out process, we missed an opportunity to pursue a refinance with another institution at historically low-interest rates.If for some reason our scores were too low for our application to be approved, why were we not told this early on in the application process? Why have us schedule an appraisal, make arrangements with a title company and pay for HOA docs. We were counting on the refinance to help us pay off outstanding debt, make some possible updates to our home, and most importantly, help pay for a medical procedure for one of our children.