Erik Johansson “Redfin Recommended” service providers are highlighted strictly as a resource, and are chosen based on their positive relationships with our agents, and/or consistently high customer reviews.
“Redfin Recommended” service providers are highlighted strictly as a resource, and are chosen based on their positive relationships with our agents, and/or consistently high customer reviews.
Bay Equity Home Loans, A Redfin Company
Erik's Reviews
We survey everyone who has submitted a loan application with this lender, whether the loan closed or not.
Elmhurst, IL
$715,000
Hanover Park, IL
$414,000 • 1st Time Buyer
Chicago, IL
$1,650,000
Roselle, IL
$245,000 • 1st Time Buyer
Schaumburg, IL
$398,000 • 1st Time Buyer
Park Ridge, IL
$1,190,000
Lombard, IL
$645,000
Chicago, IL
$1,225,000
Willow Springs, IL
$260,000
Naperville, IL
$284,000 • 1st Time Buyer
Schaumburg, IL
$360,000
LONG GROVE, IL
$315,000 • 1st Time Buyer
DOWNERS GROVE, IL
$342,000 • 1st Time Buyer
CHICAGO, IL
$695,000
CHICAGO, IL
$782,761 • New Construction
ELK GROVE VILLAGE, IL
$365,000
NAPERVILLE, IL
$367,500
ROSELLE, IL
$333,500
MCHENRY, IL
$253,000
HUNTLEY, IL
$295,900
CHICAGO, IL
$329,000 • 1st Time Buyer
LINDENHURST, IL
$230,000 • 1st Time Buyer
Woodridge, IL
$275,000 • 1st Time Buyer
CHICAGO, IL
$450,000 • 1st Time Buyer
GLENVIEW, IL
$510,000
ARLINGTON HEIGHTS, IL
$397,000 • 1st Time Buyer
Seattle, WA
$305,000
CHICAGO, IL
$450,000 • 1st Time Buyer
CHICAGO, IL
$441,500 • 1st Time Buyer
CHICAGO, IL
$535,000 • 1st Time Buyer
MOUNT PROSPECT, IL
$327,000 • 1st Time Buyer
BERWYN, IL
$311,000 • 1st Time Buyer
This was a small error that lead to a big inconvenience. The buyers in this transaction were required to wire transfer their funds to the closing, we mistakenly attached the wrong wiring instructions and they in turn wired their funds to the wrong bank as a result. By the time the error was uncovered the receiving bank had closed for the day. As luck would have it the closing took place on a Friday, and receiving bank would not be open again until Monday morning. Fortunately the receiving bank was able to return the funds to the buyers account that same day, and the buyers delivered a check to the title company the following morning. We deeply regret the error and the stress it caused to our clients. This has never happened before and will likely never happen again. To be certain it doesn’t, we have taken this as an opportunity to review and improve the way we handle these instructions.
GLENVIEW, IL
$400,000
BUFFALO GROVE, IL
$280,000 • 1st Time Buyer
LAKE FOREST, IL
$790,000
BROOKFIELD, IL
$499,999 • New Construction
LOCKPORT, IL
$171,500
Chicago, IL
$464,000 • 1st Time Buyer
CHICAGO, IL
$355,000
CHICAGO, IL
$360,000 • 1st Time Buyer
OAK PARK, IL
$625,000
LAKE ZURICH, IL
$210,000 • 1st Time Buyer
CHICAGO, IL
$590,000 • 1st Time Buyer
I understand the clients frustration, and I’m sorry that they had a difficult experience. The client and I spent a great deal of time together to craft a plan that made the most sense for them given their circumstances and the relatively short time frame they had chosen to execute the transaction. I must admit we were caught completely off guard when midway through the transaction we stopped hearing from the client, which is not necessarily unusual with folks that keep busy schedules, when we contacted our client we were informed that our outbound emails were being routed to their spam folders. We picked up from where it appeared the chain had broken and requested the remaining outstanding items. In this circumstance we ask for everything we need with the understanding that its better if we receive something twice than to leave it outstanding. This created a delay that ultimately pushed us past the contract closing date. Fortunately the sellers allowed the clients to move into the home as planned and we closed shortly after. As a gesture of good will we covered all of the costs involved with moving the closing date and our lender fee. My team and I took this as an opportunity to take a fresh look at how we set, manage, and reinforce our clients expectations. It’s of vital importance to not only lay out a plan but ensure our clients meet the necessary triggers to stay on track.
CHICAGO, IL
$399,900
CHICAGO, IL
$200,000
CHICAGO, IL
$640,000
Chicago, IL
$323,000 • 1st Time Buyer
We are very sorry this client had a bad experience. This was a tough transaction from beginning to end. The negotiations were hard fought and midway through the process a situation arose with the association that nearly caused the client to walk away from the deal. While this situation was being resolved the processing of the loan was put on hold. It should be noted that stopping the processing of the loan is a very effective tool to show the sellers you are serious about your concerns but that it does not stop the game clock and unless otherwise negotiated does not change the closing date. Once the issues were resolved we were able to close the loan within 2 weeks and meet the original closing date. While we were able to provide the client with an estimated amount for closing we were unable to get a copy of the HUD-1 settlement until the day of the closing. Half of the figures on the HUD-1 statement come from lender and the other half from the sellers attorney. In spite of repeated requests the figures were provided just prior to closing leaving no time left to review it and make changes in advance. Though the client was aware of the situation that’s cold comfort when all you really want are the final figures and a little time to digest them before you sign on the dotted line. We shared his pain and understand his frustration. We’ll push even harder next time.
CHICAGO, IL
$240,000 • 1st Time Buyer
ELMHURST, IL
$460,000
We share in the clients disappointment and understand that even a small shift in rates can have a large impact over the life of a loan. This experience underscores the importance of being prepared to make a decision quickly in a volatile rate environment. In the time that it takes to gather the final quotes from multiple lenders or reach out to the person you are buying the home with to confirm the decision to lock the rate the market can shift. Whenever possible get final rate quotes close together and if the decision is to be made in tandem have all parties together and or available. Rate locks are executed in real time right over the phone or even in person if you happen to be with your loan officer when you lock. Unfortunately we are unable to lock a rate via instructions communicated by email or voicemail. As a loan officer I am an advocate for my clients and was sorry to see both the opportunity slip away and the shadow it cast over the rest of the experience.
Chicago, IL
$245,000 • 1st Time Buyer
Once this client chose to work with us, we took the loan from application to closing in 31 days. We closed on time without delay, and we made every effort to respond to this client in a prompt fashion. The closing itself was a little longer than normal due to an issue at the title company. The client’s attorney called from the closing, and we helped them to sort it out and then the loan funded. I apologize that the process was hectic for this client, and in the future, my team and I will strive to respond to every question or issue as quickly as possible.
GLENVIEW, IL
$480,000 • 1st Time Buyer
DES PLAINES, IL
$330,000
CHICAGO, IL
CHICAGO, IL
$265,000 • 1st Time Buyer
LOMBARD, IL
$270,000 • 1st Time Buyer
CHICAGO, IL
$225,000 • 1st Time Buyer
LOMBARD, IL
$410,000 • 1st Time Buyer
CHICAGO, IL
$305,000
ST. CHARLES, IL
$285,000 • 1st Time Buyer
CHICAGO, IL
$575,000 • 1st Time Buyer
OAK PARK, IL
$315,000 • 1st Time Buyer
Wilmette, IL
$605,000
OAK PARK, IL
$375,000 • 1st Time Buyer
We were not happy with the length of time it took for this loan to go through either. When the loan process takes longer than the time that has been budgeted it puts everyone involved in the transaction, especially the buyer, in a really bad spot. One of our primary responsibilities is to set and manage expectations. We take great care to carefully review each individual's set of circumstances and outline any potential challenges up front prior to entering into a contract. When things go according to plan it’s a seamless operation. When challenges arise it gives us the opportunity to identify and overcome them early. On rare occasion the unforeseen challenges that arise as a part of the process rise to a level that cannot easily be overcome. We knew this was going to be a tough loan to get done from the start and shared that with the buyer but we couldn’t have known it would get that much tougher along the way. My team and I have reviewed this experience in great detail so that we can be better prepared in the future.
BARTLETT, IL
$300,000 • 1st Time Buyer
CHICAGO, IL
$309,500 • 1st Time Buyer
LAKE BLUFF, IL
$325,000 • 1st Time Buyer
CHICAGO, IL
$420,000 • 1st Time Buyer
CHICAGO, IL
$274,900 • 1st Time Buyer
CHICAGO, IL
$650,000
BROOKFIELD, IL
$267,500
CHICAGO, IL
$252,500 • 1st Time Buyer
LONG GROVE, IL
$590,000
CHICAGO, IL
$315,000 • 1st Time Buyer
BROOKFIELD, IL
$250,000
CHICAGO, IL
$385,000 • 1st Time Buyer
NORTHBROOK, IL
$131,000 • 1st Time Buyer
AURORA, IL
$261,500 • 1st Time Buyer
CHICAGO, IL
$180,000 • 1st Time Buyer
CHICAGO, IL
$219,000 • 1st Time Buyer
CLARENDON HILLS, IL
$600,000
CHICAGO, IL
$251,910 • 1st Time Buyer
BOLINGBROOK, IL
$185,000 • 1st Time Buyer
CHICAGO, IL
$545,000 • 1st Time Buyer
CHICAGO, IL
$575,000
CHICAGO, IL
$230,000 • 1st Time Buyer
GLEN ELLYN, IL
$419,500
WHEATON, IL
$430,000
NORTH BARRINGTON, IL
$350,000
AURORA, IL
$320,000 • 1st Time Buyer
CHICAGO, IL
$262,500 • 1st Time Buyer
CHICAGO, IL
$417,000 • 1st Time Buyer
CHICAGO, IL
$577,500
CHICAGO, IL
$385,000 • 1st Time Buyer
PALATINE, IL
$409,900
NILES, IL
$187,000
CHICAGO, IL
$310,000
CHICAGO, IL
$263,000
CHICAGO, IL
$285,500 • 1st Time Buyer
CHICAGO, IL
$1,075,000
Chicago, IL
$357,500 • 1st Time Buyer
CHICAGO, IL
$441,500 • 1st Time Buyer
CHICAGO, IL
$715,000
CHICAGO, IL
$385,000 • 1st Time Buyer
CHICAGO, IL
$393,250 • 1st Time Buyer
CHICAGO, IL
$407,500 • 1st Time Buyer
CHICAGO, IL
$320,000 • 1st Time Buyer
SCHAUMBURG, IL
$325,500 • 1st Time Buyer
CHICAGO, IL
$380,000 • 1st Time Buyer
CHICAGO, IL
$230,000 • 1st Time Buyer
ADDISON, IL
$210,000
CHICAGO, IL
$280,000 • 1st Time Buyer
GLEN ELLYN, IL
$560,000
LOMBARD, IL
$426,500
CHICAGO, IL
$530,000
WILMETTE, IL
$715,000 • 1st Time Buyer
LINCOLNSHIRE, IL
$600,000
CHICAGO, IL
$550,000 • 1st Time Buyer
Chicago, IL
$370,000 • 1st Time Buyer
NAPERVILLE, IL
$440,000 • 1st Time Buyer
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