Pasadena, California

Primerica came out and trying to get a loan approved for us to put our house and debt on this loan I have heard that this is not a very trust worthy company just looking for advise..

Times are tough right do not want to get into something I will not be able to get out of. Any help is appreciated..

The are having an appraiser come out on Saturday and they will be asking me to sign with them I am sure. I just am not very sure about this and need some advise has any one ever gotten a loan from this company and if so is it worth it

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I was told that Primerica doesn’t do refinancing on houses that they only do insurance and help fix your debts. I’m interested in refinancing my house I have already talked to a Primerica representative and she says she’s going to help me.

But the truth I have my doubts and concerns that if I’m going to trust my house to them and might lose it by making this decision.

If anyone can tell me if it’s a good or bad idea I will appreciate it. Thanks.


My husband and ! are reps for Primerica, plus we have a Smart Loan, and Life Insurance.

Primerica is the best thing that has happened to my family, and because of Primerica we are debt free and financially independent, especially in these times of economic hardships. If anyone is questioning Primerica then I think they didn't really pay attention to their kitchen table presentation.

It's a no brainer. PRIMERICA ROCKS!!!!


(Primerican posing as client)



troll, you must be a bitter broker who who prefers to rip people off. I am a mechanic and primerica changed my life for the better.


SMART Loan is unbeliveable !!! Paying off my mortgage & debts in 6 years instead of 18 years !!!

I love it !

Primerica rep's are just awesome, they help you and answer to all the little questions you may have ! A+++


Please tell us your new loan amount, interest rate and bi-weekly payment.



My husband and I did the SMART loan on our house in January. We love it! We had 29 years left on our mortgage and now we have 13 years and 7 months, and we're paying less a month than we were before! We put a student loan and some credit cards in, but now all that interest is tax deductible. But after the appraiser comes, the rep will contact you in a few days and set up a date with the bank to come to your house and close. After the guy comes to you house and if you choose to sign everything, you still have 3 days to re-read everything and back out of it, with no obligations. The fees were 3 percent and in my case, are already paid off, but usually pay off in the first 18 months. Just ask the rep you sat down with for an amortization schedule and ask the company you're currently with to give you one too. By law, they are accurate. Just compare the two and see how much interest you're going to pay if you stay where you are vs. if you switched.

About the interest rate. I struggled with this too, b/c we added about 1.5% to our rate when we refinanced. But Primerica told us that they don't do debt consolidations, b/c that alone doesn't work. They were giving us a roadmap to be completely debt free and start saving for retirement. Which is why they suggest using the monthly savings with the consolidation to accelerate your loan. So for example, my husband and I freed up $529/ month and put $500 back to the loan to speed up the payoff date. Well, when the interest rate dropped during the waiting period, our savings went up to $600/ month, but we added 7 months to the debt free date UNLESS we used the additional savings to pay off the loan. Which is fine, but if a family needed extra money a month and knew the acceleration was optional, it would be very tempting to stop the extra money and just get further in debt. They're already losing $280k in interest by selling me the loan. It would actually be in their interest to lower the interest rate and add time to my loan.

I read the other day that mortgages 90 days past due are at 12% nationwide, but with the SMART loan, the rate is 0.77% and I think it's because people who do the program can see the big picture.

I'd say, just trust your instincts and take everything everyone posts here with a grain of salt. Do your research and shop around if you need to, but pretty much every person here is going to be biased one way or another. Good luck!


A common thing is primerica recommends a short, med, and long term savings. the short term should have 3-6 months of bills in case something happens work related or what have you.

The people who complain seem to have a common thread of no money saved and didn't listen to advice and are living paycheck to paycheck. Had they just put some away it would be different. But some people are looking for a quick fix and are not prepared to take responsibilities for their actions. Your the only person who spends your money, but people like to blame others.

I have been looking at the smart loam myself for our mortgage and are capapble of planning ahead and paying our mortgage on time as we normally do. Thanks for the review :)


Invest the difference. :grin Why hasn't Primerica come up with that?

As for the parent company, they are currently trying to sell Primerica so they arn't a real consideration. If interest rates didn't matter why charge a higher one?


Don't sign it prior to having an expert (like myself) examine it.

Find out EXACTLY what the rate, loan amount, TOTAL closing costs, bi-weekly payment, and projected payoff time is. Then post those answers on the forums so we can check out exactly what you're getting into.


Primerica DOES NOT offer interest only loans. It goes against what we teach people. The mission statement goes: Helping families become properly protected, debt free and financially independent. I don't see how an interest only loan would fit into that statement, because it would keep you in debt forever. I don't know if Citimortgage, CitiBank or CitiFinancial do that, but Primerica operates differently and independently from these companies. That's what A LOT of people don't understand. CitiBank is one of the biggest credit card issuers and we at Primerica teach people to get rid of credit cards and credit card debt. I know that our loans for first time homebuyers are done through citimortgage, but because they are done by a Primerica agent, they are standard fixed rate loans. Again, we believe in certain concepts and we stand by them.

Some of the citi companies may be responsible for the mortgage crisis, but I can tell you Primerica IS NOT. The mortgage crisis came from adjustable rate mortgages, which are loans which are fixed with low payments for 2 years, but then readjust to a higher interest rate/payment. Example, you pay $900/month for 2 years, then it jumps to $1500. If for any reason, you don't qualify for a refinance, you lose your home. Big reason for whats going on right now. Primerica has never done a single ARM loan. Also, lots of companies gave loans to people who simply didnt qualify for them, either because of credit or income. They gave out loans like crazy without proper income verification, and sooner or later, people lost their homes. Primerica DOES NOT do this either.

We are OWNED by Citigroup and that is IT. I really don't know why people attack Primerica without any basis for the attacks. I understand that there are LOTS of idiots in Primerica who turn of people with the way they try to recruit, or they way they conduct several aspects of their business. but this is not a reflection of Primerica as a company. Any way you slice it, Primerica helps people.


Well sir, as the first to reply to your question, let me tell you up front that I am a Primerica rep in TX.

I just want to say that since you're getting a loan secured by your home, I don't know why you would have anything to worry about. PFSHMI is lending YOU money, so if anyone has anything to worry about it should be Primerica and not you.

As far as being a trustworthy company, Primerica has been in business since 1977. The mortgages didn't come in til the late 90s I believe. We are owned by Citigroup, which is the #1 financial services company in the world, soon to be #2 due to some recent acquisitions made by either Chase or Bank Of America, not sure which. But at #2, Citigroup is doing well with over $2.4 trillion in assets. I only mention this because Primerica is owned by Citigroup, so I thought you might want to know we have that kind of backing.

As far as the SMART loan itself, do the math. You're getting out in 21 years? How many do you currently have left? IS your current mortgage a fixed-rate loan? If it's not, you should refinance and get a fixed rate asap. SMART loans are fixed rates, we have NEVER done adjustable rate mortgages, which is the reason why so many people are losing their homes and why the economy is falling apart as we speak.

So yes, it is a trustworthy company. If you're going to include other debt into the loan, do it because you're trying to get out of debt for good, not because it's a quick fix. If you include a bunch of debt in your mortgage and 2 years down the road, you're up to your knees in debt again, then you might as well just refinance the mortgage alone and not include outside debt.

But again, sit down and do the math. Usually with SMART loans, we try to keep the payment more or less the same, but we try to get you out of the loan years faster so you have more money to invest for your retirement (whenever it becomes safe to invest again lol). But it really depends on your needs.

My advice, do your loan and pay as much as you can comfortably afford so that you can pay it off as fast as possible. Take advantage of the equity builder feature, which means that instead of paying $1000 a month, you'll pay $500 every 2 weeks. You might say, isn't that the same thing? Well no. There's 52 weeks in a year, so you'll actually make 26 payments a year, which will equal 13 monthly payments per year instead of 12. So you actually pay more per year this way, but it saves you tens of thousands in interest charges.

Most people are conditioned to shop for the lowest payment and the lowest interest rate.

You should ask how much is this loan going to cost me TOTAL and how long am I going to be paying it?

People lie, numbers don't. For the 20th time, just do the math. Good luck!


Thank you for the numbers. Facts really do speak louder than sad brokers who lost a client and are sad in their office alone.

Primerica changed my life 14 years ago, and my investments multiplied compared to my bank tfsa.

Fight the tradition of banks ripping people off!! It is a good thing.


Its a scam. Stay away from these guys :sigh


Primerica changed my life for the better 14 years ago..... If a scam is doubling and tripling my money by my 30's then i'll take 2.

Did you know they are AGF, Mackenzie, etc funds that many brokers use....

But brokers charge you more fees all the time, and I even got a comprehensive financial plan for me and so far it's working. I'll take the financial independence instead of the tradition of banks and brokers.....


Primerica is an enormous ripoff. Bankers understand the exponential mathematics of percentages. You would be amazed at what the difference between 6% and 8% is over the course of 30 years. So when a Primerica rep says "interest doesn't make any difference", he is LYING to you!!! I thought Primerica was "buy term and invest the difference". If the policies and mortgages are MORE than their competition, how can there be more difference to invest?

Further, the claim has been made that Primerica is not a pyramid evil fraud scam scheme that A.L. Williams was. But I still get reports of Primerica captive agents trying to recruit a "downline" via their friends, co-workers, loved ones, walking through the malls, passing out leaflets, putting ads at bus stops, booths and on telephone poles and all manner of soliciting. All indica-tions are they still have their feverish cultic rallies saying "recruit, recruit, recruit" - a nice way of saying illegal evil pyramid fraud scam boiler room scheme abomination.

Read more on this threads and others. There are even some interest only offered by Primerica, which means you NEVER get the real estate loan paid off. Further, Primerica and its parent Citigroup are in part responsible for the subprime crisis we are in now.