Loan Depot rep, with advanced knowledge that I had not filed taxes, stated that my loan would be based on my good credit rating, 747. After taking my deposit, rep requested taxes. When I requested refund, all communication ceased. No refund, no emails, no phone calls just ripped off
For an FHA government guaranteed loan, I, with good credit and employment income, and wanting to use the FHA process (HUD and Tax paid) entertained the man from out of state (his phone call registered in Orange County but his office is in Dallas, Texas). He wanted almost $500.00 upfront debit card only for an "appraisal" of a property in Missouri? Come on tax payers. Smooth operator. I checked him out! He and his company loan depot, are not on the HUD approved list for FHA lenders. HUD is good. HUD protected me. Thank you HUD!
I started my process with loan depot to purchase a home and I was very skeptical because I read some bad reviews but there were also good ones. I was promised a fast closing process and told by my loan officer Michael F. and given a great deal of conflicting information by him. Then I started getting calls by an Elysa M. who stated she was taking over my account and handling things from there. She would basically contradict the previous rep. The bottom line is I was told we could close by a certain date...I took off work only to find that the account had not been finalized. I spent countless dollars faxing documents sometimes repeatedly and finally I felt I wanted out of the loan due to all the inconsistencies and the time it took for the process. I was told by Michael F. that I could get a refund in the beginning as well as in the end and now they say because I am pulling out of the loan and won't send them any further documents after I have sent them pages and pages of faxes now I am not eligible for a refund. So the moral of the story is keep your $495.00 in your pocket and go with a more reputable loan company.
Loan Depot Reviews
Loan Depot rep, with advanced knowledge that I had not filed taxes, stated that my loan would be based on my good credit rating, 747. After taking my deposit, rep requested taxes. When I requested refund, all communication ceased. No refund, no emails, no phone calls just ripped off
For an FHA government guaranteed loan, I, with good credit and employment income, and wanting to use the FHA process (HUD and Tax paid) entertained the man from out of state (his phone call registered in Orange County but his office is in Dallas, Texas). He wanted almost $500.00 upfront debit card only for an "appraisal" of a property in Missouri? Come on tax payers. Smooth operator. I checked him out! He and his company loan depot, are not on the HUD approved list for FHA lenders. HUD is good. HUD protected me. Thank you HUD!
I started my process with loan depot to purchase a home and I was very skeptical because I read some bad reviews but there were also good ones. I was promised a fast closing process and told by my loan officer Michael F. and given a great deal of conflicting information by him. Then I started getting calls by an Elysa M. who stated she was taking over my account and handling things from there. She would basically contradict the previous rep. The bottom line is I was told we could close by a certain date...I took off work only to find that the account had not been finalized. I spent countless dollars faxing documents sometimes repeatedly and finally I felt I wanted out of the loan due to all the inconsistencies and the time it took for the process. I was told by Michael F. that I could get a refund in the beginning as well as in the end and now they say because I am pulling out of the loan and won't send them any further documents after I have sent them pages and pages of faxes now I am not eligible for a refund. So the moral of the story is keep your $495.00 in your pocket and go with a more reputable loan company.
Tiffany W.