Loanguys.comReviews of loanguys.com

Had to send the same documents repeatedly, communication was terrible, was told one rate never got the papers to lock it in, wh n I did the rate was 2 percent higher with pre payment penalty. My rep and underwriter apparently never communicated because the numbers never matched. Was the worst loan experience I have ever had all the way to close which was more of the same paperwork was wrong and had to sit in closing office waiting on the corrections.

Don't get proper response, hard to get hold of them and don't get to know what's going on with your loan, don't get closing documents until day of closing

Initially when I spoke to my loan officer I was quoted a 14 day time frame as well as a specific interest rate ( below my current rate of 5%). After several weeks of going back and forth loan docs were completed 30 days later. At signing not only was my rate a lot higher but I was also charged $10k in closing, origination and misc fee's to write this loan. Had I not been in a situation that the cash out was already committed to another investment I would never have gone through with the loan. Not a very professional way to conduct business

First the positive - Joshua, (our rep) was great to deal with, I lost count of the uncomfortable conversations that he had to make keeping us abreast of the lack of progress on the loan, I felt bad for him. "As little as 2 weeks to close" or maybe more accurately, 1 day short of 3 MONTHS to close! After waiting a month and a half for the appraisal, they sent them to appraise our office rather than the house, causing another 2 week delay. The appraiser was absolutely clueless, using comps from 2 towns and over 7 miles away, when there were a TON of comps nearby. Assured all along that "the team" had everything ready to close once the appraisal was back, they then advised that they would need a new survey to proceed... yet another delay. Thankfully, my title company has a great rapport with the survey company they use, and it only added a week to the delay. Finally finished and ready to close, the lady at the title company that we've used for decades begged me not to use them again, she was asked to provide the same information 4 times before she refused and made them find it in their files, they remitted the wrong amount at closing, and still left her short $12 at the end of the day. The only thing they managed to do in a timely manner was add themselves to our insurance policy nearly two months before they closed the loan! With a credit score over 800, 75% LTV, a DSCR of 1.94, and a measly $125k loan, you'd think this would be an easy one!

This company has promised a quick refinance on an investment property. I have had a struggle with them every step of the way. A couple of examples are that they said we were waiting on Title to approve everything and in reality we were waiting on closing paperwork from my 2nd mortgage. I was expecting to pay that off after closing but they required it done at closing. Not an issue, but if they had properly told me the requirements we could have gotten the paperwork beforehand. Instead we wasted about 8 business days waiting for something I was able to get in 24 hrs. Another example was as we were waiting for closing, I received an email that they needed my social security. Again not an issue, but I could have given to that in week 1, not on the last day. The last part of this that really irritates me is that we scheduled a notary to sign. I specifically asked if we signed in the morning, when would I receive my funds. I was told that I would receive them by that afternoon. The notary was supposed to come by at 10:30 on Monday. At 10:40 I texted her to ask where she was at, and she told me that they had not yet sent her the paperwork. We had to reschedule to 12:30 that same day. I was then expecting my funds by Tuesday. That did not happen. On Wednesday I was told they funded the loan at 7AM. I was then told that it took 24 to clear. Obviously something different that what I was expecting from what they said on Monday. It is now Friday, and I still have yet to see any funds from this refinance. *Update I received my funds about 30 minutes after this posting. A guy from the title clearing company called and explained that his company dropped the ball in the last week. This guy paid me back his fee because of this. I gave this review an extra star because of this guy accepted that me experience was not up to expectations. I still have issues with Loan Guys and basically the expectations they set vs what I was delivered. I will say though, they are a legitimate company, and if you are worried about them scamming you, that should not be a concern.

Rates and fees kept changing. Notary was sent to my home at 8pm w hundreds of pages to sign. Discovered after closed that a prepayment penalty I insisted I didnt agree with was in the paperwork. I've closed many loans but this was by far my worst experience.

The representative I dealt with was hard to communicate with. I had to follow up numerous times because i did not hear from the rep.