Read 19 LendingHome Customer Reviews and Complaints (Page 2)

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Average Consumer Rating: 1.5
Rating Snapshot:
5 star: 2 4 star: 0 3 star: 0 2 star: 1 1 star:  16
Bottom Line: 5% would recommend it to a friend
Showing 12-19 of 19
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  • 20 out 23 people found this review helpful

    Borrower beware

    My son was part of a flip project in St Louis, Missouri that was funded in part with the hard money loan from LendingHome.

    The deal went bad after five months, and even though it was under contract to be sold, LendingHome auctioned the property. At the time of the auction, LendingHome had collected $27,720 in loan fees on a $385,000 interest only note that had already netted LendingHome more than 7.2 % interest. The soft money invested in the property for repair was an additional $128,000. The after repair appraisal was $560,000. The bottom line is that LendingHome was able to pick up a $560,000 property on a $385,000 note that only ran 11 months while collecting $27,720 in interest.

    Thinking about doing business with LendingHome? Think again.

    It is a high-risk lender with 10% additional fee for late payments. Zero stars for these folks. Borrower beware!

    Bottom Line: No, I would not recommend this to a friend

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  • 17 out 19 people found this review helpful

    Fraudulent; looking for others to speak with.

    • Chico, CA,
    • Apr 14, 2017
    • Verified Reviewer
    • The company does not disclose information properly.
    • Changed my interest rate last minute.
    • Did not properly release my construction funds, used a non-legitimate inspector.
    • Changed things throughout the process on a high-interest loan to slow me down.

    That's just a short list of issues. I have filed a fraud lawsuit against the company and several employees. When the process server attempted to serve, the CEO and several of the employees that were seen by the server ran and hid like little children to avoid service.

    If you like me have dumped your money into a project and were expecting LendingHome to act fair and have become a victim of fraud or breach of contract, please contact me. I am trying to put together a lawsuit.

    Bottom Line: No, I would not recommend this to a friend

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  • 16 out 16 people found this review helpful

    Poor communication and collections enforcement

    The strength of LendingHome is that is there is a broad selection of properties to invest in. However, I have found that when borrowers fail to pay, LendingHome is very bad about communicating with investors about the status of the loan or their efforts to collect.

    I have one loan that is in default for the second time, now over 90 days overdue, and despite repeated inquiries, LendingHome has not told me what they are doing to collect. I have invested in other platforms where defaults have occurred, and I can say that lending home is much worse than Patch of Land, for example.

    Bottom Line: No, I would not recommend this to a friend

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  • 15 out 16 people found this review helpful

    crooks, scam artist

    • Cincinnati, OH,
    • Nov 12, 2016
    • Verified Reviewer

    Lending home is a total scam. They steal your money. Never use them trust me. Tyler Brett, Alex Stephenson and the list goes on!

    Bottom Line: No, I would not recommend this to a friend

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  • 1 out 9 people found this review helpful

    Best Possible Experience with Lending Home

    • Scottsdale, AZ,
    • Apr 14, 2016
    • Verified Reviewer

    Gabe at Lending Home won me over when I was looking at various lenders. He wasn't trying to sell me, he wasn't pushy, he was just there to help provide me the answers to the questions I had. He was so competent which made me feel comfortable using them as my lender.

    They were able to get me a much lower rate than the first mortgage company I was working with.

    The process was very smooth and they have a very user friendly portal. You can even see the interest rate calculations online.

    They pulled strings and got me closed on my home mortgage in a very short time frame. April was also wonderful and in constant communication with me daily.

    Gabe & April are the definition of customer service. I wish every business operated as they did.

    Thank you lending home for a smooth lending experience and top notch customer care.

    Bottom Line: Yes, I would recommend this to a friend

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  • 14 out 17 people found this review helpful

    Rude, No Communication, No Answers, Leave You LOST.

    • Johnson City, TN,
    • Mar 30, 2016
    • Verified Reviewer

    We started dealing with this company and at first everything was professional and great. Then they changed our account manager and the new one leaves without us knowing and could not get any information or call backs for weeks. Then we get another one and then 2 weeks later we had to start all over again with a fresh one, who acts fresh out of college, was not trained and after he couldn't answer our questions stopped communicating with us altogether. We find out on our own our loan was dropped and we get the process restarted and doing it OURSELVES and with no help from their loan analysts and processor or the account manager we finally get a construction loan done. Only to be told we cannot get our draws. We have tried and tried to ask what the procedures are and for help and have gotten NONE! My advice is to try anyone else but LendingHome.

    Bottom Line: No, I would not recommend this to a friend

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  • 17 out 17 people found this review helpful

    Dishonest, incompetent, and probably criminal

    • Portland, OR,
    • Nov 18, 2015

    The most shady business transaction you will ever be involved with. Document requirements will change without notice 28 days after everything requested has been provided. Deadlines will be missed over and over, and lies will spew endlessly.

    Worst experience I've ever had with any company ever. Stay as far away as possible.

    Bottom Line: No, I would not recommend this to a friend

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  • 32 out 32 people found this review helpful

    Scam and run around

    • St. Petersburg, FL,
    • Aug 22, 2015

    Lending home appears to be immersed in the practice of gathering $199 application fees without consummating loans. I applied and offered full transparency with an impeccable credit rating, a net worth of 20x times the loan value, and a loan request that was 50% of the value of the house financed. They hit me with repeated requests for documentation that clearly indicated that they had not reviewed the documents that I had uploaded to them, and ultimately placed demands to get financing that were absurd and ridiculous for a small time renter, the exact profile of the people that they attempt to lure. It appears to me as though they clearly went after the application fee and had no value for an on-going loan or building a reputation with an up and coming business that had already invested considerably in this business. Too bad. They missed a great opportunity here.

    Bottom Line: No, I would not recommend this to a friend

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Showing 12-19 of 19

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