Read 23 LendingHome Customer Reviews and Complaints (Page 2)

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Average Customer Rating: 2.1
Rating Snapshot:
5 star: 6 4 star: 0 3 star: 0 2 star: 1 1 star:  16
Bottom Line: 22% would recommend it to a friend
Showing 12-22 of 23
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  • Extremely incompetent, unorganized utter mess, avoid AT ALL COSTS

    • By Peng,
    • New York,
    • Dec 27, 2017
    • Verified Reviewer

    My process began over two months ago on October 19, 2017, with Raul Rossel. I paid the application fee of $199 as advertised, believing that the appraisal was included. Shortly after the loan process began, I discovered that was NOT included and I had to pay the additional $645 appraisal fee.

    We agreed on 10% down and 90% loan, but once the loan started to process, Raul changed the terms and said that I have to put additional money down without reason or explanation.

    On November 20th, it came time for ordering the appraisal, Raul could not confirm my payment and thought that I did not pay. I sent screenshots of my Chase statements from November 1st (over two weeks ago) showing my payment, and he still could not confirm anything for hours.

    Finally, the appraisal came back with great numbers, and Matthew Steurer came into the picture and asked for the same information, which was sent multiple times and also entered into your CRM system. I even had to attach scans of my Social Security card and ID through email, which is a big privacy concern.

    Now we are a couple of days before closing, and was informed that my loan was denied without any reason!

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

  • An absolute waste of time!

    • By James Rogers,
    • Dallas, TX,
    • Oct 2, 2017
    • Verified Reviewer

    Stay away from California lenders at LendingHome, find a lender LOCAL! After having jumped through multiple hoops, and coming back with three alternatives, we chose two of them, and they didn't even bother following up with us.

    I will never attempt to use these people again!

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

  • Poor service and stressful experience

    We applied for a short-term loan with in July 2017. The first person we spoke to, Selby Cohen, quoted us 10% interest and $3000 in closing costs for a loan secured by a home we own free and clear. While this quote seemed high, it met our needs for a short-term loan to purchase a manufactured home to put on a lot we also own free and clear.

    Shortly after interacting with Selby, our application was turned over to Jason Crouse for processing. Jason seemed quite pleasant at first. Lending Home required us to use their appraiser, even though the loan amount was about 54% loan to value ratio. This appraisal cost us over $800, high for this area.

    Anyway, as we were getting ready to sign our loan documents, Jason said the interest rate would be 11% instead of 10%. He claimed we were never quoted 10%. He finally talked to management and supposedly had our origination fee lowered to $2500. When we went to sign the loan documents, there was an additional "servicing" fee of $749 that he had never mentioned to us. He only agreed to reimburse us $225 AFTER signing with a promise of a refund. Not only did he add this fee, but he also changed the requirements for our Title insurance to include confirmation of getting our new manufactured home set up on the lot at an additional cost. Since the loan was secured by another property, this made no sense to us or to our escrow agent.

    Due to these continuous last minute changes to our loan, we have decided to go with another lender. I would NEVER recommend LendingHome to anyone!

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

  • Bad customer service and very untruthful

    • By Chidi,
    • Dallas, TX,
    • Aug 12, 2017
    • Verified Reviewer

    I was in the process of purchasing a property and decided to go with LendingHome. I didn't see a lot of reviews online, and that should have been the red flag. They were in communication with me, and after paying $199, they stopped communicating effectively.

    I was later told that before the underwriter will do a preapproval, all required docs including title and paying for one year of insurance must be provided. I paid for the insurance and also provided the preliminary title and still heard nothing back. My closing was fixed on 8/2. I contacted them on 8/1 and no response until I copied a few VPs in the company.

    The agent called me and said I told them I was going to pay cash for the property. How did I plan to pay cash but I paid for one year of insurance and sent you the binder? I believe they are more interested in the $199 initial fee.

    PLEASE, stay away from them if you are an investor that values your time and closing.

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

  • 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

  • Fraudulent; looking for others to speak with.

    • By Timothy,
    • 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

  • 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

  • crooks, scam artist

    • By John,
    • 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

  • Best Possible Experience with Lending Home

    • By Erin,
    • 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

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

    • By John,
    • 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

  • Dishonest, incompetent, and probably criminal

    • By Dan Tracy,
    • 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

Showing 12-22 of 23

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