Loanpal Reviews

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Overall Rating


56 Customer Reviews


Loanpal is a lender that provides four types of loans for homeowners: home purchase, home refinance, solar loans, and home improvement loans. See how customers are reviewing Loanpal.

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Customer Reviews

3.6 Stars out of 56 Reviews
5 Star:60% 4 Star:1% 3 Star:1% 2 Star:3% 1 Star:32%
64% Recommend This Company
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Posted on Aug 12, 2019

Great customer service

By Sharon S., Dutton, VA, Verified Reviewer

All my questions were answered thoroughly by Robert Gallups. I could contact him day or night (and did). He never left my side through the entire refinance. We talked so much that we nicknamed each other "BFF". Best decision my husband and I ever made.

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

Posted on Aug 7, 2019

Not what we expected

By David D., West Valley, UT, Verified Reviewer

We went with Loanpal (Paramount) for a home loan refinance mostly because we wanted to roll out solar loan into the main mortgage. They were very quick and responsive on most things but we felt like they didn't tell us the whole truth or at least didn't dissuade us of them.

First, they told us we would save about $200 a month over our current mortgage, it including the cost of the current solar, at the end, we are saving just what we would have spent with keeping the old loan and solar loans instead.

Second, we closed in the middle of the month and were told that we would be missing 2 monthly payments, which should have made out 1st payment due the first of October. Once we got the "welcome letter" we found it was due on the 1st of September. For us that wasn't a big deal as we weren't going to skip them anyway, it's just the principle.

Third, in the welcome letter we were told as of now we have to send a paper check to pay the mortgage, no auto pay and no pay by computer.

Fourth, they don't accept biweekly payments. I told them my current loan was being paid every 2 weeks, they never told us that they don't do that. And even if they did according to the letter, we were told basically too bad, so sad, they don't.

Then it seemed we were constantly calling them to know what was going on. At first they were good, but as we got closer to the closing date, the less information we got.

Would I recommend them? I honestly can't say I would, as they seemed to prey on those of us not knowing what to ask and what to clarify.

My overall experience was, I'd rate them average, as in nothing special.

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

Helpful Review? 3 People Have Voted

Posted on Aug 7, 2019

I had a great experience working with Kenny Nguyen

By David P., Suisun City, CA, Verified Reviewer

Kenny N. is really helpful and follows thru the whole application process. I met Kenny last year when I was searching for a good local refi company. Kenny really worked with me from the start and kept in contact with me until we found the best rate. He also worked up a few scenarios on my monthly payments. Look for Kenny when you need a me...he will help you the best way he can.

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

Posted on Aug 6, 2019

Friendly and experienced

By Justin C., Coarsegold, CA, Verified Reviewer

I would like to express my appreciation for the fast and hassle-free experience that I had with Kenny Nguyen, no worries from me, he took care of everything for me. He has the experience and knowledge that made it so easy for me. It’s a great relief to know that he has my best interest in mind.

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

Posted on Aug 6, 2019

Getting signed up and approved is easy, but contact is difficult

By Forrest M., Fresno, CA, Verified Reviewer

We recently decided to get solar and were offered a deal to combine our solar payment with our house mortgage and at the same time lower our interest rate from 4.25% to 4.00%. During this time, we received a lot of help and assistance by phone and email. On the phone, they initially promised us that there would be no fees, and that's what got us interested in them.

We got the loan disclosure, and after looking at it carefully, they actually did charge us fees that they initially said would be waived. The fees included the appraisal fee and title fees. After talking with them again and pointing out that this was not part of our original deal, they did fix it and provided a refund for the amount.

Our mortgage eventually got transferred over to CMC Funding. Payments are made online and are easy.

My only other gripe would be that trying to contact them by phone is always a pain. They have terrible wait times to answer the phone and it's almost always over 30-45 minutes. As a busy working parent, I just don't have the time to wait on the phone and it's difficult to reach them. If they call you, you better answer the phone, because you'll never be able to reach them again if you try to call back.

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

Helpful Review? 1 Person Has Voted

Posted on Aug 2, 2019

Not friendly at all

By Lynn M., Avon, IN, Verified Reviewer

First Loanpal helped me with a refinance so I could use equity as a down payment for an investment property. Every step of the way, it was like pulling teeth to get communication. Documents at the end showed higher figures than originally agreed on. Then, even before my first payment was made, I got a notice that my loan was sold and was given the new information to send payments to.

Next we start working on the loan for the investment property, and they were even more difficult to deal with. They ask for information that is none of their business. I sent everything they asked for, and I get requests for the same information I already sent. They tell me that I never sent it. Five days before closing I get a voicemail that says they have to change the cash to closing because we cannot ask the seller to provide more than a certain percent at closing. They knew this when the loan process was started 4 weeks before that. Yet they waited until we were 5 days from closing and blamed it on the realtor, when that is outside their scope. All lenders are crooks, but this is ridiculous.

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

Helpful Review? 1 Person Has Voted

Posted on Aug 2, 2019

Kenneth Nguyen

By Hoang N., Murrieta, CA, Verified Reviewer

Kenny was an amazing loan officer. He exceeds my expectations from start to finish. Thank you Kenny, for an amazing refinanced job that you did for me. He earned 5 stars with me. Thank you.

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

Posted on Aug 2, 2019

Kenny Nguyen is a five-star winner!

By Dava P., Euless, TX, Verified Reviewer

Kenny Nguyen gave me five-star assistance and service while processing a home mortgage refinance on my home. Kenny is always on top of the entire process and carefully coordinates everything I need to do to have a successful refinance. He is a pleasure to work with.

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

Posted on Aug 2, 2019


By Sokea S., Las Vegas, NV, Verified Reviewer

It was great working with Kenny Nguyen! He was such a pleasure to work with! Always so helpful when I had questions! He would clear up any misconception I would have and absolutely help me work through any problem! Five stars.

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

Posted on Aug 1, 2019

Whitnie Tiner of Loanpal

By Steve S., Florida, Verified Reviewer

I have worked with Whitnie on multiple real estate projects and she is simply amazing. Gets the work done quickly with none of the mess associated with her theoretical competition. If you need a loan, and want to get it done now, Whitnie Tiner of LoanPal is your solution.

Thanks Whitnie!

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

Posted on Jul 31, 2019

5 gold stars!

By Melanie B., Germantown, MD, Verified Reviewer

I'd highly recommend Loanpal. I had the pleasure of working with Mr. Jacob O'Donnell. His knowledge and expertise made my refinance process a very smooth one. The entire team worked cohesively and kept me abreast of the various steps that needed to be completed. I'm very at ease with my new loan and the fact that Loanpal was able to pay off a few of my outstanding debts, to get my credit in a positive range.

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

Posted on Jul 31, 2019

Review on Anthony Aires

By Annette S., Riverside, CA, Verified Reviewer

This review is about Loanpal and Anthony Aires, District Sales Manager. Anthony and Loanpal have always treated me with respect and friendliness. Anthony has always been professional and caring and that goes a long way with me. He has always been there if I have any questions. I will not go to any other mortgage company.

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

Posted on Jul 31, 2019

Whitnie is the best!

By Brianne G., Sacramento, CA, Verified Reviewer

Working with Whitnie was a wonderful experience. She kept me informed every step of the way during my refi. She answered all of my questions and I could tell she really wanted to find me the best deal. I highly recommend her!

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

Posted on Jul 31, 2019

Excellent experience!

By Loyce M., Sacramento, CA, Verified Reviewer

This is my third time refinancing with Whitnie Tiner and Loanpal. Whitnie has always treated me like family and made this process so effortless. I’m disabled and she went out of her way to come to my house to pick up my documents since I’m unable to get them to her. She is so genuine and such a wonderful person, I highly recommend her.

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

Posted on Jul 10, 2019

Confusing and inaccurate

By Maggie G., Los Angeles, CA, Verified Reviewer

Loanpal was very easy to get set up with. The problem comes after that, when you want to get a payoff balance or contact customer service by email. They apparently have more than one website for the same loan, and if you happen to click on the Solar Loan website for a solar loan, the email listed under "contact us" is a non-working email. So you email to that address requesting a loan payoff balance, and you get no response. After a couple of months go by, you realize you have to call. There is no other option. You cannot get any useful information off their website. And when you call, of course, you are put on hold. Bottom line, getting into this loan is easy. Getting out of it - paying it off early - is next to impossible.

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

Helpful Review? 1 Person Has Voted

Posted on Jun 28, 2019

Slow, like for monetary gain!

By Josh H., Denver, CO, Verified Reviewer

Slow at everything they do. I called in for a payoff statement and was told they'd get it emailed over to me. Four days later I called, and they said it can take up to two weeks to process a payoff statement. I notified them a home refi was waiting to close based on this statement, and magically was done within an hour.

After closing this refi, the closing company wired full payment directly to them. Four days later it was still not reflected on my online access, so I called. "We just received the wire today, so it will be processed now." Next day, still not showing the balance paid off. I believe they are just letting the interest run up to collect some more money from me. Anyone that has done a wire knows it is all completed the same day. Absolutely no reason to hold onto it for five days, and likely more assuming they'll need 2 weeks to process that payment like the payoff statement. Scam company looking to squeeze every dollar out of you!

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

Helpful Review? 1 Person Has Voted

Posted on Sep 10, 2018


By Timothy L., California, Verified Reviewer

I was first contacted by phone by a Loanpal agent. This was April, and I was told they could save me money on my home payment. After sending many docs and verifying income and others, they sent me e-signature docs on my laptop. Great follow up at first, but then no return calls. The first agent no longer works there, others I worked with were out on medical leave, no agent had our old info and I started over many times. Then they said ok, if the appraisal is good you have a loan. Wrong. It was $140.000 more than the current loan and there is still no loan.

Then they said Fannie Mae doesn't like my home. I called them but they said I can't talk to them but the loan company can, and if they requested a reconsider on loan after giving them the info. I told them they would most likely give loan. They did not make a request. Now I have no loan five months later and am out the appraisal fee, which they said they will not refund. Not a good company. They could give me a loan on their own without Fannie Mae. It's under $300,000.

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

Helpful Review? 3 People Have Voted

Posted on Jul 26, 2018

Don't waste your time

By Therese K., Harrisburg, PA, Verified Reviewer

Credit hit, $200 gone, and when asking about the decision, David hung up the phone! I should have known better. Did, in fact. He called, talked fast, sent all of the paperwork, had the house assessed, "you're approved." Credit attacked, promises made, and when I called to see what the problem was, got hung up on. What makes it so egregious is that I told him up front I would not qualify and then fell for the okey-doke. I don't claim to be a victim, but those of us who are just trying to do better need to hang up the phone on the Davids who snow you over. I would not recommend Loanpal to my worst enemy, let alone any level of friend.

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

Helpful Review? 6 People Have Voted

Posted on May 2, 2018

Do not use this company!

By J. Lamason, Florida, Verified Reviewer

We just refinanced with Loanpal, were told they don't sell your mortgage, but THEY DO! Our mortgage was sold to Wells Fargo, the worst financial institute ever.

Apparently, these two go hand and hand. Sneaky, unethical, and dishonest!

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

Helpful Review? 6 People Have Voted

Posted on May 1, 2018

Loanpal said yes

By Philip G Collins, Texas, Verified Reviewer

During the last year, I wanted to refinance our mortgage. Accordingly, I contacted several lenders who were reported and recognized as leading lenders in America. The lenders, on my initial contact, were very eager and friendly to gain my business. However, after time was spent gathering needed information, every lender I contacted eventually told me, based on my historical information and Texas law, that they could not do the refinance. They told me I should wait several more years, contact them again and they would be glad to reconsider.

On March 5, 2018, I received a call from Kenny Nguyen, who is with Loanpal. The call was regarding my earlier efforts to refinance our mortgage. What became obvious to me about Kenny, not only was he very friendly, but he listened intently to my situation, both past and present. And perhaps more important to me, he did not scare of the situation, did not say no and did not go away.

The law in Texas that all the other lenders told me was preventing me from refinancing my mortgage, Kenny knew about this law, but he was also more current on the law and knew it had been changed January 1, 2018, allowing me to refinance. I also appreciated that Kenny would answer every question I asked and very promptly. I did not have to leave a message and wait days for a reply and answer.

As the refinance process picked up, I communicated with other Loanpal staff who were just as friendly, prompt, and answered every question I had. We were approved and closed on our new loan thirty-three days after receiving our first call from Kenny Nguyen.

We highly recommend Kenny Nguyen and Loanpal to anyone considering mortgage financing of any kind.

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

Helpful Review? 2 People Have Voted

Posted on Apr 25, 2018

Loanpal delivered

By Shaun Matthews, San Diego, CA, Verified Reviewer

I am really happy with my experience with Loanpal. My loan officer was really knowledgeable and helped me pay off my bills and get a lower payment. It took a little longer to get the loan than I wanted, but that was ok. I will definitely recommend Loanpal to my friends.

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

Helpful Review? 1 Person Has Voted

Posted on Apr 24, 2018

Home purchase and refi

By Robert Jones, Sacramento, CA, Verified Reviewer

Working with Patrick was great. Not only did we purchase our house with him and he was great, he was on top of it the whole time. At no point did I feel like anything would slip through the cracks.

Very communicative and I always got ahold of him any time I needed. We even refinanced with him to get a better rate down the road since rates had dropped again. A great experience.

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

Helpful Review? 2 People Have Voted

Posted on Apr 24, 2018

Great experience working with Pat!

By Milan Patel, Sacramento, CA, Verified Reviewer

I am very satisfied with my refinance through Loan Pal. My loan officer, Patrick Jones, was very efficient. Very friendly and knowledgeable. I was able to take out a lot more than I previously had anticipated. Overall very pleased. I will defiantly recommend friends to Patrick.

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

Helpful Review? 1 Person Has Voted

Posted on Apr 24, 2018

Paramount Equity outstanding staff

By Anne Billingsley, Cameron Park, CA, Verified Reviewer

I loved working with the staff (Patrick Jones loan officer) at Paramount Equity. He was smart, knowledgeable, and efficient through the whole process of my refinance. And he was great to talk to. Refinancing your home entails a lot, and you want someone who can get you what you need in a calm professional way. I can’t say enough how it was great working with him.

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

Helpful Review? 2 People Have Voted

Posted on Apr 24, 2018

Excellent customer service A+++

By Marissa Romero, San Francisco, CA, Verified Reviewer

We did a 15-year loan with Loan Pal. The loan officer and processor were amazing. They exceed our expectations. From start to finish our loan took less than 30 days. All of our concerns were promptly answered. I have referred friends and family to refinance with them as well. The loan officer that was helping us was very thorough. Also, it felt to me like he really cared about what was best for my family.

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

Helpful Review? 2 People Have Voted

Posted on Mar 29, 2018

Loan Pal bait and switch

By Daniel Cathey, California, Verified Reviewer

Loan Pal aka Paramount Equity Mortgage (PEM) is a risk you should not take. You will be wasting a lot of time, money, and causing yourself undue stress.

I contacted PEM for a refinance. I spoke to Missy F aka Melissa Megan F. I was given an excellent loan scenario followed by a Loan Estimate (LE). I specifically asked several times, "How solid are these numbers?" or something very similar. I was told, verbatim, "This loan should only get better, based on the value of your house." Let's be very clear here, I was excited about the loan, and I wanted to make sure that there would be no surprises down the road. Missy supposedly "locked" the rates that day, which should have made the values of the LE fairly stable. I understand that prices can fluctuate a few $100 based on services, but this is not what happened. You can imagine my surprise when I ended up with a loan that was worse than Missy's pie-in-the-sky LE after my house appraised for a higher than expected value.

Over the course of two months, yes TWO months, after I was told that the refinance could be done within three to four weeks, I received no less than four different LEs, all with wildly fluctuating numbers. In every instance, when a document was requested, I usually got it to them within 24-48 hours. I practically had to beg, call every day, email constantly and even had to show up to their offices just to get some answers about what was going on with the loan. They had numbers on their LEs that apparently they were not even sure how they got there. How is this possible?

Loan Pal aka PEM was so inefficient in their execution of this loan, they blew a rate lock, which of course I ended up having to pay for. They also promised to pay for the appraisal, which ended up in the fees, which means that I paid for it.

Let's list the lies that I was fed, followed by the actual outcome.

Lie #1: You are getting a 0% of Loan Origination Charge with a total closing cost of $2,564.

Reality #1: After multiple wildly varying LEs, I ended up with a 0.625% Loan Origination Charge with a total closing cost of $4,358.03.

Lie #2: We can have this loan completed within a month.

Reality #2: It took over two months. We had to pay for a rate lock extension because they blew it.

Lie #3: I locked your rate today.

Reality #3: My rate was not locked on the day indicated by Missy/Melissa. I have, as of yet, to get a clear answer on when that supposedly happened.

Lie #3: We will pay for your appraisal.

Reality #3: I ended up paying for the appraisal.

Lie #4: You can make bi-weekly payments.

Reality #4: Closing documents state that partial payments are not accepted.

Lie #5: Your loan will only get better and the numbers presented in this LE will only get better.

Reality #5: My house appraised for more than expected and my loan got worse on virtually every measurable metric.

Please do yourself a favor. If you plan on gambling by allowing PEM/Loan Pal to provide you with lending services, do yourself a favor, hedge your bets. This means, go through this process with multiple lenders at the same time. The PEM/Loan Pal offer may be the best one, but they will not follow through. They will not be timely. They will not honor their word. When they start to mess around and miss deadlines or start to change their LEs, you can drop them and continue on with a reputable company.

I timed my refinance at a good time to get a great rate offer from multiple companies. PEM/Loan Pal had the best offer at the time, and because they were so slow, I ended up having to make a decision on the other mortgage company offers. After getting multiple reassurances along the lines of, "Don't worry about the numbers, we will fix them at the end. We will take care of you," I decided to go with PEM/Loan Pal. This was a mistake, and it ended up costing me in opportunity and real money costs.

PEM/Loan Pal will lie to you. They will offer you great loan terms only to change them at the end. Don't fall for it.

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

Helpful Review? 13 People Have Voted

Posted on Mar 24, 2018

Don't even waste your time

By Floyd Charles Cranford, Greensboro, NC, Verified Reviewer

I spent two months furnishing information to refinance my primary residence. This is a great example of a "bait and switch." They came in much lower than a competing lender (local credit union), but when it came time to close, they found all kinds of additional or increased charges they 'missed' initially. They said, "trust me, we will do you right." I dropped the other lender 'trusting' them up until closing. What was quoted as a credit of $300 at closing suddenly became a 'cash needed at closing' of almost $3000. People, this is a scam. Don't fall for it. Stay away!

I would not recommend this company, also known as Paramount to my worst enemy...seriously. I would go lower than one star if it would let me. "Trust me" (and you really can) you are wasting your time and energy for a terrible result. I canceled the entire transaction and found a local company.

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

Helpful Review? 9 People Have Voted
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