David D.
West Valley, UTMember since July 2019

Reviews (1)


    • Aug 7, 2019
    • Verified Reviewer

    Loanpal

    Not what we expected

    Overall Experience:

    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

    3 people found it helpful

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