Reviews (1)

The refinanced loan was easily obtained and scheduled for closing; however, I was not pleased that I didn’t get the $1000 “Loyal Customer” money applied to my closing. I was told that that money was only for those who received a new loan, not for those who refinance the loan (I could have received $1000 forgiven in closing costs from another loan institution).

Also, it is advertised that they distribute funds within 3-5 days. It took them 8 days (6 workdays) after closing to pay off my old loan, causing me to have to make another payment on the old loan because it was auto-debit! (They said they will write me a refund check for that payment, but when?). So much for having a “free month” with no payment! They explained that North Carolina requires a longer time to process the loan, but that information was NOT DISCLOSED. In fact, the entire closing contract was based on a payoff before the end of the month, not into the next month.

Another thing that may be an issue for those who haven’t closed on home loans before, the closing agent is simply a notary. All they are there to do is to notarize your signatures and they will not explain anything to you, nor will they answer any questions. If you have questions, you will have to call someone while you are trying to close on that loan.

So, basically, it is easy to get the approved loan (with excellent credit and all documents needed), easy to get to closing, but don’t count on the 3-5 days to get your funds distributed. Also, be sure to get all your questions answered before you get to closing.