I would not recommend this broker, nor would I ever use it again. From the start, we were pre-approved for the loan that we requested, and after that, everything went downhill. Apparently, later on we found out that the pre-approved loan that we asked for, had some requirements that must be met, but that's after the fact that we had put down our deposit on the house and really had no way out of it. The loan process was also delayed, which we were never notified of that when we were all under the impression that we will be closing on time. Everything came to a stop when we were asked to pay down our cars, a total of $ 12,000 which was not disclosed from the start of the loan when were were pre-approved and received the letter of approval. At that point, we were stuck. We had no other choice but to pay that. Than, as the agony continued, after signing loan documents, we came to find out that we still need to come up with $8000 out of pocket to close the deal, which was not disclosed to us AGAIN. We were told that escrow informed the broker of all the expenses 2 weeks prior to closing, by email. At that point, the lender should have advised me of that and increased my loan amount, in order for us not to come up with that money at the end. This should have been included in the loan, as it should have been increased. The communication and the service from the start, have been horrible. Everyone involved in this transactions from both parties, felt the same way. This was by far the worst sale ever for us. From day one when I asked for a per-approval letter, all the "surprises" that we had to pay out of pocket should have been disclosed to us. However, none of it was mentioned to us. I still have the pre-approval letter indicating that we were approved for $250k loan, based on ONLY my husband's income and the fact that we will only need to pay off our 2 credit cards. However, we came to find out in the middle of the darn transaction that in order for us to qualify, we would need to pay down our 2 cars, which was a shock to us! Not to mention the fact that we had to pay an additional $8000 out of pocket at the end, when we were not notified of that. From the start and I still have emails to prove....the 2 credit cards were going to be paid off through escrow when they receive the loan. Not once, were we told that we would still have to pay $8000 at closing, to complete this deal.
Again, this was the worst transaction ever! The lack of communication and the miss-information, were by far the worst! I would never recommend this lender to anyone. If anything , this lender caused us a lot of emotional stress that we could bare. Never again this lender.