Discover Home Equity Loans Ratings & Reviews

Write Review
NMLS ID: 684042

Discover Home Equity Loans

(2.3 of 5) 7 Reviews

29% of our customers would recommend this lender.

About Discover Home Equity Loans

With Discover Home Equity Loans, you can borrow from $35,000 to $150,000. And you’ll have the freedom to use your cash however you need to – improve your home, consolidate debt, pay for major expenses like college or a wedding, or even refinance your...

Read more

Loan Officers

View All
Cloah Fay Phoenix, AZ
Casey Cassell New Castle, DE
Nicholas Sprague Phoenix, AZ
Karen Hoffman New Castle, DE
William Schmidt Phoenix, AZ
Kimberly Kolb Phoenix, AZ
View all

Customer Reviews

Write Review

7 Reviews

(2.3 of 5)
Review Breakdown
  • Lender Review
    from Lake Charles, LA
    (1 of 5)
    Reviewed:
    Loan Type:
    Home Equity Loan or Line of Credit
    Services:
    None - we connected, but I didn't move forward

    Very, very bad.

    Horrible experience. Very poor communication from them. Worked with them for about 2 weeks...requested same information over and over. Would not recommend them to my worst enemy! Also, because Lending Tree highly recommends this company, I will not ever use this service again either. Had 2 Discover Cards for about 20 years....canceling both of them due to this horrible service... Read More

    Was this review helpful?

  • Lender Review
    from Bogota, NJ Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Loan Type:
    Home Equity Loan or Line of Credit
    Services:
    None - we connected, but I didn't move forward
    Date of Service:
    June 14, 2017

    Waste of time, only lends to 69% max LTV

    Total waste of time, your house would need to appraise at double the value to qualify. Only lends up to 69% of the equity in the home. If you want your report pulled multiple times, apply for a home equity line here.

    Was this review helpful?

  • Lender Review
    from Prairieville, LA
    (1 of 5)
    Reviewed:
    Loan Type:
    Home Equity Loan or Line of Credit
    Services:
    I'm currently working with this lender

    WORST BANKING EXPERIENCE EVER!

    The WORST financial experience I have EVER experienced. Submitted initial application on February 2nd with all necessary documentation. Now I have been forwarded between 6 different departments, representatives, and constantly resubmitting documents and answering same questions over and over. It is now June 14th and another request from a "Senior Loan Processor" that asks me to email her all of my tax returns, mortgage statements and deed info (all of which has been submitted 3 times previously through their portal). Email? Still no closing date, Cant even answer if my rate is still locked, Wont even answer her phone. AVOID DISCOVER HOME EQUITY LOANS!!!!! There has to be a better loan option for you. Unless you want to wait 4 months to still not have a closing date, deal with a company with ZERO regard for your information privacy or security, and deal with the WORST customer communication skills of anyone outside of your local DMV office... Read More

    Was this review helpful?

  • Lender Review
    from Chino, CA
    (1 of 5)
    Reviewed:
    Loan Type:
    Home Equity Loan or Line of Credit
    Services:
    None - we connected, but I didn't move forward

    STAY AWAY

    What a disappointment. The communication this company offered was so below average, I don't see how they could possible rate even 1 star. My "personal banker" never returned emails or requests for updates, the "loan processor" never followed up, the few times she called, she asked for the same documents over and over. I ultimately withdrew my loan request, and cancelled my application-. I would NEVER recommend this company!... Read More

    Was this review helpful?

  • Lender Review
    from Choctaw, OK
    (2 of 5)
    Reviewed:
    Loan Type:
    Home Equity Loan or Line of Credit
    Services:
    Closed loan with this lender

    Known for missing closing dates!!!

    We chose discover for our home equity loan because of the lower interest rate and no closing cost. However, knowing what I know now we would not have went with discover. Our first personal banker we dealt with was Goran..he was great...any questions we had got answered in a timely manner whether it was via email or phone. Then our Loan got transferred to another person in the next dept....and that was a completely different experience. No matter if we emailed or called we never got any response...there was NO communication. I informed Discover from the get go that we had a closing date in 2 months...I ended up giving our first personal banker a call and immediately got a response..he got me in touch with a mgr who I voiced our concerns with about the communication. She followed up and got us the information we needed. As the time got closer and closer to our closing date I heard nothing...it was still being processed and they couldn't tell me if we were even approved...We have a fico score of 845....we only owe on a mortgage...no other debt. Finally we got word that we were approved but after the appraisal of our home the interest rate we got quoted went from 5.99 to 6.99. When I called to find out why they said that the appraisal of our home, which was a drive by, only came in at 190000. We pay taxes on 284000 house and land. So because someone drove by and missed the actual acreage we have we now have a higher interest rate. Then to make things worse we missed not one but 2 closings with our land. Luckily the people we were purchasing from worked with us but they definetely had every right to back out. If we had to choose a lender again we would not choose Discover...even though the closing cost was nothing...all the other hassle we had to put up with was not worth it. This loan will be paid off asap!!! If u choose discover ..give plenty of time for closing... Read More

    Was this review helpful?

  • Lender Review
    from Burke, VA
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Home Equity Loan or Line of Credit
    Services:
    Closed loan with this lender

    Great

    Very helpful, very fast, and very easy. What more can you ask for?

    Was this review helpful?

  • Lender Review
    from Waxhaw, NC
    (5 of 5)
    Recommended!
    Reviewed:
    Loan Type:
    Home Purchase
    Services:
    None - we connected, but I didn't move forward

    Best Company

    Best Company Out There!!

    Was this review helpful?

With Discover Home Equity Loans, you can borrow from $35,000 to $150,000. And you’ll have the freedom to use your cash however you need to – improve your home, consolidate debt, pay for major expenses like college or a wedding, or even refinance your current mortgage. We offer repayment terms of 10, 12, 15, or 20 years with $0 origination fees, $0 application fees, and $0 cash at closing. You’ll have a direct line to your personal banker, who will work with you every step of the way. Discover Bank, Member FDIC | NMLS ID 684042 | Equal Housing Lender.