Stafford Financial Ratings & Reviews

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Stafford Financial

(2.7 of 5) 19 Reviews

53% of our customers would recommend this lender.

About Stafford Financial

Staffordlends.com is unlike other mortgage companies... with 29 years lending experience, we’re experts in providing mortgage solutions on Texas properties only. Texas has special regulatory licensing requirements related to purchases, home equity and...

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Customer Reviews

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19 Reviews

(2.7 of 5)
Review Breakdown
  • Lender Review
    from Austin, TX
    (1 of 5)
    Reviewed:

    What a Disaster!

    (0) (0)
    Back in August 2015 I wanted to refinance, and after shopping around I decided to choose Bob Stafford because of his competitive terms, even though he had contrasting reviews. The experience back then was pretty good, he was responsive and he honored the terms offered, even though we closed much later than expected, since the initial borrower decided not to lend any more in Texas (his explanation)? We were not in rush to close, so no problem. Life can be unpredictable, so at the beginning of the year we decided to sell our house and purchase a new one. Once again I shopped around, and once again I ended with Bob because he offered the best terms. This time it was a DISASTER! We needed a fast close (applied at the end of April, needed to close at the end of May), and Bob ensured his lender was fast and he did not see an issue. I also disclosed that my wife was transitioning between jobs, and that she would start the new one after closing; Bob stated he spoke to the lender and that would not have been a problem. The application went smoothly until the Closure Disclosure (CD) should have been prepared...and issues weren't even brought to my attention from Bob, I learned about it from my realtor. When I called Bob for explanations on the delay and what we could do to get things moving he promptly blamed the title company, that in his opinion was not smart enough to provide the lender electronically with the information needed to prepare the CD…I saw the correspondence among the lender, Bob and the title company, I have evidence that also the lender and Bob did not do things right… The delay with the CD caused us to close on a Monday instead of the previous Friday, so I had to pay hotel stay over the weekend, pay the movers for overnight storage, and missed wage for the extra day I had to take off at work on closing day. Another example of how disorganized things had been is that the day of closing we signed documents at the title company at 10AM, and the lender finally decided to fund only in the afternoon because….well, I’m not sure why, it seems that the lender was trying to verify my wife’s employment the day of closing (according to Bob), even though we had been approved the week before!?! And in the meantime my wife and I were waiting outside the new house because the builder would refuse (rightly) to give the house keys until they got the funds…and I also had the movers waiting for us to open the house…. I gave Bob the possibility to do this right, but after I submitted him the list of expenses incurred because of the delay one more time he decided to blame somebody else, this time it was me…he stated that no lender would have approved us considering my wife was transitioning jobs, and he also said I did not provide him with an accurate timeline. One more time I proved him wrong, I told him step by step when and how I disclosed everything properly. Of course Bob Stafford can erase my name from the list of his client. I would NOT recommend Stafford Financial to anybody. ... Read More

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  • Lender Review
    from Highland Village TX
    (5 of 5)
    Recommended!
    Reviewed:

    Very Happy

    (0) (0)
    I was overwhelmed with phone calls and e-mails after I tried lending tree for the first time. After wading through all the figures, Bob Stafford presented the best scenario. Others actually said "oh no, that's not realistic....he won't be able to deliver". So I was skeptical because his rate was so much better than anyone else....even a company I had done business with in the past. In the end my husband and I chose to move forward with Stafford and are VERY pleased. Some things changed as we talked and he found out all my criteria, but he completely explained the changes, and my rate STILL ended up better than anything else I was quoted. I provided everything he needed quickly, and the process was smooth and painless. He kept me informed with phone calls and e-mails almost daily, and was quick to answer whenever I had a question. He never passed me off to someone else.....I always dealt directly with Bob....same person who started the whole process. He arranged convienient closing for us, and pushed all parties involved to meet MY schedule which revolved around minor surgery. We closed last week and funded exactly as promised. This was a cash-out refi, which means different requirements and rules, but I am certain if we had been purchasing a home, Bob would have had us close even quicker. I am happy, my husband is happy (hard to do) and we would recommend Bob and Stafford Lending to anyone... Read More

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  • Lender Review
    from Allen, TX
    (5 of 5)
    Recommended!
    Reviewed:

    Good rate

    (0) (0)
    I've shopped around multiple lenders and decided to proceed with Stafford for their competitive rate and cost. And they are willing to work out with their customers. I had many questions and Bob provided timely responses. There was one small hick-up towards the very end of the closing process because some conditions were different from what I have understood from our past communication. Bob was very patient explaining us the differences and making sure our concerns were resolved. Even with that last small bump, their rate and cost were very good. I'd highly recommend them to my friends... Read More

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  • Lender Review
    from Houston Confirmed LendingTree Customer
    (5 of 5)
    Recommended!
    Reviewed:
    Date of Service:
    December 6, 2013

    New Home Purchase 1/10/2014

    (0) (0)
    I chose Stafford Financial to handle the mortgage on my new home purchase and I couldn't be happier. Bob and his staff were great to work with. I had not bought a home in 17 years and had many questions. I called them many times to review information and make sure I understood everything correctly. The Stafford team was very patient and answered all my questions. They worked well with my realtor and the whole process went very smoothly. We were able to close on the original closing date and the final closing costs were almost exactly what was originally estimated. I was very happy with my choice and would recommend Stafford Financial to others... Read More

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  • Lender Review
    from Dallas,TX
    (5 of 5)
    Recommended!
    Reviewed:

    Delivered as Promised

    (0) (0)
    My wife and I refinanced our home through Stafford Financial in September. When I called to see what loans were available, Bob Stafford answered the phone. I explained my situation to him and he told me at what terms and how long it would take to close. . His rate was .25 - .375 (no discount points) less than other lenders for the same Fannie Mae loan. Closing costs were in line with all other lenders. Bob and his team (I worked with Stephani and Becky) were prompt in answering the phone and returning emails. We closed the loan in less than the 30 days at the terms Bob originally outlined. I would highly recommend Stafford Financial for help in procuring any home loan, either purchase or refinance... Read More

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  • Lender Review
    from McKinney, TX Confirmed LendingTree Customer
    (5 of 5)
    Recommended!
    Reviewed:
    Date of Service:
    July 29, 2013

    Very Happy with Stafford Lending

    (0) (0)
    I will admit, I almost didn't go with Stafford Lending originally because of the negative reviews here. Actually I originally did not go with Stafford Lending, but the first company I picked totally dropped the ball, and I decided to give Bob and Stafford Lending a try. They were great. I have zero complaints. They earned my business for life. There are definitely parts of the lending process that I hate, but none of that was Stafford's fault. I will do business with them again, and I would recommend them to anyone. I'm not sure why there are so many negative reviews. I can only assume BECAUSE they did not get a loan, they decided to leave a negative comment. Oh and on the subject of negative lenders, stay away from Texas Lending. I *did* have a really bad experience with them and their services a year or so ago. They are awful. Stay away from Texas Lending. You can find my comments on both Stafford and Texas Lending on Yelp as well... Read More

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  • Lender Review
    from Texas Confirmed LendingTree Customer
    (1 of 5)
    Reviewed:
    Date of Service:
    November 4, 2012

    Wasted Months

    (0) (0)
    I don't know how they stay in business. Started with them November 4th of 2012 looking for a jumbo loan. Rarely heard from them. Repeated emails in January to the lady who was handling it went unanswered. Found out a few weeks later she no longer works there. Gave them another chance to get this done. Kept getting told "it's coming out of underwriting this week". After another month went by and no response, I'd had enough. Went to my bank (Wells Fargo) and jumbo loan was done and closed in 6 weeks with the Wells Fargo rep providing me status a couple of times per week. I wasted 4 months trying to get this done through Stafford. Worst experience I've ever had with a financial transaction... Read More

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  • Lender Review
    from Texas
    (1 of 5)
    Reviewed:

    Waste of time!

    (0) (0)
    Stafford Financial refinance has been the worst experience I have had in the 15 years of being home owners. I have owned many properties (personal/rentals) and have never seen a company such as Stafford Financial with a chaotic unorganized mess. I have been very patient with this loan taking 5.5 months to close and even on the closing day the title company could not even get the payoff amounts right. They were $1,000 more than my actual payoff amounts. When I first went to Stafford financial (Lending Tree referral) I was told I would get a 15 years refinance at 2.81% and now because the loan had taken so long the new interest rate would be 3.25%. I have excellent credit and make a lot of money. This should have been a slam dunk, easy loan! I have been told that mortgage brokers will hold on and delay loans so they can package them together and sell them. I am not sure if this is true but it seems fishy. I wish I would have read other reviews before I tried to use this lender. I see so many of the same complaints. BEWARE of this lender! Aside from all of the time I have wasted on this and I am out $400 for the appraisal. I have put in a lot of man hours on this and over 30 emails. Such a waste of time. I would never use or recommend Stafford Financial for anything... Read More

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    All borrowers are not created equal – some have complex financial issues necessitating extra documentation and corrective actions to complete transaction. Whereas other lenders would have denied this borrower outright, we continued to work with him to complete loan under challenging circumstances. Borrowers do not stay with lender for extended underwriting period unless there are issues to be resolved to which they are aware, as was the case here, and to which he committed to continue with until resolution. This was a very difficult transaction due to borrower’s extensive use of cash transfers and the necessity of current compliance procedures to source all transfers. This self-employed borrower was very slow in providing necessary docs to complete requirements to clear his very complex financial structure, but we stuck with it. Yes, final rate ended up higher than initially contemplated due to market changes, but borrower agree to accept 3.25% rate comparative to lower rate options over 30 days ago in order to minimize fees. However, we actually bettered final terms to 3.1%, significantly lower than he anticipated for virtually no fees at all. Pay-off, of course, comes from his current lender over which we have no control. It was correct. Because borrower was so slow in providing requested docs, we actually paid for a 2nd appraisal out of pocket ourselves to complete his loan to remain in compliance. His comments about holding loans to make a profit? We fund in name of servicing lender at their pricing and can not profit in secondary market activity. In our opinion, we worked closely with borrower to resolve his complex loan issues to successful conclusion, provided the pricing support necessary to provide terms better than expected and with personal financial outlay as intention of good will. Borrower refused to close loan in spite of being offered a great deal with no willingness to consider any modification of terms to his preferences.
  • Lender Review
    from Texas
    (1 of 5)
    Reviewed:

    Worst Experience Ever!

    (0) (0)
    As several of the other reviewers on this site have indicated, the responsiveness and customer service from Stafford Financial was horrendous! Bob was very responsive at first (during the sales process) but once we were under contract and needed to close the loan everything changed for the worse. Multiple phone calls and emails went unanswered during critical periods in the process and they even hung up on my husband once. We were in jeopardy of losing our earnest money so I started the process with another broker as a back-up plan (a month after we started with Stafford) and thankfully they were able to get the loan closed. I requested a refund of the appraisal fee that we paid (twice) but of course they never responded... Read More

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    Loan was denied by lender due to borrower’s non-qualification for income. Their combined debt load with existing 2nd residence was too high to meet investor’s standards. Jumbo mortgages are portfolio loans with differing investor guidelines. Alternative solutions offered with other investors with more liberal approval requirements with high probability of approval, but borrower would not accept our advice to move loan to these investors because they insisted on pricing offered by the unattainable source only. Borrower offered not to post negative comments in exchange for return of appraisal fee which they authorized only after they had another approved loan in place. We spent countless hours trying to restructure loan to borrower’s and lender’s requirements, but both parties remained inflexible in their expectations and the loan could not be negotiated to both party’s requirements. With an e-mail chain of over 100 messages and countless daily phone calls regarding status, we always responded promptly to borrower’s inquiries same day. Unfortunately, lender guidelines vary between sources, and success can not be guaranteed.
  • Lender Review
    from Texas
    (1 of 5)
    Reviewed:

    Worst Exeperience Ever!

    (0) (0)
    As several of the other reviewers on this site have indicated, the responsiveness and customer service from Stafford Financial was horrendous! Bob was very responsive at first (during the sales process) but once we were under contract and needed to close the loan everything changed for the worse. Multiple phone calls and emails went unanswered during critical periods in the process and they even hung up on my husband once. We were in jeopardy of losing our earnest money so I started the process with another broker as a back-up plan (about a month after we started with Stafford) and thankfully they were able to get the loan closed. I requested a refund of the appraisal fee that we paid (twice) but of course they never responded... Read More

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Staffordlends.com is unlike other mortgage companies... with 29 years lending experience, we’re experts in providing mortgage solutions on Texas properties only. Texas has special regulatory licensing requirements related to purchases, home equity and refinance loans which many national lenders are unlicensed to provide. With a comprehensive variety of loan programs for all credit profiles and an established network of investors behind us, staffordlends.com will find the loan that best suits your needs at a very competitive rate. Whether you require assistance for a home equity 1st lien, 2nd lien for purchase, refinance or home equity line of credit, you can depend on staffordlends.com to provide the optimal mortgage solution for your family.