Veterans First Mortgage

Run to a Reputable Lender and Avoid Being Dragged Under

In my 30 years career as a Realtor, this is one of the worst closings I have experienced in MANY years. This loan has been under contract now for 10 weeks and still there is no Clear To Close!! Every demand for information from both the Buyer and the Seller have been met promptly and yet they keep coming back requiting more totally ridiculous minutia. Buyers are sitting in a hotel and Sellers are making vacant house payments. The loan officer will not return any calls and everyone involved in this transaction is suffering from the ineptness and incompetent skills on the part of this lender! No matter how many incentives this lender offers, RUN away and find a lender who knows how to get the loan closed! DO NOT Recommend this Lender.

Flag review

2 Years of Document after Document

After 2 years of supplying document after document – multiple times… after 2 years and four loan officers… after 2 years of being told, “I think we’re about done and we should be good with everything”, only to be sent another list of 10 more documents you want… WE ARE DONE!!
I have never experienced a mortgage lending institution that makes it completely impossible to obtain a mortgage… and for a messily $62k. Maybe that has been the issue all along. The lending amount is only $62k and this is a waste of time for your organization from a commission and profit return perspective.
We were reassured that before he left for deployment, this matter would all be resolved. Now, 2 days before he deploys you send another list of required documents that is impossible for him to get together while trying to prepare for deployment. So much for supporting those brave military folks that put their lives on the line to protect the freedoms you enjoy.

Flag review

Not quite as advertised

Preliminary information includes manufactured homes, but they really don't finance them. After online input, you get an immediate phone call from someone who can only verify info before connecting to a loan officer. Phone verification includes type of home, but still doesn't reveal they don't finance manufactured home. Then the loan officer gives you a great rate you can't have because they don't do VA on manufactured homes.

Flag review

Appraisal means nothing

Very poor and unprofessional service, not sure how there are so many 5 star reviews, that is not what I experienced. We were quite far into the mortgage process, Veterans First had the appraisal done, the property appraised for the loan amount. Then almost 3 weeks later their underwriter denies the loan, stating" the comparable properties were not close enough". So even though the appraisal they had done passed with flying colors, it meant nothing. The response from the loan officer was "we can't affect the underwriter's decision". There should be no reason it should have taken 3 weeks to inform me. Now I have to begin the process all over again. Unless you have no other options I would strongly recommend using anyone else.

Flag review

Why are they confused?

I am not a veteran. I am not purchasing a house that qualifies for FHA. These people did not understand that. They continue to call and ask if I have found a HUD home yet. I have already found my condo. I want to purchase it, not a HUD home. Three to four calls a day from these people is a bit much.

Flag review

Huge disappointment

We were preapproved and signed a contract on a home in November. We provided our loan officer and processors with everything they asked, including documentation from a CPA for my self employed income. We esigned our paperwork, paid $475 for a VA appraisal, and were under the impression that we were approved and our closing date was scheduled for Monday, Dec 18. We continually called to check in with our loan officer to ask if anything else was needed before our close date. Since we thought everything was ready for close, we gave notice to our landlord and ordered a moving pod which is now almost fully loaded with our belongings.
But then on Friday afternoon, Dec 15th, I received a call from our loan officer stating that we couldn’t move forward because the documentation from the CPA was insufficient. This documentation was given to them on Nov 21st, it was sent before we signed paperwork and before we paid for the appraisal, but they waited until the Last business day before our closing date to tell us this!!! So now we are basically living out of a moving pod! But this company claims they are looking out for Veterans!

Flag review

beware of your tax exemption

Contacted iFreedom had previously been preapproved but house I wanted had second mortgage could not accept offer. Located house I wanted called ifreedom
gave info. New loan officer wants to include taxes and then refund. 100% veteran and tax exempt should not have to pay interest on taxes that are exempt. Was told that is iFreedom policy. Vets with 100% rating in Texas have been exempt since 2009 for all taxes. Told them I would not allow are pay taxes especially interest on an exemption that I am allowed. They would not consider no other option except including the Taxes. Look elsewhere for lending on your home. They are not honoring vet benefits and certainly did not offer best interest rate. They are in business but not there to help the vet. Thanks

Flag review