Hometown Lenders

Be very careful if you are considering dealing with this company. After hearing their commercials every morning, I called to inquire about a refinance for my house. Communication with my representative was fair to poor which was the first red flag, but I continued on with the process. On the day that I was suppose to close the deal they had a major miscommunication with their title company and the attorney. I was left high and dry with no phone call or effort on their part to get in touch with me to explain what had happened. After waiting several hours, I had to call them. I consider this a blessing in disguise. Upon comparing Hometown Lenders origination fees with other local lenders, I realized they were going to charge me 3 times the standard rate for origination fees (which is typically around 1%). That would have cost me an additional thousands of dollars. I guess they have to pay for all of their advertising somehow.
Jan 11th, 2013

Steer clear. Unprofessional and way too high pressure /sneaky. We had high 780+ credit scores & we pay off credit cards every month but this company was very pushy to get us to borrow more money than we needed and to purchase mortgage insurance which we didn't want or have to have for the amount we needed to borrow. They repeatedly assured us we'd be approved but then MONTHS later, we weren't b/c I hadn't been a job long enough. Additionally, when appraisal came in low, we asked them to submit a reconsideration and they "forgot" and it sat for weeks with no action until I had to call the appraisal company myself and request. Overall, a very bad experience.
Dec 11th, 2011