I had a super experience with my refinance with Greenlight Loans. Just sitting on her desk, apparently. On my fourth acct rep, so far. In fact, with a dedicated mortgage professional at your side every step of the way, Greenlight Loans even claims that you can obtain a pre-qualification letter the same day you apply. The refinancing was one of the most worse experiences. I only found out the reason they wanted me to after running in circles, and my demands for an explanation.
Greenlight loan wouldn't accept because the date was not written in box but under it. Even though the date was by my name, signed and dated by notary. Also CA does not require marital status for quick claim deed. Greenlight then wanted marital status resend with my name on quick claim deed/5(82). Greenlight Financial will base the interest rate as well as the mortgage amount on your credit history and your ability to repay the loan. While they are willing to work with people with less-than-good credit, their program is generally designed for people that can easily qualify for a mortgage. Greenlight Loans Reviews 8 Consumer Reviews Greenlight Loans is a new mortgage and refinance lender that claims to provide customized loans, fast approval /5(8).
Sign up for HighYa newsletter and get our best content delivered in your inbox as well as 3 free eBooks to help you save money and shop smarter. Enter your email below to get started! I started the refinance process in October of It took two weeks to get the appraisal to show up and one month just to get the appraisal report back, and I had to actually track him down and pressure him to send the appraisal report.
After several months of constant document request and repeated requests for the same documentation, I got a closing date of February 14, , which was five months after we started the refinance process, but wait, two days before the closing date. I received an email that said I needed to provide additional documentation, and all those additional documentations were duplicate request and they already had them on file.
This was the most frustrating process I've ever dealt with. This company shouldn't be in business. They are very unprofessional, liars and incompetent. This is a total scam, so don't believe a word of what they say. No, I would not recommend this to a friend. Do you have an account? Log In before commenting. We are so happy with how fast our loan closed. All of the people involved were super nice and did everything to satisfaction. We had nothing but hassles and problems with Greenlight.
They had almost 7 weeks to process our loan to meet the closing date they knew about. They were late on meeting our closing date which then created a mess for us. Of course she did, the loan has since closed and they have their money.
So why worry about an unhappy client? I would not recommend them to anyone. They are not professional and are disrespectful. They don't have a clue about how to do business. The refinancing was one of the most worse experiences. Now that they have a payment, they said they needed to close the loan but it closed without it and now I can't get the overpayment back. Ryan Pefley and Shannon E failed to tell the truth about closing our loan. Do not waste your time with Greenlight Loans.
I have a high credit score I pay all of my bills on time, with years of proof by that score. They offer a wide variety of conventional, adjustable and federally insured loan products to the consumer. Greenlight Financial also offers no closing cost loans while retaining their low interest rates.
Mortgages are available in 15 or 30 year increments. Greenlight Financial will base the interest rate as well as the mortgage amount on your credit history and your ability to repay the loan.
While they are willing to work with people with less-than-good credit, their program is generally designed for people that can easily qualify for a mortgage. Greenlight Financial offers very competitive refinance rates on all types of loans.
The final mortgage interest rate will be based on credit approval and the value of the home. Greenlight Financial offers no-closing cost mortgage refinancing, and in many cases can streamline the process into a very short time frame. On average, Greenlight Financial loans take half the time of other mortgage processing companies. Greenlight Financial will require that your home is appraised before finalizing any type of refinancing. This appraisal will include the interior and exterior of your home as well as a field appraisal of the surrounding neighborhood.
What this appraisal does is provide an overview of your property to the lender so they can determine the security of the loan. At this time, Greenlight Financial does not offer any type of home equity lines of credit. So, yesterday September 29, six days after I signed closing documents, and believing that surely I must have funded and I could put that September payment I had been holding toward the repair on my truck.
My tires were old and slick and I was a danger to myself and others should a blowout occur. Discount tires installed my tires the morning of September 29th. The loan could not be funded because the funding agent noticed it was a 'cash out refi' and according the powers that be at Greenlight, the cash to borrower amount exceeded Government requirements for the state of Texas. I never asked for cash out! I just wanted to refi my loan. It wasn't my mistake, it was their mistake but guess who is suffering the consequences for their mistake.
I insisted they pay my payment for me, or at least grant an extension while they redrew the docs. And if you don't pay the payments like you are obligated to do, you will be 30 days late, it will go on your credit report, AND you will no longer be eligible for the loan!!
After 10 years of never missing a payment, they have destroyed in less than 24 hours, the very thing I have fought to maintain since my husband was killed. I have no other resources and the little I have in the bank won't cover the mortgage and even if it did, I would have nothing to pay my other bills, or buy groceries or gas! So either way I'm screwed! They said it wasn't personal!
Well, it's damn sure personal to me! And the manager had the audacity to ask me to please not curse! Guess what I said? Don't have a clue what they are doing.
Requesting the same documents multiple times. Don't know the process. Act like it's their first loan. Wish I had read the other reviews and picked another company. Called 7 different people at their company after I received an email to push the close date out a week no notice, just an email - all voice mail - took hours to get a return call.
Don't use these guys. Screwed up my closing. Had to reschedule the movers due to their incompetence. It is unfortunate to see all of the negative reviews regarding refinancing through Greenlight Loans.
However, I have a positive review. Kudos for two people, Ryan and Janice and all others that may have contributed in my smooth process during my refinance. I am a current Nationstar client and I must say, my refinance process was completed less than six weeks. I should have read the complaints submitted here for Greenlight Loans, as my experience resonates with the negative reviews posted here.
I went into a recent home finance a little naive, thinking our last refinance was a piece of cake different lender and all mortgage refinance companies are the same. Also, we haven't had anything negative to say about Nationstar mortgage and these guys are affiliated with them, so they have to be alright.
Well, not so much. In total I received over a dozen emails from underwriting that were proxied through our contact person, scattered over a 7 week period, asking for additional documentation in piece-meal format. The experience was comparable to working with someone who has never processed a mortgage refinance before and doesn't know in advance what to ask for.
The reason why they get one star for me is because the sales associate I worked with on the front end was courteous and professional, but the underwriting department did them no favors. At the end of the 7 weeks, I felt like I was no closer to completing the refinance process than I was winning the power-ball lottery. Dealing with Greenlight Loans was a poor experience, and I will never use them again or recommend them to anyone. My experience with Greenlight loans was absolutely positive.
He remained in constant contact with me throughout. This was a very smooth and simple process. Financed insurance for our company equipment, paid a very large down payment as well as an escrow payment.
Found insurance for a much better rate and cancelled the policy. I learned that we had to pay a 5. They call me to offer me coverage on my car. I respectfully said "I'm not interested. I keep saying "I don't want coverage. Saying "Good luck with your car when it breaks! I do not recommend them to anyone!
Avoid them at all costs! I am real estate agent located in the Summit County area of Ohio. You could imagine the traffic this property had when it went up on the market. Within 4 days on the market the property had over 11 offers well above asking price.
Greenlight then tells the listing agent to inform all agents with offers that they would be sending to Auction. To set the stage I have great credit and have owned my home for 10 years. In order to avoid an appraisal I wanted to take advantage of an offer from my current mortgage company to refi at a lower rate with no appraisal needed and little to no closing costs.
According to them it would be a simple process since I met all of the requirements. I also wanted to update my last name to my married name. The name change should have been a piece of cake since I was the only one on the original loan and I was not adding my husband to the new loan. After speaking with a local Real Estate Attorney, it would just require a simple name change affidavit with my marriage license.
Come to find out, the refi would be processed through a "partnered company", called Greenlight Loans. Long story short, I should have quit after the first attempt to close. However, I thought it was best to just power through with them since it was still a " Nationstar" company and it would allow me to avoid having to provide an appraisal.
My experience led me to deal with uneducated representatives, when it comes to real estate practices and proper protocol, that would have ended up with me having to pay a large amount in "gift" taxes due to something they told was required to change my name. They were unreliable and I felt communication was inadequate. Fees were not justified clearly and overall, it was a lengthy waste of my time that got me nowhere.
I know, I should have pulled the plug after the first attempt. They do not know what they are doing. Use someone you trust and go local! They already owned the mortgage.
Continuous resubmission of various paperwork. Asked question from a previous marriage that happened 25 years ago but my mortgage was only 15 years old. We had a drop ceiling that I took partially down for added zones for a new furnace.
We replaced the appraiser took picture and saw the ceiling tiles hanging down and wanted them completely removed. Once done they had to take pictures again. I had to pay for another appraisal. Took forever to schedule. You do the math. These guys need to change their name to REDlight loans. These people are just plain extremely bad news. How many closings have you been to where it took 3 months to get an answer I did, I did, I did suggest that I would put in more cash as a down payment in order to compensate for the income difference.
Three months on then it all came crashing in I have since got re-qualified and my banker doesn't seem to have a problem with my finances. In any event, lost money and precious time not to mention the house that I needed We had nothing but hassles and problems with Greenlight. They had almost 7 weeks to process our loan to meet the close date they knew about. They were late meeting our closing date that then created mess for us.
Of course she did - the loan has since closed and they have their money so why worry about an unhappy client?? They are unprofessional, incompetent, and liars! Stay away from Greenlight Loans! As a real estate agent, we try and help and direct customers to the best possible resources. Unfortunately this customer chose to use Greenlight mortgage.
After over a month the customer was finally fed up. The contract had actually expired and we did get it extended.
Of course the seller was extremely agitated and this did help spur on the buyer. I even had emails and conversations with this loan contact person. That is what we call, in our office.. I always try to encourage my customers to use someone locally. And they didn't deserve the 1 I had to give to submit this review. They had a real problem with telling the truth. I have been working on this refi for months.
They wanted me to pull the mortgage out of my trust, which I did and did a quick claim deed. This was notarized, prepared by my Attorney and sent to the recorder along with my preliminary change of ownership, doc transfer tax affidavit sent to assessor - county clerk recorder. Greenlight loan wouldn't accept because the date was not written in box but under it. Even though the date was by my name, signed and dated by notary. Also CA does not require marital status for quick claim deed.
Greenlight then wanted marital status resend with my name on quick claim deed. Still wouldn't accept and now want the entire copy of my trust. So they can prepare the deed themselves. My notary, Attorney and recorder's office says they are off the wall. They also would give me no price for fees title search or closing costs.
Now they have all my records, bank statements, tax and on and on. I have a fico score of over They want me to close my credit cards to get any money for cash out.
I have had theses excellent credit cards for 20 years. Not even a great rate or lower monthly 98 dollars reduction and 4. I think I can do better and one that follows California state law. Watch out from this company. Think I will be using another company that offers a 3.