Loanguys.com Reviews 

Initially when I spoke to my loan officer I was quoted a 14 day time frame as well as a specific interest rate ( below my current rate of 5%). After several weeks of going back and forth loan docs were completed 30 days later. At signing not only was my rate a lot higher but I was also charged $10k in closing, origination and misc fee's to write this loan. Had I not been in a situation that the cash out was already committed to another investment I would never have gone through with the loan. Not a very professional way to conduct business

I would like to thank Nate for helping us complete our loan. It was a tough process but Nate kept us updated each step of the day. Thank you all for your help and support. We definitely appreciate it.

I would like to say big THANK YOU to Shervin Modir. He was amazing with the whole loan process. He made sure I was informed at every step and made the process go smooth and quick. I would definitely recommend Loan Guys.

First the positive - Joshua, (our rep) was great to deal with, I lost count of the uncomfortable conversations that he had to make keeping us abreast of the lack of progress on the loan, I felt bad for him.
"As little as 2 weeks to close" or maybe more accurately, 1 day short of 3 MONTHS to close! After waiting a month and a half for the appraisal, they sent them to appraise our office rather than the house, causing another 2 week delay. The appraiser was absolutely clueless, using comps from 2 towns and over 7 miles away, when there were a TON of comps nearby. Assured all along that "the team" had everything ready to close once the appraisal was back, they then advised that they would need a new survey to proceed... yet another delay. Thankfully, my title company has a great rapport with the survey company they use, and it only added a week to the delay. Finally finished and ready to close, the lady at the title company that we've used for decades begged me not to use them again, she was asked to provide the same information 4 times before she refused and made them find it in their files, they remitted the wrong amount at closing, and still left her short $12 at the end of the day. The only thing they managed to do in a timely manner was add themselves to our insurance policy nearly two months before they closed the loan! With a credit score over 800, 75% LTV, a DSCR of 1.94, and a measly $125k loan, you'd think this would be an easy one!

I appreciate the hard work Henry and Jalil put into helping me get my loan.

Mike H has been critical in helping me close multiple deals in the span of 4 months. Mike is very knowledgeable and worked hard to get my lending needs met.

Great company

This company has promised a quick refinance on an investment property. I have had a struggle with them every step of the way. A couple of examples are that they said we were waiting on Title to approve everything and in reality we were waiting on closing paperwork from my 2nd mortgage. I was expecting to pay that off after closing but they required it done at closing. Not an issue, but if they had properly told me the requirements we could have gotten the paperwork beforehand. Instead we wasted about 8 business days waiting for something I was able to get in 24 hrs. Another example was as we were waiting for closing, I received an email that they needed my social security. Again not an issue, but I could have given to that in week 1, not on the last day. The last part of this that really irritates me is that we scheduled a notary to sign. I specifically asked if we signed in the morning, when would I receive my funds. I was told that I would receive them by that afternoon. The notary was supposed to come by at 10:30 on Monday. At 10:40 I texted her to ask where she was at, and she told me that they had not yet sent her the paperwork. We had to reschedule to 12:30 that same day. I was then expecting my funds by Tuesday. That did not happen. On Wednesday I was told they funded the loan at 7AM. I was then told that it took 24 to clear. Obviously something different that what I was expecting from what they said on Monday. It is now Friday, and I still have yet to see any funds from this refinance.

*Update
I received my funds about 30 minutes after this posting. A guy from the title clearing company called and explained that his company dropped the ball in the last week. This guy paid me back his fee because of this. I gave this review an extra star because of this guy accepted that me experience was not up to expectations. I still have issues with Loan Guys and basically the expectations they set vs what I was delivered. I will say though, they are a legitimate company, and if you are worried about them scamming you, that should not be a concern.

Addison did a great job in getting my loan funded. I would do it again !

Mickael was amazing! Great service! I just completed my third refi with Loan Guys. Highly recommend :)

-Ben

Excellent work on a hard to do loan

I appreciate your help with this loan which was easier to obtain than the other lenders. But the excessive closing fees and excessive penalty for early repayment was a little bit over.

It was truly a pleasure working with Edan. His communication is superb.
Thanks again Edan for your leadership.

They charged me for an $800 appraisal that never happened. Then they ghosted me and continued spamming me automated emails.

Edit: Names removed. Here is sequence of events, so people can decide what the proper rating should be:

I am in a debt resolution program. There is uncertainty of impact on credit. I was also going through conventional loan at the same time that appeared to be dead.

I was told to schedule an appraisal two weeks after scheduled signing date for conventional loan. That way, if it worked out, I can just cancel the appraisal. If conventional loan did not go well, we would then proceed.

Appraiser was inflexible and refused to schedule any further than 48 hours and told me he would push back to lender.

At this point, lender and appraiser reached an agreement to reschedule without my knowledge. As far as I was concerned, the appraisal was not happening. At this point in time, I had a previously completed appraisal the week before (from the conventional lender), and I asked if that was what they were using to close. I received no reply for five days before posting this review.

After this review was initially posted, I finally heard back from the lender and received word they will reach out to the appraiser regarding refunding my fee. I have opted to withdraw from the process entirely.

While all of this was going on, I was half expected my debt resolution program will kill the deal. I asked about information for future reference as I respected the lender up until the appraisal was scheduled and I wanted to provide future business if this deal did not work out. Because of the non response to my 10/13/2021 email, not only am I withdrawing from this transaction, I will not be conducting any future business with this lender. The appraiser gave me five minutes to finalize a decision on scheduling. I gave the lender five days without a response. They immediately reached out to me upon seeing this review, so they were clearly not too busy with other loans.

I am very happy that I worked with this company to help fund my investment loan. The whole process was smooth from start to finish and they did not disappoint. The fact that they were able to work with my FICO score and beat the terms I received from a different lender to earn my business was a huge deal for me. Extremely happy with their customer service as well.

Michael was nice but made some promises and gave us incorrect information multiple times . Also increased interest APR on us last minute right before closing. The loan process took way longer than promised. Besides that it wasn't the best experience but it wasn't the worst. Average lender and tactics

Josh and Lindsay were truly amazing . The title office and the realtor that I worked with said this was the fastest closing they have ever seen. Hands down! Thank you !!!

Addison and team were great !!!
job well done easy and fast .