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HFS Financial
- Personal Loans
- Reisterstown, MD
About this business
Location details
100 Owings, Ct #13, Reisterstown, MD, 21136, United States
Get directions| Weekday | Schedule | Status |
|---|---|---|
| Mon | 9:00 a.m. to 7:00 p.m. | |
| Tue | 9:00 a.m. to 7:00 p.m. | |
| Wed | 9:00 a.m. to 7:00 p.m. | |
| Thu | 9:00 a.m. to 7:00 p.m. | |
| Fri | 9:00 a.m. to 7:00 p.m. | |
| Sat | 9:00 a.m. to 7:00 p.m. | |
| Sun | 9:00 a.m. to 7:00 p.m. |
After experiencing the same denial as others on this review board, I strongly suggest that this company is looked into. I called them several times trying to find out where my loan status was in the process of being reviewed and received no phone call back. If they would update the online portal accordingly, I would not have had to call. They told our pool company that the loan would fund within 3-5 business days, but we had not even discussed the final rate. Our contractor started preparing everything and we did not know ou... read more
They shared my financial private info to my contractor! I didn't authorize it.
Business response:
Hi Lori, When you submit a loan inquiry via the HFS platform you agreed and authorized HFS to keep you and your contractor abreast of loan updates as these are home improvement loans and it is important that all parties involved are aware of the timelines and status of the loan. This is done as a benefit to consumers and home improvement contractors. It is quite a standard practice throughout the home improvement loan industry.
After 2 months of back and forth, and my last two years of business and personal tax returns, I was denied. No explanation, but I think its because I criticized the loan process and told them this was the last time I uploaded the same docs a forth time. I'm surprised this inept company is still in business. **** financial got me approved in 4 days with less tax returns and just off my W2 income, and they give a discount for veterans. If you are reading this, I'd suggest you start with ****, and use HFS last. If HFS is you on... read more
Business response:
HFS would certainly never cause a denial of a consumer due to them criticizing the loan process. HFS assists tens of thousands of homeowners a year in financing their home improvements. We are not able to successfully get all consumer approved and funded and based on verifications pertaining to identity, income, homeownership, and more, occasionally stipulations are added to a loan request.HFS takes pride in customer service and an unwavering focus on fraud prevention.Your orignal loan inquiry in August was canceled at your ... read more
My first loan application I was denied due to collateral requirements when HFS advertises no equity needed. I was convinced to apply again and was declined due to not being able to verify home ownership even though all the requested documents were submitted. Absolute waste of time.
Business response:
Hi Larry, The HFS platform does have certain requirements to verify homeownership as these are home improvement loans. For many of them, homeownership is required.
They do run your credit and they denied me without even a follow up question and I have a 760 credit score. Do NOT waste your time!! My husband applied as well and was told his ratio income to debt ratio was off. We both make over $100k each and his credit score was 790!!
Business response:
Hi,If you have submitted a loan inquiry and you have questions about a loan qualification you can contact us to see if we can provide more clarity or a different resolution, but we have no record of you attempting to contact HFS subsequent to a loan submission. We can be reached at800-254-9560 or via info@hfsfin.com800-254-9560 o800-254-9560800-254-9560
I’m extremely disappointed in the way my loan request was managed. First they do pull your credit so be aware of it. Second they are not veteran friendly. When it comes with the debt to radio income they don’t do the math correctly because they add taxes and they completely ignored that our compensation retirement payment is NO taxable. It multiplies to 25% making affordable in my case to pay what I requested. My score was over 780 but my loan was denied. I regret to follow my contractor recommendation when I already had mor... read more
Business response:
Hi Doris, We appreciate your feedback and love and respect our veterans. We are not a mortgage shop, so we do not have veteran specific loans like a VA mortgage. The loans we facilitate on our platform are personal loans. In this industry, something like a government backed VA mortgage does not exist. We also have standard protocols to gross up certain non-taxable incomes. If we can add any further information as to why you were unable to get funded on the HFS platform, please let us know.
We started off by applying online. They were 1 of 2 finance companies the pool company suggested. Of course, like most loan place the "sales" guy calls immediately.... Jason S**** was good. Explain everything rates, get the application going now to lock in rates. After that we got the email to upload documents and that processing would take over. This is where it all went south, and some of this is on us as well. We now are working with Jeff P**** the processor. We uploaded all the documents the site asked us to. They were r... read more
Business response:
Unfortunately, we cannot accept homeownership verification by speaking to someone over the phone. We appreciate your feedback and certainly hope you were able to find a loan that best fit your needs.
We needed a pool loan and reached out to Eddie at HFS in May 2022, and he said he could finance at 6.7% and the process would like 2 weeks. He suggested we wait until we are closer to starting the pool construction. We reached out again to HFS on 6 Sept 2022, speaking with Jay. He said the rates had gone up to 7.7% but had to apply today to ensure the rate did not go up anymore. I asked about a lock, he said there are no locks, but once they get the application, they will keep the rate during the process. We quickly applied ... read more
Business response:
Hi Araveli, We are glad you were able and chose to secure funding via the HFS platform but are sorry to hear that you have concerns post-funding. By the way, those remarks you note from BBB are auto-generated to let you know how your comment was classified and not based on any response from HFS. Pertaining to your specific comments HFS charged a fee on your funded loan. It is not a fee that is charged and then sent to the highest bidder. We are sorry to hear that rates went up but as rates have gone up in all lending vertica... read more
My experience with HFS was poor, at best. I wanted to use them for a pool loan. The company was recommended by the contractor. I applied online with HFS and their initial response was quick! I thought that was going to be a good sign that they can move quickly with these things. That's where I was wrong! After the initial approval of the pool loan, we promptly provided them the documents needed for underwriting. Then everything stalled. After three weeks I reached out to our loan processor and was told that underwriting is t... read more
Business response:
Thank you for your review of HFS, We are sorry to hear that even though you initially accepted the terms of the loan that the time for funding was insufficient. Congratulations on securing your home improvement loan and we wish you the best of luck.
Frequently asked questions about HFS Financial
How is HFS Financial rated?
HFS Financial has a 4.7 star rating with 2,480 reviews.
When is HFS Financial open?
HFS Financial is closed now. It will open tomorrow at 9:00 a.m.