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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. |
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.
This company Misleads the consumer. I have a flier that is a m9nth old advertising a 2.99 interest rate. I call to inquire and was informed their rate is now 7.24. I have an 850 credit score and told them I am entitled to a better rate. When I asked about a better rate for those with excellent credit, I was told to shop around and they will beat it. So as I stared to shop around, they told me their rate was being raised due to the Fed meeting in 2 weeks. Crooks!
If I could give this company a 0 I would. My husband and I worked with Lon P***** Senior Loan Consultant at the begining of July 2022. He told us that we were approved and qualified for a 100,000 loan for a pool and home improvements. We uploaded every document that HFS requested and it took over a month to get to underwriting. By the time we got to underwriting our credit score dropped by 60 points each. Lon P***** is extremely rude ( he thinks he is being honest and straight to the point , however is really rude in how he ... read more
Business response:
HFS does not perform any hard credit pulls. Those are only performed by the lending underwriter at loan submission. We cannot fully comment on your statements above as this is a public forum and HFS has a responsibility to protect the private information of its applicants. Ultimately we are sorry to hear that your loan was not approved and funded however we feel that there is a miss characterization in your experience with HFS, we would be happy to speak with you further to address your concerns. We will review the correspon... read more
I contacted HFS for a swimming pool loan and spoke with Aaron ******** I was quoted a 6.75 % ( it was 6.something as I am trying to remember) and started with the online process. I submitted all the documentation before the required time frame. We waited on underwriting which took the most time. I called about an update and was told they were behind. We finally got approved and the rate had jumped to 8.47 %. I called and spoke with Adam (VP of the company) and was questioning why I didn't get the rate I was quoted. He said h... read more
Business response:
Thank you *******, we are not sure what the complaint is pertaining to as prior to final loan approval, your preliminary rate options did increase due to the loan program offering, and its' underlying rates increasing. We are here to serve our clients and are ultimately glad you found the loan that worked best for you. Thank you for your feedback.
DO NOT use HFS, if I could leave no starts I would. In the end the rate is higher than I would expect with two people having over and 800 credit score and then they charged us $1,800 that we were not told about, they just sneaked it in the final paperwork. They said they told us about a 3% fee but they never did. DO NOT USE THEM!!!
Business response:
Hi John, Congratulations on funding your home improvement loan through HFS. Any fees, as well as all loan terms, are fully disclosed to every applicant. We would be happy to speak to you to review this and show you where those disclosures are as we have proof to dispute your claim that you were not informed.
Don't use them. You will over pay. I have credit score over 800 and make six figures. That does not include my spouse who has the same credentials. I was quoted 6% and told that was the lowest I could get. Then took 3 weeks to get the contract which had a 9.8% not fixed rate. Their broker fees are approximately 2600.00. I was told the rates went up and you don't get locked into a rate until you sign the final contract. Luckily this didn't feel right so I reached out to another company that basically confirmed the HFS lied. T... read more
Business response:
Thank you for your feedback. To say you called another company and a competitor confirmed we lied does not make senes. After reviewing your file, you were conditionally approved for loan terms. During your loan process and prior to final approval, the loan terms changed as market interest rates had fluctuated. At that time you were approved for a higher rate, which you chose not to accept. That is of course your right. HFS boast thousands of verified 5 star reviews. We are glad you found the loan and services that worked bes... read more
Frequently asked questions about HFS Financial
How is HFS Financial rated?
HFS Financial has a 4.6 star rating with 2,551 reviews.
When is HFS Financial open?
HFS Financial is open now. It will close at 7:00 p.m.