Discover Home Loans Review
70 Customer Comments & Reviews - see all comments
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Discover is an Illinois-based financial services company. Founded in 1985 by Sears, Discover is now an independent corporation that offers banking and financial services, including home equity loans and mortgage refinance loans, to individual consumers and businesses.
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70 Customer Comments & Reviews
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Won’t use Discover Home Equity loans again. Not only my interest rate was incredibly high, I was one day passed the 10 day payoff date so they said. I had to pay another day of interest. Even though the check was dated within the time frame. Didn’t matter. Probably someone overlooked the check and didn’t process it in time. Yet paying the142.68 was in collections. Never late, I was on the phone being passed back n forth from collections to customer service. Then the wonder why the check was t processed in time. 10.99 interest with a credit rating of 720. Don’t use them.
Worse Company that does HELOC loans. Wasted weeks of my time and many agents didn't know their loan guidelines. Wish I could give them a 0.
This is by far the absolute worst Company to apply for a Home Equity Loan. You are assigned to a processor and a banker and they do absolutely nothing except prolong the approval process with erroneous requests or information. The team is lazy and it’s clear they do not care about processing loans. I have never experienced such poor customer service. You are better off taking your business elsewhere. It will surely save you a great deal of time.
Cancel my loan called them gave them my loan id is 101001200 then they te they could not find my loan number im stopping my i will just going to bank for loan so i can keep an eye on it the guy was very helpful then i looked down some the pages my loan was 35000 and they had it at 25000 im paying 80000 for 35000 thanks any i will notify lifelock if something hinky is going on
I would give them zero stars, if it were possible. Back in August they credited my payment to a wrong account, and as a result started a collection process against me. Even though I submitted a snapshot of my banking statement clearly showing that the payment has been collected by the Discover Home Loans, and then followed it up with the payment trace info number, company ID, as well as the name of the intermediary, they still claimed that it was insufficient to locate the payment. Accordingly, I was being bombarded with threatening letters and harassing phone calls. A few days ago, I've received an apologetic email stating that they've found the missing payment and have applied it... Read More
I would give Discover a -5 if I could. First of all, they recorded my Deed of Trust incorrectly (with an address of a house I owned previously), the made me run through the hoops to even talk to anybody. What should have taken a week took a month. And then finally, they refused to remedy the error that THEY made and told me to correct the deed I would have to hire a lawyer. Worst. Company. Ever..
Even with an near perfect credit score, low debt, and annual salary near the amount I was looking to borrow, they still dragged their feet, had me dealing with at least 5 different people during the loan process, sent emails and mailings requesting information already submitted, and ultimately totally wasted one month of my time before I was forced to cancel the loan myself. Hopefully others will look for reviews before applying -- steer clear of Discover Home Loans.
Reading the comments just on the first page tells me this 4.5 star rating is absolutely false. I have purchased and refinance mortgages over 12 times in life and this was the ABSOLUTE worst experience ever. Discover staff lie to you, they constantly request additional items, they take months to do what others do in 4-5 weeks, take weeks after closing to disperse funds to your account, and have the strangest requirements (like contacting my HOA to have them purchase and show some sort of liability insurance that no lender ever needed before) ... If I had to do over again I WOULD CHOOSE ANOTHER LENDER!!!! With credit scores in the 800's I cannot believe everything we went through.
My husband and I refinanced with discover 5 months ago. At that point in time our property taxes and insurance were supposed to be added. They were not I am still having to call once a month to try to have my property taxes added II did I had to pay them myself the 1st quarter. Every time I call I get a complete run around. I stayed on the phone the last month that I called to make sure that they received the bill they confirmed with me they had the bill and that they would take care of it and any late fees associated with it. My property taxes were due in August . I see that they're still not paid so I called back again. Now waiting on approval because they're delinquent! Not delinquent... Read More
Discover loans is horrible if you want to pay off principal early . I was told after a $10,000 early payment that I had to request a "recast" to decrease my interest payment. Then they told me they weren't granting recasts at this time. So I'm paying interest on higher principal . seems illegal to me.