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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Applied for a home equity loan. After waiting almost 8 weeks I find out they appraisal comes back insanely low. They just drive by and have zero information on your home as in upgrades and new items (such as the roof). Slow service and horrible appraisal used. At least come in the home or ask for pictures.
I took out an equity loan with Discover to pay off all my credit debt and have some cash to use on making repairs to my home. The process went smooth with no delays in the process. All the reps I spoke with were friendly and answered all my questions. I am totally satisfied with this company in taking out a loan.
I have had a Discover Home Equity Loan for 3 years, and never been late or missed a payment. However, when I recently tried to refinance my primary loan, the process was completely sabotaged by Discover Home Loans, who now for 3 months have refused to "subordinate" my home equity loan to the new lender (meaning the home equity loan takes "2nd position" behind the primary lender, which is SOP). Moreover, their communication is terrible, and the few times I have actually communicated with anyone they only say they are moving to a new system and things are slow. But in the meantime, I have lost hundreds, if not thousands, of dollars (not to mention many hours in emails and phone calls) in... Read More
We applied for a home equity loan on June 1. Our personal banker, Natalie, was great, and explained the loan amount, terms and loan process. They immediately sent us a request for documents online. We uploaded all of our documents right away. We had one hiccup, wherein one of the paystubs didn't show employer information so more verification was needed from employer regarding income. June 8, we moved to the processing stage. Our processor, Susie, was great and responded quickly to our emails and kept us informed with weekly emails. June 25 we received an email we were in final review. On June 29, we received an email that our loan was fully approved. The same day, we received an... Read More
On Saturday April 3, 2021 I applied for a Discover Home Line of Equity Loan. I completed the application online, and by Monday morning I received a phone call from Heather, my “personal banker. Heather asked me to confirm some info, and worked with my numbers to get my Debt to Income ratio to under 40% (which is their requirement to continue with the loan process. Since this was a consolidation loan against the equity in our home, my DTI % was easy to reach. After confirming the information on my application, she explained that I would receive an email with e-sign signatures needed, along with a disclosure with my loan amount, interest rate and other misc numbers. I needed to upload... Read More
After I wasted 2 months working with Discover home loans I can only tell you to avoid them and run away.!!! No words can describe the incompetence. I asked for a email to complain they told me they did not have such person that I could email - This is speaking to both Loan officer and Customer support and supervisor.
You pulled a hard inquiry without my permission - you guys have ZERO flexibility - I was willing to pay the original loan down to your 200K maximum at Close of escrow
not before !!
You SUCK !! I am glad to give my business to another lender at half of your rate
There's a reason I will never get a discover card, I don't need you !
No they harassed me so bad and for 2 months they kept asking for additional paperwork and I sent them my entire life I finally told them to forget it. It was ridiculous
bat none the WORST BUSINESS PRACTICES of any company that is in business. the reason for my harsh review: I had hail damage in March of 2020. My insurance company inspected the damage. Sent me a check for the damages. It was made out to me & Discover Home Loans as they have an interest in the property because they are the mortgage holder. I then had to endorse the check & send it to them for purposes of disbursement upon repairs being made. They made disbursements of several thousand dollars to me without verifying if they were even for the repairs . At the completion of repairs there was still a balance of several thousands of dollars owed to me. I made several requests to have the... Read More
Getting the Home Loan on my paid in full house was the easiest part of dealing with Discover. Trying to pay in advance has been nothing but a headache. I can no longer pay online and when I paid three months in advance at once, my monies did not get applied, but held until I called to see why my principal had not decreased. I have made four attempts to pay in advance just to be told on the 4th or 5th attempt, that "they" cannot accept payments if mortgage is paid 4 or 5 months in advance already. Refinancing as soon as possible, this is ridiculous, if you pay your bills in advance this is NOT the company to work with,