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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It has been a somewhat slow process, but this is expected as it's not up front, in your face, banking. We submitted the paperwork, provided what was needed and the process took off. We were asked twice more for further documentation, then met with the Notary Public, signed the papers and the financials were processed within a week. If you want someone to baby-step you through each part of the process, spoon feeding you status daily, this is probably not the loan for you. If you want a company you can trust to take care of the details for you, this is the company for you. The ONLY issue we had was uploading documents. Chrome, with 6 various extensions, would not let this happen. Not... Read More
They get zero stars. This has been the worse experience DO NOT USE THEM! I wish I found this site and read the reviews before Instarted my loan. I have their card and figured it would just be easier to obtain my heloc through them. I started on July 31. I have been in the industry for many years and know what I am doing so Immediately gave them all documentation needed. The service is extremely poor and not sure if loan officer dropped the ball or what but now on October 16 had to complain and ask to speak to a manager to see what is going on. They seem not to know what is going on and processors would say speak to personal banker then the personal banker would say speak to the processor... Read More
Well I have read these reviews and agree with every single thing they have said. We started 6 weeks ago we are nowhere near the end I’m sure and like others have said for example, the initial person put on my employment history some company that I never even heard of, on my application and when I called him on it he said I did it !! I never even heard of this company I’ve only worked for 3 companies my entire life and they made it 4. I actually like the loan officer I have now she seems decent but the underwriting is a mess. And I had received two loans from them soooo easy that’s why I went to discover but for HE?!? their interest rate is so bad I’m embarrassed to write it down here,... Read More
Although initially helpful, the process was drawn out for almost two months with a change in the terms. The document download portal was inconsistent not allowing all of the transmissions to be accepted online. The fax proved insufficient, so I resorted to mailing information. The communication by phone was virtually nonexistent and emails were answered 2-3 days later. I received the documentation in the mail for my signature and I called with questions to Ashley and she made it seem like my questions were irrelevant. She said it didn't matter about the paperwork although it stated that it had to be signed and returned by August 17. After I get an email from Christine saying she would... Read More
Deborah Richards NMlS ID 1523119 Discover home equity . Do not use her she our right ignores phone calls and emails and is also incompetent as she forgets what she has said previously to you if youre lucky to get hold of her. As I dont want to write out again my whole list of complaints I will just copy and paste what I emailed her. I need you to to get in touch with me via email and let me know an exact date and time this week when you will be available to talk. You have ignored several of my emails previously. I will be filing a complaint to NMLS and to Discover. Here is the basis of my complaint 1. You falsely stated the debt to income ratio percentage to me... Read More
We already have a Home Equity loan from Discover. The first time around was a nightmare. Then we decided to refinance. It took almost 3 months. The processor was incompetent. Always calling us for different forms. He would never give us updated information on the loan and the status. They kept telling us that it was still in Underwriting.. After we complained several times that person was fired and now we have another processor. All we wanted to do is lower our rate. So when we called they said that they are overwhelmed with loans and would get to ours. When they finally got to our loan there trying to tell us that our debt to income was above their guidelines. I think that they were upset... Read More
My wife and I are in our late 50's, retired, and have excellent income. We have owned many homes, and have acquired many different loans over the years, so have a good understanding of the process. We Started our loan process October 22,2016. Like the previous review, we were told six to eight weeks. Wanted all of our paper work filed immediately, which we did, we were approved etc. etc. Then the fun started! We were handed off to various loan agents who lied, pointed fingers at each other, stalled, claimed things were done, when they weren't, and never returned phone calls! When we call to try to talk to a supervisor, we are told a variety of things, everything from they've gone home for... Read More
Started the process for a loan on 7/25/16. Sent all the required documents then crickets. I have had to constantly follow up and NO ONE there has ever heard of returning a phone call. Every time I call to ask for a status they say they will get back to me and then I have to follow up a week later to be told they will get me another update. The reps have told me that my loan has just fallen through the cracks and they are super busy. Like it is no big deal. So FRUSTRATING!! Now here we are on January 26, 2017, still no loan and they just called me to tell me they were changing their loan offer but holding the interest rate. Too little to late. Closing my credit card account right... Read More
I started the process for a discover home equity loan on 26 September 2016 and as of 12 January 2017, we still have not gotten a closing date. When I initially applied, I was told by my personal banker that it would take approximately 6-8 weeks and it has almost doubled that. I cannot get an answer to when it might close, and no one seems to want to return my phone calls. I have now been assigned a different personal banker and also a different processor without an explanation as to why the changes were made. If you are not in a hurry and have several months to complete this process, then feel free to utilize this company.
I was so disappointed by the entire experience. I had to actually cancel my application half way through. NO follow up, NO communication...I literally had to call 3 people to get any updates, same questions asked by numerous people, documents faxed over and over. I would NEVER allow this kind of company to hold a mortgage on my home...RUN FAST!!