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    dsampson's Avatar
    dsampson Posts: 1, Reputation: 1
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    #1

    Jun 11, 2008, 04:14 PM
    Lend America
    What experience has anyone had with Lend America? I called the number and they promise an FHA loan at a very low rate and I explained that I have bad credit.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692
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    #2

    Jun 11, 2008, 04:23 PM
    Get an application and get that promise in writing.
    Loan_Guy's Avatar
    Loan_Guy Posts: 83, Reputation: 6
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    #3

    Jun 12, 2008, 09:16 PM
    Quote Originally Posted by dsampson
    What experience has anyone had with Lend America? I called the number and they promise an FHA loan at a very low rate and I explained that I have bad credit.
    They can promise you anything they want (or they think you want to hear). The truth is, until you actually sit down and sign the closing paperwork, they can just about do anything they want.

    If you want to try them, fill out an application. They need to send you a Good Faith Estimate and a Truth in Lending form within 3 days. If it looks good from there, ask how long the lock is good for. Make sure it is at least 30, if not 45 days and be prepared to close within that time frame.

    If it still looks good, hold them to those numbers and be prepared to walk away if they do not come through.

    LG

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