Home Loan Reviews Advertiser Disclosure

American Financial Resources, Inc

3.0 out of 5 stars
6 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

2.5 out of 5 stars

Customer Service

1.5 out of 5 stars

3 5
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Most Helpful Positive Review

Nov 18, 2016
Easy and quick
Anonymous Borrower

I got my quote and everything went smooth. Great communication and got my refinance done quick. 

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Most Helpful Negative Review

Dec 18, 2015
Completely botched my account
Anonymous Borrower

I have ranked them with one star only because I cannot give zero. My entire housing payment is completely botched up. I went online to make my monthly payment in November.  As a surprise, with no notice or explanation, the monthly payment due (mtge + escrow) had suddenly increased by $316.37.  I called, and they explained the increase was due to a change in my escrow, as my property taxes had "increased."  I called the City Assessor's office and the City Treasurer's office, both of whom told me that no such increase had occurred.  I relayed this to AFR, who called the City, confirmed this, and called me back to admit they had made a mistake.  Sounds easy enough to fix, right?  No chance.  I was told that a "new analysis" had to be done to correct the issue, which would be completed by "November 19th." Since then, I've had many phone calls, with many different reps, NONE of whom could tell me if/when the new analysis had ever been -- until today, December 18th, when a rep (finally) explained that the new analysis actually had been done back on November 23rd. No explanation as to why no one had ever told me this.  So, problem fixed?  Not so much.  Here's the rub: (1) my "new" escrow amount will actually be $1.33 LESS per month than my old one, and yet my "new" total housing payment (mtge + escrow) will be $149.32 MORE per month than my old one (what kind of math is this?!?); and (2) even though they admit they screwed up my escrow amount back in November, they say I still have to make payments for both Nov & Dec that are $316.37 MORE than my old payment amounts, only to have a "credit" added to the account and my overpayment "refunded" to be later (allegedly).  This is because their computer system will not recognize that an updated payment amount until January 5th (18 days from today!!!), even though earlier in the conversation she that that this normally takes 48-72 hours.  There are just no words to explain how dissatisfied I am with AFR.  I am not a fan of large banks and lending institutions, but I wish I were still a customer of CitiMortgage's, where there was NEVER a mistake made with my mortgage or escrow accounts, for the nearly 12 years that they serviced our mortgage.  I refinanced our home earlier this year in pursuit of a little better rate than Citi could offer, and ended up having the note sold by the mortgage broker to AFR. It took AFR less than a half a year to completely screw up my account.  I cannot recommend them, whatsoever.

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These reviews were written by current and former borrowers in the last year.

Nov 18, 2016
Easy and quick
Anonymous Borrower

I got my quote and everything went smooth. Great communication and got my refinance done quick. 

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Nov 04, 2016
Worst financing experience I've ever had
Anonymous Borrower

I wish I had read these reviews before doing business with this company. I implore anyone who reads this to NEVER DO BUSINESS WITH AMERICAN FINANCIAL RESOURCES. Jxxx Xxxxxxx is either the laziest or most incompetent person I've ever dealt with...and I mean EVER. He doesn't return phone calls or emails and shows no interest in getting things right. Similar to others, my loan processing was slow and painful. I wanted to refinance two homes, no cash out, 50% loan-to-value...should have been simple. It took three months to close, underwriting always needed "one other piece of information", which was never needed from me, always from some mysterious underwriter within the company. When we FINALLY got confirmation from AFR that they were ready to close, no one followed up to set a closing date/time. Instead, I get a call from the title company at 8:45 am saying they received funds on one of the loans and apparently we had an appointment at 9:00 am to close...the title company was just as surprised as I was. When we got to closing, the loan documents did not reflect a credit that had been agreed to previously and, even better, didn't include me as the borrower. Even though I had been the only person dealing with the company for three months, only my partner was on the note. All of the paperwork had to be redone, re-signed, etc. and, because of all the hassle, we closed without the agreed upon credit with the assurance from Jxxx that we'd be made whole after the closing. We are now nearly one month later and the credit has still not been resolved. I've started emailed Jxxx on a daily basis and will do so until I have a check in hand. This is a long post, so if you go this far, I will reiterate...unless you want to lose every hair on your head trying to get a deal done with these guys, avoid AFR like the plague.

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Jul 25, 2016
HORRIBLE customer service ever
Anonymous Borrower

The worst customer service service I've ever had in all my life, no one can solve anything, are you transferring from one department to another and nobody knows absolutely solve anything.

I have over 750 points of credit, and even then rose my interest!

Do not have account with that bank horrible!

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Jun 23, 2016
Great Rate and fast close
Tcostant Borrower

I’ve refinanced or closed on a loan five times in my life and this was by far the best experience recently with eLend (a.k.a American Financial Resource). I contracted eLend on May 3rd, 2016 I found them though a “Bankrate” search and there rate was better than anyone and tied with one other. I got estimates from each, while the rates were same eLend fees were much, much lower. When I was paying for the appraisal ($475), I was given a $200 closing credit just for asking for a lower amount. I was able to get the appraiser to come at lunch a few days later and received the final report a week later. The processing fee was also offset with a lender credit. In addition, the title fees quoted were cheaper than anything else I could find (and cheaper than three years earlier when I refinanced with Citimortgage). Sarah was my initial contract; she always returned a call or answered any question, just a pleasure to deal with. I also liked that eLend send out these emails as your loan moves to the next stage (Loan Disclosures, Send To Processing, Submitted to Underwriting, Underwriting, and Cleared to Close, & Close); this is great for anyone who in wondering what is happening. As my loan was about half way done, Dawn Yoquelet was the processor and my point of contract and she was most helpful, especially when my title fees came in $200 higher than my initial quote, she worked with the title company and got them to match the original quote. Both Sarah Harper & Dawn Yoquelet were a pleasure to work with, professional and just plain very helpful. My loan closed on June 14 and the funds moved a week later. I was able to lock in the rate of 2.625% for 15 years fixed (my credit union was at 2.875 with more fees). So happy.

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Mar 21, 2016
My experience was nice and smooth.
FBodyexpert Borrower

I can't speak for the other reviewer experiences on here or their loan officers. I used my own independent loan officer for a FHA purchase. They approved me when no one else would look at me. 622 mid score and I have a 3.8% interest rate. There was a bunch of back and forth with document requests but it happened fast. We closed in less that 30 days over the holidays. Even asked the closing date to be moved from Janurary 28th to the 15th and they were able to make it happen. Payments, and taxes were less than originally quoted, and they don't charge me for payments made online. It's only been 2 months so they haven't really had a chance to screw up yet, but so far I'm happy.

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Dec 18, 2015
Completely botched my account
Anonymous Borrower

I have ranked them with one star only because I cannot give zero. My entire housing payment is completely botched up. I went online to make my monthly payment in November.  As a surprise, with no notice or explanation, the monthly payment due (mtge + escrow) had suddenly increased by $316.37.  I called, and they explained the increase was due to a change in my escrow, as my property taxes had "increased."  I called the City Assessor's office and the City Treasurer's office, both of whom told me that no such increase had occurred.  I relayed this to AFR, who called the City, confirmed this, and called me back to admit they had made a mistake.  Sounds easy enough to fix, right?  No chance.  I was told that a "new analysis" had to be done to correct the issue, which would be completed by "November 19th." Since then, I've had many phone calls, with many different reps, NONE of whom could tell me if/when the new analysis had ever been -- until today, December 18th, when a rep (finally) explained that the new analysis actually had been done back on November 23rd. No explanation as to why no one had ever told me this.  So, problem fixed?  Not so much.  Here's the rub: (1) my "new" escrow amount will actually be $1.33 LESS per month than my old one, and yet my "new" total housing payment (mtge + escrow) will be $149.32 MORE per month than my old one (what kind of math is this?!?); and (2) even though they admit they screwed up my escrow amount back in November, they say I still have to make payments for both Nov & Dec that are $316.37 MORE than my old payment amounts, only to have a "credit" added to the account and my overpayment "refunded" to be later (allegedly).  This is because their computer system will not recognize that an updated payment amount until January 5th (18 days from today!!!), even though earlier in the conversation she that that this normally takes 48-72 hours.  There are just no words to explain how dissatisfied I am with AFR.  I am not a fan of large banks and lending institutions, but I wish I were still a customer of CitiMortgage's, where there was NEVER a mistake made with my mortgage or escrow accounts, for the nearly 12 years that they serviced our mortgage.  I refinanced our home earlier this year in pursuit of a little better rate than Citi could offer, and ended up having the note sold by the mortgage broker to AFR. It took AFR less than a half a year to completely screw up my account.  I cannot recommend them, whatsoever.

more ...
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