ComplaintsforInspire Home Loans Inc.

• Initial Complaint

  08/30/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  We began our purchase in early August and were suppose to close on August 30. On August 29, 2024 at 12 pm they called and told us that we were now closing on Septemeber 3rd. They gave us multiple reasons but none the same from each call. Next they did not have closing numbers ready by August 30th so that we can review and we were told that they didnt feel an urgency to get it done since they were already late. They also have changed prices multiple times on August 30 and still will not confirm our closing

  Business response

  09/03/2024

  Thank you for the opportunity to respond to ************************ complaint.  It is my understanding that the closing had to be delayed because the appraisal was not available three business days prior to closing and ******************** opted not to waive receipt of the appraisal at least 3 days prior to closing.  Unfortunately, with short purchase times, such as this one, if the appraisal does not come back, we are unable to close until three days after providing the appraisal unless we have a signed waiver.  This is a regulatory requirement found in the Equal Credit Opportunity Act, Reg. B sec. 1002.14.  The opt out ******************** signed explains this requirement.  Although we have no ability to circumvent this requirement, we understand it creates a lot of frustration for our borrowers.  Because of this we provided a lender credit to ******************** to compensate for the delay. Again, thank you for the opportunity to respond, it will help us improve our communication regarding this particular requirement.

  Customer response

  09/03/2024

   
  Complaint: 22220772
  
  I am rejecting this response because: Inspire Homes repeatedly made it clear the reason for the delay was they didnt have paperwork done in time. We still had to sign paperwork on the original closing date, as well as 3 am on Tuesday Sept 3. When told about having to incur other hotel, food, and moving costs they said its not their problem. As well as telling us the delay which they knew would occur, they told us less than 24 hours before close. They received the appraisers email on Aug 20 and did not respond until Aigust 27 or August 28th. On top of everything else they encouraged us to participate with them because they offered appliances. The appliances they installed are not even full size. This was the worst experience weve ever had.
  
  Sincerely,
  
  *****************************

  Business response

  09/03/2024

  Dear ******************** - I understand you requested assistance covering your hotel and food costs in the amount of $1000 today.  I was also told you were given a credit of $750 on your closing costs to offset your expenses when you closed today. Since it does not appear that we clearly communicated during the loan process, we will send out an additional $250 gift card for you to use as you see fit.  As for the appliances, that was an incentive offered by the builder and I will share your comments with them.  Thank you for sharing your concerns.

  Customer response

  09/03/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  06/17/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  In May, my daughter submitted a home loan and was pre-approved and provided a closing date of the home. On the date for the closing the mortgage company redacted the closing. We provided all of the necessary documentation to include SF-50 and IRS transcript for three years vs. the two years that is normally requested for buyers in the same. The company is refusing to refund the amount or the honest money deposit as well as the inspection cost.

  Business response

  06/20/2024

  We are in receipt of your complaint and take all complaints seriously. We will research and respond shortly.

• Initial Complaint

  04/05/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am a first time home buyer, I was already pre approved, and on Aug 9,2022.. Paid a deposit of ********. Only thing missing was a document from social security. While I waiting for the documents from social security, due to a storm , receiving the documents took ****** than expected. ******************* my loan officer, cancelled my contract via vm. He never spoke with My realtor or me, he never emailed me or my realtor, at least giving us a deadline before he canceled. I have been reaching out since November of 2022, for a refund of my deposit, I was told it would be sent via check , it was sent, to them not responding at all Anymore. I demand a refund of My deposit

  Business response

  04/06/2023

  We have reviewed your file and have spoken with the Loan Officer and the Builder.  Due to the builder having the ultimate authority to determine whether a consumer should be refunded their ******* Money Deposit, we recommend contacting the builder directly for resolution.

  Customer response

  04/06/2023

   
  Complaint: 19899653
  
  I am rejecting this response because:
  The loan officer rejected and canceled the project . That payment did not go to the builder, it went directly to the loan officer as a deposit. Secondly who is the builder?? Why havent they refunded my deposit since the contract was canceled due to your loan officer.. 
  Sincerely,
  
  *****************************

  Business response

  04/06/2023

  To Sir or Madam,

  The contract was with home builder, Century Complete LLC in *******. Inspire Home Loans does not take deposits nor make a decision regarding the home builder's retention of deposits. A loan decision was issued to the consumer's secure loan portal per federal regulations. All requests regarding the return of funds should be relayed to Century Complete as they are the organization that received the deposit. Inspire Home Loans considers this matter closed as we are not the organization the consumer signed a purchase agreement with.

  Customer response

  04/07/2023

   
  Complaint: 19899653
  
  I am rejecting this response because: I shouldve been refunded a year ago, when the contract was canceled via vm.
  
  Sincerely,
  
  *****************************

  Business response

  04/13/2023

  Good afternoon,

  ******************* is an employee of Inspire Home Loans Inc. As previously stated,  Inspire Home Loan does not receive deposits. The screenshot provided was not to Inspire. Ms. ******** contract which she provided as evidence is with ******************** and shows the amount she paid them. We have no further comment.

  Customer response

  04/17/2023

   
  Complaint: 19899653
  
  I am rejecting this response because:
  Because the builder stated he sent the payment back to inspire home! 
  

  And inspire homes states they didnt receive anything from the builders. 
  where is my deposit , In thin air? 
  Sincerely,
  
  *****************************

• Initial Complaint

  06/07/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I do have a question to ask you guys and want advice/guidance.Currently, I am purchasing a new house in ******* from Century Communities. Seems like they are running their own mortgage company, and they are forcing us to use their own mortgage company. I got all the estimates from different mortgage companies and picked the one that is providing best customer service and rate. However, Century wanted us to open up the estimates to their own mortgage company and denied our mortgage company based on the statement in the contract saying "The consent of seller can be withheld in its ABSOLUTE discretion." I think, I should be the one who decides where I can lend my money from, not the seller. So basically they are denying all the mortgage company and forcing us to use their own mortgage company which is not fair for me and the other lenders. What should I do ??

  Business response

  06/17/2022

  Thank you for the opportunity to respond.  Your complaint appears to be with the seller rather than the lender as Inspire Home Loans does not require you to use Inspire.  There are contract provisions in the agreement you signed with the seller of the home regarding when you may change lenders, typically they do not permit lender changes within 30 - ************************************************************ a timely manner.   I spoke with the seller yesterday, and it is my understanding that they will allow you to change lenders since your home is not likely to close in the next 30 days, although that can change.  Hopefully, this resolves your issue.

• Initial Complaint

  04/19/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I went into century communities ************** in ******. I am a first time home buyer. I was already in process of pre approval with another loan company and the realtor told me that if I went with their lender they would cover closing cost. I ended up applying with inspire home loans. From there ***** was my loan officer and I was approved within two days. Because they were still in the building process I had to put a holding deposit down on lot. I also had to put a deposit down for the solar panels that I purchased for the home. Total amount $7,879. I went months with out hearing anything from my loan officer. In between the months I had signed my title from the escrow company. I had received a call from my realtor stating escrow had closed. In my mind this meant my prices would not change. In April I decided to reach back out to my loan officer just to be sure nothing had changed with my loan. ***** got on the phone with me and let me know my payments had went up by almost $700 due to interest and miscellaneous fees. I asked her why she would not have given me the option to either lock in my interest rate or at least keep me updated to changes and she replies that no one was wanting to pay to lock in anything. She did not educate me as a first time home buyers instead she with held info so I would pay more to my Loan. She discriminated against me she a joint account with my mom. Stating to the builder I could afford it I just dont want to. Now the builder is keeping my deposit. I do not have a home. They are selling under false pretense. I finally reviewed a new loan estimate and everything was different with no exclamation.

  Business response

  05/06/2022

  First, I apologize for the delayed response to your attached letter, I am not sure why this went to our GA office.  As an initial matter, Inspire Home Loans does not have her escrow money and therefore cannot refund it.  The escrow deposit was paid to the builder of the home as is standard for the construction of a new home and it is our understanding that the parties entered into a mutual cancellation agreement pursuant to which, a portion of the ******* money was refunded.  I believe the sale was supposed to close in June if the home was finished.
  
  Regarding the disclosures that were sent to Ms. ********* the initial disclosure was sent in Jan. for a loan amount of $459,791 on a home sale of $483,990 with a principal, interest, taxes, and insurance(****) payment of $3068.  Per her own comments, she added solar panels, so when the loan was redisclosed in April, the sales price and loan amount increased.  The new sales price was $498,385 with a loan amount of $470,000.  The **** payment on this loan estimate was $3389.  Despite the increase in interest rates and loan amount, this represents an increase of $321 not $700.  We do not understand her comment about discrimination because of a joint account.  She was approved for the loan, provided several incentives and ultimately decided to decline the loan and terminate her contract to purchase with the above mentioned agreement to refund a portion of the ******* money.
  
  We understand that many borrowers are anxious because of the unusual conditions causing rates to rise, unfortunately, her requested refund is not ours to give.
  

  
  

• Initial Complaint

  03/16/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  We are building a home with Century Builders, who partners with Inspire Home Loans. Based on the advice of Century, we submitted a request for a home loan with Inspire. Our initial loan advisor would not respond to emails or phone calls, and after 2 weeks we noticed that the loan advisor name and contact information changed in the online system. We contacted the new advisor, and our loan had been passed over to her. ************************* was initially helpful and proactive in communicating with us. On 2/21 we received an email from her letting us know our loan was approved and to reach out "any at time" to lock in our interest rate. We went online immediately for a copy of our loan approval letter, but the letter didn't show online until 2/22. We responded to ******** email within an hour of receiving it saying we wanted to lock in the interest rate. We didn't even know what the rate was yet, but we knew we wanted to lock it in as early as possible. Opening the approval letter on 2/22, it referenced an interest rate of *****. We continued to reach out to ****** regarding locking in our interest rate. I had one brief phone conversation with her on 3/3, and she said she would send an email with all the instructions 'within the next 30 minutes'. We received nothing, and after several more voicemails and an email asking when the information would arrive, ****** sent the email with a new interest rate of ***** and the instructions. I called immediately, and ****** told me several times that the rates had *not increased*, but could offer no reason why they were now offering a rate that was a full 1% higher than the previously provided rate. Her only response was that the interest rate in the loan approval letter was referring to an 'old rate', not an offer of that rate on 2/22, the date of the letter. Her manager was supposed to reach out, but we have received on contact. I continue to leave voicemails.

  Business response

  12/15/2022

  We did not receive this complaint until last week. At this point a response is probably inappropriate because this loan closed back in June of 2022 without additional comments. ******** completed survey in September and did not raise this concern or any other concerns.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩