Discover Home Loans Reviews

Worst company. They drag you along for 5 weeks and then say no. The process for buying a home is easier than trying to get a Discover home equity loan. Most incompetent people. Avoid this company at all cost.

Worst place to get a home equity loan. Customer service has left the building. They don't care about your credit. They won't return your calls. They act like it's their money. You be better off going to the dollar store or walmart. I'm done with Discover Home Loans for life.

I wouldn’t consider this company when it comes to home equity loans. First off, my loan was pre-approved and went through the process. Carlos at the Arizona office had no clue when it came to emails. I’ve sent him a lot of paperwork that they required but then they want me to send it again and again. It’s the constantly stress of it all. They would tell you that everything is fine but make up stuff saying you're over this amount while it was their fault not giving us the correct amount being owed. They made this process long and unsatisfactory. They just rejected my application before closing which is unethical. I had provided them what they wanted but don’t want to listen. I would give them a 0 if it was available.

This process was unfair and disgrace. After pulling my credit from all 3 credit bureaus and asking 20 docs, I was rejected and given the reason by mail that it was due to my property type not eligible... When I called to learn more, they changed the reasons. The issue is with the condo building insurance doc. I was told that this went to the "fraud dept" and here it ended. No one contacted me asking anything. There was no fraud or anything wrong. Maybe they wanted a different doc and I misunderstood but no one followed up asking anything.

We tried to get a 2nd mortgage with Discover Home loans. We always had a good experience with their credit cards so figure why not. Well they requested more documents than I have ever seen in my life. I am self-employed and own two companies. My husband is a w2 employee. We worked at all the requested for months. They stated we were perfect for the loan. Our credit is in the 700’s. After 40 calls back and forth our banker said we looked great, she was submitting to underwriting. They denied us in about 1 day and claimed our debt to income was double what it is.

Discover Home Loans are a bunch of incompetent morons. I’m an over 800 credit score with a debt to income ratio of 24%. Sent them all documents requested. Only to have to do it 10 different times. While speaking to a different person every time I called. Was extremely frustrating. Don’t waste your time with them.

I provided them reams of documentation, had a hard credit pull, 700 credit score, and personal banker told me everything. Looks good. Five hours later check website saying declined and my personal banker will call... never did. Guess I will wait for the vague denial letter. Wasted my time.

From application to funding (including weekends and the 3 day cooling off period) was 16 days! Yes, just 16! I only had two brief phone calls (one within an hour of applying to go over information and a second to set up for a notary to come to me to close) but otherwise everything was completed on their portal which was incredibly user friendly. I have already suggested this option to a friend who mentioned she wished there was a way to get to some of her equity. Unlike another company that would charged and financed 5,000 in fees, Discover charged me $0!

I applied for a Heloc with Discover home loans. What a sham! I have over 290 grand in equity in my home and was requesting 60 grand for home improvements. My credit score is 735. My income is 220 grand per year. You would think there would be no issue getting approved! WRONG!!! After 2 months of sending re-sending and re re sending many different docs and getting different responses from different account reps I was finally told yesterday all was in order. This morning received an e-mail stating that my loan was not approved!! What a total disgrace the way this company works! Take a word from someone who wasted much time, much effort and many hours of effort! Stay away at all costs!!

I have been working with this company for 2 months now. They had received all the documents that they had requested from me and I was told the loan was approved then came back and stated because my husband and I only had one checking, we needed two accounts. They couldn't do the loan. We have savings and other accounts and the income was there but their requirements are two separate accounts. I'm advising to not waste your time with this company!!! Other companies can help you. :):):)