About iFreedom Direct
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For 6-7 weeks we did everything they asked. They pulled our loan 2 days before closing. We are out thousands of dollars. Trying to resolve any problem is useless. They don't even have the decency to return calls or emails. Don't be taken advantage of. To top in all off my husband is a disabled veteran. They still owe us money and we are going to report them to every agency that can make them stop stealing anyone's money and time. We are prepared to take legal action if necessary.
My experience with Veterans First Mortgage was nothing short of a journey well worth taking and reviewing. Terri ** went to bat for me and on Dec 22, 2017, my family and I closed on our first home just in time for Christmas. Our expected closing date was Dec 29 but Terri was determine to have us in our home for Christmas and we were. We signed early that morning and the movers had us moved in literally that evening lol. From the start it was "We are going to make this happen for you and your family."
Terri is very efficient and knowledgeable about the VA Home Loan procedure. She truly fights for you and keeps constant communication with all parties involved. She gained the respect and admiration of my realtor as well as the seller's realtor. I cannot thank this corporation enough. You are a blessing and this family is truly grateful. So vets and even those who are not vets if you ready to buy Terri ** is waiting on you!!!
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From start to finish my experience with iFreedom Direct, formerly known as Veterans First, has been and continues to be terrible. I should have known that changing their name due to past negative reviews was the ultimate red flag, but I continued to deal with them on a simple home purchase. This is my 9th mortgage/refinance deal and by far the worst. From the seemingly inability to grasp simple modern technology like e-sign paperwork, to resolving issues as they come up instead of waiting till the last minute, to what seems to be a lack of business sense iFreedom Direct fails in every way.
I would never, ever use them again. I would never, ever refer any business to them. Incompetent, extremely frustrating, lackadaisical, downright incorrect are just the start to a string of words I could use to describe my unfortunate experience with them. You could not pay me enough to work with them again. There has not been one positive event during the entire three month ordeal. Run, do not use iFreedom Direct. If you do not believe me, do some digging...ask why they had to change their name!
iFreedom Direct was AWESOME. If it wasn't for them I would have never closed, my realtor was useless. Brent was the name of my lender and we must of had over a 100 contacts by text, phone, or emails throughout the process. He walked me through the whole process. I closed with $0 down got $490 back at closing and didn't have a home payment for 45 days. Left me no housing costs in December. Great at Xmas time. I'm seeing a lot of bad reviews out there and it's a shame because my experience was amazing and can't say enough good about it. Five stars just doesn't do it justice.
They lied to me about the interest rate and changed at the day of closing to higher rate. They said there is no down payment but they made pay $5,300. I had no choice to just sign the contract so I can move in the house with my family. iFreedom is a scam. I DO NOT RECOMMEND iFREEDOM. THEY SUCK.
I am a real estate agent and felt so bad for my client who decided to use iFreedom Direct for her loan. I had warned my client that non-local lenders can turn into a horrible situation, but her representative was great at being convincing on why they were amazing. The only time I ever spoke with my client's lender representative was our initial conversation when the lender was trying to win me over. After that, I could never get her to answer her phone once we were under contract and it was hard to get answers clarified via email. I never got updates on my client's loan situation, which I found strange.
When I checked in 1 week before my client's financial contingency deadline was due, I never got a response if she was fully approved. I emailed and called everyday until her deadline, but never got a response. I held my breath and hoped that everything was ok. Then, several days before closing, I tried to check in again to see if we were on track to close (because I sure hadn't heard anything and had to assume everything was ok). Finally, on the day before closing, the lender finally emailed me and said we would not close. My client was so furious and I was as well, mainly because we never received any phone calls or emails leading up to this point giving us a warning that this may occur. They said they were ready to go but needed a document that my client had to end up getting mailed to her which would take up to a week.
My thought was why didn't they ask for this much earlier! We re-scheduled the closing date for almost 2 weeks later. Meanwhile, the lender continued to ask for information from my client which makes me believe that they were never really ready to close on the loan and needed more time. I truly think they were a very disorganized team. I think the most frustrating part was that I could never get them on the phone. What poor service! My client then was asked to sign a good faith estimate document that is required to be signed 3 days prior to closing by 11:59 PM. However, the lender basically forgot to ask her to sign this until 10 PM of the night it was due. Oh, and she first just emailed my client and myself the document at 10 PM (which I was not checking emails at this point -- I would have if I had known I should have been looking out for it) and then she tried to call my client at 12:45 AM to tell her to sign!!
The lender failed to take into account that we were not in the same time zone as their Utah office. Needless to say, my client missed the deadline to sign that document and had to re-schedule our closing AGAIN for a few days later. My poor client had to re-arrange her movers, utilities, and other furniture deliveries 2 different times. My client was so upset and stressed on the day of closing, which is supposed to be a joyous time.
I will never EVER let one of my clients use iFreedom Direct again if I can help it. They failed to communicate and only answered questions they wanted to via email. They don't pick up the phone and even their upper management whom I tried to get in contact with was useless. I think the worst part was that they never apologized for forgetting to have my client sign that piece of paperwork until the 11th hour. They never admitted fault. And the funniest thing is that the lender had asked my client to not write a bad review of her. I will be nice and not mention names, but I would not trust iFreedom Direct with handling my loan!!!
I wasted about a month of my time with a loan officer who was uninformed of iFreedom Direct policies, as was her "manager" and "upper management." The result, starting over with a different company and over $3000 in earnest money, home inspection, and other expenses. Not to mention a lowered credit score from a credit check that never should have happened if the people knew their own policies and that of the va from the moment they first talked to me. Trying to reach higher levels to find someone who cared required diligence and perseverance.
Even that effort, was not fruitful. I recommend you google this company and believe the reviews you read about incompetence and lack of caring, I second guessed them. By the way, I did not put the names of the people who ripped out my heart and wallet, because from trying to find anyone in the company to help, I realize it probably doesn't matter which person you get on the phone. They will be incompetent and uncaring.
We applied for a mortgage from iFreedom Direct Corp. in April on the phone. After the loan agent checked our credit score which is excellent and took all our info he sent us a pre-qualifying letter for us to purchase a home. We sent all the copies of our assets to him, to confirm our conversation plus we were putting 75% down. The loan officer led us on to believe our loan was approved and we were ready to go as soon as we found a house. (The officers are trained to sound very trustworthy.) We found our house in the beginning of May and sent him a copy of the contract. He informed us our package was ready to go as soon as the appraisal was done on the house and assured us it would be ready 10 days later which would have been June 19, 2015 and we could make settlement by July 1st.
On June 19th he called and said the loan didn't go through because it was a Condo and they didn't give mortgages on Condos. We had to accept this and cancel our settlement date and found another mortgage co. with no problem but it has set us back at least a month in settlement. Since this is a shore home it means losing 1/2 of the summer! As though that wasn't enough on June 20 we received a statement saying we were refused the mortgage because of insufficient collateral. This is nonsense since we own our home and have more than enough in assets to cover the loan. I don't know how they can get away with this and I hope more people read these reviews and stay far away from this Company. Thank you.
Ifd continued to tell us everything looked great on their end. After I sent repeat documents multiple times, and we paid for inspections, seller paid for pest treatment, we cancelled a vacation to see friends we only see once a year. The day after our 1st scheduled closing date, we were told we needed a document that takes up to 90 days to get. So we are out all that money, we lose the house and missed seeing our dear friends. Thank you so much iFreedom Direct for nothing. We will never use your services or recommend you to anyone. Thanks for all you "do" for the veterans. :-(
iFreedom Direct could perhaps be the worst mortgage vendor on the net. I applied for a mortgage and was putting down 82% of the purchase price. I was assigned ** as their loan representative. I was assured that my loan would close within 25-30 days max! Their loan "process" is a comedy of errors, with no proactive advocacy from Mr. **. I made sure to send every scrap of information they requested on the very same day of the request. After a few weeks, I was seeing no progress or updates unless I called. The home inspection that was supposed to be done 2 1/2 weeks after my application was not done until 5+ weeks after the application. They send a Good Faith Estimate almost 4 weeks after first contact that was error filled, including a higher loan rate and APR than quoted, not to mention fees that I was told were waived.
Mr. ** said he was out of the office when that was sent. He never did send a corrected Good Faith Estimate which I think by law he must provide. He keep assuring me that no problem, the loan is good. It is now less than a week and a half until closing and no loan. I got an email yesterday (start of the 7th week of this loan process) stating they needed much more information. Today was the final straw. As Mr. ** has proven to be inconsequential as a consumer advocate, I called the President of the Company. He was not available and turfed my call to **, a Purchase Group Mgr. Mr. ** informed me today that they would be unable to process the loan unless I changed around income sources and showed income in another way, with a two month history.
Since the closing is in 9 days, it is impossible to show two consecutive months of income in this fashion. The bottom line is: iFreedom Direct is inept, unable to provide information and a loan in a timely manner, with no discernable process. They have left me with few options with only 9 days until closing. I would warn everyone to stay away from iFreedom Direct and find a lender who is not incompetent like iFreedom Direct.
iFreedom Direct Company Information
- Company Name:
- iFreedom Direct
- United States
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