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Consumer Reviews and Complaints

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Hi Alex,

Thank you for your business and for taking the time to leave a review for Doug! We’re glad to hear that you had a positive experience with us.

Original review: July 27, 2016

I read some customer reviews about Prospect Mortgage online through internet forums and Consumer Reports. They really had a high rating and customer service as well as they had competitive APR. I talked to Doug and he was really nice and walked me through the whole thing. He was patient, gave a couple of options, did the math, and was pretty quick to reply to any questions I had. He did a great job. I got a VA loan and the application process was straightforward.

4 people found this review helpful

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Hi Krystal,

Thank you for your business and for taking the time to leave a review! We’re happy to hear that you had a positive experience with us.

Original review: June 12, 2016

I wanted to buy a house so I got a loan from Prospect Mortgage. Applying for it was very easy and the representative was wonderful. I was very happy with my experience and I would definitely use them again.

5 people found this review helpful

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Hi Tanya,

Thank you for your business and for taking the time to leave a review for Wendy and Lisa! We’re happy to hear that you had a positive experience with us, and we appreciate your recommendation.

Original review: May 15, 2016

We purchased a new house and got an FHA loan with Prospect Mortgage because I have gotten to know and have been in touch with our loan officer, Wendy, through the years. The process was a breeze. It was made easy by Wendy and her assistant, Lisa. They were awesome and we had a wonderful experience with them. We highly recommend them.

5 people found this review helpful

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Hi Calyes,

Thank you for your business and for taking the time to leave a review for Julie! We’re happy to hear that you had a positive experience with us.

Original review: May 7, 2016

We were looking at houses and through our realtor, Lee, we learned about Prospect Mortgage. He said that it was good to work with them so we did. We worked with Julie ** from Prospect Mortgage. They asked for a lot of information and were very detailed. They asked about our job, debt, investments, and banking, as well as other information that we needed to add. They continued to keep in contact with us and looked for VA certification information. It seemed like a lot but it was the information that they needed, so we provided them. It was tedious as every time we turned around there was something else that we needed to provide. But in the end, it worked out.

4 people found this review helpful

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My experience with Prospect Mortgage was good. I got a conventional loan from them, but there was a problem when we did the closing. It was an error on the part of Prospect Mortgage. One of the ladies entered a different number. As opposed to calculating three months, she calculated it for two months, which made the closing cost change the last minute and I wasn’t told about it ahead of time. That created an issue. Now, I have to pay $900 more. That was an unexpected expense that I wasn’t really aware of.

Sheryl, the consultant that I was talking to who did the loan for me wasn't aware of it, but she talked to the woman that made the mistake. The woman didn’t want to own up to it. I was very upset with it. The person that is punching up the numbers for the closing cost needs to be aware of the details and not just blindly enter a number and then end of the story, and then the mistake is done, and the client has to pay for it. This is my first time buying a house and I wasn’t expecting that kind of response. It was very unfortunate. I’m not dissatisfied with Sheryl. She helped me out throughout the loan and she explained properly. She did a good job. However, because of what happened at the end, I wouldn’t recommend Prospect to someone else. I wouldn’t want a friend of mine to experience what I’ve experienced.

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The application process with Prospect Mortgage was pretty easy. We've done most of it all through the computer and they brought down to us to the house when we went through it and we signed the papers. The loan officer was also very courteous. I don't know whose responsibility it was with the home warranty but we were told that they were putting the basic plan on there and they said it covers the big things. And that's all we need. But we were also told it was way too expensive to get the best one. When I got the policy, I looked at it. It was only $220 more for the most expensive one. So I called them up and complained about it and got it switched over. Also, the inspectors didn't really check the house that good enough, 'cause we found quite a few problems with it.

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Prospect Mortgage Gave all of my information to a man that my mom was dating/boyfriend. I was trying to help my mother get a home and was going to co-sign for her. One of the loan officers (Christy **) gave all of my information to the man that my mom was dating/boyfriend. He then took that information and tried to get a car, credit cards, and loans using my identity. He was a known felon for identity theft. My credit is now messed up because of her giving my information out to this man. To anyone looking to get a loan/mortgage or anything else from this company, I would not advise you to do so.

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The application process with Prospect Mortgage was fine except that I didn't feel like I was given the amount of paperwork that was required with the new laws ahead of time. That was the only hiccup but they got it taken care of over time.

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The loan officer I dealt with was great and she was the reason I chose Prospect. The application process was fairly easy and they were able to answer my questions. Everything is good and I'd recommend them.

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Someone that I was working with at a previous mortgage company left and went to Prospect. So, I stayed with their broker. I got a conventional loan program from them. The application process was easy. The loan representative has been very good. I’d recommend them.

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My wife and I found the home of our dreams and wanted to buy it and renovate it to our liking as it was VERY outdated. We started the process with our local office in Sewickley, Pennsylvania, and a fellow named John **. At first he was a real gem, in the rough, but a real confidant, and knowledgeable. As the process started to gather steam, we were asked to provide the usual documentation and then some, but figured that since HUD was involved, that explained a lot, to me, anyway. We were told that we had to pick an "approved" 203k contractor, do walkthroughs with him or her, (this turned out to NOT be true) submit bids, etc. 3 of the 3 contractors we were given were arrogant, uninterested, and poor at returning phone calls.

Long story shortened, John failed to guide us through any of the process, lied, committed malpractice (possibly broke the law, at least) and he himself was VERY lacking in attention to detail like sending commitment letters to our real estate agent, moving the closing date "3" times at his pleasure, and lied again about simple things like when the appraiser was to make the final visit to the property to confirm the projected value of the home after renovations were completed. We are now in our 7th week of the process, and were informed that the closing date was attempted to be moved "again" and the appraisal that was supposed to be done and we're awaiting the results to come back to John **, in fact was never even done!! I can go on and on but suffice it to say, "WE ARE UPSET WITH JOHN ** AND PROSPECT MORTGAGE.

8 people found this review helpful

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Hi Julia,

Thank you for your business and for taking the time to leave a review! We're glad to hear that you had a positive experience with us.

Original review: Oct. 21, 2016

I needed to refinance because I had a high interest rate of 5.5%. I was so impressed with the first visit with the rep of Prospect Mortgage, so I didn't even care to look any further and went with them. It was awesome during the application process. It wasn't difficult at all. Everything went very well with my loan officer. The first payment for my mortgage is due on November 1st.

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Hi Loretta,

Thank you for your business and for taking the time to leave a review for Terry! We're glad to hear that you had a positive experience with us..

Original review: Oct. 18, 2016

My husband and I went to an open house and the realtor who was doing the open house contacted a loan officer from Prospect Mortgage because I wanted the house we were looking at. I talked to Terry at the time by phone and she got it into motion. There was a lot of paperwork, searching and digging. Still, Terry was great, a nice lady, and I loved her. Everything was on the up and up. When we went to sign the closing papers, she was there and brought us a little gift. Overall, they were a pleasure to deal with and we’re very satisfied.

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Hi Roland,

Thank you for your business and for taking the time to leave a review for Jennifer! We're glad to hear that you had a positive experience with her.

Original review: Oct. 14, 2016

Prospect was the only one I went with after I called and they told me what they could do. I talked with Jennifer and she was the best. She went all out and made sure the loan happened for me. I've got car loans but I have never had anybody to work with me like that. I thought it wasn’t going to go through ‘cause it had to do with things on my credit but she never gave up on me.

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Hi William,

Thank you for your business and for taking the time to leave a review! We're glad to hear that you had a positive experience with us and we appreciate your recommendation.

Original review: Sept. 2, 2016

I’ve relocated, I’m retired and I’d seen a house down in Alabama I wanted to buy. I was looking in a magazine with different people for mortgage and saw the picture of one lady from Prospect who looked like she would really succeed. A broker recommended somebody else but I said I'm going with Prospect because I like the lady’s picture and I have never seen her yet. So I called her and she got right back to me and explained the whole procedure, that she would do the best she can, and what I needed to do. She made it so simple that anybody could do it. She walked me through what I didn’t understand and she sounded like she had a smile on her face when she was doing it. She is fantastic and I'm really impressed. I couldn't find a better person to work with. If more people had anybody half as good as her, it would be no problem.

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Hi Damon,

Thank you for your business and for taking the time to leave a review for Teri! We're glad to hear that you had a positive experience with us overall.

Original review: Aug. 30, 2016

The guy at Select Homes said that Teri from Prospect works hard, is trying to gain business and she'll bend over backwards for me. Plus, he said, "If you want the possibility of the best deal, she'll work with you." So I decided to go with her. Overall Prospect was pretty flexible and they were able to answer my questions quickly.

2 people found this review helpful

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Hi Melissa,

Thank you for your business and for taking the time to leave a review for Jennifer! We're glad to hear that you had a positive experience with us and we appreciate your recommendation.

Original review: Aug. 27, 2016

My experience with Prospect Mortgage was amazing. They have the simplest process, thanks to our agent, Jennifer. She was very knowledgeable and very detailed. She would email me and tell me what I needed to do. It was just the best experience. I’ve recommended her to everybody.

2 people found this review helpful

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Hi Jean-Claude,

Thank you for your business and for taking the time to leave a review! We’re glad to hear that you had a positive experience with us.

Original review: Aug. 17, 2016

I decided to buy a house. I already had Prospect Mortgage's number in my file as my friend recommended them so I called them. My first experience was with Bank of America, and I don't know if it's a new regulation but the application process was really tough. When you have any loose, suspicious activity, you'll never get your loan at all. But my loan officer was really good and helpful. He also encouraged me because at the last minute I wanted to cop out. They are strict but they made my dream come true.

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Hi Karen,

Thank you for your business and for taking the time to leave a review for Kenny! We’re glad to hear that you had a positive experience with us.

Original review: Aug. 2, 2016

Kenny ** in NYC is very helpful, professional. My loan for my first house and refinanced were through Kenny at Prospect Mortgage. Now I am buying my second home and Kenny is very helpful, knowledgeable, and answer all my concerns in a very short period of time.

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Hi Jeffrey,

Thank you for your business and for taking the time to leave a review! We’re glad to hear that you had a positive experience with us.

Original review: July 31, 2016

I was in need of a loan for my first home. I was working with one of the Prospect loan officers from a previous company and he has given us good service. So I applied for a loan through Prospect Mortgage and got a regular FHA. The application process was informative, quick, and pretty easy. Everyone I worked with was helpful in getting me through the loan process. They even let me know what was needed to be done. It was a good experience.

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Hi Theresa,

Thank you for your business and for taking the time to leave a review! We’re glad to hear that you had an overall positive experience with us.

Original review: July 23, 2016

The house that we lived in came up for us to purchase and the banks wanted a 10% down payment and that was too much. They suggested that we look for something else and Prospect Mortgage was what we found. I called the number, started talking and away we went. The application process was easy. We sent them everything they wanted. It had to go through twice because we would be going with our seller’s lawyers and they didn’t get all the paperwork to our mortgage guy in time. The time frame fell through, so we had to do it again. They were blaming us and it got kind of messy, but that was their fault, not Prospect’s.

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Hi Lisa,

Thank you for your business and for taking the time to leave a review! We’re glad to hear that you had a positive experience with us overall.

Original review: July 22, 2016

We were buying a new house and the mortgage broker recommended Prospect Mortgage. We went with a conventional loan. The application process was easy as could be expected and my loan officer was great. She was very helpful, knowledgeable, and always willing to answer questions. I assumed when we went with Prospect Mortgage, that's who we'll be sending our checks to. Our first bill came from a company named Ocwen. We haven’t even made our first payment yet and we got the letter saying that now they're going to someplace else.

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Hi Rhonda,

Thank you for your business and for taking the time to leave a review! We’re glad to hear that you had a positive experience with us.

Original review: July 21, 2016

Prospect Mortgage's application process was very easy. We did the online initial process and the person that we worked with in my local area was very good. This wasn't the first time we've used them. The 203k loan was a bit more difficult than it has been in the past. I was not happy with the way that it worked out with the consultant that we were using. Other than that, everything Prospect did was very timely. They followed up very well and made sure we were on time with the closing. I was very happy with all of that process. I’m very satisfied and with my future purchases, I’d be going back to them.

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My experience with Prospect Mortgage was horrible. The broker would say anything to get you started in the process, then would not communicate anything along the way. Inquiries go to his support staff who also do not respond. I feel the broker did misrepresent several items to me, in order to get me to go forward with the mortgage, when I otherwise may have waited a little longer.

I was also promised a $500 credit which did not happen. We missed the original closing date due to delays from Prospect Mortgage, and I did not have a formal approval until literally the day before the initial scheduled closing. Overall, the worst experience I have had with getting a mortgage (this was my 5th) to date. I will never use them again, and will be looking to refinance and go with a more reputable company as soon as possible.

22 people found this review helpful

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I’ll keep this short to make it worth reading. Prospect has been terrible. Their rep was difficult to get a hold of and sluggish to move forward without prodding. He made us miss the listed closing date and potentially lose the purchase. Once he finally got the inspection, he failed to get me the closing numbers. Even the day of closing, (which he delayed to Dec 23, because finding moving help is so simple over Christmas) he never got me the closing costs until at the signing. I then had to drive to the closest bank to get the check and return to finish the deal. Just after closing we changed insurance companies and come to find out months later he never did the paperwork because he quit two weeks after closing and Priority dropped the ball. So, because of the forced escrow that didn’t pay, my insurance was dropped completely on the house.

I was then paying for the new mortgage companies insurance, because Prospect sold my loan on the first month. So Prospect now says they can’t help and the new lender won’t either. I eventually paid the entire year again out of pocket. So my escrow is growing constantly and my closing payment just disappeared. Speaking with Prospect they just blew me off, asked to have some time to get the information then never got back to me. They have terrible reps, horrible follow through, useless support, and that is all assuming they don’t just dish off your loan leaving you at the mercy of their choosing. Avoid at all costs.

25 people found this review helpful

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Hi Angela,

Thank you for your business and for taking the time to leave a review! We’re happy to hear that you had a positive experience with us.

Original review: June 24, 2016

I was looking online for houses and trying to see if I could get approved for a loan. Prospect reached out to me, and I got an FHA loan from them. The application was easy, and the loan officer was very helpful. I was trying to find a house to purchase that fit the loan. My experience with them was great.

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Hi Erica,

Thank you for your business and for taking the time to leave a review for Jennifer! We’re happy to hear that you had a positive experience with us, and we appreciate your recommendation.

Original review: June 19, 2016

I went to one mortgage company and I was not pleased with what they offered. I called my realtor, who was also my landlord for three and a half years, and he gave Prospect Mortgage as a recommendation. I had the FHA loan program and I was very pleased. My realtor recommended a few different names, but Jennifer, one of their reps, was on top of the list. I had a fantastic experience with her. She was absolutely amazing. She was excellent in communication and responded back quickly. Jennifer was professional and made me very comfortable. She was helpful, friendly, and very thorough. She stayed on top of everything and made it work. I’ve already recommended her to several people.

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Hi Corey,

Thank you for your business and for taking the time to leave a review! We’re happy to hear that you had a positive experience with us, and we appreciate your recommendation.

Original review: May 31, 2016

We were ready to buy a house and needed a loan. We looked at some lenders but they had so many stipulations and wanted this and that. On the other hand, Prospect was easier to work with. The loan officer was very friendly, helpful and hardworking. He always gets back to me whenever I need to talk to him.

2 people found this review helpful

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Hi Dustin,

Thank you for your business and for taking the time to leave a review for Lisa! We’re happy to hear that you had a positive experience with us.

Original review: May 17, 2016

My father passed away and I wanted to buy his house. I had to get a loan but didn't want to go through Chase because they were not offering a great rate. I went for an FHA loan with Prospect, and the application process was pretty great. The closing agent Lisa helped me out tremendously.

3 people found this review helpful

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Hi Curt,

Thank you for your business and for taking the time to leave a review! We’re happy to hear that you had a positive experience with us.

Original review: May 13, 2016

I was buying a home and Prospect Mortgage did a very good job when I got a conventional loan with them. The application process was easy and the loan officer was excellent.

Prospect Mortgage Company Profile

Company Name:
Prospect Mortgage
Company Type:
Private
Address:
15301 Ventura Ave., Suite D 300
City:
Sherman Oaks
State/Province:
CA
Postal Code:
91403
Country:
United States
Phone:
Website:
http://myprospectmortgage.com/