Look out for this Lender

[Will Reed]

So Griffin Funding, Is a lender you may want to reconsider using. So up to this point in the process They pre-approved me the next day I was then under contract for an amazing deal on a multifamily. It then took them 8 days to get the application to me. Then they ordered an appraisal that at the earliest could not get it done till 5 days before closing. Then after a few days they agreed with me that was not going to work out so we hired a new company, but they couldn't do it till 3 days before closing but in the process of all this they cancelled the original. Then a week later I get an email from the new appraisal company wanting more money. Turns out It was submitted as a Single Family home not a multifamily. So we get the extension 10 extra days. Then the insurance calls me saying they cant get the purchase agreement from the lender to bind the hole thing. Which I had been on the phone daily with the lender being assured everything was moving forward on there end they were just waiting on the insurance. So somehow they couldn't figure it out. I gave the Insurance the purchase agreement which they had been asking the lender for for day. Then my lender gets that sorted and now they want to hit me with a serious of new questions about bank statements . The final date is the 10th and the lender hasn't even finished. They have also assured me that once they do finish it is a 3 day waiting period which would put me at the 11th. The seller has also said no more extensions probably because they got a better offer.   When the lender at Griffin does answer they are nice and sweet  but I think it would be better if they answered the phone consistently and got the job done. Or told me to **** my self we don't want to do this deal, so I could find some one else. Which I should have done earlyer on, so all in all my fault. 

[Jack Tulloch]

Will - that's so frustrating. Thank you for sharing. Executing on a deal is the most important component of a lender, but as Erik said, a lot of lenders win people over with amazing terms but ultimately can not follow through.