Rehabber · Beecher, IL · Member since 2013 · 101 posts · 21 votes
This is my experience with Lima One. I highly, highly recommend you find any company except Lima One.
Just a forewarning to save yourself a million headaches. DO NOT use Lima One for any financing. There are a million other options, Dominion, Lending One, Visio. Use anyone EXCEPT Lima One. They have failed multiple times to make insurance payments from my escrow account. They also paid the county property taxes late from escrow so I incurred penalties. This has literally happened multiple times in 1 year. Unfortunately, I did a portfolio loan with them so multiple properties are involved and getting screwed up. Lima One is a total joke.
This is in additional to changing my rate the day before closing, and almost tanking the entire closing because they didn't have all the documents ready the day before closing.
This is my experience with Lima One. I highly, highly recommend you find any company except Lima One.
Just a forewarning to save yourself a million headaches. DO NOT use Lima One for any financing. There are a million other options, Dominion, Lending One, Visio. Use anyone EXCEPT Lima One. They have failed multiple times to make insurance payments from my escrow account. They also paid the county property taxes late from escrow so I incurred penalties. This has literally happened multiple times in 1 year. Unfortunately, I did a portfolio loan with them so multiple properties are involved and getting screwed up. Lima One is a total joke.
This is in additional to changing my rate the day before closing, and almost tanking the entire closing because they didn't have all the documents ready the day before closing.
Hello Mike -- full disclosure, I work for Lima One Capital. I connected with servicing management to make them aware of the escrow issues you raised. They are investigating your concerns. We will reach out to you directly, via the contact information we have on file, to further discuss. I will also connect with your sales representative to better understand the hurdles you ran into near closing. I can assure you that what you described is atypical, and we will fully review the concerns and reach back out.