Anyone dealt with a company LOANGUYS?
Robert A. ColomaPro Member
Member since 2020 · 32 posts · 26 votesAnyone dealt with a company LOANGUYS?
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Jennifer TurnerPro Member
Realtor · Gainesville, FL · Member since 2019 · 57 posts · 49 votesI *almost* did a bridge loan through them, but ended up firing them and using a private money lender again. They were super slow, had literally no idea how to read a basic purchase agreement contract, messed up on most of the paperwork, and ultimately were going to cause us to close 2-3 weeks late, with a lot of extra fees and less LTV than originally promised. I would never use them again unless I was in dire straights. If you have good credit and any experience at all, use someone else!
64 Replies
- Member since 2025 · 2 posts · 0 votes1y
Quote from @David Hausner:
My name is David Hausner and I recently purchased a Single Family Residence with LoanGuys.com. My account executive was Addison Rosen. She did an amazing job getting me the rental property financing I needed. I bought the property for $350,000 with an existing tenant. The cap rate on the property was a little over 4.5%. LoanGuys did not verify my income. The loan was based on my experience, FICO score, and the asset I was purchasing. They got me the loan in two and a half weeks. There was a little bit of a delay but that was because the appraisal company was backed up. Overall my experience with Addison and the LoanGuys team was easygoing and superb. I would highly recommend this company for investment property financing especially if you have a hard time showing income. I look forward to getting more financing from LoanGuys in the upcoming months.
David my apologies for posting empty replies. I'm trying to figure out how this works. My question to you is when you said the loan was approved partly due to your experience what exactly are they looking for with experience?
- Member since 2025 · 2 posts · 0 votes1y
Quote from @Robert Powers:
Quote from @David Hausner:
My name is David Hausner and I recently purchased a Single Family Residence with LoanGuys.com. My account executive was Addison Rosen. She did an amazing job getting me the rental property financing I needed. I bought the property for $350,000 with an existing tenant. The cap rate on the property was a little over 4.5%. LoanGuys did not verify my income. The loan was based on my experience, FICO score, and the asset I was purchasing. They got me the loan in two and a half weeks. There was a little bit of a delay but that was because the appraisal company was backed up. Overall my experience with Addison and the LoanGuys team was easygoing and superb. I would highly recommend this company for investment property financing especially if you have a hard time showing income. I look forward to getting more financing from LoanGuys in the upcoming months.
- Member since 2025 · 2 posts · 0 votes10mo
Loan guys is a third party loan processor that engages in fraud and predatory lending practices. Do not trust them at all. They tried to push a loan through that I don’t qualify for and that would have led me to foreclosure on my home. They refused to disclose who the lender was. They told me to fabricate documents to get the loan through. They promised that this loan would close in 15 days and that I was approved but continued to request documents that I informed them, I did not have. They also started requesting upfront payments from me, without much explanation as to why, other then it was to pay for documents. They prayed on the fact that I was in urgent need of a cash out refinance loan to complete a buyout of the joint owner on my home title to satisfy a court order. I paid $850.00 for an appraisal that they also refused to disclose to me and claimed that my home was worth $100k less than it is. I requested a formal withdrawal of my application with documentation that it was withdrawn, as it was not an appropriate loan program for me and I was not comfortable moving forward. Their response was a denial email, still without disclosure of the lender. They requested that I email photos of my SSI card as well.. they don’t use a secure portal. Everything is via email. They have multiple non verified phone numbers and no way to contact the actual company. DON’T USE THEM.
- 8moSarah NouriBusiness MemberLender · Member since 2024 · 16 posts · 1 vote
Quote from @Madeline Holland-Jackson:
Loan guys is a third party loan processor that engages in fraud and predatory lending practices. Do not trust them at all. They tried to push a loan through that I don’t qualify for and that would have led me to foreclosure on my home. They refused to disclose who the lender was. They told me to fabricate documents to get the loan through. They promised that this loan would close in 15 days and that I was approved but continued to request documents that I informed them, I did not have. They also started requesting upfront payments from me, without much explanation as to why, other then it was to pay for documents. They prayed on the fact that I was in urgent need of a cash out refinance loan to complete a buyout of the joint owner on my home title to satisfy a court order. I paid $850.00 for an appraisal that they also refused to disclose to me and claimed that my home was worth $100k less than it is. I requested a formal withdrawal of my application with documentation that it was withdrawn, as it was not an appropriate loan program for me and I was not comfortable moving forward. Their response was a denial email, still without disclosure of the lender. They requested that I email photos of my SSI card as well.. they don’t use a secure portal. Everything is via email. They have multiple non verified phone numbers and no way to contact the actual company. DON’T USE THEM.
Thank you for sharing your concerns. We take allegations like this very seriously and want to clarify several important points for accuracy.
At no time did anyone at LoanGuys instruct you to fabricate documents. That is strictly against our policies and industry regulations. Based on the information provided during the application process, your credit profile did not qualify for the loan terms you were seeking. We presented the available option at the time, which you ultimately chose not to proceed with.
Regarding the appraisal, LoanGuys does not determine property values. Appraisals are completed by independent, third-party licensed appraisers, and we have no ability to influence or alter their valuation. Loan terms are based solely on the appraised value provided to us.
All third-party fees, including the $850 appraisal fee, were disclosed in advance and require borrower authorization before being charged. Our team is not permitted to collect any upfront fees without borrower consent.
We also want to clarify that LoanGuys.com does use a secure borrower portal for document collection and communication.
Lender disclosure is provided once a loan proceeds past certain stages of underwriting, in accordance with applicable lending regulations. When you requested to stop the process, your file was formally withdrawn, which resulted in a denial notification reflecting that status.
We remain committed to ethical lending practices, transparency, and regulatory compliance, and we encourage anyone with concerns to contact our management team directly so they can be reviewed thoroughly.
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