Z e u s Lending reviews?

12 Replies

Has anybody dealt with    Z e u s  lending out of Houston? they just pre-approved me over the phone, which already has me skeptical, considering theyre the 6th or so private/hard lender i've talked to, the rest having turned me down. granted, i only am asking for pre-approval for an $80k purchase price, and they said they can approve me for the hard money short term loan, and then once a house is under contract and meets their purchase criteria, they can simultaneously approve me for a long term loan. 

i checked online and their reviews are pretty abysmal, but also, there are only a handful per year, and Yelp Syndrome is a thing: the majority of time no one will give a positive review when things go well, but if things go bad, people tend to leave scathing, emotional reviews. haha. which kind of seems to be the case. 

also, assuming they did even a hundred loans last year, or less than 10/mo, thats a 4% negative outcome. not a bad risk...

what they're accusing z e u s of though (excessive undisclosed fees, mean/hateful management, etc) is pretty serious, and it would certainly defer from working with them if it was true. 

any help would be much appreciated. 

all the best, 

dan

I know this is not what you asked but I'll be opinionated anyway. Perhaps you should be less worried about Zeus and more concerned about your deal and why 5 other hard money lenders turned you down. Are you sure this is a deal you want to go through? If it was a good deal they would have likely lent you the money, right? Your lenders are supposed to be your partners and they can act as a second set of eyes when you've otherwise fallen in love with a property. So take another hard look and then decide whether it is even worth vetting Zeus or any other company for this particular deal.

@Daniel Porter Why did the other 5 turn you down? If you have some other specifics, I can let you know if someone will approve you ie purchase price, rehab amount ARV. How much cash do you have? How's your credit?

oh i don't have a deal yet, i'm just looking for a pre approval, so i don't have to scramble for financing when i get something under contract. 

they're turning me down because of low AGI/DTI, instead of lending on a 1.25-1.5 DSCR asset with 9-12mo of reserves, and a 720+ credit score. also, due to differing regulations on boarder income and primary residence/"house hacking" investments, as well as first time buyers.

i've got a lot of things going against me really. haha. but i'm pressing through, little by little. appreciate the concern though, and i'd love to send you the deal details once i have them, if youd be willing to lend your expertise. 

BEWARE! BEWARE!! BEWARE!!!  Zeus Lending is a fraudulent company, very dishonest and their scam is to say you are approved and then take your money and drag the process out with no end in sight.  

Originally posted by @Chase McKinney :

BEWARE! BEWARE!! BEWARE!!!  Zeus Lending is a fraudulent company, very dishonest and their scam is to say you are approved and then take your money and drag the process out with no end in sight.  

 Hi Chase, what money they ask for? Are they like Do Hard Money and require you to pay thousands of dollars before you get a dime?

I was also conditionally pre approved with a phone call and follow up email with some of my basic financials , for about $280k. But they also had several conditions, including me having an LLC set up by the time of closing.

Which is likely a CYA from their perspective, not a bad thing, just an extra step for a 1st time flip. 

Keep us posted if you follow through with a deal