Beware of Perennial Funding! They lie! I don’t like to use that word but honestly they tell you lies. We applied for a refinance.
I was up front with the Loan Officer Jordan Donolow that I had an appraisal done 1 month prior because my son was going to purchase the property and had a bad experience with the lender and decided to wait about 1-2 yrs.
To help him we decided to refinance to lower our rate and give him a break on the rent.
Mr. Donolow told me weeks later that our loan was approved and an appraiser would be contacting me to schedule an appointment.
He was going to roll the cost of the appraisal into the settlement costs because I did not, nor wanted to put out another $400 when I had an appraisal in hand.
After weeks passed and other loan officers got involved and continued the tall tale about not having to lay out $400 appraisal fee, I was told that they could not find a lender to do an appraisal without paying for it first!
Really? What happened to the lender New Penn Financial and the approval of the loan? After they continued the lie or misrepresentation they wanted me to give them $400 for a new appraisal.
I told them at that time, even if I had the money, I no longer trusted them.
If I didn’t put out money for an appraisal a month earlier, I would not have had a problem paying for one.
However, I resent someone stringing me along knowing full well what they are doing.
I did everything else they asked me to do in a timely fashion, only to get zero in return.
I believe the best way to go is directly to the source (bank).