Dealing with TriStar Finance was one of the worst experiences possible. Their owner – Seth Raddue and COO, Patrick Davis, treated me like an idiot – easy prey for their bait-and-switch scam. They offered me a good interest rate and minimal fees, and at the last minute, 4 days before my loan was set to close – they changed the loan entirely and added a lot more fees.
They discouraged me from contacting any other lenders, by telling me that other lenders would not be able to offer me the same rate and low fees and stated that because my credit score was just below 700, my file was considered “difficult” and even though I was putting 20% down, I would be hard pressed to get a better deal.
Before I started dealing with Tristar, I had already been pre-approved by 3 other lenders. I contacted Seth through a recommendation by my real estate agent. At first, Seth seemed genuinely interested in getting me the best rate and in helping me boost my credit. The pre-approval he sent offered me a lower interest rate than the other 3 lenders I had originally gone to, so given that and the initial promising conversation I had with Seth, I felt confident in choosing TriStar as my lender.
As the loan process started progressing, my father (who was helping me throughout the process) and I, began having some apprehensions about TriStar. The team was unorganized and frequently asked for documents I had already provided. The process was stress-inducing and frustrating and when my dad spoke with Seth, Seth was rude and unprofessional over the phone. My dad told me that Seth had to have been drunk given the level of disrespect with which he spoke.
Unfortunately, their conversation took place with just 5 days before closing, so I felt like we had no other choice than to stick with him.We submitted all of the documents necessary to fulfill the numerous conditions and it finally looked like we were set to close. I was sent a Closing Disclosure, which I signed, and was told that the closing date would be pushed back to March 7th, but we were good to go.
I was overjoyed at the prospect of being done with everything when, on March 2nd, I received a new list of conditions, one of which was impossible to fulfill. I was incredibly frustrated by this and expressed my frustration, to which Patrick told me “this is the way the loan process works” but he would try to come up with a way to make the loan work.
That evening, Seth called and let me know that he found a solution and would send me a new closing disclosure. On March 3rd, I received the new closing disclosure and found out that his solution was to use a different funding program, which would amount to an additional $1904 due from me at closing.
With 4 days left until my loan was set to close, I was fed up. The new conditions could easily have been avoided had the team at Tristar been proactive about considering all possible obstacles. I emailed Seth and Patrick and told them that I no longer wanted to work with them and would find a different way to finance my purchase. To which Seth Raddue responded with:” Zoya I have tried to call you multiple times through out this process especially in the past week to proactively resolve YOUR debt to income ratio issues. They aren’t my issues. You never once called me back.
The issue thay prevented us from making any determination sooner was that you and your father (who is a world class jerk and treated me like absolute garbage earlier this week over the phone when I called him to get what we needed regarding his assets but he knew FAR better than me…) weren’t proactive in getting us all of of the documents necessary to fully underwrite your loan and then you act like we are at fault
You will both learn the hard way because your father is an ignorant person and mortgage Rates are far higher now than when we locked your loan” I kept Seth’s grammar and punctuation as it was in the email so you can judge the level of professionalism.
Throughout the process of working with TriStar, I was shocked at how unprofessional Seth Raddue was. From our initial conversation, I expected much more from him and was disappointed at the turn of events and the manner with which Seth and his team treated my father and I. I would absolutely never refer anyone to TriStar Finance.