HFS Financial Reviews 2,016

If I could leave a zero star review, I would. My contractor offered HFS as a quick way to finance and, though I didn't need it, felt I would prefer to pay over time. I have strong credit, no delinquencies, income in excess of $200k per year and assets in excess of $2 million.

My loan was for $22,500. After supplying basic information, they came back and started asking for more. By the time I was through, I had given them 2 years of persona tax returns, two years of business tax returns, three months of personal and business bank statements, two pay stubs, my brokerage account statement, etc. For $22,500!!!!!

Then they tried to ask for permission to get my personal information directly from the IRS. I asked them "what is that for, since I've provided you what you need" and less than two hours after asking, they denied my claim for "inability to verify income." With all of that information?

Wasted a month of time, a ton of energy for nothing. DO NOT UNDER ANY CIRCUMSTANCES USE THEM.

Easy application process, quick approval, quick funding. I liked receiving the money to disperse directly to the contractor on an approved schedule.

While the process was as expected with a good credit score and enough income to service the loan. I will say the paperwork at the end really needs a close read. The most difficult thing to figure out is how the credit rate works if you do not give them paperwork which appears to be needed, but they say they will get. Their wording makes it look like your interest rate can balloon to nearly 19% if some paperwork isn't provided. So why does our rate skyrocket if you can't get paperwork from a 3rd party?, Why is the borrower on the hook if you can't get whatever it is that you need from a 3rd party. Not a comfortable position to be in, not knowing if one day your rate will just double. Also, it's unclear what happens if you sell your home either. Is the loan not attached or is it? Very confusing to say the least. (I will say, others complaining about the 4% charge are simply not researching before applying. We were looking at 2 different lenders and it's the first thing you should always look for...It is not hard to find the fees at all. Nobody wants to pay 4% fee upfront, but that's the cost of doing business with HFS, however...the small print on interest rates was something I find bizarre and we're completely uncomfortable taking a loan when the rate isn't actually fixed at all. That's dumb. It is actually a variable rate by letter of the law and marketing it as fixed is probably going to be a class action suit for HFS at some point.

The loan application process was quick and easy. The staff was highly responsive and efficient, making everything smooth from start to finish

The team I worked with was informative and helpful along the way.

HFS was very fast, communicative, and efficient.

The process seemed to go slower than anticipated. No direct contact with underwriting: had to go through the loan officer at HFS for updates on status of the loan.

So the only real issue was after pre approval. The website is very poor in this department. A lot of the back and forth of needs the underwriting needed could have been made clear and available if the info asked by the system was clean and clear. No real issues but I could have provided all info that was needed in one lump if it were explained correctly or asked for the first time. You need to run a test trial on a test person otherwise you won’t see the issues if you do a test with someone who works for you if they already consciously know what you need.

Everyone was very helpful. I was doing this on my phone so I was stressed. However they made it very pleasant

Andrea was terrific to work with! Always available and very prompt with emails and texts!

Great communication and fast funding! Highly recommended.

Initial application process was easy and went quickly. As the process went on, the communication and timeliness lagged compared to other financers I have used. It was fine for me, but if I had tighter deadlines, it could have been a problem.

Trish was great in quickly responding to any questions I had, the service was outstanding! Also, the process was simple and easy. Thank you for a great experience!

The associates were very knowledgeable and worked with me and were very kind.

The process was insanely easy and the communication was great!

Great quick service

Like always I’m sure your team was met with challenges when it came to my account, but they never gave up and they were always professional helpful. I could never see anything negative about them.

Very easy painless process

Such amazing service - so fast and efficient too!

Whole process from start to finish was so easy. Ladeana was a pleasure to work with. It’s about a week or so from start to actually being funded for the whole process to be complete. All in all would totally recommend and use HFS again.