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| Home Finance of America Mortgage Star Ratings |
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We found the Home Finance of America's website laid out well. The site
does a great job at highlight special features such as the 24 hour
approval and special programs for teachers, police, firefighters,
medical personnel and military personnel.
The section that lists the documents required for a home loan purchase,
home refinance, home equity loan or credit lines is a welcome addition
to the website, allowing the user to make sure he has all the needed
documents before beginning the application.
Home Finance of America allows you to apply for a mortgage loan through a
number of ways: over the phone, downloading an application and faxing
it to 610-834-7481, by mail (Home Finance of America 521 Plymouth Road,
Suite 112 Plymouth Meeting, PA 19462) and online via a short form or a
long form. The short form is standard to others we seen and takes about
2-4 minutes to complete. The long form may take a little longer to
complete as it may take you up to 15 minutes to complete this form.
However, the Star Reviews team liked that you could save a partially
completed form to come back to it later if needed. If you do not happen
to have all the required documents when you are initially completing the
form, then this great feature comes in handy.
Key Home Finance of Americas Features - Rate Alert feature
- Customer services availability 7 days a week.
- Loan first program
- Special discounts and benefits for teachers, police, firefighters, medical personnel and military personnel
- Loyalty program: savings for repeat customers
- Fast approval times, often within 24 hours
Favorite Home Finance of Americas Feature
Star Reviews loved the Home Finance of America Rate Alert feature. The Rate Alert feature allows the homeowner to track interest rates thereby helping them to decide the best time to purchase their loan or lock in an interest rate. You simply fill out a quick form indicating the preferred loan type, the maximum interest rate and maximum points. The Home Finance of America's Rate Alert feature will then automatically email you when that target rate is available.
Of course, Star Reviews liked the 24 hour approval, but we liked the 2 hour approval for teachers, police, fireman, medical personnel and military personnel even more. If Home Finance of American does not provide the approval within 2 hours, you get a $100 closing cost credit. We also liked that they gave a $100 discount application fee and $250 credit at closing to this group of people.
Lastly, look for the $25 closing cost coupon available on the "Special Offers" page of the website.
All Home Finance of Americas Features- Choice of two applications forms: a short and long form
- Saturday and Sunday hours
- 7 day a week live customer service
- Automated underwriting system means less paperwork
- $25 credit at closing coupon available on website
- Choice of two online applications both short and long
- Loan first program allows applicant to get a loan approval before finding a home
- Good selection of mortgage calculators
- Some no fee loans
Home Finance of Americas Pricing
Home Finance of America does not charge an application fee to apply online for a mortgage loan through their website. Origination fees are based on the loan amount, loan product and consumer's location.
Home Finance of Americas Customer Service
We loved the accessibility of the Mortgage Professionals at Home Finance of America. You are able to speak to a live person 7 days a week and business hours include both Saturdays and Sunday until 3:00pm EST. You can contact the company through phone at 1-800-358-LOAN or by completing an online form. When we called the customer service number, the call was quickly answered by a bubbly and friendly phone operator who was able to answer our basic questions.
Home Finance of America has a great FAQ page found here: http://hfamerica.com/faq/
Upside
- 24 Hour Approval Process
- Savings and benefits for certain service professionals
- Ability to lock in interest rates
- Direct lender
- 100 loan programs
- Some no fee loans
Downside
- 100 loan programs are advertised as being offered, but we could not find a complete list on the site
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