This is not a sponsored post, lol.

So, yesterday I was blabbering on about how we got the home equity loan, right? Well, it reminded me of something that I found to be funny.

It actually took us about a month to officially get the loan. I started out shopping for somewhere to go and talking to people in October. I applied with several places online including lendingtree.com and got three offers from that. Well, I think we actually got four but one of the responses was, “uh, we have had technical difficulties and your info never made it into our computers, because we’re completely inept, please call our offices…” Yeah, like that’s going to happen. Denied!

I also applied at ditech.com and was told, get this, that the amount we wanted to borrow was too small. Apparently you have to borrow at least $25k from them. (And there you have it, our debt is, indeed, lower than $25k!) The guy called when I didn’t respond to that (I was laughing too hard) and tried to talk me into combining our house and the loan. Of course, we’d already decided we weren’t going to do that. I also laughed at one company that told us the interest rate was higher for a 10 year loan, didn’t we want a 20 year loan?

So there were two other companies that I looked at very closely at until I applied with our own bank. I was VERY surprised to find out they had the lowest interest rate and they’re the one we ended up going with.

So, my point. There’s a company called The Mortgage Store based in St. Louis that I hear on the radio ALL. THE. TIME. The DJs on my favorite station swear by this place, that they have the best rates, service, etc. So I applied online with them. Then I forgot about them until a few days after we signed with our bank when I got something in the mail from them.

They were denying us a loan a month after I applied on the basis that our credit scores were too low!

I sat there and laughed and laughed and laughed. Granted, our credit did drop a bit while we were on the debt management program, but our scores are still by no means low. I’d take a guess and say that our scores are still on the above average side. Not to mention, everyone else we applied with accepted us right away. So, what’s the deal?

I guess they’re just that disorganized. It took them a month, a month! to even acknowledge our application.

So I thought that was funny, very unprofessional. If you remember me complaining in July about another loan company not being confidential with my email address and sending me forwards, I apparently forgave them and even applied there again and even they handled things way better this time. They were our third choice, and for the record, that was Vinson Mortgage Group. Either way, I won’t be looking at The Mortgage Store for anything now, if nothing else, they’re too slow! :P