Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #13249553
Complaint Overview
Complaint ID: 13249553
Company: Rapid Home Lending INC.
Product: Mortgage
Sub-Product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-Issue: Loan estimate or other related disclosures
State: Arizona
ZIP Code: 85254
Date Received: 2025-04-29T12:00:00-05:00
Date Sent to Company: 2025-04-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/year>, I spoke by phone with two representatives from a company identifying as Rapid Home Lending regarding a VA XXXX refinance loan. During the call, I was verbally offered a 1 % interest rate reduction and a new monthly payment of approximately {$4300.00}. However, I was told this would require over {$17000.00} in " no-cost '' fees to be rolled into the new loan balance. At no point during or prior to the call was I provided a Loan Estimate, itemized fee breakdown, or any written documentation outlining the cost structure. Near the end of the call, after reviewing verbal terms, the representative attempted to obtain my Social Security number to pull credit despite not having provided any formal disclosures or documentation beforehand. This was framed as just one more step, which I found to be a high-pressure and inappropriate tactic. I declined to move forward with the refinance and followed up via email expressing my concern. The company did not acknowledge the lack of transparency or documentation but continued to justify their approach. I asked not to be contacted again and they emailed once again. I am filing this complaint because I believe their practices were misleading and potentially predatory, especially given that this was a VA-backed loan refinance offer. The process lacked upfront transparency, and the attempt to obtain sensitive information without proper disclosures undermined my trust.
Frequently Asked Questions
What is Complaint #13249553 about?
Complaint #13249553 was filed against Rapid Home Lending INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2025-04-29T12:00:00-05:00.
How did Rapid Home Lending INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Rapid Home Lending INC.?
Yes, visit the Rapid Home Lending INC. company profile at readthecomplaint.com/company/rapid-home-lending-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.