Mortgage -- Closing on a mortgage -- Complaint #6444195
Complaint Overview
Complaint ID: 6444195
Company: Homestar Financial Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: Georgia
ZIP Code: 305XX
Date Received: 2023-01-16T12:00:00-05:00
Date Sent to Company: 2023-01-16T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We applied for mortgage to pay off a construction loan with a local Bank. The mortgage company sent us the closing disclosures showing we were approved for {$130000.00}. This was on XX/XX/2022. The closing date was set for XX/XX/2022. On XX/XX/2022 they were still approved for {$130000.00}. When they got to closing they were only given {$100000.00} which was the payoff on the construction loan. But when we found out we called the mortgage originator that we were approved for the {$130000.00} and that part of that was to pay our closing cost. We asked why the change from XX/XX/XXXX to XX/XX/XXXX. We were told a new underwriter decided this. We requested that we speak with the underwriter but were told they were not available. We told them we had no funds for the closing cost so then the agreed to increase the loan to {$110000.00} to cover those cost but not the {$130000.00} we were told we were approved for. We asked how this could be fixed and they told us that we would have to start all over again and wait another 6 months before we could close again. Since the interest rates were rising we chose to close although it was not for the amount we requested and were told we were approved for. We are asking assistance for this if possible. We feel that we were not treated correctly. Please advise.
Frequently Asked Questions
What is Complaint #6444195 about?
Complaint #6444195 was filed against Homestar Financial Corporation regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2023-01-16T12:00:00-05:00.
How did Homestar Financial Corporation 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 Homestar Financial Corporation?
Yes, visit the Homestar Financial Corporation company profile at readthecomplaint.com/company/homestar-financial-corporation 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.