RP Funding is a mortgage bank with operations in ten states. RP Funding offers numerous mortgage programs including conventional, jumbo, non-owner occupied, FHA, USDA, no closing cost mortgage and after purchase mortgages. RP Funding is a FREEandCLEAR Technology All Star.
RP Funding offers an online mortgage application
RP Funding offers the following loan programs: Conventional, Jumbo, Non-Owner Occupied, FHA, USDA
RP Funding is licensed in Alabama, Arkansas, Florida, Kentucky, Mississippi, North Carolina, Ohio, Oklahoma, Tennessee, Texas
23 hours ago If it sounds too good to be true, trust me it is. My husband and I just suffered the worst experience with RP FUNDING. We made it clear before going through with preapproval what we had to spend in purchasing a home. Loan officer made it clear he could make it happen. After sending all financial information as requested, we were preapproved. We spent the next month looking and finding our near perfect home. Before making an offer we inquired about what fees we would be responsible for if they were paying closing costs. We were told 3.5% down and the rest would be decided during processing the loan. Two other offers came in on the house. Our realtor suggested rather than offer more than asking we increase our down payment and shorten deadlines for inspection, appraisal and closing. We unfortunately trusted his advice but in return our offer was accepted. After multiple texts, emails and phone calls we finally received a fully executed contract in 7 days not 48 hours. We arranged inspection 3 days later, paid for appraisal and met our deadlines. We continued to question fees through unanswered phone calls and emails. After receiving the initial closing disclosure we confronted loan officer and explained fees were way over the budget we originally discussed only to be told it was still in processing and would be decreased. We explained at that time the financing may be out of our reach. Weeks went by with unanswered phone calls and emails. Three days before closing we finally got the final closing costs which were thousands more than anticipated. Loan officer suggested we borrow from family or pay fees with equity established during appraisal. Neither were an option and we decided to cancel contract. We signed a cancellation of contract. Neither our showing agent , listing agent or seller were notified. Everyone, but us, continued with plans to close. Now due to no fault of ours, we are being asked to sign a document releasing our deposit to the seller. We already have no way to recoup inspection and appraisal fees, but let's add salt to the wound and take our deposit for doing nothing wrong but trusting an incompetent lending company. We are the victims and being punished for circumstances we had no control over. We have purchased 2 other homes in the past and never dealt with anything like this. You may not pay closing costs, but trust me, they get paid back through their fee . Lesson learned!! It's worth waiting until you save the extra money to pay closing than be misled and ripped off by false advertisement