Consumer complaint received 2023-03-08
Company: NVR INC.
State: OH
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
NVR Mortgage XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, OH XXXX | XXXX XXXX XXXX XXXX XXXX XXXXXXXX ) XXXX Fax XXXX XXXX XXXX XXXX XXXX XXXX  # XXXX Our loan paperwork originated on XXXX. Our house sale price was listed at {$370000.00}. We were told that NVR would cover $ XXXX of closing costs. We were listed at 2.5 % loan/points. 
We locked our rate in at XXXX on XX/XX/XXXX and our documents state they would still over $ XXXX in closing costs. We were then listed at 2.875 % loan points. Sale price is now {$370000.00} On XX/XX/XXXX we met with the project manager and the realtor. She mentioned the $ XXXX we had put down and another {$5600.00}. I told her we could pay that the next month and was told " not a worry at all. We'll just do an addendum that you're putting down $ XXXX '' at no point were we told we would be penalized if we did not put down {$5600.00} more on the loan. Bringing the total down payment to {$22000.00}. I offered to pay that additional {$5600.00} twice and was told not to worry about it. 
XX/XX/XXXX rate is locked at XXXX. Our sale price went to $ XXXX. Loan officer said she needed to roll $ XXXX in closing to the loan- explanation as " the feds require ... '' and some information that made no sense, but we didn't want higher closing costs so I agreed. We are still at 2.5 % loan/points. XXXX XXXX is now buying down our interest for the first year at {$8500.00}. We are no longer getting the $ XXXX in closing costs they promised. It's reduced to {$1900.00} when questioned I was told they could not do both- however ; no one told us that. I had to ask and inquire. At this point I questioned why are closing costs were {$19000.00}. I was told it was because we did not put down the full {$22000.00}. 
I mentioned I had offered to pay the additional XXXX many times and was told I did not need to. I asked if we paid that amount if our closing costs would decrease- the loan officer said yes. I sent an email to the realtor on XX/XX/XXXX stating that we wanted to put down another {$5600.00}. She told me that they were under construction and could not take funds. I could bring them to closing. I forwarded that email on XX/XX/XXXX to our loan officer. She replied with " Ok, no worries. '' On XX/XX/XXXX I received closing disclosures. Our cash to close was listed at {$17000.00}. 2.5 % loan/points. Our deposit was listed at $ XXXX. Our loan officer called me on Saturday XX/XX/XXXX at XXXX. and we went over the closing costs again. I asked why it was listed at {$17000.00}. Shouldn't it be XXXX transactions? One for the {$5600.00} towards and one for the closing costs. She indicated it was all together. But that the closing costs were near $ XXXX and the rest would be the {$5600.00} towards our deposit/loan. I sent an email to our loan officer on XX/XX/XXXX at XXXX XXXX  " Just to confirm the other {$5600.00} is going to the loan and the remaining amount is our closing fees. Which brings our down payment to {$22000.00}. correct? She replied on XX/XX/XXXX at XXXX XXXX  " Yes that's correct ''. 
On XX/XX/XXXX at XXXX XXXX  I emailed the loan officer again- asking if the cash to close was still {$17000.00} and if that included the {$5600.00} we wants to bring to closing. '' she responded on XX/XX/XXXX at XXXX that our cash to close was still that amount and when to wire transfer, because we were closing on a Monday. 
On Friday, XX/XX/XXXX at XXXX XXXX  our loan officer called to let me know my husband needed to login to NVR 's portal and sign a document. I again then asked her about the closing costs. She indicated she just walked in the door and needed to restart her computer. She called me back and we discussed the closing costs and she brough up " you guys didn't do the full {$22000.00} in the beginning. '' I reminded her of the emails and the confirmation that we could pay the extra {$5600.00} and wanted to pay that in XXXX and were told to bring it to closing. '' she was very short with me and had no real answers. She said she could call underwriting and see if we could bring another {$5600.00} on Monday- which I told her was not happening. I had already indicated we wanted to do the extra {$5600.00} multiple times and I had her emails saying we could and that they would be applied. There was no resolution. She basically had no real answer and was very annoyed that I was questioning her. She also indicated- per the documents we received in our closing paperwork. Our payment would be XXXX We closed on XX/XX/XXXX at XXXXXXXX XXXX XXXX. During the closing our documents only noted a $ XXXX deposit. When I told the notary that it was incorrect she told me to call the loan officer. We also were told our house payment would be {$2700.00}. 
We signed the documents. Quite frankly we had movers coming in less than 24 hours and our home was sold. I felt like we had no choice at that point. I left very upset and confused, but we received the keys to our new home. As I've had time to process and look back through emails and documentation I feel like NVR was completely misleading. They did not cover the closing costs they initially said they would cover- and never indicated when that changed. When asked it was simply " we can't do that anymore. '' They added $ XXXX to our home loan for reasons I never understood and they did not appropriately allocate funds the way I asked to be over and over again and had confirmation of. I feel like we were mislead and overcharged. We also locked in the rate at XXXX on XX/XX/XXXX and then in the next document it was changed to 7.35 %. 
There are a few documents in the NVR portal that say " error won't load '' that I can not even retrieve at this point.

Company response to consumer: Closed with explanation