Consumer complaint received 2023-09-03
Company: DHI Mortgage Company
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage
Sub-issue: Changes in loan terms during or after closing

Complaint:
DR Horton Mortgage in XXXX Texas denied my access to loan product that I was highly qualified to receive. The loan offers withheld my application know the following facts, 1. I was moving from XXXX to XXXX to purchase a home and I was on a extreme time limit. 2. I was a first time home buyer with limited experience in the home buying process. In addition, to being a first time home buyer, I was a women buying a home alone, with no experience.

The lender told me several times I am highly qualify for a conventional loan and allow me to fill out a conventionak loan application on XX/XX/2022. I expressed in writing and verbally multiple time the loan products, I wanted to apply too. I told officer, I was not interested in a FHA loan, and wanted a conventional loan using the XXXX XXXX XXXX XXXX XXXX or the XXXX XXXX XXXX XXXX. I signed my conventional loan prepare escrow documents on XX/XX/2022. The house was scheduled to close on XX/XX/2022. The lender accepted my application and proceeded to ask for additional supporting documents, like work from home document on XX/XX/2022 and processed my earnest deposit on XX/XX/2022. However, my lender withheld my mortgage application for weeks and often called in to check my progress. Without warning around the week of XX/XX/2022, I was told the lender could not offer my a conventional loan and would only give me FHA Loan. I asked why several times and was told the conventional loan application could not be processed and the system rejected my application. Knowing that I had a deadline to move from XXXX to XXXX with a small child by XX/XX/2022 due to my job, the mortgage company played that card to their advantage. After request a review of my application by a supervisor, I was denied a conventional loan. I was also told to sign the paperwork for an FHA loan by Friday, or I would lose the house. They were not willing to give me time to find another lender. I immediately drove to XXXX to try to resolve that issue and to my dismay, after several discussions, was forced into a FHA loan application. I was never given evidence of why my application was denied or what was root issue. After signing the FHA loan application, my mortgage was approved with 5 business day. I felt like they took advantage of my clean reputation, great score, low debt to income, now credit issues. I was forced into a product I did not want. 
Therefore, I am requesting evidence as to why my conventional loan for XXXX XXXX and XXXX XXXX applications was denied. I am also requesting copies of all my papers work processed during my application period with loaner by certified mail. 
After forcing me into a FHA loan, knowing I had no other housing options at the time, the lender try to offer me additional incentives like 3 years of 1 % interest rate. 
Lastly, I spoke with several of my neighbors, how also had similar issues with this lender and their application process. They described the whole situation as a nightmare and that the lender to advance of they fact that they were all 1st home buyers.

Company public response: Company believes the complaint provided an opportunity to answer consumer's questions
Company response to consumer: Closed with non-monetary relief