Consumer complaint received 2021-01-29
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — 
Company: United Military Mortgage, LLC (TX)

This complaint is against Low VA Rates, LLC of Utah as well. Low VA Rates is organized and existing under the laws of Colorado. The common denominator here is, both mortgage companies use mortgage servicer, XXXX XXXX XXXX, XXXX of XXXX, Nevada. After reviewing some of my loan documents, I will be pointing out some concerning issues that do not add up and need further investigating by state and federal authorities alike. 

On XX/XX/XXXX, I spoke with a XXXX XXXX, XXXX XXXX, of Low VA Rates, LLC. He could not approve me for a mortgage loan because of my low credit scores. ( Scores attached ) The next day, XXXX XXXX, XXXX XXXX, of Low VA Rates, LLC, contacted me and became the loan originator. 

I am a 100 % XXXX XXXX XXXX veteran after serving in XXXX in XXXX. XXXX XXXX. I have been at this rating since XX/XX/XXXX. This rating exempts me from different mortgage loan fees. From the very beginning, my XXXX income and my Certificate of Eligibility were provided to Low VA Rates, LLC. Nothing should have gone into any escrow. 

In XXXX of XXXX, my VA XXXX amount was {$3100.00}. My social security XXXX for the same month was {$1100.00} for a total of {$4200.00} ( XXXX award letters attached ). But on a loan document, Low VA Rates, LLC submitted that my total income was {$5000.00} which is incorrect. ( Loan document attached ) On XX/XX/XXXX, after the underwriting was completed, I received a pre-approval for {$240000.00}. ( Copy attached ) On XX/XX/XXXX, I mailed my {$1000.00} earnest money check # XXXX to XXXX XXXX in Utah. ( Copy attached ) The appraisal came in at {$230000.00}. The listing price was {$220000.00}. Minus the {$11000.00} discount. ( Picture attached ) The home builder is an XXXX veteran and was very generous to give me an {$11000.00} discount/credit. Low VA Rates, LLC did everything possible to run up the loan amount to the pre-approval amount of {$240000.00} by charging me {$10000.00} in closing costs, paying off two old collection accounts that did not need paying off and financed me at 6.25 % interest rate and 6.399 % APR. PREDATORY LENDING! ( Loan Estimate Attached ) My credit score did not change when I refinanced on XX/XX/XXXX with Vintage Lending at 2.75 % so it is CLEAR that I was eligible for a lower interest rate when I originally closed on my home loan with Low VA Rates, LLC. On a VA home loan that is backed by the federal government. ( XXXX XXXX closing documents attached ) On XX/XX/XXXX, we closed on the VA home loan. ( XXXX XXXX Documents attached ) The attached AMORTIZATION SCHEDULE states that my mortgage payments were to be {$1400.00} for the entirety of the home loan. That is not what happened. The payments are as follows ; ( bank statements attached ) 1. XX/XX/XXXX - {$1900.00} 2. XX/XX/XXXX - {$1500.00} 3. XX/XX/XXXX - {$1500.00} 4. XX/XX/XXXX - {$1500.00} 5. XX/XX/XXXX - {$1500.00} 6. XX/XX/XXXX - {$1500.00} 7. XX/XX/XXXX - {$1500.00} 8. XXXX XXXX with XXXX XXXX XXXX XXXX XXXX Lending 9. XXXX XXXX with XXXX XXXX XXXX XXXXXXXX XXXX Lending 10. XXXX - {$1000.00} 11. XX/XX/XXXX - {$1000.00} On XX/XX/XXXX, I emailed XXXX XXXX with Low VA Rates, LLC to inquire about refinance interest rates he was offering because I was interested in lowering my mortgage payment from {$1000.00}. ( Email conversation attached ). XXXX replied with bad news that Low VA Rates, LLC could not refinance me again. They did not pull my credit nor produce a loan estimate. There is a real good reason why a mortgage company is passing up on another {$9000.00} in closing costs. After other research, it is clear they could not refinance me again because of the negative equity hole they have placed me in, and the Department of Veteran Affairs would not approve this IRLLL.