Consumer complaint received 2016-11-27
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: SUMMIT FUNDING, INC. (CA)

On XXXX XXXX, XXXX I had an appointment with XXXX XXXX XXXX ID # XXXX the Senior Loan Officer at Summit Funding Inc. The Home Loan Experts located at : XXXX XXXX XXXX XXXX XXXX. XXXX. XXXX XXXX XXXX XXXX. 
I was referred to XXXX XXXX from XXXX XXXX a local real estate agent for XXXX County. I met with XXXX XXXX on the morning of XXXX XXXX XXXX. I explained to her that I had a house in mind that I wanted to purchase for {$240000.00} in the XXXX area. She ran my credit, my scores came back as XXXX and XXXX. I have {$25000.00} cash in my checking account. I currently work for the State XXXX as a XXXX XXXX. I 've been employed with the State XXXX for 6 1/2 years. I gross {$4500.00} a month with a supplemental overtime check which varies between XXXX {$3500.00} monthly. I felt that was more than enough income to qualify for a FHA, XXXX or Conventional loan. 
XXXX XXXX stated that I did n't qualify for a home loan through FHA, XXXX OR CONVENTIONAL, that my mid credit score needed to be XXXX or higher, for down payment assistance?? she said my income was n't enough and my overtime check could n't be used as part of my income, she told me I had to wait until XXXX XXXX for my 15 % pay increase and that I need to build my credit more. She told me to take my {$25000.00} cash and pay off my truck with it. Keep in mind I have neither credit cards nor a mortgage or rent payment ( s ). The only debt I have is a {$630.00} truck payment. I do have student loans debt but I explained to her that I was part of the student loan forgiveness program which I qualify for due to my profession in law enforcement. She stated that she had to put my payments a month as {$800.00}. I explained to her my monthly payment is {$100.00} a month for 120 months then the rest is forgiven /wiped clean. She asked me for proof I told her I can get it but she did n't want to listen, she just blew me off and told me to re visit her in XXXX, I was livid. I even asked if my mother could co- sign for me due to the fact her credit was stronger than mine, she said No! That she does n't like co- signers and that I should do it on my own. That my mom would only make a 1 % difference in me getting a loan???? 
I told her that by XXXX XXXX the house would be gone she agreed and told me that the housing market is up and down and that something else would come up in XXXX, I explained to her that nice houses are scarce here in XXXX XXXX. and hard to find, that I did n't want an expensive house, she just blew me off and asked me to come back next year. I left upset and dissatisfied. 
In speaking with XXXX under the age of XXXX fellow officers, XXXX to be exact, who has less than 2 years in the department they stated that XXXX XXXX gave them all loans for houses in the XXXX area, I was furious ; I feel that XXXX XXXX is a XXXX and discriminated against me due to the fact I 'm XXXX. XXXX is a small rural area with a predominantly XXXX population. Also keep in mind Summit Funding is supposed to be XXXX State Employee friendly, this was n't the case for me. 
Lastly, in reviewing Summit Funding website it shows to qualify for the following FHA loan a credit score of XXXX, Conventional credit score of XXXX score and XXXX credit score of XXXX score are needed. My median score was XXXX. Why I was denied still baffles me to this day. I 've found a house in the XXXX. area that I will be purchasing through a different lender, I 'm hoping this complaint letter against XXXX XXXX makes its way to the proper person to deal with her and her discriminatory ways.