Consumer complaint received 2026-01-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: SOFI TECHNOLOGIES, INC.
State: MD

Complaint narrative:
My fiancee and I entered into a home purchase with financing through XXXX. We went under contract on XX/XX/XXXX and XXXX would have been provided with the address of the property that day. Our scheduled closing date was XX/XX/XXXX. 

The initial price disclosure sent to us from XXXX on XXXX was a 6.625 % interest rate with {$0.00} points. 

On XX/XX/XXXX ( XXXX  days before close ) XXXX sent a revised disclosure repricing the home as a condominium rather than the townhome pricing they had provided previously, and that we had rate locked. This change was based on an appraisal that XXXX ordered at their own discretion, which was dated XXXX. 

On XX/XX/XXXX the XXXX representative that I was in communication with told us that townhome pricing would be restored if we were able to provide a document proving that the land is included in the assessed value of the home. That evening I emailed the Maryland XXXX 's property data report that included the land as part of the base value of the property. 

On XX/XX/XXXX ( XXXX  days before close ) XXXX restored our loan pricing based on the XXXX document and we re-locked our rate based on the townhome classification. 

On XX/XX/XXXX ( XXXX days before close ) XXXX called and told us they were reverting to condo pricing based on the title docs that they had just received. I no longer have access to the portal, but the condo pricing was ~ {$1800.00} of additional points to remain at the same 6.625 % interest rate that was provided in the XX/XX/XXXX disclosure. As well as a ~ {$400.00} XXXX Report fee. So the overall cost impact to us was {$2200.00} XXXX days before closing. 

On XX/XX/XXXX ( 1 day before closing ) after many calls with our XXXX XXXX and his XXXX, XXXX agreed to lower our point buy down from ~ {$1800.00} to {$930.00} as well as removing the {$400.00} XXXX Report fee based on their mishandling of the situation. I was not interested in buying points and asked if I could take an equivalent higher interest rate instead, and our loan XXXX and his XXXX told me that there was not enough time to make that change before closing. We ended up paying the {$930.00} on our XX/XX/XXXX closing. 

Overall, the townhome vs condo classification is quite complicated in our case. We are responsible for the interior/exterior walls of the home, the plumbing to the main line on XXXX XXXX, and the land is classified by XXXX as part of the property value, which are all typical properties of a townhome. But the development is technically governed by a XXXX XXXX rather than a HOA. This complication is proven by the fact that XXXX days before close XXXX adjusted our pricing from XXXX to XXXX. Regardless of the classification, XXXX changing the loan terms so close to the closing date removed our ability to comparison shop or seek alternative financing. Switching lenders at that stage would have required delaying or cancelling the purchase and potentially losing the home and our XXXX money deposit. XXXX 's last minute actions undermined the purpose of a loan disclosure which are intended to give borrowers time to evaluate/shop their loan. 

I've attached our Final CD as proof of the {$930.00} of points paid at closing as well as the email chain from XXXX proving XXXX reclassified XXXX townhome pricing XXXX  days before closing. Unfortunately most of the conversations between XXXX occurred over the phone due to the urgent closing date, so I do not have an email chain to attach. If there is any other relevant documentation that I can provide, please let me know.

Company response to consumer: Closed with explanation