Consumer complaint received 2015-09-29 00:00:00
Product: Mortgage — Conventional fixed mortgage
Issue: Settlement process and costs — 
Company: Eagle Home Mortgage, LLC
State: TX

Complaint narrative:
The Builder and I agreed to the purchase price of {$420000.00} and the builder offered to give a XXXX % incentive and Title fees ( Approx. {$12000.00} ) towards the closing cost and title fees provided, I finance through their in-house lender, Universal American Mortgage Company. 

The Good faith estimate showed the {$12000.00} credit but the interest rate charged was 4.25 %, whereas based on my credit score of XXXX, I am eligible for interest rate of 3.75 %. The lender structured the loan by rolling the closing cost and title fee and increasing the interest rate by 0.50 %. ( Which is exactly equivalent to 3 % premium amount of the loan ). The lender is trying to recoup the incentive amount by increasing the interest rate. When I brought this up with the builder, he was not ready to listen to my argument and referred back to the contract. He also refused to return the earnest money of {$4000.00} if I wish to cancel the contract. 

The Earnest money of {$4000.00} was paid on XXXX/XXXX/2015 to the builder towards the property located at XXXX XXXX XXXX XXXX, XXXX TX XXXX and the purchase contract was executed on XXXX/XXXX/2015. On XXXX/XXXX/2015 I received 'cash to close summary ' from lender for which I did not agree and objected on the same day. Since then I 've been talking with builder 's representative XXXX XXXX and Lenders representative XXXX XXXX expressing my concerns and repeatedly asking to have my concerns escalated to their management and to explain my rights of cancellation options. They never escalated anything to their management nor explained to me, either verbally or in writing my right to cancel the contract. 

Finally, on XXXX/XXXX/2015 XXXX ( VP Sales ) contacted me at XXXX XXXX, I explained to him the whole situation and told him that even if I was to go with any other lender and ask them to structure my loan in a way that I do not have to come up with any closing cost out of my pocket, they would offer me the same loan that Universal is offering me, in other words I am not seeing any credit that XXXX is promising me to pay. I also stated that if they can send me an email stating that the " Entire incentive amount offered by XXXX is being applied towards my closing cost and ; none of my funds whether in the form of cash or premium are being utilized on life of the loan? '' to this he responded by saying, that 'he is not obligated to do that since i have already signed the contract with them ', further he threatened me that I am in breach of the contract. XXXX 's representative wasted time escalating to their management and now they are trying to hold me responsible. I was under the impression that once I get hold of any senior management person that person would listen to my concerns and help me, or at the least be courteous, however I was wrong ; instead Will was very rude on phone and threatened me.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation