Consumer complaint received 2021-07-15 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — 
Company: VANDYK MORTGAGE CORPORATION
State: TX

Complaint narrative:
I recently had a very bad experience with a lender who works for VanDykMortgage. 

We chose XXXX XXXX to be our lender. After the horrible experience we had with him a lot of interesting things came to light about XXXX which I think are important to share to make sure something like this never happens again. XXXX originally promised us a conventional loan. Opposed to the other lenders I spoke to, this made him the better choice because it made us more competitive in this market. As we began the process of collecting information to make sure closing happens, things started to delay just one week in. I remember asking XXXX for updates and he told me over the phone that we will most likely have to delay closing for 2 weeks but there is no need to worry yet and to please not mention this to my realtor. That to me was very weird that he was asking me to keep a secret from my realtor and I started to worry why things would be held up. I told my realtor about this and she was very confused why when there were still weeks left before the scheduled closing date that XXXX was already saying we would have to delay. XXXX then finally notifies us that we can not do the conventional loan because we do not qualify for down payment assistance because my husband makes too much. This was about 2 weeks in. My realtor questions him and asks how is this information only coming up now since we provided our income from Day 1. XXXX says a lot of words but does not answer the question, this was his method of avoiding answering questions directly. He tried to say because my husband had a bonus but this was only an additional {$3000.00}, so it did not affect our income greatly. My realtor, XXXX then asks him are you sure my clients will qualify for down payment assistance in XXXX XXXX under an FHA loan, since this is what he was proposing to do now. XXXX said 100 % without a doubt we would qualify. XXXX even specifically re asked him are you sure, because I looked it up and it says for XXXX XXXX the income cap is XXXX, they make more than that. He once again assured us we would qualify without an issue. But because we were switching, closing would be delayed by 2 weeks. The sellers were not very happy with this because something like this causes a domino effect. Because of that they refused to give us the {$1000.00} they agreed to give us towards fixing things around the house. I told XXXX this is his fault since he made the mistake and the delay is happening because of him and he needed to make sure that we get a {$1000.00} credit. After several more conversations with XXXX he tells me we can close on XX/XX/XXXX, earlier. The original closing date was XX/XX/25, then it was postponed to XXXX. On XX/XX/XXXX I get a phone call from XXXX. He tells me our application was denied for down payment assistance because we make too much. As you can imagine my reaction. I am a XXXX  mother with XXXX XXXX. We have already put in our 2 month notice in our apartment, and the apartment complex already found tenants. We can't stay in our apartment. XXXX tells me I need to find {$9000.00} to close. I asked him XXXX specifically asked you if we would qualify and you said yes. He tried to slither away from the question saying there was no way of knowing about this because XXXX is a big area. I told him she specifically asked about XXXX XXXX and mentioned exactly the income cap. He then lies and says he does not remember the conversation. We had put down {$6200.00} of earnest money and option fee and I told him because of him we would lose this money. To which he provided more misinformation and said I would not lose it. He then said we should try to get an USDA loan but that would take even more time, to which I replied we are not doing business with him. Luckily I was able to find a more professional lender, that seemed to be able to pull off everything XXXX tried to do in a month, in a WEEK. As I told people my experience with XXXX, more information about him came up. I believe this is not the first time he has done something like his. A lot of people in the real estate community know of XXXX the social media lender guy who makes promises, lies but does not follow through with anything he does. People also have said he switched companies often, which to me is a big red flag. After he told me that we would not qualify he then blocked my husband and I on XXXX, which to me is another red flag and shows me he has done this before. Not to mention when my new lender contacted XXXX to transfer the appraisal, XXXX admitted to him that we would have never qualified for a conventional loan to begin with, it is what just helped us get the offer. So, to summarize for you .... XXXX knew from the start we would never get a conventional loan with down payment assistance. He lied and told us we would so we would chose him over the other lenders. And it worked. He knew from the start we would have to switch to FHA and that is why immediately he said we would have to delay for 2 weeks. He was buying time. Then when he started to process the FHA loan- I believe one of 2 things happened. When XXXX asked him if he was sure would qualify he either knew we wouldnt and was lying again, or he lied and said he knew without a doubt we would get it and just did not check. I think he was trying to put us in an impossible situation where we had no choice and would have to somehow magically pull up {$9000.00} out of thin air, knowing if we don't we will lose not only the house but our earnest money. XXXX XXXX left my family and I in a horrible situation where we almost lost a large sum of money, lost our house, and would have had to desperately search for an apartment last minute. I hope he does not do business with any family ever again. He lies and does not care how many people he XXXX over and throws under the bus along the way. 

Thank you for taking the time to read this.

Company response to consumer: Closed with explanation