Prime Choice Funding, Inc. | NMLS 117375

Grant Speer

I had an amazing experience with Kara Ramage as my loan officer and David Arnold as my processor. I notified them that my offer to buy a home got accepted because of the rapid timeline I offered the seller and the PCF team gave me the clear to close in 20 days! Kara and David utilized communication and experience to give me insight to the buying process as a first time home buyer. Kara coordinated the necessary steps, timelines, and transaction documents while David coordinated the key, nitty-gritty, details during the underwriting process. Since I was new to the buying process, I had many mistakes. Kara and David worked with me to get the job done right. 10 out of 10 service from PCF. I am going to recommend them to my friends and family.

Izabela Milanov

THIS IS BY FAR THE MOST DECEITFUL COMPANY I HAVE EVER DELT WITH IN MY LIFE! I decided to apply for a bank statement loan and filled out their online form. I immediately got a call from Todd Nedden. He asked me how much I had in deposits in 2021, I told him around $70k and that we wanted to make a down payment of around $200k. Based on this, he issued a prequalification letter for a PURCHASE PRICE OF $600K BASED ON MY INCOME ONLY. We used this to submit several offers up to $550k. When our offer was accepted, I contacted Todd to proceed. He asked me for my business bank statements and we decided to add my husband’s income just in case. The underwriter issued conditional approval a few days later. In the meantime, the appraisal came in low at $490k, so the loan processor, Bob Linn wanted us to renegotiate the price, otherwise we would need additional $55k for closing. Since we were making a large down payment, I did not understand why we would need an additional $55k, so I asked him to break it down for me. His response was beyond ridiculous (quoting below): • How the loan is currently set up: o Purchase price: $545,000 o Loan amount: $381,500 o Gross down payment: $166,000 o Appraisal shortage: $55,000 o Net down payment: $221,000 Even a third grader can see that based on this calculation, we would be paying $602,500 for a purchase price of $545,000! I don’t know how someone who lacks basic math skills can work as a loan processor, but that was far from the biggest issue. I spoke with Todd, he assured me that we would have enough cash even if the seller refuses to renegotiate the price. We did renegotiate the price, and the seller agreed to reduce the price to $525k. I informed Todd, he restructured the loan, assuring me once again that we would move in shortly to our new home (his exact words). Closing was scheduled for March 18, so on March 15 I contacted them to see if we were clear to close. Todd said he would contact the underwriter for an update. He got back to me saying that the underwriter claims that my husband did not have any deposits since August, so his income cannot be included. That is absolutely not true, I downloaded my husband’s statements and highlighted all the deposits he had since August, proving that the underwriter is clearly wrong. Once this was received, they asked me for a letter from our CPA confirming that he has been self-employed as a driver for at least two years, which I promptly provided. Later that day, Todd informed me that the underwriter rejected my husband’s income. However, he told me not to worry because we can still do the loan based on my income only. The whole process was becoming very ridiculous, but I decided to go through with it because we had already spent thousands of dollars on inspections and appraisals. I asked him for the exact numbers they were using because I wanted to double check the math. It checked out and I was convinced the loan will be approved. The seller refused to extend the closing date, so I asked Todd to issue full approval by March 18, otherwise I would have to walk away. Even at this point, he was trying to convince both me and the LA that we can close next week. On March 18 (closing date), he waited until the last moment to tell me that the underwriter denied the loan because we did not have enough income and reserves! All bank statements were submitted at the very beginning and it should have been clear whether the income is sufficient or not! There have been no changes in our situation since the start of the process, so there is absolutely no justification for the denial after conditional approval! THE WORST THING IS THAT THE SELLER IS NOW REFUSING TO RELEASE OUR ESCROW MONEY ($15K) BECAUSE SHE CLAIMS WE HAVE BEEN MISLEADING HER THE ENTIRE TIME! THESE PEOPLE ARE EITHER ABSOLUTE AMATEURS OR THEY ARE INTENTIONALLY LYING, BUT TRUST ME, THIS COMPANY DOES NOT DESERVE A SINGLE MINUTE OF YOUR TIME, LET ALONE YOUR BUSINESS!

Kevin Bachman

This is the third loan I have done with Scott and Prime Choice Funding. All i can say is, AMAZING. Every aspect of the process is handled with the utmost professionalism blended with real compassion. Scott never failed to listen to my need, concern or, even want. He was able to deliver on any he could...which was most of them. I am very grateful and will be back again for all my financing and refinancing needs.

DrKenRichmond

My decision to contact Todd when my refinance opportunity came up was an easy one. He maintained a relationship with me as a potential customer which I appreciated. Working with his dynamic, highly communicative duo, Julie, was an added touch. I enjoyed working with both of them. You will too!