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Finance of America Reviews: 2023 Edition

What is Finance of America?

Finance of America is a well-respected mortgage lender that has been in business since 1994. It is one of the largest and oldest lenders in the US and is headquartered in Charlotte, North Carolina. They are a full-service lender, offering products to meet the needs of almost any borrower, including conventional, government, and non-conforming loans. Their goal is to provide the best customer service and the lowest rates available.

What Are People Saying About Finance of America?

When it comes to reviews, Finance of America is one of the most highly rated mortgage lenders in the US. On the popular review site Trustpilot, they have earned an impressive 4.5-star rating from nearly 3,000 reviews. Customers praise the lender for their helpful customer service and competitive rates. Most of the customers who left negative reviews complained about difficulty getting the loan process completed in a timely manner.

What Makes Finance of America Unique?

Finance of America is unique in its ability to offer a wide range of products to its customers. Their selection includes conventional, government, and non-conforming loans, as well as jumbo, FHA, VA, and reverse mortgages. They also offer a wide variety of loan terms, ranging from 10 to 30 years. With such a wide variety of products, it is easy to find the loan that best fits your needs.

What Are the Disadvantages of Finance of America?

The biggest disadvantage of Finance of America is the amount of paperwork and documentation required to get a loan. It can be quite time-consuming and tedious, and is often much more than what is required by other lenders. Additionally, the approval process can be slow, as the lender needs to verify every detail of your application. This can lead to delays in getting your loan approved.

Conclusion

Finance of America is a great option for those looking for a full-service lender that offers a wide variety of loan products. They have an excellent customer service team and offer competitive rates. The only downside to using Finance of America is the amount of paperwork and documentation that is required to get a loan. But if you are willing to put in the extra effort, Finance of America is a great option to consider.