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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

HomeLoanServ

Finanso.Multilogin™

About HomeLoanServ

HomeLoanServ is a loan servicing business for mortgages. It is responsible for managing loan services, keeping track of interests and payments, and responding to homeowner’s queries. As compared to other loan servicers, Homeloanserv leads and manages the loans. HomeLoanServ is dedicated to assisting customers in every manner possible during these uncertain times.

HomeLoanServ Inc., based in Boise, was founded on February 4, 2018. It is a foreign non-profit corporation registered with the Texas Secretary of State in the United States of America. HomeLoanServ is known for its great customer service and premium secure platform that simplifies the refinance process, having served its clients with affordable home loans for over two decades. In some states, HomeLoanServ is a direct lender lending money to homeowner’s mortgages. The lender can choose to merely lend money and leave repayment to another entity or do both.

Pros and cons

Refinancing your mortgage can give you some breathing room during this period of economic uncertainty by lowering your monthly payments and saving you money over time. While it may appear to be a good idea on paper, it may not necessarily benefit you. It’s best to examine the benefits and drawbacks of associating with loan services like HomeLoanServ while considering your unique circumstances.

Pros

  • When you refinance with HomeLoanServ, you’ll retain the same team handling your mortgage;

  • The company offers straightforward online repayment options.

Cons

  • Customers frequently complain about HomeLoanServ’s late payment penalties on multiple review websites

  • The company has also been accused of false promotions with incomplete information.

  • There are various complaints filed for delayed communication.

Loan conditions

HomeLoanServ is a loan servicing business for mortgages. As a trademark company for Idaho Housing Finance Association, HomeLoanServ acts as a direct lender that lends money to homeowners for purposes such as mortgages. All applicants must have a minimum middle credit score of 620. Some programs may demand higher credit scores. A maximum debt ratio of 50% will be required on all loan programs. With some exclusions for specialized loans, eligible borrowers’ maximum income is $125,000 in all counties (excluding Blaine County, which is $135,000).

Methods of a loan funding

As a registered entity for Idaho Housing Finance Association, HomeLoanServ offers a variety of lending products, including conventional loans, Rural Development (RD) loans in rural regions, FHA loans, and Veterans Administration (VA) loans for veterans. Property categories include manufactured housing, condos, townhouses, and single-family. HomeLoanServ rates are as low as 5.25% for conventional loans, while for FHA, VA, and USDA/RD, they are 5.125%.

Company documents

Terms of Use
Privacy Policy

Financial products

HomeLoanServ
Home loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $135,000
Rate
i

Effective interest rate on the product

up to 5.25%

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Calculate loan payments in HomeLoanServ

HomeLoanServ calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

USD
USD
50000 $
135000 $
Loan term
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Specify the loan term for the calculation

years
months
1
30

What to focus on before applying for a loan with HomeLoanServ

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between HomeLoanServ and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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