Champion Mortgage Ratings |
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 Don't Do It! |
| My wife and I ended up finding Champion through some mail advertisements and we decided to give them a try after checking out their website. On a positive note, their customer service dept. was extremely friendly throughout the entire application. Even when our loan escalated and I spoke with my loan agent, he seemed very courteous and knowledgeable. However, I completely question their business practices. Although, they are friendly, they’re mainly trying to make as much money as they can - often at your expense. I know we have bad credit and all, but they made us out to seem like they were doing us huge favors in attempting to get us a loan. We ended up getting the loan, but the interest rate wasn’t near what we were expecting. I felt that they weren’t completely honest about our loan, we got suckered into a balloon loan which we didn’t know the full details of before we signed the paperwork. We would pay about $875 a month for 15 years and then would have to pay off a huge lump sum payment of $76,000 or refinance again! I’m sorry, but I DON”T have an extra 74 sitting around. Then they continued to pressure us by telling us that we wouldn’t be able to qualify for any other type of loan. Due to our credit problems, we closed the loan, but decided to keep looking. We ended up going with Lendingtree, who gave us a decent rate, but with an arm loan that was much more manageable. Although our monthly payment was higher, in the long run, it will definitely be the best decision. I would be careful if you’re considering Champion Mortgage. |
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I felt they were Dishonest and Incompetent |
| I would describe Champion Mortgage as dishonest thieves. As A long time customer with great credit history, I applied for a no doc loan with champion. They led us to feel that we were their best customers and that we were being well taken care of so we decided to go with them. After almost 2 weeks of paperwork delays, the loan officer called us to set a closing date. After they had approved us, they called us back and said that they changed their minds and were unable to refinance us due to our background (although we had been loyal customers for years without ever missing a payment. They basically lied to us. A no doc loan by definition means a no doc loan, yet they went back on their words several times and ended up leaving us with a bad taste in our mouths. I wouldn’t do business with them again. |
| They Still Harrass Me! |
| I’d say they are a predatory lender. Champion was on my list as a potential mortgage lender, yet once I decided to look elsewhere, they began harassing me at home, on my cell phone, at my office, etc. etc. to try to change my mind. I spoke with several supervisors and had to file a complaint as I’m now on the do not call list thanks to them. They would not take no for an answer and would not leave me alone! Watch out for Champion. |
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