DHA Financial, INC

One of the worst experiences I’ve had. Lending Tree referenced DHA Financial and I figured I’d do a good thing by using a small Colorado business. I was in the middle of an amicable divorce and I chose to use a VA loan which Jason told me would be fine. The bank owned home I was in escrow on had a 45 day escrow. The 45 days came and went and I began filing extensions with the management company holding the property. I was told over and over again that everything was looking good and was a sure thing only to be told shortly after that they needed more info. I ended up paying $ 1125.00 is escrow extension fees and three months later Jason said the deal won’t happen. Turned out that DHA Financial couldn’t process VA loans and was seeking outside «investors».
I ended up using Plaza Lending with no problems. Ernie O’hara was great.
Stay away from DHA financial.

In March 2014 we used DHA Financial to obtain a new mortgage for a home we were buying. Jason was very communicative and helpful in the beginning, but after that it all fell apart. We provided all requested financial documentation promptly and were told that the underwriter would ask us for more as needed. We were even early with the inspection and appraisal on the house.
Two weeks went by with no word, so we followed up with DHA. We were asked for some additional documentation, which we again provided immediately, then another delay. We asked, then asked again, and then our Realtor got involved. We were finally told that there had been a personnel change at DHA and our file had been «lost in the shuffle» but that they would complete the file immediately. At this point we were very close to our closing date, so were quite frustrated. They tended to ask us for supporting documents at 4 or 5 p.m., making it hard for us to contact other businesses for what we needed until the next day.
The day before our closing, our Realtor finally went down to their office and stayed there for an hour and a half to make sure they completed our file. Finally, at 3:00 p.m. the day before our closing, we received word that everything was approved and good to go. Then, at 4:20 p.m. that same day, we received a call saying, «Wait, hold the phone, your approval has been rescinded and you’re not approved.» WHAT?!?
It turns out that the underwriter wouldn’t consider about $ 5,000/month of our income because they didn’t consider it «consistent.» This included $ 2,000 a month from a renter from our home in Kansas City that we had for 3 years, and while they wouldn’t count the rental income, they did count the home’s mortgage debt against us. Such odd accounting made our ratio numbers «unapprovable.» Both my husband and I have stellar credit and solid income, so this was a complete shock in the 11^th hour. Had we been told this a week or two in advance, we might have had more options, including switching mortgage companies or finding a new underwriter, but at 4:30 p.m. the night before we were scheduled to close (at 10:00 a.m. the next morning) we had very few options. Our earnest money ($ 10K) was hard at this point.
We ended up having to pay off our relatively new auto loan (just over $ 17,000) and put $ 30,000 more towards our down payment than we initially planned (and we had planned on $ 250,000, which is by no means small). Thankfully, we had the cash on hand and were able to do both things, but the fact that this happened in the 11^th hour after we were initially EARLY with our requirements and after we had been incredibly prompt with all supporting documentation requests made the whole process enormously stressful.
Our Realtor was appalled and said she’s never seen such a horrible mortgage process with buyers who were so qualified. She also said their office was NOT set up for visitors (squalid and with people yelling back and forth at each other), and that it looked like DHA was set up to get customers in the door (hence our good customer service with Jason initially), but not to provide them good customer service once they were signed up as clients.
Do yourself a favor and avoid using this company at all costs.