New Hampshire Community Loan Fund Wall St, Concord

Honestly I'd give this place zero stars if I could. I emailed the guy important documents and it took me three weeks to hear an answer and he said he "forgot" to send me the next thing and then sent it to the wrong email! I would have to email at least twice if not three times to get a simple answer back. It was the worst experience I have ever been through and I will never recommend them and urge people to not go through them. Also after being pre-approved we were denied with great credit and plenty of income, just don't go through them.

Community Loan Funds interest is the highest around. They are suppose to help low income, but after financing with them for 5.5 years was told I did not qualify to refinance due to my income after being pre-approved and paying their application fees. I have excellent credit and they did not help in any way! Financed through another institution no problem and I am currently paid way ahead of schedule!

As the president of a cooperative, elected 2 terms in a row, it is my opinion that this organization is terrible to work with and does not care about the best interests of the cooperatives they work with. If you don't ask questions, maybe they are great, but if you look at the figures, their rates, what they actually offer cooperatives, and question things, that's where it all goes downhill. I had issues with them not responding to emails or phone calls, as a new board member, and noticed that they seemed to pick favorites on the co-op boards they work with (the ones who don't ask questions), and will completely ignore those on the board that they seem to not like. That was my experience with the last person we worked with, who spent most of their time partnering with specific board members they liked. We later got someone else to work with, but the previous representative works with other board members still, just refusing to work with some on the board. This all started when I questioned our interest rates and why because of that, they felt it was appropriate to be biased against me because of it. Ultimately, it is my opinion that the people I spoke with at the organization do not like board members that ask questions; especially when it is regarding our costs. Even our bank was receptive to questions and working out a change in our rate in order to help our community survive and help slow the process of our failing infrastructure. This so-called non-profit seemed far less concerned with our stability as a cooperative, and does not seem willing to work with us. Don't be mistaken, it's my opinion that their only concern is being profitable, which is fine, but they shouldn't pretend otherwise, and act like they offer equal representation for all communities and board members, as in my experience, that is just not true. Overall, I don't like the way this company works, as I believe fear tactics are used to get communities to become co-ops, regardless of the cost or whether it is something they can afford. In my opinion, a community I have been part of bit off far more than they could chew when they became a co-op based on their recommendations and what I consider to be fear tactics based on what I have heard. When the community first became a co-op, the rent went up substantially as soon as it became a co-op. Everyone was so scared of losing their home, they signed up by any means necessary. In my opinion, the cost is far more than what an interest rate is using a for-profit bank, so I'm not sure what benefit is received from any involvement with this so-called non-profit company that is supposed to be there to help communities (while at the same time being the company that is involved in loaning money to the cooperatives and individuals buying homes in those coops)... It seems like there are endless conflicts of interests in my point of view, but this is all just my opinion. Even the contractors the coop was referred to seem to be far more costly than some of the competition. In fact, the community I was part of switched from using a contractor they were referred to, that provided management, to using their own bookkeeper, which was a major cost savings. I'm not sure if new co-ops are able to choose whether or not to use a management company. If not, well, it wouldn't sound to me like the freedom that was pitched to community. Ultimately, I believe we will see a reversal of co-ops going back to being privately owned, or, if some remain, it will be because the residents are able to purchase the property on their own. I am all for co-ops, but in my personal opinion, I don't believe this company is for communities, as much as they are for shareholders.

Don't Be Fooled ! Protect Your Hard Earned Credit Rating. READ MY STORY! This agency claims it helps lower income people get a loan with a credit rating as low as 585. They charge a $29.00 application fee. I had over 700+ credit so I thought it would be a breeze to get pre-qualified. They state on the application to check a box for a specific an amount of money requested or to check a box to just get pre-qualified. I didn't even have a place picked out yet, so the loan officer I spoke to, Ron Thompson advised to just ask to get pre-qualified. I had been working with a realtor who suggested I do the same. The loan application was extensive and still not enough. After being asked to provide even more documentation over the period of two weeks, I waited another two weeks and heard nothing back. I placed a follow up call to check on the progress and got an answering machine. I left a message and didn't hear anything back for another whole week. I tried again on the following Monday and again, never got the courtesy of a return phone call ! Another week went by and I got something in the mail from them, a denial ! One of the reasons for my denial they said was insufficient income for the amount requested. I never even gave an amount, as this was a pre-qualification only ! The second reason was I didn't have enough cash on hand/or insufficient funds to close the loan. The reason why I think this company is a scam is based on their own claim, on their website, that if pre-approved for a loan, they will provide $3250.00 to put down on the home and or for closing costs! Plus I had $4,000.00 in the bank !!!! They sent me my credit score from all three credit bureaus. +716, +694,+653 ! It is clear to me this company probably collects $29.00 an application hundreds of times a day. Think about it. Just 10 application fees is $290.00 dollars ! Simple math if they do hundreds a day and just hand out unjust and incompetent credit denials with no solid basis and dont even give you the courtesy of a return call as they even did when I placed another call to inquire why they said the loan amount I requested was too much when I never even gave an amount, still no return call. SHADY, SHADY, SHADY ! AND my credit score that I worked so hard on over 3 years, got dropped by over 20 points !! Roll the dice if you want but I would look into other options first ! Good Luck. I hope this helps someone.

They boast about credit score is not an issue just making sure that you pay loans on time. I had a repossession during a bankruptcy in 2014 Still no go but you pay to have them run your credit that money is gone folks and no printed credit report for you.

Have had a great experience with this organization so far. They have been very attentive, professional, and responsive during our application process. We had been pre-approved with a different lender, but their restrictions on manufactured homes got in the way of a property we fell in love with. The application process is more strict and thorough than traditional lenders because it's a non profit. The interest rates can be higher than some traditional lenders, but I'm fine with that trade off when that money is going to getting more people into homes instead of the dicey ways many traditional lenders use their money. Hopefully, the future of this industry has more and more businesses/organizations following this excellent model.

Bought my home with them in 2001 looking to refi the first person i spoke to lost my paperwork and said i never sent it but received and cashed my check sent in the same envelope. I send everything again they receive it been a month nothing finally get someone and they say my paperwork is not valid anymore because the person who had it is out of the office and it was lock up and they could not access it and now want me to send everything over again well nope will find another lender and I live in a coop and i am on the board and i will be listing the loan fund as not approved lender in our park .

Absolutely pathetic excuse for a mortgage company and vastly behind the times. I had to fill out a paper applications and answer a million questions just to get a pre-approval letter, that i got in under two hours from Rocket Mortgage and Leader One Financial, just to find out they don't count commission as income. I waited a week and a half for that and had my credit affected by the pull for a useless $43,500 pre-approval letter but yet Real Mortgage companies will approve me for a $150,000 with the exact same Information i gave them. Pathetic.

we had a great experience working with this group , very helpful and mindful of our needs, buying a home can be stressful, they were with us every step of the way, re-assuring us and just being our friend. Would recommend them to anyone, again thank you community loan fund for making our dream come true. Ed and Leslie Florence

when everyone said NO! NHCLF SAID YES! we got pre approved found our home! Then got the underwriters approvals once we found our home! I can't thank Pam Macdonald enough! and now we're working with Pam.L also so far great! they do require a good amount of information but they need to know you're able to make payments. I had to pay off a few debts to even be looked at but was nothing. to be able to own our own place. to have a yard that our 3 kids so needed in an exalent scool district is amazing. a goal we thought was out of our reach is now a reality and we're just waiting in a closing date! don't believe all the reviews! This program is a step in the right direction for homeownership! listen to them and do what they ask of you and you'll be ok! thanks again NHCLF! DREAMS DO COME TRUE WITH A LITTLE WORK!