Loanpal Reviews (2038)
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Loanpal Rating
Address: 8781 Sierra College Blvd, Roseville, California, United States, 95661-5920
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I thought that they were a little slow on getting us the loan due the paperwork issues some on our side and some theirs. Extremely friendly and very helpful.
Nathan S was fantastic to work with. Quick and easy to refinance my home receiving the best interest rate possible. I have recommended Nathan to several of my family members.
Seth was great and the whole experience. The process was fast. The communication was great. I would use them again.
Nathan S was fantastic to work with. Quick and easy to refinance my home receiving the best interest rate possible. I have recommended Nathan to several of my family members.
Seth was great and the whole experience. The process was fast. The communication was great. I would use them again.
Nathan S was fantastic to work with. Quick and easy to refinance my home receiving the best interest rate possible. I have recommended Nathan to several of my family members.
Seth was great and the whole experience. The process was fast. The communication was great. I would use them again.
Nathan S was fantastic to work with. Quick and easy to refinance my home receiving the best interest rate possible. I have recommended Nathan to several of my family members.
Seth was great and the whole experience. The process was fast. The communication was great. I would use them again.
Best experience We have ever had with a loan professional. Sherrie B. made it quick, simple and easy and got us an unbelievably low rate.
Best experience We have ever had with a loan professional. Sherrie B. made it quick, simple and easy and got us an unbelievably low rate.
We were trying to get Solar Panels from Ion Solar. During this time they went through LoanPal for financing. When the sales rep was at our house during the multi hour meeting we provided all the asked for documentation and received a pre-approval. I even talked to Loanpal and everything was supposed to be good. We hear absolutely nothing from the company and have to reach out. Now supposedly they need more verification about our income. We have provided number tax return information and well as the documentation of the child support award with the past year of payments. Again we hear nothing. Reach out again to now be told that Loanpal was not supposed to be talking to us all of a sudden and that they need even more information. The worst part about all of this is that at least half of the information they are again asking for has been provided. They are not reading their emails or documents. I have no idea how many times income has to be verified before they finally verify it. I have no problem provided the needed documentation but do not appreciate the story changing every single time.
To whom it may concern,
Thank you for bringing this to our attention. We have been in contact with Mr. Moses about a loan for his solar system and Mr. Moses has decided against moving forward with his loan.
Thank you
I have decided to not move forward with this loan. Loanpal admitted that the processing of the the loan was done incorrectly and by the wrong parties to begin with. They offered to correct that. However the partner company were were going to use for the solar panels we no longer feel is reputable and will not be moving foward.
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Revdex.com:
I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.
Best experience We have ever had with a loan professional. Sherrie B. made it quick, simple and easy and got us an unbelievably low rate.
Best experience We have ever had with a loan professional. Sherrie B. made it quick, simple and easy and got us an unbelievably low rate.
We were trying to get Solar Panels from Ion Solar. During this time they went through LoanPal for financing. When the sales rep was at our house during the multi hour meeting we provided all the asked for documentation and received a pre-approval. I even talked to Loanpal and everything was supposed to be good. We hear absolutely nothing from the company and have to reach out. Now supposedly they need more verification about our income. We have provided number tax return information and well as the documentation of the child support award with the past year of payments. Again we hear nothing. Reach out again to now be told that Loanpal was not supposed to be talking to us all of a sudden and that they need even more information. The worst part about all of this is that at least half of the information they are again asking for has been provided. They are not reading their emails or documents. I have no idea how many times income has to be verified before they finally verify it. I have no problem provided the needed documentation but do not appreciate the story changing every single time.
To whom it may concern,
Thank you for bringing this to our attention. We have been in contact with Mr. Moses about a loan for his solar system and Mr. Moses has decided against moving forward with his loan.
Thank you
I have decided to not move forward with this loan. Loanpal admitted that the processing of the the loan was done incorrectly and by the wrong parties to begin with. They offered to correct that. However the partner company were were going to use for the solar panels we no longer feel is reputable and will not be moving foward.
>
Revdex.com:
I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.
We were trying to get Solar Panels from Ion Solar. During this time they went through LoanPal for financing. When the sales rep was at our house during the multi hour meeting we provided all the asked for documentation and received a pre-approval. I even talked to Loanpal and everything was supposed to be good. We hear absolutely nothing from the company and have to reach out. Now supposedly they need more verification about our income. We have provided number tax return information and well as the documentation of the child support award with the past year of payments. Again we hear nothing. Reach out again to now be told that Loanpal was not supposed to be talking to us all of a sudden and that they need even more information. The worst part about all of this is that at least half of the information they are again asking for has been provided. They are not reading their emails or documents. I have no idea how many times income has to be verified before they finally verify it. I have no problem provided the needed documentation but do not appreciate the story changing every single time.
To whom it may concern,
Thank you for bringing this to our attention. We have been in contact with Mr. Moses about a loan for his solar system and Mr. Moses has decided against moving forward with his loan.
Thank you
I have decided to not move forward with this loan. Loanpal admitted that the processing of the the loan was done incorrectly and by the wrong parties to begin with. They offered to correct that. However the partner company were were going to use for the solar panels we no longer feel is reputable and will not be moving foward.
>
Revdex.com:
I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.
My agent (David H) provided fast, courteous, friendly and professional services in refinancing my home. Even during the COVID-19 pandemic, I was able to lower my interest rate and payments plus get loan approval and close in less than a month. Thank you David.
My agent (David H) provided fast, courteous, friendly and professional services in refinancing my home. Even during the COVID-19 pandemic, I was able to lower my interest rate and payments plus get loan approval and close in less than a month. Thank you David.
We have a solar loan through LoanPal. The website to access our account is www.loanpalsolarloanpayments.com. The account summary only has the original loan amount and is not adjusted for payments made so we could be paying on this loan for the rest of our lives and never know how much we owe. I contacted loanpal for tax questions when we needed to know how to file for the solar rebate, I got a response in less than thirty minutes. I have submitted a request for a statement with the current amount owed and I have received no response over a month I have never had a loan where the entirety of the payment is applied to interest and NO amount goes to principal. Surely, that can't be legal.
To whom it may concern,
Thank you for bringing this issue to our attention. We have been in direct contact with Ms. explaining the issue. A summary of that correspondence is below.
At this time, your unpaid principal balance and payment history is not available on our website. We are working to implement this visibility in the near future so our customers can see their balances, and payment applications. At this time, your balance and payment application is only viewable in your regular monthly billing statement. I've attached a payment and loan history for you so you can see your payment applications, and running unpaid principal balance as of today.Please let us know if you have any additional questions or concerns.
Please let us know if there is still an outstanding issue here.
Thank you.
I have a solar loan with loanpal. The experience in obtaining information about my payments, how much has gone to pay interest, how much toward principal, how they handle extra payments and their customer service is beyond difficult. The most user unfriendly financial company I have ever encountered. If you have a solar loanpal loan you better be prepared to maintain your own ledger of payments, interest charged, principal reduction and more. You simply cannot obtain this information from them online. I want to reduce the principal of my solar loan in addition to making the required monthly payments; their system simply does not permit that as they are evidently focused on having as much as possible of payments going towards interest. Loanpal is a nightmare.
Thank you for forwarding the issue one of our customers is having. We take pride in our ability to help our customers and when their needs are not met, it is important that we solve it.
Mr. is correct in his communication that our online payment website does not include any loan information. This website is used to make online payments for a customers loan and not set up to show account details. For account details, our customers can reference their monthly billing statement we mail each month. As for the comments about principal not being paid down on his loan, all of Loanpal's solar loans come with a feather that starts the first payment 60 days after funding. This is explained in the loan documents our customers execute. This is a courtesy we extend to our customers as we want to ensure the solar panels are operating and they are enjoying the benefits of the solar panels before they begin to pay on the loan. During those 60 days , interest accrues on the loan. Once payments begin, all monies are first applied to interest, then principal. Once the interest has been paid down future payments will begin to be credited towards both monthly interest and principal. If Mr. would like a copy of his payment history, he can email *** and I will ensure it is provided to him. Please let me know if you have any additional questions or need additional information.
I am rejecting this response because: the LoanPal response indicates that the first two months of interest is a "feature" extended to customers and that implies the customer has an option to reject that and simply begin the monthly payments in the first month. I did not see such an option presented to me; had I seen that I would have begun making the monthly payments in the first month. I requested, but never received, an itemization of how much that first two months interest was. And, yes, you can ultimately receive an itemization of how much of a payment is applied to principal and how much to interest. However, to receive that you have to request it and then wait for a supervisor to send it days later. LoanPal does not do a good job of providing full disclosure and transparency to their prospective borrowers. In my case I wanted to exit the relationship with LoanPal so much that I took out a loan from a credit union to pay off the LoanPal loan. What they do may be legal and you can ultimately find out how much was paid in interest and principal however since you never are told how much those first two months of interest are you have no way of knowing when you have actually paid that first amount of interest off.