I used Box Loans because it was recommended by a local real estate agent. I ended up getting a good rate and am pleased with the terms of the loan. However, it was quite hectic to actually get the loan. Even when I was responding to emails and signing docs online, I was told my application would be "dropped" if I didn't respond??? Documents were asked for multiple times and often had already been faxed or sent, but had not been looked at. I had to go to the trouble of proving I had a recent unsecured loan (through sending several documents, several emails, several phone calls, and finally a conference call with the lender--this is crazy! Large, national lender said NO ONE had EVER needed them to do that before!) Every time I deposited my paycheck into the bank, I had to resend a month's worth of bank statements and copies of the check. It got to the point where I just held onto my paycheck because it was easier not to deposit them and have to go through all the faxing, uploading, etc. It was very difficult to communicate with Box at times-- phone calls would go to voice mail and they said everything was always urgent, but you couldn't get a hold of anyone to respond. Also, 3 days after I had signed closing docs (and the seller) I was told that funding wouldn't go through without an addendum added to the contract saying that a kid's toy playhouse I asked sellers to just leave in the backyard needed to be on a separate bill of sale!!! Are you kidding me?? Leaving the fridge is fine, but leaving a dirty, beat-up, wasp-infested, child's toy playhouse needs a separate contract?? And if that was the case, why didn't Box tell me that when I first sent Box a copy of the contract? or at least when the underwriter looked at it? Why did they wait until 3 days after closing docs were signed?? Like I said, I jumped through hurdle after hurdle to get this loan-- should have been so simple (great credit, good job, primary home) but really was a hassle.
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