Dominion Financial Services Reviews

Dominion Financial Services Reviews

4.0

Good - based on 102 reviews

dominionfinancialservices.com
is verified by Trustindex

We guarantee all reviews are 100% real.
What's Trustindex?
%title%

%offer%

Reviews (102)
Jimmy B
Jimmy B
2024-02-14
I have had several loans with this lender and nobody at Dominion cares about customer service. On a couple of occasions Dominion "approved" us for a loan but introduced last minute underwriting requirements the day they were supposed to close. The Seller, title company, and Realtors were very angry because of their actions and poor communication. Do not use this lender if you want to close on time. No systems and poor management.
Jara Flowers
Jara Flowers
2024-02-02
Update: The same home they say was such a issue I have completed a cash out with another lender with zero hiccups. Also I forgot I even was using them until owner responded back just now after months, that’s how much of a nightmare their company was. However did remind me to file my complaint for the appraisal I paid for that they didn’t attend to close on. If I had the option, I would rate this company with zero stars. Despite receiving recommendations, my wife Kaitlyn and I reluctantly decided to give them a chance, only to be met with a series of frustrating experiences. The communication and follow-up from this company have been nothing short of horrific. Our journey began in August with the appraisal process, which had to be revised. Every time we reached out to the loan officer, we were promised progress for the following week, only to be left disappointed. It's best to avoid this headache altogether. At this point, all I desire is a refund for the appraisal fee, as it seems this company has no intention of closing the loan. I will be reporting this company to FTC or CFPB if I don’t receive my appraisal fee back since they have no attentions on closing this loan
Reply from Dominion Financial Services 2024-02-05
Update: In response to your review concerning the zoning classification of a two-unit property as single-family, we acknowledge the issue raised. The inconclusive outcomes of two desk reviews on this DSCR loan-related property highlight a significant discrepancy in zoning compliance. Zoning laws are designed to ensure proper land use and community development. A two-unit property classified for single-family use indeed raises compliance questions. Upon ordering an appraisal, the incurred fee is due for services rendered, despite the potential revelation of unforeseen issues. In this instance, the appraisal disclosed complexities previously unknown, surprising to both us and potentially you. As documented on 10-23-2023, the appraisal was classified as "Indeterminate" due to significant deficiencies or risk factors, with insufficient data for a credible value assessment. Notably, the proximity to nonresidential property and train tracks may impact marketability, contrary to initial observations. Despite these concerns, the appraiser, familiar with the market, affirmed the valuation, considering similar properties in the analysis. The report identified a discrepancy regarding the property's use, suggesting a 1025 Form (multi-family) should have been used instead of a 1004 Form (Single Family) due to the property’s dual-unit rental status and dual kitchens. Subsequently, the form was corrected on 10/09/2023. Further, while the property is zoned R6, allowing duplexes, it's surrounded by single-family residences, limiting the likelihood of zoning changes. Should you have any further questions or require additional clarification, please do not hesitate to reach out to us.
Deacon Weeks
Deacon Weeks
2024-01-31
Would not recommend they "claim" to be investor friendly but wasted our time without even looking at a deal we intended to get funded for. You're better off finding private lenders than wasting your time with these jokers. We are experienced in the fix and flip space, and these folks are typical bankers trying to pretend to be in the business.
Reply from Dominion Financial Services 2024-02-02
Dear Deacon, Thank you for sharing your concerns with us. We understand the importance of your feedback and take it under serious consideration. In the course of conducting our business, we are often faced with decisions that are driven by a comprehensive analysis of all relevant factors, guided by our established policies and procedures. Upon review of your loan application, it was determined that it did not satisfy our minimum credit criteria. These criteria are in place to ensure the soundness of our financial operations and the integrity of our lending practices. While we regret any inconvenience this decision may have caused, please be assured that it was made following a careful and impartial evaluation of the information available to us. We recognize the dynamic nature of financial situations and credit profiles. Should there be an improvement in your credit scores that aligns with our requirements, we encourage you to reapply. We would be more than willing to reassess your application with the aim of facilitating your needs to the best of our ability. Your understanding and cooperation are greatly appreciated. Should you have any further inquiries or require assistance in understanding our credit criteria and how you might strengthen your application, please do not hesitate to contact us.
Kenneth H
Kenneth H
2024-01-30
We have closed one refinance with Dominion in the summer of 2023 and two more in January 2024. Brendan Corcoran Contacted me back within a day or two upon receiving my request for rate quotes on two rental properties on Dec 8 2023, and Lindsay Sheely followed up with the process. They worked very hard with us throughout the year-end holidays and closed both deals in just about one month. In my experience they tend to offer lower rates than other lenders, have shorter seasoning time (only 3 months) requirement for refinancing on newly acquired properties. They are also very willing and able to refinance on subject-to loans that we have acquired. They may require more rigid documentations - yet within reasonable limits, thus perhaps they are better suited for experienced professional investors.
Reply from Dominion Financial Services 2024-02-02
Dear Kenneth, We sincerely appreciate the time you took to provide us with your feedback. As a valued client, your insights and satisfaction are paramount to us. We are committed to fostering a productive and positive relationship with you, ensuring that our services align with your expectations and contribute effectively to achieving your investment objectives. As we look ahead to 2024, we are excited about the opportunities to further assist you in reaching your financial goals. Our team is dedicated to providing you with the highest level of service and support, tailored to meet your unique investment needs. We believe that through collaborative efforts and a mutual understanding of your aspirations, we can navigate the complexities of the investment landscape together, striving for the best outcomes. Please rest assured that we are here to support you every step of the way. Should you have any questions, require additional information, or wish to discuss your investment strategy in more detail, do not hesitate to reach out to us. We are eager to contribute to your success and look forward to a prosperous year ahead. Thank you once again for your trust and confidence in our services. Here's to a fruitful partnership and to achieving great heights in 2024.
U .Ene
U .Ene
2024-01-18
I recently had the misfortune of dealing with Dominion Financial Service and Specifically Anthony Pace who proved to be utterly incompetent and negligent in their duties. Anthony failed to review crucial lease documents before making me pay for appraisals, resulting in a significant loss of both time and money. From the outset, I had high hopes for a smooth and efficient lending process. However, it quickly became apparent that the lender lacked the necessary attention to detail and professionalism. He was too busy closing on 40-50 other loans "his words" rushing to make a quick deal. As a person new to refinancing it is the duty of these experts to review the lease documents and any other documents i send before proceeding, to ensure that i qualify or meet their requirements. They disregarded this crucial step and proceeded with the appraisal process, ordering titles, having me add them as the mortgagee in a new home insurance purchase. As a result of their negligence, I was forced to pay for the appraisals without having the assurance that the lease documents were reviewed to ensure it meets their requirments. Anthony let me know he "assumed" i had a brand new 12 month lease 1 day before closing then tried to ask me to tell a tenant to extend their lease abruptly just as abrupt as their whole loan process is. This not only wasted my hard-earned money but also caused unnecessary delays. They were happy telling me to disrupt my tenant or kick rocks after i lost money from their mistake until i let them know that i have to leave a thorough review to try to save at least one person from going through what i went through. To make matters worse, the lender's lack of due diligence caused me to lose valuable time. I had planned my schedule and made commitments based on the assumption that the lending process would progress smoothly. However, due to their failure to review the lease documents, I was left in a state of uncertainty and had to put my plans on hold indefinitely. The incompetence displayed by this lender is simply unacceptable. It is their responsibility to ensure that all necessary documentation is thoroughly reviewed before proceeding with any financial transactions. By neglecting this crucial step, they not only displayed a lack of professionalism but also caused me significant financial and emotional distress. I strongly advise anyone considering working with this lender to proceed with extreme caution. Their inability to perform even the most basic tasks, such as reviewing lease documents, raises serious doubts about their competence and reliability. Save yourself the frustration, time, and money by seeking out a more reputable and responsible lender who values their clients' interests.
Reply from Dominion Financial Services 2024-02-02
Dear Uzoamaka, We are truly grateful for your feedback. It is through the candid and constructive comments from our clients, whether positive or negative, that we continue to refine and enhance our services. Your input is invaluable in our pursuit of excellence and in fostering a culture of continuous improvement within our company. We wish to provide some clarification regarding the recent situation concerning your rental questionnaire submitted on December 18, 2023. Upon receipt, we promptly initiated the appraisal process on December 20, 2023, under the assumption that the lease in question was of a long-term nature, as indicated. However, upon receiving the actual leases on January 3, 2024, it came to our attention that the leases were, in fact, of a 6-month duration, which diverges from the initial information provided. This discrepancy has significant implications under the guidelines set forth by our note buyers, who mandate a long-term lease for the terms initially offered. Leases of a shorter duration, such as the 6-month lease you have, necessitate different terms to align with these guidelines. We understand that this development may prompt further discussion and clarification, and we are fully prepared to address any questions or concerns you may have. To this end, we propose a phone call at your earliest convenience to thoroughly examine the situation and explore the next steps. Our aim is to ensure that you are fully informed and that any decision moving forward is made with a comprehensive understanding of the circumstances and options available. Our team will be reaching out to you to arrange a suitable time for this discussion. We appreciate your understanding and patience as we navigate this matter. Please rest assured of our commitment to resolving this situation in a manner that is both satisfactory and beneficial to you.
Al Daci
Al Daci
2024-01-09
About ten years ago, after I had done my first successful flip, I received a letter from Dominion Financial Services inviting me to apply for a line of credit. Initially, I hesitated because the letter looked like an advertisement people get in their mailboxes. Until then, I had used other hard-money lenders. Yet I thought, why not give it a try by completing the necessary forms and providing the required documents. After reviewing the documents I submitted, Dominion Financial approved the line of credit. Since then, Dominion Financial has funded 15 fix-and-flip real estate deals. Dominion Financial is a great financial company to work with. The people I have been communicating with are very professional and pretty fast-paced. Once I send a request for financing a real estate deal to Jack BeVier, a partner at Dominion Financial, he responds within the day outlining the terms of the deal. Jack is very straightforward and fair with the terms of the deal. Normally, the terms are just like they are advertised on Dominion Financial Services’ website. There are no gimmicks. Therefore, if you are a real estate developer looking for fast and fair funding, don’t make a mistake by going to another hard-money lender or one of these big banks. Apply for a line of credit with Dominion Financial, send an email, or call Jack Bevier, and you will expect a fast response with terms that are very favorable compared to other hard money lenders. I had a great experience with Dominion Financial. This review is a real, contributed by a hands-on real estate agent and flipper; contact me for more insights if you would like.
Reply from Dominion Financial Services 2024-02-02
Al, We are immensely grateful for your positive feedback. It is with great appreciation that we acknowledge the time and effort you have taken to share your insights with us. As a valued client, your perspectives play a crucial role in our continual pursuit of excellence and in shaping the services we provide. Thank you for choosing us as your trusted partner. We are looking forward to what we are confident will be a rewarding and successful journey together.
David Kiedis
David Kiedis
2023-11-28
Review below has been edited due to Dominion reaching out and offering assurances that there have been changes in their processing department. I appreciated the follow up. I had to resend the same documents multiple times, had to have the same conversations multiple times, and had to do the follow up as well with them instead of the other way around. Upon selling my loan, they did not transfer over all the necessary documents including insurance to the new company which has become another issue to deal with.
Reply from Dominion Financial Services 2024-02-02
Dear David, Thank you for updating your review after our conversation. We aim to make investment processes as straightforward as possible for investors like you. For your next transaction, please reach out to me directly at johnm@thedominiongroup.com, so I can ensure it goes smoothly.
Bradley Warr
Bradley Warr
2023-10-31
I received a mail advertisement for Dominion after running into roadblocks with other potential lenders. With nothing to lose, I sent an email to Wade Susini outlining our building project. He responded the next business day and put us in contact with a loan officer, Brendan Corcoran. From that point, we have been full speed ahead. Our project is a bit different from most, but everyone from Dominion that we have encountered has kept an open mind and have taken the time to gain a better understanding of what we are actually doing. Rather than being met with "We aren't interested" or "This project falls outside of our scope", the team has continued to work amongst themselves to help us get the resources needed to finish this project. At every obstacle, they have continued to find ways to make it possible for us to continue working with them. Thank you to Wade, Brendan, Janina, Kathy, Danielle, Tony, Amira, and Alan.
Reply from Dominion Financial Services 2024-02-05
Bradley, Thank you for your positive feedback! We're thrilled to hear about your experience and eagerly look forward to your next deal. Your success fuels our motivation daily. Here's to more shared achievements ahead!
Angel Lopez
Angel Lopez
2023-05-24
This is probably the best lender I have had the opportunity to work with. They are way faster than their competitors and have solved all my financial needs with excelency. Travis Beach and Wade Susini are Professional, responsible and will answer any question. I'll recommend this company to friends and family.
Reply from Dominion Financial Services 2024-02-05
Angel, We're deeply grateful for your glowing review and truly appreciate you taking the time to share your experience. Your kind words inspire us, and we can't wait to work with you on your next deal. Remember, your success drives ours, and we're here to support you every step of the way. Thank you for being such a valued client!
Jack Shokha
Jack Shokha
2023-04-28
I have worked with Dominion since 2015. I refuse to use anyone else but Dominion. They take everything serious. But that’s how it should be! Once you have a deal under contract, you will work with the same person until closing. Which is the best part. You develop a relationship with these GREAT individuals. And in private lending, building relationships is everything. I will always be grateful for Dominion for helping me achieve my goals in flipping. I recommend them every single time someone wants to flip. Thank you to every single person at Dominion Financial. Almost 8 years strong!!
Reply from Dominion Financial Services 2024-02-05
Jack, Your wonderful review has filled us with gratitude. Thank you for sharing your positive experience with us. We're excited about the prospect of collaborating with you again soon. It's clients like you who inspire our daily efforts. Your achievements are the measure of our success.
PocketAces Live
PocketAces Live
2023-04-24
FEES, FEES, FESS! Just not worth it
Reply from Dominion Financial Services 2023-04-28
Since you choose to remain anonymous, we’re unable to determine if you’ve ever applied to us for a loan, but since you’ve previously posted positive reviews for Queen Capital Properties and your review was 1 of 5 negative reviews posted within minutes of Queen Capital’s negative review, we can only assume you posted this as a favor.
QC Homes
QC Homes
2023-04-24
They do not follow through with anything. Don't bother with these clowns.
Reply from Dominion Financial Services 2023-04-28
We quote loans based on income and expenses. When we learned that your expenses had been significantly understated, we had no choice to revise the quote. Dominion doesn’t feel as if that deserves a one-star review, and it certainly doesn’t justify your posting multiple negative reviews and asking your own customers who’ve never applied to Dominion to all do the same.
Queen Capital
Queen Capital
2023-04-24
Not worth the hassle!
Reply from Dominion Financial Services 2023-04-28
We quote loans based on income and expenses. When we learned that your expenses had been significantly understated, we had no choice to revise the quote. Dominion doesn’t feel as if that deserves a one-star review, and it certainly doesn’t justify your posting multiple negative reviews and asking your own customers who’ve never applied to Dominion to all do the same.
Janet Weissman
Janet Weissman
2023-04-24
This company is definitely running a scam.
Reply from Dominion Financial Services 2023-04-28
No one by your name has ever applied to Dominion for a loan. Since you’ve left positive reviews for Queen Capital Properties and this was posted within minutes of their posting negative reviews from multiple accounts, we must conclude you posted this as a favor to them.
Anthony Lowenberg
Anthony Lowenberg
2023-04-24
***PREDATORY LENDER! BEWARE!!!***
Reply from Dominion Financial Services 2023-04-28
No one by your name has ever applied to Dominion for a loan. Since you’ve left positive reviews for Queen Capital Properties and this was posted within minutes of their posting negative reviews from multiple accounts, we must conclude you posted this as a favor to them.
Ryon Healy
Ryon Healy
2023-04-04
John M. was so helpful at getting me pre approved to prepare me for my recent acquisitions. John reached out shortly after Christmas and had be pre approved before the new year! I was very impressed with his communication, even more so as I just closed out a recent cash out refi with a DSCR loan. Dominion gives you confidence in your investing strategy rinse lather and repeat!
Mark Drake
Mark Drake
2023-03-24
Loan Processing lady I worked with, Danielle Florentino, was an absolute nightmare. She forgot my closing date, continually messed everything up. Did a background check on me for a refinance at the last possible second and it ended up delaying my closing date because speeding tickets popped up.... Beyond the laughing stock of loan processors in this company, once you close, they just sell the loan servicing to another company and you have to get forced to set up new auto payment information. DFS sucks!
Reply from Dominion Financial Services 2024-02-05
Dear Mark, Thank you for bringing your concerns to our attention. I would like to clarify the position of our firm in response to the issues you've raised regarding the processing of your loan. Firstly, it is important to reiterate that our firm does not directly service Debt Service Coverage Ratio (DSCR) loan paper. As explicitly stated at the outset of our engagement, our primary role involves originating loans that are subsequently sold to investors. This business model necessitates strict adherence to the guidelines set forth by our note buyers, a principle that governs our operations and underwriting processes. Regarding the matter of your background report, it returned a flag for an unspecified criminal offense. Such findings necessitate further clarification to ensure compliance with the stringent requirements of our note buyers. The documentation you provided, courtesy of your legal representation, detailed that the initial charge—driving at a speed of 110mph in a 65mph zone—was reduced to a lesser offense of 75mph in a 65mph zone. This clarification was pivotal, enabling us to proceed under the premise that the incident did not constitute a criminal matter that would preclude the approval of your loan within the stipulated guidelines. Furthermore, our due diligence process is not merely a formality but a critical component of our commitment to integrity and regulatory compliance in the sale of loans. This process ensures that all loans meet the rigorous standards expected by our note buyers, thereby safeguarding their interests as well as ours. Regarding the issue of the Automated Clearing House (ACH) form, it is standard practice for such forms to accompany the loan documents to the note buyer at the time of sale. The necessity to set up auto-pay should only arise should you wish to alter the draft accounts previously established. If there has been a misunderstanding or error in this process, we are committed to rectifying such issues promptly. We understand the complexities involved in loan transactions and the importance of clear communication. Please rest assured that our team is dedicated to providing transparency and support throughout this process. Should you have any further questions or require additional clarification, we are at your disposal to ensure a smooth and satisfactory resolution.
Alix Maria Taulbee
Alix Maria Taulbee
2023-03-21
I had a great experience working with John McClelland at Dominion! The entire process I felt informed and motivated. He answered any of my questions and kept me in the loop, making me feel valued and not just another transaction. Thank you John and thank you Dominion!
Sarah Ovadia
Sarah Ovadia
2023-03-18
The staff are Very professional, easy to work with and fast. Highly recommended👍
Richard Briggs
Richard Briggs
2023-03-17
If you are looking for real estate investor funding, look no further. These guys are incredible to work with. I have built over 10,000 homes and have borrowed a lot of money over the years and I have to say that these guys are the best. They funded two projects for me and they checked all the boxes. Fair fees, fair rate, incredible follow-through and the big one for me were the interactions with the people. Great team. Fred & Team, Great job. We will be using these guys for all of our construction funding.