Ikon Financial Group

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CLOSED NOW - Opens at 9:00am

This is the worst company I have ever worked with.

If I had to do it all over again, I would have stuck with Wells Fargo. While Ikon did get the job done, eventually, it took way longer than predicted and was extremely frustrating. Even down to the final moment, the closing attorney was receiving documents from Ikon DURING the closing....documents that had been promised several days earlier. And then, we were unpleasantly surprised at closing to find out that we were supposed to bring over $1700 to the table. I asked Jason & Miriam specifically, "What do I need to bring to closing?" and they both said, "Just your driver's license." Even the good faith estimates that we were sent showed a negative amount in the "bring to closing" column, indicating we were getting money back from our Escrow. We found out during closing when we had to call our current lender Wells Fargo, that they will only net your escrow into your closing costs if you are refinancing from Wells Fargo to another Wells Fargo.



Jason and Miriam were super helpful, very friendly, and as the reviewer above states, they answered the phone. Contrary to what the reviewer above states, I had no trouble getting responses to my emails. Jason would often reply from his iPhone after hours -- which I think is above and beyond the call of duty. Thank you!



I guess my biggest frustration was the time. They told me it was my credit union's fault for dragging their feet on the subordination agreement, and then it was something else. But, I was told it would be a 30 day closing and it took almost 4 months. The whole reason I went with Ikon wasn't the lower rate (Wells Fargo promised me the same rate) -- it was because they said no appraisal was required and we could refinance in 30 days. Wells Fargo said 3-4 months; I needed the speed.



I'm not angry with Ikon -- just disappointed. As I said, I could have accomplished the same thing by sticking with my current lender, and I'm guessing it would have been much less headache.

On a positive note, this mortgage banker had one of the best interest rates I could find (I compared 4 mortgage bankers) and they did not use a lot of "fees" that others use. That's basically why I decided to use them. They will answer the phone if you call.



However, they are the worst communicators. They seem to have issues with managing their client files. You will have three people asking you the same question on three separate occasions. The same person will ask you the same question one week later. They won't respond to emails. They seem to lack experience which causes them to make bad decisions on your behalf. I missed the closing date on my contract by 19 days! It was a huge headache. I don't care how organized you are, it won't help. They are lacking very basic organization and communication skills.



I will also say that I used an FHA loan due to not having 20% for a down payment. FHA does make it more difficult but I supplied all required documents the same day if not within the hour of getting the request.



I suggest comparing at least three mortgage brokers/ bankers and pay attention to how long they have been in business! I didn't consider this when comparing mine. Also, read the book "Homebuyers Beware". Lots of great info.