Dominion Residential Mortgage

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BEWARE OR DOMINION RESIDENTIAL MORTGAGE IN FAIRFAX , VIRGINIA. This goes for homebuyers trying to get financed and sellers of homes who see a pre-approval letter from Dominion Residential Mortgage. The way Dominion hurt me is, I was selling my house, and the first couple of days on the market I received 2 offers. The higher offer came from a buyer with a pre-approval letter from Dominion Residential Mortgage. Contract was signed on 17 June 2013. Either on 15 or 16 July 2013, I find out that Dominion tells the potential buyer that they have stopped the application process on mortgages-(Dominion could have told him that a little earlier than waiting the full 30 days of the contract time, and then me the seller having to put my house back on the market, when the market has slowed down. The hot market season the past 2 years in jefferson county wv has been early march thru late june). Again, so I the seller am back to square one in late July 2013, and it seems now that nothing is moving in the jefferson county real estate market. But the main thing I want to point out is that this potential buyer should have never received a pre-approval letter from Dominion Residential Mortgage because he had a foreclosure in the past that was too recent, and other financial institutions would not give him a pre-approval letter-(but Dominion did). I could have had my house sold by now from the other offer. On 29 July 2013, I spoke to a loan officer at Dominion and they were bragging about loans they approved in the past that had a foreclosure/bankruptcies that were less than a year old.This obviously seems shady. Dominion Residential Mortgage can and will hurt both a potential buyer and seller. A buyer can get a pre-approval letter, lock into a contract, spend money on an appraisal and home inspection, and towards the end of the process, Dominion gives them the boot. And from my situation you already know how Dominion can hurt the seller. Also when Dominion Residential Mortgage stopped the applications on mortgages, they left many buyers and sellers-(under contract), in LIMBO-around mid July 2013. In my opinion the federal government probably stepped in and halted the mortgages because dominion was doing some illegal/shady deals like approving VA/FHA/USDA loans,when the applicant was nowhere near qualified for the loan.



Last thing-if you are trying to sell you home, and you get offers, you should always check out the financial institution who wrote the pre-approval letter. Check out reviews/complaints/etc online. I hope this is helpful to someone.

I had tried to refinance 3 times and couldn't qualify. I had a great credit score but was underwater with my house. It took a couple months but Dominion was able to get my loan approved when nobody else could. It was hard waiting for the process to finish but I am so thankful that Dominion never gave up on my loan. I felt like they cared enough about me to put as much time and effort into the process as I had.

They are a superb lending service. They provide the important information individuals need to determine what steps to take next, tools that will help them access important information and statistics, and excellent customer service. Being BBB accredited, individuals know that Dominion Residential strives to follow the strict guidelines regarding customer service and satisfaction. They also have a number of options when it comes to refinancing – from the typical fixed rate and APR refinancing to jumbo loans and FHA refinancing. They’re a great company to go with for those who may be considering refinancing.