T J Financial

My fiancée and I recently bought our first house in the city of Arcadia, and we are EXTREMELY happy with the service that T&J Financial provided. We were able to obtain our loan within 2 weeks!
T&J Financial approved, removed our loan contingencies, and issued the loan docs within Week 1 after we sent in our applications, and we were able to close escrow in Week 2.
Initially when we applied for our loan, our loan processor picked a lender that she has been working with for the last 10 years.
Unbeknownst to my fiancée and I, this lender was in the process of being taken over by a well-​known Wall Street investment bank, and no loan was being processed until the take-​over deal is finalized, which takes about 3 – 4 weeks.

We had 17 days to remove our loan contingencies, and I called our loan processor on a daily basis to get an update on the status of our loan without getting any news/​update.
When we had only 6 days to remove our loan contingencies, our loan processor called us and asked us if we wanted to apply with a 2^nd lender because she got the official confirmation from our 1^st lender that they were not able to process any loan until the take-​over deal is completed.
Our loan processor suggested that we went with T&J Financial for our 2^nd lender because she had just submitted a loan application with them for another customer of hers on a Friday, 8÷7÷15, at around 9pm PST, and T&J Financial approved of the loan on the following Tuesday, 8÷11÷15. (And from what I have heard, that customer’s loan was funded 2 days prior to ours.)
As this point in time, we were desperate so we went ahead and submitted our loan application at around 8pm PST on Tuesday, 8÷11÷15.
On Wednesday, 8÷12÷15 at around 5pm, our loan processor called to let us know that our loan has been approved.
After our loan was approved, we worked with our loan processor to provide T&J Financial with the paperwork that they asked for so our loan contingencies could be removed.
After we have satisfied all the conditions that T&J Financial asked for, our loan docs. were issued on Friday, 8÷21÷15.
The seller’s agent was very surprised when we informed him on Monday, 8÷24÷15, that escrow was going to be closed around the end of this week. Needless to say, he was caught in a bind because he thought he had more time to order a termite fumigation. LOL…
We have just been informed today, 8÷26÷15, that our loan has been funded, and escrow will be closed tomorrow, 8÷27÷15.
Honestly, when I read the negative reviews that T&J Financial has gotten from their past customers, I was really apprehensive because we had been burned previously by our 1^st lender, who just let us hang. I was stressing out about the delays that we would run into with T&J Financial based on the previous customers’ reviews.
However, upon reflections when I heard that T&J Financial has funded our loan today, I realized that as long as your credit history is good, you provide T&J Financial with valid proofs of income/​tax refunds, and you have honest cash to cover the 20% down payment and fees in your bank account, the whole process of obtaining a loan with T&J is very simple and straight forward.
The staff at T&J Financial works very fast to make sure that you can secure your homes, and I truly want to thank our underwriter, Sue, for processing our paperwork with lightning speed so that we can obtain our loan within 2 weeks after submitting in our loan application.
All lenders want to lend you their money because they make a good amount of profit from the loan’s interest, but in order for them to lend you the money, you have to provide them with bullet proof evidence of your financial standing so they can fund you your loan.
Nobody wants the housing bubble crash to happen again. Hence, you need to do your part to secure your loan. You cannot just blame the lender if you have unknown/​shady incomes and dirty money in your bank accounts that cannot be explained.
Also if the lender wants you to buy a certain insurance for your home, it is due to the findings within the hazardous report. If you think about it, the lender owns 80% of your home. Hence, they need to cover their asset in case of any disaster that arises. You cannot blame them for making you to buy flood insurance if your house is located within the flood zone.
Read through your house’s hazardous report if you want to get an idea of what type of insurance your lender will ask you to get so that you will not be caught by surprised when they ask you to buy the insurance as a condition prior to funding.
AND NO, I DO NOT WORK FOR T&J FINANCIAL if any of the negative reviewers want to raise the validity of my review. I do not write review unless I feel a very strong need to, and in this case, I wanted to write the review for T&J Financial because I do not want other customers to be scared and worried like I was when I read the previous negative reviews that T&J Financial has received.

Agreed with all the other Unilocalers. Endless and multiple requests for documents. even AFTER the loan had been approved. It took 5 – 6 weeks the close when we thought it was going to be an easy 2 – 3 weeks. Was not sure if it was the realtor, the broker, or TJ Financial, but after reading these reviews, TJ certainly could not have helped matters.

I was supposed to close escrow Dec. 3. I already signed all the closing documents, but I did not want to fund earlier than Dec. 3 because I would have to pay more for taxes. So on the day of Dec. 3, TJ Financial refuses to loan because they want me to get flood insurance. Why didn’t they say it was required before??? This changed the whole picture for me, as flood insurance is almost $ 7,200 a year for the house I wanted to buy. This disqualified me from being able to make the monthly mortgage payments. This happened after the fact that my loan was approved and I was eligible to afford the monthly payments. It makes no sense to approve a borrower and then tell them they need to buy something in addition, which in my case, left me ineligible to afford the monthly, therefore being unapproved for the loan. This is bad lending practice. I was unable to retract my offer for the house, and lost my 3% deposit to the seller. This is due to gross negligence by the lender, TJ Financial. Very upsetting I had to deal with this my first time buying a house. This company should be held accountable by the government and regulatory agencies for predatory lending and incompetence.

ZERO STARS!!! THEY GIVE MORTGAGE BROKERS A BAD NAME!
The other Unilocalers validate my review. TJ Financial is INCOMPETENT!
Unilocaler «M R.» is probably directly associated with TJ financial, so I wouldn’t trust his/​her review.
I recently refinanced my loan with Victoria Financial, in San Gabriel. The experience was much better. The best part about it was the experience. Serena’s staff was much more attentive. Unlike the security guard clerk, a.k.a. the receptionist, at TJ who makes sure no client comes in direct contact with TJ’s staff.
Victoria Financial truly gave NO POINTS and NO FEES!

Avoid TJ Financial at all cost. They have costed me (the buyer) and the seller a lot of money because of the never-​ending delays. There was absolutely no reason for the delay. All they did was to come to me every other day to request one missing doc when they should have grouped everything together. They are never on time and never promise when they can get things done.

my broker found them for my mortgage loan. My escrow is closing in 1 week and my loan is not officially approved. they refuse to lock your interest rates, because they have to wait until you provide them with all your documentations.
it is true from the other reviews that they ask for the most documents out of all other lenders and they are ridiculous. I had to resend a scanned form multiple times, because they said the quality is not good… –_-.is a scanned doc.
If i read these other reviews earlier… i would not ask my broker to use them.

Careful in your dealing with T J Financial. I ditto previous review, T J Financial is INCOMPETENT! They will use every excuse to ask you to provide more than what’s required by other institutions. Be ready to deal with repeated requests. T J Fiancial is not professionals, they will take advantage of Chinese clienteles. When I called, they put me on hold 4 times without tell me a thing. The receptionlist would not give out her name, why?