Posted on: 04th Dec, 2006 04:39am
Advanced Financial Services, Inc. is a financial institution providing mortgage lending services and bill consolidation loans. It is based in Rhode Island but it is licensed to operate in a number of states. In some states, Advanced Financial Services operates as AFS Financial Inc.
What are consumers saying about Advanced Financial Services?
In spite of getting an A+ rating from the BBB, the company has received mixed reactions from consumers who have opted for their services. They have shared their feedback about this company in our community forums. There have been complaints against Advanced Financial Services whereas some of the consumers seem to be quite happy with the services offered by AFS Financial Inc. Here's what consumers have to say about AFS (Advanced Financial Services Inc.):
While some consumers have sent their complaints against Advanced Financial Services, others are of the opinion that the company isn't pushy at all. Though the company may send you flier mails for pre-approval, they do not use your personal information, except the name and address when sending the flier mails. Some consumers claim that there may be complaints against Advanced Financial Services (as revealed in BBB reports), but the company has resolved every complaint to BBB's expectations.
If you wish to go for the services of AFS (Advanced Financial Services Inc), or if you'd like to talk to a representative at the company, you may use the contact details given below.
Advanced Financial Services
25 Enterprise Center
Newport, R1 02842
Phone: 1(800) 644-3327
Fax: 1(800) 333-3450
Website: "http://www.myafsloan.com/"
- Affiliation: The company claims to be approved by Fannie Mae/Freddie Mac and the HUD but consumers are quite skeptical about it as they haven't found details of the affiliation on the websites of Fannie Mae/Freddie Mac or HUD.
The company says they are an active member of Mortgage Bankers Association of America and the National Home Equity Mortgage Association. But consumers say, the websites of these organizations do not speak about any affiliation with AFS. - Delayed closing: A borrower missed signing 2 documents but the loan officer at AFS didn't inform him about it. Instead, he kept delaying the closing. The person made repeated calls and each time he was given a closing date, but nothing actually happened. Finally, the borrower called and he was told that his loan has been denied. They cited the reason that he hasn't paid the first mortgage payment. But it wasn't the borrower's fault because the loan wasn't yet closed.
- Advertising low rates: AFS may send you mails promising to approve you for a bill consolidation loan at a low rate of interest. But once you go through the loan process, you may be approved for a loan at a much higher rate. Thus, you may not be able to save as much as they initially promised you.
- Dispute over financing issues: A guest in our forums has spoken about his dispute with AFS Financial Inc. regarding a mobile home loan. He says he had a very bad experience with the company. He had faxed the required papers to AFS for a mobile home loan approval. He had even paid them around $375 for the appraisal and finally he came to know that the company doesn't lend mobile home loans. After repeated calls and messages, the person could only get $100 as refund.
- Flier mails: The marketing department at AFS (Advanced Financial Services, Inc.) may send you mails stating that you're pre-approved for a bill consolidation loan. But this doesn't mean that you're approved. You'll have to go through the entire loan process in order to get an approval. So, it may be just a flier mail to promote the products of AFS and make you contact them in case you wish to choose their services.
- Response to customer calls: The official website of AFS (Advanced Financial Services, Inc) says the company is fast in approving loans. But there are consumers who have sent all necessary paperwork to AFS for pre-approval only to get no response from them even after repeated phone calls and email messages.
While some consumers have sent their complaints against Advanced Financial Services, others are of the opinion that the company isn't pushy at all. Though the company may send you flier mails for pre-approval, they do not use your personal information, except the name and address when sending the flier mails. Some consumers claim that there may be complaints against Advanced Financial Services (as revealed in BBB reports), but the company has resolved every complaint to BBB's expectations.
If you wish to go for the services of AFS (Advanced Financial Services Inc), or if you'd like to talk to a representative at the company, you may use the contact details given below.
Advanced Financial Services
25 Enterprise Center
Newport, R1 02842
Phone: 1(800) 644-3327
Fax: 1(800) 333-3450
Website: "http://www.myafsloan.com/"
Related Forum Discussions
Had anybody use Advanced Financial Services, Inc. (AFS)? They sent me a preapproval file in the mail. They list their address as 25 Enterprise Center, Rhode Island, 02842 with an 800 number.
i just recently closed my refi with AFS i had no prblems with them i had answers to all my questions without being spoken to like a child which i have dealt with from other companies. they where fast and honest from the egin!
Just closed today for refinance with AFS. Very professional and quick. Got a 5% loan to pay off credit card balances that interest was just way too high. Will save a ton of money just the first year, almost one cards balance. To get the loan to go through as smooth as mine did, one must really have all the ducks in a row and good credit score. If your score is low, don't even try... lenders are now even more careful than ever. Russ :D
hey i just got this in the mail, has anyone actually done a re-finance with them.
hi yodi,
i think you should contact them personally and discuss the plan with them. this will help you in knowing the pros and cons of the plan and will help you to decide whether you will be able to afford the payments or not.
you can also contact other lenders and check out what type of rates and terms they are offering for a refinance. you can also compare the different types of offers that you get from the lenders with the help of the calculator given in the following link:
http://www.mortgagefit.com/calculators/refinance.html
i think you should contact them personally and discuss the plan with them. this will help you in knowing the pros and cons of the plan and will help you to decide whether you will be able to afford the payments or not.
you can also contact other lenders and check out what type of rates and terms they are offering for a refinance. you can also compare the different types of offers that you get from the lenders with the help of the calculator given in the following link:
http://www.mortgagefit.com/calculators/refinance.html
I just received one of the "pre-approval" letters from AFS and stopped through this site to do research. Noticed a poster (Amber) stated they could not find info about AFS being a FHA-approved lender. I looked into it myself and found out the poster was wrong. If you go to HUD's website and do a "Lender List Search" and you'll see that AFS is indeed an authorized lender and is authorized to do business in close to 100 areas nationwide.
I know this won't help provide clarity about their customer service, but at least if you are considering dealing with them like I am, you can be confident that they are in fact a FHA-approved lender (contrary to what the earlier poster stated). Hope this helps.
I know this won't help provide clarity about their customer service, but at least if you are considering dealing with them like I am, you can be confident that they are in fact a FHA-approved lender (contrary to what the earlier poster stated). Hope this helps.
i did a zipcode search beacuse on the back it says mailed from 60101 and found that they are mailing them from Elmhurst, IL phone number is 1(630)279-8330
You will notice a shot time to reply, that is a clue not to respond to it.
Just got one of these and thought about calling as I am about to refi, but I think I am just going to trash it.
I also got a pre-approval in the mail. These financial companies are allowed to get into your credit report. If the report is good they send you an offer. The person I talked to (Bruce in Rode Island) was very helpful. He made no promises about refinancing our home. He is looking into a refi and consolidation loan. I looked up the company and the BBB in Rode Island has no compliants and the company has an satisfactory rating. I don't anticipate any problems with this company. But I'll let you know in the future.
Hi Gail,
Do keep the community posted about your experience with the company. This will help a lot of people in deciding whether they should go with the company or not.
Do keep the community posted about your experience with the company. This will help a lot of people in deciding whether they should go with the company or not.
I got a letter from them in the mail saying I was preapproved to refinace my mortgage. My mortgage was an adjustable rate mortgage and was going up every 6 months. I called advanced financial sevices and within 3 weeks they refinaced me to a much lower fixed rate mortgage. They have been nothing but professional and helpful to me.
I was trying to get my loan and things were going good till the final step. Now I'm being told the credit rating you have to have has changed from a credit score of 500 to a credit score of 540. I'm out my 375.00 appraisel cause don't you know my credit score dropped. This change supposedly came into play 2 weeks ago. Anyone with simuliar problem?
Didn't the lender know about your credit score when you applied for the loan? If the lender knew about your credit score, then he should have rejected your offer in the beginning itself.
yes,he did know my score but assured me all I had to have was a 500 credit score. Then after paying the 375.00 apprasial he stated that the new rate has to be a 540 now and that my fee is not refundable. I have a friend who paid for another apprasial even though she just had her house appraised 2 months ago. they told her it doesn't appriase for the same amount and will not refund her. Both of us were asured we'd get the loans and then they backed out for onre reason or another.
Hi shona!
Welcome back to forums!
I guess, as the rules for giving the loans have changed so the lender has backed out from the offer. You can try and negotiate with the lender so that he gives back at least a portion of the fees.
Sussane
Welcome back to forums!
I guess, as the rules for giving the loans have changed so the lender has backed out from the offer. You can try and negotiate with the lender so that he gives back at least a portion of the fees.
Sussane