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Any experience with DHI Mortgage Home Buyers Club?

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Established Member

Any experience with DHI Mortgage Home Buyers Club?

D. R Horton has very affordable homes in very nice communities. Their website advertises free service called the Home Buyers Club that connects the potential buyer to a credit counselor until the buyer reaches a 640 middle score. Has anyone had any experience with this program?


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Message 1 of 7
6 REPLIES 6
Valued Member

Re: Any experience with DHI Mortgage Home Buyers Club?

How has your experience been with D.R. Horton, I'm going to be purchasing with them also and I would love to chat? I'm unaware of their credit counseling program however I was advised to get two approvals when working with them one from their mortage company and a bank the reason for that is D.R. horton has been in several law suits that they do not refund customers deposit once they have been found not to be approved for that amount of house they are interested in building on. It sounds crazy but it has happened.

Message 2 of 7
Regular Contributor

Re: Any experience with DHI Mortgage Home Buyers Club?

I'm in the Home Buyers Club right now.  They gave me a game plan.  I didn't have any baddies to get rid of but my DTI was affecting my credit score.  So I have paid down what was suggested and my report will be pulled again on 3/24.



Discharged BK7 2013.
NFCU Flagship 16000, NFCU NRewards 16000, NFCU LOC 15000, QuikSilver 1250, JCrew 5050, Pottery Barn 8170, Walmart 3500, Amazon 3500, Lowes 5000, Kays 4000, PayPal 2000, QVC 2000, Sams Club 5000, Evine 1000, CareCredit 1100, Best Buy Visa 500, HHGregg 1500, Banana Republic 300




Message 3 of 7
Senior Contributor

Re: Any experience with DHI Mortgage Home Buyers Club?

This service is not unique to Horton. I am a sales counselor with another national builder and we too offer buyer prospects a credit-management service to help them become purchase ready. Ours is done thourgh a 3rd party and we have been told by the 3rd party that they also have contractual relationships with our competitors.

 

Truth is that such a service does nothing for you that you could not do yourself. There is no secret of what it takes to become "buyer ready". Such steps/activities are well documented here in this forum.

Message 4 of 7
Regular Contributor

Re: Any experience with DHI Mortgage Home Buyers Club?

It's a free service and the credit counselor made suggestions and yes, I could have done it myself but she was very helpful in pointing some things out for me. Since I've been working with the credit counselor, my scores have increase 71 points so far.   I don't have to use DR Horton after working with DHI Mortgage.  I may use DHI Mortgage or I may go with another mortgage company.  I can go purchase anywhere that I want to. 



Discharged BK7 2013.
NFCU Flagship 16000, NFCU NRewards 16000, NFCU LOC 15000, QuikSilver 1250, JCrew 5050, Pottery Barn 8170, Walmart 3500, Amazon 3500, Lowes 5000, Kays 4000, PayPal 2000, QVC 2000, Sams Club 5000, Evine 1000, CareCredit 1100, Best Buy Visa 500, HHGregg 1500, Banana Republic 300




Message 5 of 7
Super Contributor

Re: Any experience with DHI Mortgage Home Buyers Club?

i got a call from a lady last night.... she was in tears.

they are supposed to close in a few days and the processor is asking for alt trade lines.

after talking to her.... she only had one valid trade line and never should have been pre-approved. much less gone under contract with inspections, appraisal and earnest monies at risk.

they went thru the buyers club

 

 

Retired Lender
Message 6 of 7
Regular Contributor

Re: Any experience with DHI Mortgage Home Buyers Club?

The Home Buyers Club is not the one that does the pre-approvals though.  They just worked with me on my credit.  The Home Buyers Club is a service with DHI Mortgage.  DHI Mortgage is probably who had her in tears about her preapproval.  I am thinking of using Navy Federal.



Discharged BK7 2013.
NFCU Flagship 16000, NFCU NRewards 16000, NFCU LOC 15000, QuikSilver 1250, JCrew 5050, Pottery Barn 8170, Walmart 3500, Amazon 3500, Lowes 5000, Kays 4000, PayPal 2000, QVC 2000, Sams Club 5000, Evine 1000, CareCredit 1100, Best Buy Visa 500, HHGregg 1500, Banana Republic 300




Message 7 of 7
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