On January 6, 2026, I spoke with loan officer John Murphy of Cliffco Mortgage Bankers regarding my…read moreinterest in obtaining a Home Equity Line of Credit (HELOC). John explained that Cliffco does not offer HELOCs and instead recommended a cash-out refinance.
After giving it considerable thought and doing my own research, I decided to move forward with the cash-out refinance based on his recommendation. On February 4, 2026, I provided all of the requested documentation, as well as every follow-up document requested afterward, in a timely manner.
Based on my income, credit, and the fact that I owned my residence outright with no existing mortgage, I was under the impression that I qualified for the refinance. I was also advised, and independently confirmed through my own research, that a cash-out refinance would typically take approximately 30-45 days to complete.
Today is August 8, 2026--six months after submitting my documentation--and I still do not have a resolution.
At this point, I have completely lost confidence in the process and am extremely disappointed with my experience. I feel that I have spent an unreasonable amount of time, energy, and money trying to get this loan processed. There was very little proactive communication or follow-up from the bank. Most, if not all, of the follow-up came from me. When additional information was requested, I provided it, only to encounter what often felt like unnecessary or excessive requests that further delayed the process.
Waiting six months for something I was told could take 30-45 days has been extremely frustrating. I believe I have been more than patient throughout this process.
I am also a licensed real estate agent and have referred clients to Cliffco Mortgage Bankers in the past who were seeking financing. I have received mixed feedback from some of those clients, but I never expected to have such a negative experience myself--especially considering that I felt I had established a good rapport with the loan officer.
Unfortunately, this experience has completely changed my opinion of Cliffco Mortgage Banker. Based on what I have personally experienced, I will not use or recommend Cliffco Mortgage Bankers in the future.
To anyone considering using this company, I strongly encourage you to do your research, ask detailed questions about the expected timeline and communication process, and consider your alternatives before moving forward.
My experience has been extremely disappointing, and I would not recommend Cliffco Mortgage Bankers