Mortgages

Freedom Mortgage review: pros, cons, rates and more

Learn about the advantages of this lender in this Freedom Mortgage review, including the quick and easy prequalifying process, and more!

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Freedom Mortgage: enjoy an exclusive rate monitor program and several mortgage options

Freedom Mortgage logo
Learn the main details of this lender in our Freedom Mortgage review. Source: The Insider Advisor

Are you looking for an opportunity to get your dream first house and quickly prequalify online? Read our complete Freedom Mortgage review below to find out.

Freedom Mortgage logo

Freedom Mortgage: how to apply

Find out how to apply for the Freedom Mortgage! Prequalify for this #1 VA and FHA lender today! Keep reading for more information.

This post will discuss all the loan options available, including VA and FHA programs. Keep reading to discover!

Credit Score550 or more;
Loans OfferedFHA, VA, USDA, Conventional, Jumbo, fixed-rate, adjustable-rate, Refinancing, Investment property;
Minimum Down Payment3%;
APRNot disclosed;
Termsup to 30 years.

Freedom Mortgage review: what you need to know

Freedom Mortgage is one of the largest lenders in the US, licensed to operate in all 50 states, including Puerto Rico, Washington DC, and the Virgin Islands.

As a full-service mortgage company, they have considerable experience being a top lender of VA and FHA loans. Also, this lender offers a friendly first-time homebuyer program.

Furthermore, despite not having a minimum credit score requirement, it is often required a number between 550 to 640, depending on the several mortgage types available.

It’s important to know that you can prequalify for the Freedom Mortgage website, but to apply, you must complete the process with the help of one of their loan advisors.

Additionally, with Freedom Mortgage, clients can count on the Eagle Eye Program. With this tool, the lender monitors interest rates and alerts you when lower rate options are up, helping you save money.

Freedom Mortgage main features

Freedom Mortgage is indeed a good option for those looking for a great variety of mortgage options and a low minimum down payment.

But is it the best option for you? To help you with your decision, compare below their pros and cons:

Pros

  • Present in all 50 U.S. states, including Washington D.C., Puerto Rico, and the Virgin Islands;
  • Enjoy a friendly first-time homebuyer program for VA, FHA, and Conventional loans;
  • Easy and quick option to prequalifying online;
  • The Eagle Eye Program helps customers find better rates.

Cons

  • No online application. You’ll need to speak with a loan advisor;
  • No APR is available online.

Credit score required to apply

Close up wooden toy house with Woman signs a purchase contract or mortgage for a home, Real estate concept.
Find out what credit score you need to qualify for Freedom Mortgage. Source: Adobe Stock

There are different minimum credit scores depending on the loan to be taken out. Freedom Mortgage requires a minimum score of 620 to apply for a conventional loan.

If you want to qualify for a VA loan or FHA loan, a score of 550 is necessary. For a USDA loan, you need a 640 credit score.

It’s important to note that the credit score required may differ if you want to apply for mortgage refinancing. Consequently, the lender may consider other elements of your application.

Freedom Mortgage application process: how does it work?

You can quickly prequalify for Freedom Mortgage online. After a soft credit check, one of the loan advisors will help you complete your application by phone.

Later, you’ll receive a login link by e-mail, through which you can upload documents and provide all the formation required.

Now, if you’re convinced that Freedom Mortgage is for you, check our next post to learn even more about the application process!

Freedom Mortgage logo

Freedom Mortgage: how to apply

Find out how to apply for the Freedom Mortgage! Prequalify for this #1 VA and FHA lender today! Keep reading for more information.

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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