Mortgages

Homefinity Mortgage review: rates, terms, pros and cons

Looking for a comprehensive review of Homefinity Mortgage? You've come to the right place. We'll break down their pros and cons so you can decide if they're the right lender for you.

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Homefinity Mortgage: Enjoy excellent customer support and transparent rates

Homefinity logo
Find out if this is your right lender in our Homefinity Mortgage review. Source: The Insider Advisor

Mortgages are a major commitment- so it’s important to do your homework before you sign on the dotted line. To help you, we’ve made this Homefinity Mortgage review.

Homefinity logo

Homefinity Mortgage review

Learn everything you need to know about how to apply for the Homefinity Mortgage. Enjoy rate transparency and multiple loan options!

This post will look at this lender’s main features, including rates, terms, pros, and cons. So keep reading to find out whether it is the right option for you. Then let’s get started.

Credit ScoreAt least 620;
Loans OfferedConventional, jumbo, FHA, VA, USDA, fixed, and adjustable rate. Rate-and-terms, cash-out, and streamline refinancing;
Minimum Down PaymentAs little as 3%;
APRSee terms;
Terms15 and 30-year periods.

Homefinity Mortgage review: what you need to know

Homefinity Mortgage is the online division of the Fairway Independent Mortgage, created in 2018. And delivers a fast and convenient mortgage process to its customers.

Also, it covers almost all the U.S. states except Nevada and New York. This lender has a variety of loan products to help borrowers achieve homeownership.

Therefore, it includes conventional, jumbo, FHA, VA, and USDA loans. Also, they offer rate-and-term, cash-out, and streamline refinance.

Homefinity has a 15 to 30-year-term option with fixed and adjustable rates. Moreover, it requires a minimum down payment of as little as 3%.

Furthermore, Homefinity mortgage displays daily updated mortgage rates on their website. At the same time, the average closing time is 30 days.

Additionally, it provides some useful resources to help borrowers through their mortgages, including multiple articles.

Also, borrowers can enjoy a mortgage calculator through which they can estimate their home loan payments, rates, and terms.

Homefinity Mortgage main features

Couple using a laptop while working on their home finances
Understand the main features of this lender is this Homefinity review. Source: Adobe Stock

Homefinity Mortgage is great for excellent customer support and a convenient application process.

But to make sure this is the right lender for your needs, you need to consider the disadvantages of this lender too. Below, let’s compare the pros and cons of the Homefinity Mortgage.

Pros

  • Borrowers can enjoy multiple loan products;
  • Fast preapproval process;
  • Customers can apply online, via mobile app, or by phone;
  • This lender offers a user-friendly mobile app.

Cons

  • This lender has no physical branch locations;
  • Homefinity Mortgages are unavailable in Nevada or New York.

Credit score required to apply

Homefinity Mortgage requires a minimum credit score of 620 for conventional loans.

However, this minimum requirement might change depending on the loan type you apply for.

Homefinity Mortgage application process: how does it work?

Homefinity Mortgage delivers a very convenient application process. Therefore, customers can complete their applications through the website, mobile app, or phone.

Furthermore, borrowers can prequalify easily and get preapproved within one day. As a result, you get a fast process. So keep reading to learn more about this lender’s application process.

The following article will explain everything you need to learn about how to apply for Homefinity Mortgage and what are its minimum borrowing requirements. Let’s get started.

Homefinity logo

Homefinity Mortgage review

Learn everything you need to know about how to apply for the Homefinity Mortgage. Enjoy rate transparency and multiple loan options!

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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