![]() In terms of conventional loan offerings, they offer loans backed by Fannie Mae and Freddie Mac, including the newer 3% down payment options.Īnd they offer jumbo home loans with loan amounts as high as $2.5 million via their Premier Jumbo loan program. They offer streamline refinances for all those loan types, and HARP if you happen to be underwater on your home loan. For USDA loans, they require a minimum credit score of 620. So it’s very clear that they have a major presence in the government home loan arena.įor both VA and FHA loans, they allow FICO scores as low as 500, which is very low indeed. They were also the #1 FHA lender by volume in 2020.Īnd per the USDA, they were a top-10 USDA lender. They managed this thanks to mortgage refinancing, which accounted for 75% of their VA loans originated during that quarter.Īside from VA loans, Freedom Mortgage originates a ton of FHA loans and USDA loans. As noted, they are the top VA loan lender in the nation after funding $72 billion last year. Their main focus appears to be VA loan lending. Now let’s discuss what they offer in the way of home loans. We know they’re a big company and growing. Fixed-rate and ARM options to choose from with various loan terms.Home purchase and refinance loans available, including cash out and streamline refis.Or a jumbo loan that exceeds the conforming loan limit.You can also get a conventional loan backed by Fannie Mae or Freddie Mac.They specialize in VA loans but also offer FHA loans and USDA loans.They came in 9th on the list of top mortgage lenders for 2019 based on number of loans closed (110,000). In June 2020, Freedom Mortgage set a new monthly volume record, funding nearly $11.3 billion in mortgage loans, which represented over 43,500 closed loans. They’ve now got physical branches in states like Arizona, California, Hawaii, Nevada, New Mexico, Texas and Utah, and a total of 100 nationwide. thanks in part to acquiring Ontario, CA-based First Mortgage Corporation. The company also added 40 retail branches to its operations in the western U.S. Wentworth Home Lending, Roundpoint Mortgage, and Sterling National Bank. Since 2014, they’ve acquired a ton of companies and/or their assets, including Continental Home Loans, New York Community Bank, BluFi Lending, J.G. This made them a major USDA loan player as well. However, they’ve been growing larger and larger thanks to a series of major acquisitions, including the purchase of Chase’s Rural Housing Business in 2016. This despite being a nonbank, meaning they don’t take in to deposits like the big banks do. Virgin Islands.Īnd as mentioned, the #1 VA lender ( per the VA) and #1 FHA lender, which is super impressive. Virgin IslandsĪt last check, they are the fifth largest home loan provider in the United States, with licenses to do business in all 50 states, including D.C., Puerto Rico, and the U.S. Licensed in all 50 states including D.C., Puerto Rico, and the U.S.Originated roughly $134 billion (500,000 mortgages) during 2020.Also making strides in USDA lending after acquiring Chase’s rural loan business.And is ranked #1 in the nation for both VA and FHA lending in 2020.Freedom Mortgage is a top-5 mortgage provider nationally.If you’re a consumer, you can call them up directly (they operate a call center out of Mount Laurel, New Jersey) or visit a local branch if one is located near you.įreedom Mortgage Is the #1 VA Loan Provider Nationwide ![]() Then of course they have the consumer-facing retail channel thanks to their army of mortgage loan officers positioned across the country. That means mortgage brokers can resell their products to consumers, and smaller mortgage bankers can offer their programs to borrowers via the correspondent channel.
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