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Freedom Mortgage Review 2023

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At a glance

Freedom Mortgage


Rating: 3.7 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; investment property


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans; 550 for FHA loans; 580 for VA loans

Pros and cons

Checkmark Pros

  • First-time homebuyer programs available (conventional, FHA and VA)

Close X Cons

  • Online information about loan costs is limited
  • No home equity loans 

Freedom Mortgage overview

Freedom Mortgage is a massive, full-service lender headquartered in Boca Raton, Florida, offering loans through retail, wholesale and correspondent channels. It is licensed in all 50 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. It is a top lender of loans backed by the U.S. Department of Veterans Affairs (VA) and the Federal Housing Administration (FHA). Current customers might be able to take advantage of Freedom Mortgage's "Purchase Promise," which includes rate-match and closing guarantees, as well as access to savings programs through affiliate partnerships.

Freedom Mortgage is good for

Borrowers looking for convenience and a variety of mortgage options

Breakdown of Freedom Mortgage overall score

  • Affordability: A key benefit of working with this lender: Once you’ve applied for a loan with Freedom Mortgage, it’ll alert you to better deals if they come up.

  • Availability: Freedom Mortgage operates nationally, with a range of loan products but specializing in FHA and VA loans.

  • Borrower experience: This lender has made headlines for some regulatory violations, and customers on the Better Business Bureau tend to rate it in the middle of the pack.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 3.5/5

Freedom Mortgage doesn’t disclose rates on its website; to find out if you’re eligible for a loan and get a quote, you’ll need to fill out an online form with information such as your name and address. A notable perk, though: Once you’ve got a loan, the lender will alert you to better deals when you log into your account or by text message.

Availability: 5/5

Freedom Mortgage provides conventional loans as well as some government-insured loans (FHA and VA), along with options to refinance your existing mortgage. It’s also willing to work with borrowers who have lower credit scores and down payments. The lender operates across the country and in most U.S. territories.

Borrower experience: 2.7/5

A major mortgage originator with more than $500 billion in funded loans, Freedom Mortgage is accredited by the Better Business Bureau and has an A+ rating from the organization. Its Trustpilot score, however, is 1.3, or “Bad,” and it ranked last in customer satisfaction among large lenders in the J.D. Power mortgage originator survey for 2022.

Freedom Mortgage has also run into its share of regulatory issues in recent years. It paid hefty fines in 2016 and again in 2019 for various violations.

If you’re interested in a Freedom Mortgage loan, however, you can sign up for “Eagle Eye” alerts via text in order to be notified when interest rates go down or better offers become available. In addition, current customers can access interest rates through their account online. Freedom Mortgage also offers a mortgage calculator and basic information about homebuying on its site.

As far as experience, the lender generally provides loan decisions within 24 hours, and can close on a home purchase in less than 30 days.

If you have questions about a loan, Freedom Mortgage is available Monday through Thursday from 8 a.m. to 11 p.m. ET, Fridays from 8 a.m. to 10 p.m. ET and Saturdays 9 a.m. to 2 p.m. ET. 

Refinancing with Freedom Mortgage

Freedom Mortgage markets refinances for conventional loans and other types of mortgages. The lender doesn’t divulge much online about refinance rates and costs, noting on its site that those variables will hinge on a variety of factors. 

Alternatives to Freedom Mortgage

Written by

Jeff Ostrowski

Senior mortgage reporter

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor