Freedom Mortgage Review
See how often this lender beats the typical offer on 2025 loans.
How Bankrate scores Freedom Mortgage
- Price competitiveness
How often this lender's borrowers pay at or below the typical price for a comparable loan.
3 out of 5 - Amount of overpayment
How much extra borrowers ended up paying with this lender compared to the best price for a comparable loan. A higher percentile score is always better.
2 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
1%1 out of 5 - Where and what they lend
How many states and loan types this lender serves.
100%5 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. Both of those measures fell outside the expected range. Credit scores are not available in this dataset, so they are not included in the analysis. Because that variable is held constant across all lenders, it should reduce the extent to which missing credit-score data affects comparisons between them.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, fewer than 90% did, which might mean quoted terms changed before closing, applicants stepped away, or both.
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What Bankrate's editors think
Freedom Mortgage specializes in FHA and VA loans and works with credit scores as low as 550, below what many lenders require. Its $1,000 close-on-time guarantee is a meaningful perk on purchase loans, though it excludes refinances, jumbo loans and loans using down payment assistance.
But the CFPB has fined Freedom three times since 2019 — most recently in 2024, when it paid $3.95 million for submitting years of error-riddled mortgage data, which the CFPB said made it a repeat offender of a 2019 order over similar violations. That regulatory record is serious enough to cap its Overall Score at 2. Its complaints run high, and almost none have been resolved with relief to the borrower, which drags the score down further. More than 2 in 5 approved loans never reach closing. Remember that loans can fall apart before closing for reasons outside the lender’s control, such as an applicant walking away.
At a glance
Good for borrowers focused on an FHA or VA loan, including those with credit scores as low as 550. Not a good fit if you want to see rates online before applying, or if a smooth path to closing matters most — more than two out of five of Freedom’s approved loans never reach the closing table.
What consumers say
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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