Homebridge Financial Services Mortgage Review 2021

By Jennifer Bradley Franklin

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

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3.9

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Loans offered

Conventional, fixed, adjustable (ARM), jumbo, super-jumbo, reverse, USDA, FHA, VA; refinancing options include cash-out refinancing and no-cash out refinancing; home equity lines of credit (HELOCs); second home and investment property loans; 203(k), EEM, HomeStyle
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Nationwide availability

Available in all U.S. states except Utah
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Min. credit score required

640 for conventional loans; 580 for FHA loans

Pros and cons

Pros

  • Available in all states except Utah
  • Regional branches regularly produce educational events, ideal for first-time homebuyers
  • Known for offering home renovation loans including Fannie Mae’s HomeStyle Renovation, construction-to-permanent and FHA 203(k)

Cons

  • Doesn’t publish minimum credit scores or minimum borrower requirements online; potential customers must connect with a mortgage lending associate to get this information
  • Borrowers must connect with a loan originator to apply

Homebridge Financial Services overview

Homebridge Financial Services is one of the largest privately held, non-bank lenders in the U.S. The company has more than 2,000 associates, more than 200 retail branches and two wholesale divisions, Homebridge Wholesale and REMN Wholesale. While the organization offers a variety of home mortgage and refinancing options, it has carved out a reputation for servicing renovation mortgages. The U.S. Department of Housing and Urban Development (HUD) recognized Homebridge Financial Services as the No. 1 lender in 203(k) renovation loans in 2019. Founded in 1989 as REMN, Homebridge Financial Services maintains its corporate headquarters in Iselin, New Jersey. At the close of 2019, 30 years since its founding, the company had funded more than $17.3 billion in home loans.

Loan types

  • Conventional
  • Fixed
  • Adjustable (ARM)
  • Jumbo and super-jumbo
  • Reverse
  • USDA
  • FHA
  • VA
  • Cash-out refinancing
  • No-cash out refinancing
  • Home equity lines of credit (HELOCs)
  • Second home and investment property loans
  • 203(k)
  • EEM
  • HomeStyle

Lender fees

Homebridge Financial Services lender fees total $1,225. However, the lender doesn’t charge loan origination fees. There may be a fee for rate-lock extensions, which may be partially refunded.

Minimum borrower requirements

Homebridge Financial Services offers a variety of loans, each of which has unique minimum borrower requirements. Borrowers must connect with a mortgage loan originator directly to learn the requirements.

FHA loans through Homebridge Financial Services require a 3.5 percent minimum down payment, with a maximum debt-to-income ratio (DTI) of 57 percent. On conventional loans, the borrower must have at least a 3 percent down payment (depending on income) and a maximum DTI of 50 percent.

Homebridge Financial Services is committed to educating borrowers on the various loans available. Regional branches regularly offer educational events, including some geared toward first-time homebuyers. Eligible borrowers may participate in the Homebridge Home Rewards program to receive a $595 gift card upon closing.

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