
Ally Bank
4.9 Bankrate ScoreAlly Bank began offering direct-to-consumer home...
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Homefinity is good for borrowers seeking guidance from a loan officer and a fast, convenient process.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing; physician loans
Min. credit score required
620 for conventional loans, 600 or higher for FHA loans and VA loans (can be lower in some cases)
Nationwide availability
All U.S. states except Nevada and New York
Min. down payment
3% for conventional loans; 3.5% for FHA loans; none for VA loans or USDA loans
NMLS: 2289
State License: MC-4040
5.0
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing; physician loans
Nationwide Availability
All U.S. states except Nevada and New York
Min. credit score required
620 for conventional loans, 600 or higher for FHA loans and VA loans (can be lower in some cases)
Apply online, by phone or via Xpress app
Loan originators available around the clock, and borrowers communicate with same person from start to finish
Real-time prequalification or same or next-day preapproval
Not available in Nevada or New York
Not all loan originators licensed across all states
Homefinity is good for borrowers seeking guidance from a loan officer and a fast, convenient process.
To determine Homefinity’s Bankrate Score, Bankrate’s editorial team rated it and other 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.) We derived its overall score by considering three basic factors:
Affordability differs from lender to lender, so comparing costs is key. Homefinity showcases its latest mortgage rates on its website, and doesn’t charge lender fees. As of this review, the lender’s rates on 30-year loans were below Bankrate’s averages, making it a favorable option for those looking to compare the lowest rates.
This factor can make the overall mortgage application process smoother or more challenging. Homefinity provides conventional, FHA, VA and USDA mortgages, as well as loans tailored to physicians. The lender is available in all but two states (Nevada and New York).
Know what to expect when you work with a specific lender. Homefinity parent Fairway Independent Mortgage has been accredited with the Better Business Bureau since 2003 with an A+ rating. Fairway also ranked above average in J.D. Power’s 2021 and 2022 customer satisfaction surveys for mortgage origination. The lender’s loan officers are available around the clock, and you’ll likely communicate with the same person from start to finish.
If you’re interested in a mortgage through Homefinity, you can request a quote and begin the preapproval process on the lender’s website. There’s also the option to apply for a mortgage online through the lender’s secure portal or the Xpress app. If you have questions, you can contact the lender’s customer service at 800-614-1227. Here are some tips to prepare for the process:
You have the option to refinance with Homefinity, but similar to applying for a purchase loan, you begin the process by providing your contact information so that a loan officer can assist you.
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Rating: 5 stars out of 5
5.0
Bankrate Score
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Loans offered Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing; physician loans |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property; flex-term |
Loans offered Conventional, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; jumbo |
Min. credit score required 620 for conventional loans, 600 or higher for FHA loans and VA loans (can be lower in some cases) |
Min. credit score required 620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans |
Min. credit score required 620 for conventional loans, 500/580 for FHA loans |
Down payment 3% for conventional loans; 3.5% for FHA loans; none for VA loans or USDA loans |
Down payment 3% for conventional loans; 10%-15% for jumbo loans; 3.5% for FHA; none for VA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans |
Nationwide availability All U.S. states except Nevada and New York |
Nationwide availability All U.S. states |
Nationwide availability Available in Alabama, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, New Hampshire, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Washington and Wisconsin |
NMLS: 2289
State License: MC-4040
4.9
991 ratings
This lender has 38 reviews.
98% of customers would recommend this lender.
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?