Homefinity is an online mortgage lender with corporate headquarters in Madison, Wisconsin. Launched in 2018, the lender has grown to more than 65 loan originators on staff, most of whom have more than 15 years of experience in the industry. It is licensed in 48 states (not Nevada and New York) and Washington, D.C., and in 2020, closed $1.98 billion in loans.
Of the benefits of working with Homefinity, the lender sets itself apart with fast underwriting. “Over the last two years, our underwriting never exceeded 72 hours, which is super impressive,” says Jeff Groff, Homefinity senior vice president of Business Development and Strategic Planning. The average closing takes 30 days.
- Fixed-rate and adjustable-rate mortgages (ARMs)
- Conventional loans
- FHA loans
- VA loans
- USDA loans
- Jumbo loans
- Refinancing including rate-and-term and cash-out refinancing
- Physician loans
Homefinity charges a flat $895 origination fee, except for loans originated in California, Florida, Georgia, Maryland, New Jersey, Oregon, Virginia and Washington. There is no origination fee for VA loans, and no application fee for any loans. Borrowers can consult with their loan originator for details on fees.
Minimum borrower requirements
Homefinity doesn’t publish minimum borrower requirements, which vary by loan product. For example, VA and USDA loans have a zero down payment option, while FHA loans require 3.5 percent down and conventional loans as little as 3 percent down.
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