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Homefinity Mortgage Review 2024

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At a glance

Homefinity
NMLS: 2289
State License: MC-4040
Editor's take

Homefinity is an imprint of Fairway Independent Mortgage, one of the top five mortgage lenders in the U.S. It offers many of the perks of an online lender, including up-to-the-minute rates and calculators to help you estimate your homebuying budget, refinance savings and more. It employs a smaller team of loan officers, but one that promises a fast, convenient process. If you’re a medical professional, this lender can help you get financing for your unique financial situation, too.

Bankrate Score
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4.5
Rating: 4.5 stars out of 5
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Bankrate Score

Customer Rating
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4.9
Rating: 4.94 stars out of 5

1,062 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Credit Good

Min. credit score required

620 for conventional loans, 600 or higher for FHA loans and VA loans (can be lower in some cases)

Location

Nationwide availability

All U.S. states except Nevada and New York

Dollar Coin

Min. down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans or USDA loans

At a glance

Homefinity

NMLS: 2289

State License: MC-4040

4.5

Rating: 4.5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Location

Nationwide Availability

All U.S. states except Nevada and New York

Credit Good

Min. credit score required

620 for conventional loans, 600 or higher for FHA loans and VA loans (can be lower in some cases)

Homefinity overview

Homefinity is an online mortgage lender affiliated with Fairway Independent Mortgage Corporation and headquartered in Madison, Wisconsin. Launched in 2018, the lender is licensed in 48 states (not Nevada and New York) and Washington, D.C. Of the benefits of working with Homefinity, the lender sets itself apart with fast underwriting, with closings for a purchase averaging 30 days.

Pros and cons of Homefinity

Pros
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    Apply online, by phone or via Xpress app

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    Loan originators available around the clock, and borrowers communicate with same person from start to finish

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    Real-time prequalification or same or next-day preapproval

Cons
  • Close X

    Not available in Nevada or New York

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    Not all loan originators licensed across all states

Our Editor’s Take on Homefinity

Homefinity is an imprint of Fairway Independent Mortgage, one of the top five mortgage lenders in the U.S. It offers many of the perks of an online lender, including up-to-the-minute rates and calculators to help you estimate your homebuying budget, refinance savings and more. It employs a smaller team of loan officers, but one that promises a fast, convenient process. If you’re a medical professional, this lender can help you get financing for your unique financial situation, too.

How Bankrate scored Homefinity

  • Affordability: Homefinity doesn’t charge lender fees, and its rates are very competitive compared to Bankrate’s averages (as of this review).
  • Availability: This lender works with borrowers in all but two states.
  • Borrower experience: Homefinity’s loan officers are available 24/7, and you’ll likely work with the same person throughout the process.

Affordability: 9.8/10

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.

Availability: 10/10

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).

Borrower experience: 7.3/10

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.

How to apply for a mortgage with Homefinity

You can apply for a mortgage with Homefinity online or by phone at 800-614-1227. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Homefinity

Homefinity offers rate-and-term refinancing options.

Compare Homefinity to other lenders

Homefinity
Rating: 4.5 stars out of 5
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4.5

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Bethpage Federal Credit Union
Rating: 4.9 stars out of 5
  • Star
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4.9

Bankrate Score
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Read full review
First Mortgage Direct
Rating: 4.8 stars out of 5
  • Star
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  • Star
  • Star
  • Star

4.8

Bankrate Score
Info
Read full review

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

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, 500 for FHA loans

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA 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, 3.5% for FHA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Nationwide availability

All U.S. states except Nevada and New York

Nationwide availability

Available in all U.S. states except Texas

Nationwide availability

All U.S. states

Homefinity customer ratings and reviews

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NMLS: 2289

State License: MC-4040

4.9

Rating: 4.94 stars out of 5

1,062 ratings

Info

This lender has 95 recent reviews.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 4.9 stars out of 5
Responsiveness
Rating: 4.9 stars out of 5
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98%
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98% of customers would recommend this lender.

of 95 reviews

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.

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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.

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