HomePlus Mortgage Mortgage Review 2020
By Ellen Chang
About our reviews
Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.
Bankrate Score
3.7
5.0
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.
HomePlus Mortgage has both physical branches and online options for mortgages. The company, which is headquartered in San Diego and was founded in 1999, offers conventional, 30-year and 15-year adjustable-rate mortgages (ARMs) and government-insured loans like FHA, VA or USDA loans. The brick-and-mortar branches are located in Carlsbad, Lake Forest, Mission Viejo and San Diego, California, along with Phoenix, Arizona and San Antonio, Texas.Nationwide availability
Available in all U.S. states
Minimum credit score
680 for conventional loans
Loan types
Conventional, fixed-rate, adjustable-rate mortgage (ARM), VA, FHA and USDA loans
Pros
- Six physical branches
- No points, no closing costs
- Offers preapproval
Cons
- No mortgage rates online
- Cannot apply for mortgage online
Find your mortgage match
Get paired with your best mortgage offers in 2 minutes or less.
HomePlus Mortgage overview
Loan types
- Conventional
- Fixed-rate
- Adjustable-rate mortgage (ARM)
- VA
- FHA
- USDA
Lender fees
HomePlus Mortgage is a broker; fees are not provided online.
Minimum borrower requirements
HomePlus Mortgage follows Fannie Mae’s underwriting guidelines, which means borrowers need a minimum credit score of 620 and can put as little as 3 percent down.
Borrowers also can have a maximum debt-to-income ratio, or DTI, of 50 percent with a Fannie Mae HomeReady Mortgage. That means the sum of your monthly debts (including the new mortgage payment) cannot exceed 50 percent of your gross monthly income.
Get started with HomePlus Mortgage
Borrowers can apply for preapproval only online or by phone. If you apply online, a representative will contact you.Hours
HomePlus Mortgage consumer rating and reviews
99% recommended
Customer Service Rating