HomePlus Mortgage Mortgage Review 2021

By Ellen Chang

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

HomePlus Mortgage

4.4

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Bankrate Score

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Loans offered

Conventional, fixed-rate, adjustable-rate mortgage (ARM), VA, FHA, USDA
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Nationwide availability

Available in Arizona, California, Colorado, Florida, Idaho, Montana, Oregon, Texas and Washington
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Min. credit score required

620 for conventional loans

Pros and cons

Pros

  • Seven physical branches
  • No points or closing costs
  • Offers preapproval

Cons

  • No mortgage rates online

HomePlus Mortgage overview

HomePlus Mortgage is a mortgage broker that matches borrowers with the right home loan, with 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 loans, adjustable-rate mortgages (ARMs) and government-insured loans like FHA, VA and USDA loans. In addition to San Diego, the company's brick-and-mortar branches are located in Carlsbad, Dana Point, Lake Forest and Mission Viejo, California, along with Phoenix, Arizona and Dallas, Texas. Borrowers can secure a preapproval "within seconds," according to the broker's website, and the company also has access to loans that don't require a debt-to-income (DTI) ratio calculation or income verification.

Loan types

  • Conventional
  • Fixed-rate
  • Adjustable-rate mortgage (ARM)
  • VA
  • FHA
  • USDA

Lender fees

HomePlus Mortgage has loan options with or without closing costs, including zero-point, zero-origination fee mortgages, according to its website.

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.

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HomePlus Mortgage consumer reviews

5.0

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291 reviews

5 stars
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286
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Customer service rating

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0

99% of reviews would recommend this lender

0 of 0 rates honored

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10 of 41 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.

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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Amazing, fast, service

David Hagle | San Diego | 5/25/2020

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Professional and knowledgeable

Chengfei | Sacramento | 5/25/2020

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Exceptional Customer Service Skills

Seth P. | Oceanside, CA | 5/29/2020

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Seamless and Painless

AMirras | 80537 | 6/10/2020

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great company

tony | 91402 | 7/1/2020

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Awesome customer service & speedy closing

LOTran | Thornton CO 80602 | 7/6/2020

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Great rate, easy Refi

Andrew D | Cambell, CA | 7/26/2020

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Honest and Transparent: Joe Vitiello

Hector | Fresno, CA | 7/31/2020

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Returning customer

Eric G | Carlsbad, CA | 7/31/2020

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High Recommend Zach

Kate | California | 8/18/2020