Homeside Financial Mortgage Review 2023

Breakdown of Homeside Financial overall score

• Affordability: Homeside Financial’s rates aren’t as competitive as those of other lenders. You’ll need to speak with a loan officer to learn what you might qualify for.
• Availability: This lender provides mortgages to borrowers in most states in the U.S., and in addition to conventional and government-insured loans, you’ll have access to construction or home improvement financing.
• Borrower experience: Homeside Financial is an experienced lender with high ratings from customers. You’ll be paired with a loan officer who can help you explore the right options for your situation.

• Methodology

  Bankrate's expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.

  Bankrate's reporters and editors have decades of experience covering the mortgage industry. They're skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here's how we assess each of the categories:

  • Affordability. Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) a lender's lowest advertised annual percentage rate (APR) based on Bankrate's sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors and 2) established-customer discounts or incentive pricing, when applicable.
  • Availability. Another factor is how quickly your loan application will be approved, and how many loan programs the lender offers. So we evaluate approval and closing timelines and diversity of loan products.
  • Customer experience. Finally, we delve into what it's like to deal with the lender as a consumer. We look at the lender's application process and availability of customer service support. We also consider the results of J.D. Power's 2022 Mortgage Origination Satisfaction Survey.

  Bankrate's editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.

  Bankrate's methodology page spells out our rating process in greater detail.

Affordability: 4/5

Homeside Financial doesn’t display mortgage rates on its website (you can, however, find rates on the Lower.com website). Generally, its rates are somewhat above Bankrate’s averages.

Availability: 4.3/5

Homeside Financial offers borrowers in most states the standard suite of loan products, including conventional, FHA, VA and USDA loans. This range might mean you have more options if you don’t qualify for a conventional mortgage. The lender can also help with financing if you’re planning to build or renovate a home. Its borrower requirements include a minimum 640 score.

Borrower experience: 4.6/5

Homeside Financial has closed more than 89,000 mortgages worth more than $20 billion. The lender isn’t accredited by the Better Business Bureau, but has an A+ rating from the organization.

Homeside Financial’s approach to the borrowing experience focuses on the partnership between the borrower and loan officer, so there’s a limit to how much of the process you can complete online. You can use the lender’s website to get in touch with a loan officer, and you’ll need to create an account in order to log into the application portal. Notably, the lender’s website includes several resources for borrowers, including a mortgage checklist with all the documents you’ll need to apply for a loan and a mortgage calculator.

Refinancing with Homeside Financial

Homeside Financial offers mortgage refinancing if you’d like to adjust the terms of your loan, lower your monthly payments or take some equity out of your home. You can start the application process through its website.

Alternatives to Homeside Financial

• Better mortgage review – Offers no fees and 24/7 access to support
• Ally Bank mortgage review – Good if you’re looking for a full online banking and home loan experience
• Citibank mortgage review – Good for low-down payment loans