Morty Mortgage Review 2023
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At a glance
Conventional, jumbo, FHA, fixed-rate, adjustable-rate; rate-and-term refinancing (only if you closed your original purchase with Morty)
Available in all states except Hawaii, Massachusetts, Missouri and Nevada
Min. credit score required
620 for conventional loans; 620 for jumbo loans; 600 for FHA loans
Pros and cons
- Easy online process
- Offers five-minute preapprovals as well as applications in less than 15 minutes
- Excellent past customer reviews
- Limited refinancing options
Morty is good for
Borrowers with strong credit scores who are looking for a conventional or jumbo loan up to $2 million
Breakdown of Morty overall score
Affordability: Morty displays the latest rates on its website, which you can personalize to your situation. As of this review, its 30-year fixed rate offer was well below Bankrate’s average.
Availability: This broker works with borrowers in most states and recently added FHA loans to the mix, albeit with a higher minimum credit threshold compared to some other lenders.
Borrower experience: Morty aims to deliver a tech-forward mortgage experience, from getting preapproved and submitting your financial documentation to closing.
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.
Morty displays transparent sample rates online that you can customize with a few key details: purchase price, down payment, zip code and estimated credit score. For a specific loan estimate, you’ll need to share additional details and sign up with your email address. The broker charges a commission fee based on the amount of the loan, but this fee is paid by the lender, not you directly. The broker doesn’t charge fees for an application, credit check or locking your rate.
Morty operates in 46 states and Washington, D.C. As of late 2022, the only states missing from its national footprint were Massachusetts, Missouri, Nevada and Hawaii. The broker offers conventional (conforming and non-conforming) and FHA loans with fixed and adjustable rates. It also offers rate-and-term refinancing, but only if you closed your initial purchase loan with the broker.
Borrower experience: 4.3/5
Morty has been in business since 2016 with more than $1.9 billion in loans since. The broker is accredited by the Better Business Bureau and has an A+ rating from the organization. It has a rating of 4.8 stars, or “Excellent,” on Trustpilot. Its loan officers are available Monday through Friday, 9 a.m. to 7 p.m. ET.
Refinancing with Morty
If you’re looking to refinance your existing mortgage, the only way you can do it with Morty is if your original mortgage was obtained through the brokerage. It’s unclear what fees apply for refinancing. The brokerage also offers recasting, which doesn’t involve a new application but can lower your monthly payment and total interest for a cost, typically around $10,000.
Alternatives to Morty
- Guaranteed Rate mortgage review – Available in all 50 states with a wider selection of loan programs
- Rocket Mortgage review – One of the biggest names in home lending with excellent customer satisfaction scores
- eClick Lending mortgage review – Not as widely available, but a similar digital experience with more loan options
Morty consumer reviews
About consumer ratings
Customer service rating
83% of reviews would recommend this lender
0 of 0 rates honored
Review this lender
Write a review of your experience with Morty.
David McMillin is a contributing writer for Bankrate and covers topics like credit cards, mortgages, banking, taxes and travel. David’s goal is to help readers figure out how to save more and stress less.