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A large national lender that focuses on convenience and speed, Movement combines brick-and-mortar locations with online offerings. And it stresses specific timelines for approving and processing applications.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, jumbo, FHA, VA, USDA; HELOC; condo and co-op loans; reverse mortgage
Min. credit score required
620 for conventional loans, 580 for FHA loans, 580 for VA loans
Nationwide availability
Available in all U.S. states
Min. down payment
3% for conventional conforming loans, 3.5% for FHA loans, none for VA loans
The customer 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. Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
Movement helped me secure our first home loan and walked us through the process quickly.
UTAH
Cedar city, UT (Apr 27, 2023)
4.1
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA; HELOC; condo and co-op loans; reverse mortgage
Nationwide Availability
Available in all U.S. states
Min. credit score required
620 for conventional loans, 580 for FHA loans, 580 for VA loans
Free customized rate quotes
Aims for “6-7-1” process: upfront underwriting within six hours of submitting application, loan processing within seven business days and closing in one day
Most documents can be e-signed in advance, saving time at closing
Land and lot loans and home equity lines of credit (HELOCs) actually handled by third parties
A large national lender that focuses on convenience and speed, Movement combines brick-and-mortar locations with online offerings. And it stresses specific timelines for approving and processing applications.
To create its Bankrate Score, Bankrate’s editorial team rated Movement Mortgage 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.). We derived its overall score by considering three basic factors.
Loan cost is a deciding factor for many borrowers. The affordability nature of loans differ from lender to lender, so comparing costs is key.
The lender’s mortgage rates aren’t available through its website. Borrowers must fill out an online rate quote form and then wait for contact from the lender to see what rate they qualify for.
Availability factors can make the overall mortgage-application process smoother or more challenging.
Movement Mortgage provides conventional loans as well as FHA, VA and USDA loans, along with options to refinance your existing mortgage. It’s also equipped to work with borrowers looking for condo loans, construction loans and home equity lines of credit. The lender operates in all states and has an extensive branch network.
Customer experience factors can help you know what to expect when you work with a specific lender. Movement Mortgage was established in 2008 and is accredited by the Better Business Bureau, with an A+ rating from the organization. Aside from the business end of things, the lender is known for its charitable endeavors, funneling its profits to its nonprofit Movement Foundation.
If you qualify for a Movement loan, you can get complete underwriting in as little as six hours after applying online, and the lender’s Movement Mobile app allows you to manage your loan, send files and more, all in one place. The lender also has e-signature capabilities and offers many calculators through its website to assist you with your decision-making. While it offers a wide variety of loans, some products are “brokered out”: that is, they are originated in Movement’s name but contracted out to third-party lenders.
You can apply for a purchase loan or a refinance in person at one of the physical branches, or on Movement Mortgage’s website. The company’s process is similar to other online lenders’, though Movement makes a point of specifying how fast it can be, aiming for what it dubs a “6-7-1” process: upfront underwriting within six hours of submitting application, loan processing within seven business days and closing in one day. (six hours to process an application, etc.).
Here are some tips for streamlining Movement’s already-speedy process:
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.
Gather personal and financial documents. With any lender, you must supply documentation proving your income, assets and debts. These documents typically include:
Those who are self-employed might also need to include additional information and undergo an income audit. This might include asking an accountant to verify your income is stable by speaking with customers; reviewing business records, like P&L statements; or taking other steps.
Provide details about the property. If it’s a purchase mortgage, you’ll need to supply the address of the home you’re buying and submit to an appraisal. If you’re refinancing, you may or may not need an appraisal.
This lender refinances existing mortgages, and its refi process is similar to the purchase process. Before you start, think about your goals. Are you refinancing to adjust your current mortgage’s rate and term? Do you want to tap into home equity? Do you want to change loan programs, such as refinancing out of an FHA loan into a conventional mortgage? Once you’ve settled on those details, you can apply through the lender’s website or via its call center.
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Rating: 4.1 stars out of 5
4.1
Bankrate Score
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Loans offered Conventional, jumbo, FHA, VA, USDA; HELOC; condo and co-op loans; reverse mortgage |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property; flex-term |
Min. credit score required 620 for conventional loans, 580 for FHA loans, 580 for VA loans |
Min. credit score required 620 for conventional loans, 700 for jumbo loans, 580 for FHA loans, 620 for VA loans |
Min. credit score required 620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans |
Down payment 3% for conventional conforming loans, 3.5% for FHA loans, none for VA loans |
Down payment 3.5% for FHA loans |
Down payment 3% for conventional conforming loans, 3.5% for FHA loan, none for VA loans, 10%-15% for jumbo loans |
Nationwide availability Available in all U.S. states |
Nationwide availability Available in all U.S. states |
Nationwide availability Available in all U.S. states |
2.6
5 ratings
This lender has 1 reviews.
40% of customers would recommend this lender.
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.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
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.
Terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?