Movement Mortgage overview
Founded in 2008, Movement Mortgage is an online and brick-and-mortar lender that provides a variety of mortgage options, including conventional, jumbo and government-insured loans and reverse mortgages. The lender also offers rate-and-term and cash-out refinancing and construction and renovation loans. It has hundreds of branch locations spread across the majority of states.
Borrowers looking for a fast preapproval, service and closings, and convenience
- Rate-and-term and cash-out refinancing
- Home equity line of credit (HELOC)
- Condo and co-op loans
- Construction and renovation loans
- Reverse mortgage
Movement Mortgage lender fees, including an origination fee, vary by loan type.
Movement Mortgage’s mortgage rates are not 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.
Movement Mortgage ranked above-average in customer satisfaction for mortgage origination, according to J.D. Power’s 2021 report.
With Movement Mortgage, qualified borrowers 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 borrowers with their decision-making.
Minimum borrower requirements
Movement Mortgage adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA) and the U.S. Department of Agriculture (USDA). For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher). A down payment of 3.5 percent is typically required for an FHA loan; there is no down payment requirement for VA or USDA loans.
Refinancing with Movement Mortgage
Movement Mortgage offers refinancing options for those looking to secure a better rate or tap home equity. Borrowers will have to fill out the free rate quote form online to learn what rate they might qualify for. Refinancing comes with closing costs that typically include an appraisal fee and other expenses. According to the lender’s website, the appraisal fee can cost up to $1,500.
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Breakdown of Movement Mortgage overall review score
- Affordability: 3/5
- Availability: 5/5
- Borrower experience: 4.3/5
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.