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Movement Mortgage Review 2023

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At a glance

Movement Mortgage
Editor's take

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 Score
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4.1
Rating: 4.1 stars out of 5
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Customer Rating
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2.6
Rating: 2.6 stars out of 5

5 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA; HELOC; condo and co-op loans; reverse mortgage

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA loans

Location

Nationwide availability

Available in all U.S. states

Dollar Coin

Min. down payment

3% for conventional conforming loans, 3.5% for FHA loans, none for VA loans

Recent customer reviews

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.

Rating: 5 stars out of 5

Great company

Movement helped me secure our first home loan and walked us through the process quickly.

UTAH
Cedar city, UT (Apr 27, 2023)

At a glance

Movement Mortgage

4.1

Rating: 4.1 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA; HELOC; condo and co-op loans; reverse mortgage

Location

Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA loans

Movement Mortgage overview

Founded in 2008, Movement Mortgage is an online and brick-and-mortar lender that provides a variety of mortgage products, 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 650 branch locations spread across the majority of states.
 
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Bankrate insight

In November 2022, Movement partnered with Figure, a financial technology company, to offer faster approvals of home equity lines of credit (HELOCs).
 

Pros and cons of Movement Mortgage

Pros
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    Free customized rate quotes

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    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

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    Most documents can be e-signed in advance, saving time at closing

Cons
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    Land and lot loans and home equity lines of credit (HELOCs) actually handled by third parties

Our Editor’s Take on Movement Mortgage

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.

How Bankrate scored Movement Mortgage 

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.

  • Affordability: Movement Mortgage’s fees vary by loan. You’ll need to fill out a form to learn what rate offers might apply to your situation.
  • Availability: This lender works with borrowers in all states, offering products beyond the basics, including condo loans and construction loans.
  • Borrower experience: You can initiate a request for a rate quote and apply for a mortgage via the Movement website. The lender promises super-fast response times.

Affordability: 3/5

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: 4/5

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.

Borrower experience: 4.3/5

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.

How to apply for a mortgage with Movement Mortgage

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:

  • Pay stubs from at least the past 30 days
  • W-2s from the past two years
  • Proof of any other income sources (such as bonuses or commissions, child support or rental revenue)
  • Account statements, including checking, CDs and retirement savings, from at least the past two months
  • Documents detailing any loans you currently have
  • Letters explaining any new loans you’ve taken out recently
  • Letters from anyone giving you a gift to use for a down payment
  • Explanation (signed and dated) of any deposits over $1,000 other than normal pay into accounts.
  • Court records if you’re recently divorced or dealt with something like bankruptcy or foreclosure
  • Contact info for your landlords if the lender wants to verify payment
  • ID (such as a driver’s license or passport), so lenders can verify your identity and that you’re a U.S. citizen. Foreign nationals can get financing, but it’s much more complicated.

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.

Refinancing with Movement Mortgage

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.

Compare Movement Mortgage to other lenders

Movement Mortgage
Rating: 4.1 stars out of 5
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4.1

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LoanDepot
Rating: 4.4 stars out of 5
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4.4

Bankrate Score
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Read full review
Rocket Mortgage
Rating: 4.5 stars out of 5
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4.5

Bankrate Score
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Read full review

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

Movement Mortgage customer ratings and reviews

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2.6

Rating: 2.6 stars out of 5

5 ratings

Info

This lender has 1 reviews.

Knowledge
Rating: 3 stars out of 5
Level of service
Rating: 2.6 stars out of 5
Professionalism
Rating: 3 stars out of 5
Responsiveness
Rating: 2.6 stars out of 5
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60%

40% of customers would recommend this lender.

of 1 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.

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.

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