Movement Mortgage Review 2021
Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.
At a glance
4.4
Bankrate Score
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Find my best matchesLoans offered
Conventional fixed-rate and adjustable-rate mortgages (ARMs), FHA, VA and USDA fixed-rate loans, Dream to Own home loan, jumbo fixed-rate loans, conventional co-op and condo loans, reverse mortgages, home equity lines of credit (HELOCs), land/lot loans and renovation loans; refinancing options include rate-and-term refinancing and cash-out refinancingNationwide availability
Available in all U.S. statesMin. credit score required
620 for conventional loans; 580 for FHA loans; 580 for VA loans; 580 for jumbo loans
Pros and cons
Pros
- Apply for a loan online or by phone
- Free customized rate quote
- Aims 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
- Offers Dream to Own home loan with no mortgage insurance required and down payment and closing costs assistance included
- Most documents can be e-signed early, saving time at closing
Cons
- Land/lot loans and home equity lines of credit (HELOCs) are brokered out
Movement Mortgage overview
Founded in 2008, Movement Mortgage is an online and brick-and-mortar lender that provides a variety of mortgage options and loans for homebuyers, including:
- Conventional fixed-rate and adjustable-rate mortgages (ARMs)
- FHA, VA and USDA fixed-rate loans
- Dream to Own home loan with no mortgage insurance required and down payment and closing costs assistance included
- Jumbo fixed-rate loans
- Conventional co-op and condo loans
- Reverse mortgages
- Home equity lines of credit (HELOCs)
Loan types
- Conventional fixed-rate and adjustable-rate mortgages (ARMs)
- FHA, VA and USDA fixed-rate loans
- Dream to Own home loan
- Jumbo fixed-rate loans
- Conventional co-op and condo loans
- Reverse mortgages
- Home equity lines of credit (HELOCs)
- Land/lot loans
- Renovation loans
- Rate-and-term refinancing
- Cash-out refinancing
Lender fees
Movement Mortgage lender fees, including origination fees, vary by loan type.
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). Depending on the loan, a minimum down payment of 3.5 percent is typically required (zero down for VA or USDA loans).
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Movement Mortgage consumer reviews
5.0
1 reviews
Customer service rating
100% of reviews would recommend this lender
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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.
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Great rates & service
Caldy | Hendersonville, NC | 11/10/2020
The entire process was great! Movement provided great rates and excellent service! I recommend them to everyone.