Movement Mortgage Review 2023

How Bankrate scored Movement Mortgage 

To determine Movement Mortgage’s Bankrate Score, Bankrate’s editorial team rated it and other 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.) We derived its overall score by considering three basic factors:

• Affordability: Movement Mortgage’s fees vary by loan. You’ll need to fill out an online form to learn what rates you qualify for and any fees associated with those offers.

• 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 Mortgage website. The lender promises super-fast response times.

• Methodology

  Bankrate's expert editorial team gathers mortgage lender information through a variety of means, including direct contact with lenders, regulatory filings and assessments by reputable third parties. Our research takes into account three main factors: affordability, availability and borrower experience.

  Bankrate's mortgage reporters and editors have decades of experience covering the mortgage industry. Based on the three main criteria, our team evaluated more than 85 lenders, assigning each a Bankrate Score out of five stars. Here's how we assess each factor:

  • Affordability: Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) the lender's lowest advertised annual percentage rate (APR) based on Bankrate's sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors; and 2) established customer discounts or incentive pricing, when applicable. 

  • Availability: What loan programs does the lender offer, and how quickly will your application be approved and processed? We evaluate lenders for loan timelines and diversity of mortgage products. 

  • Borrower experience: Finally, we delve into what it's like to deal with the lender as a consumer, including the lender's application process and availability of customer service support. 

  Bankrate's methodology page spells out our rating process in greater detail.

  Our editorial team confirms the accuracy of data at the time of publication and is dedicated to maintaining the timeliness of information.
  

Affordability: 3/5

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

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

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 also known for its charitable endeavors through the 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 variety of loans, some products are “brokered out”: that is, 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 refinance in person at one of Movement’s branches or on the lender’s website.

Here are some tips to prepare for the process:

1. 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.

2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.

3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Movement Mortgage

Movement Mortgage can help you with a rate-and-term refinance, in which you get a new loan with a different rate, term or both; a cash-out refinance, in which you pull equity out of your home; or a streamline refinance if you have an FHA, VA or USDA loan.