Movement Mortgage Mortgage Review 2021

By Erik J. Martin

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

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4.4

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Loans 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 refinancing
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Nationwide availability

Available in all U.S. states
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Min. 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)
The lender also offers rate-and-term refinancing, cash-out refinancing, land/lot loans and renovation loans. It has hundreds of branch locations spread across the majority of states.

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

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1 reviews

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Knowledge
5.0
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5.0
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5.0
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5.0

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.

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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Great rates & service

Caldy | Hendersonville, NC | 11/10/2020