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Movement Mortgage Review 2023

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At a glance

Movement Mortgage
NMLS: 39179
Editor's take

A large national lender that focuses on convenience and speed, Movement Mortgage combines brick-and-mortar locations with online offerings, with fast 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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3.0
Rating: 3 stars out of 5

6 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

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Min. down payment

3% for conventional loans; 3.5% for FHA loans; none for VA loans and USDA loans

At a glance

Movement Mortgage

NMLS: 39179

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. The lender was the nation’s 19th-largest mortgage originator in 2022, according to federal data.
 
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Bankrate insight

In 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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    “6-7-1” process: underwriting in 6 hours, loan processing in 7 business days, closing in 1 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) handled by third parties

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    Mortgage rates not available online

Our Editor’s Take on Movement Mortgage

A large national lender that focuses on convenience and speed, Movement Mortgage combines brick-and-mortar locations with online offerings, with fast timelines for approving and processing applications.

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.

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.

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 loans; 3.5% for FHA loans; none for VA loans and USDA loans

Down payment

3.5% for FHA loans

Down payment

3% for conventional loans; 10%-15% for jumbo loans; 3.5% for FHA; none for VA loans

Nationwide availability

Available in all U.S. states

Nationwide availability

Available in all U.S. states

Nationwide availability

All U.S. states

Movement Mortgage customer ratings and reviews

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NMLS: 39179

3.0

Rating: 3 stars out of 5

6 ratings

Info

This lender has 2 reviews.

Knowledge
Rating: 3.3 stars out of 5
Level of service
Rating: 3 stars out of 5
Professionalism
Rating: 3 stars out of 5
Responsiveness
Rating: 3.3 stars out of 5
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50% of customers would recommend this lender.

of 2 reviews

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