One True Loan Mortgage Review 2022
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At a glance

4.5
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; flex-termNationwide availability
Available in California, Idaho and OregonMin. credit score required
620 for conventional loans; 680 for jumbo loans; 580 for FHA loans; 620 for VA loansPros and cons
Pros
- 1-Click Quote feature provides real-time rate quotes 24/7
- Lender credit available to eligible borrowers
- Special programs including flex-term and no-PMI loans
Cons
- Only available in three states
- Doesn’t offer home equity lines of credit (HELOCs) or home equity loans
- Non-qualifying mortgages (non-QM) not available
One True Loan overview
One True Loan is an online mortgage broker based in Orange, California, offering loans in three states (California, Idaho and Oregon). The broker boasts a proprietary loan origination and processing system specifically optimized to increase speed and efficiency while reducing costs. After submitting your income and asset documentation, a One True Loan mortgage advisor can provide you with a preapproval letter within one to two days. The broker offers the basic slate of mortgage options, plus some special programs, including Flex-Term, which allows you to refinance your loan and select your amortization term; the 100% Gift Program, which allows you to use gift money to help with the purchase of a home; and Pay Advantage, which gives borrowers the lowest payment with the least amount of money down and no mortgage insurance. The average closing takes 21 to 30 days, according to the broker.
Good for
Borrowers looking for flexible loan options and convenience with 24/7 real-time rate quotes
Loan types
- Conventional
- Jumbo
- FHA
- VA
- Fixed-rate
- Adjustable-rate
- Rate-and-term, cash-out and streamline refinancing
- Flex-term
Lender fees
One True Loan is a mortgage broker, so lender fees vary depending on your loan scenario and credit strength. Eligible borrowers can receive a lender credit to help offset fees. Lender credits and fees are shown when you run a rate quote on the One True Loan website.
Rates
One True Loan’s up-to-the-minute mortgage rates are available through its 1-Click Quote feature online. To see rates, the tool requests information about the location of the property, loan purpose, loan amount, property value and whether you want to use escrow impounds to include your taxes and insurance in your mortgage payment — no personal information is required. After you click to see your rates (which you can easily view side-by-side), you can download the loan estimate and compare it against competitors.
Online services
Borrowers can obtain a prequalification or preapproval or apply for a loan through One True Loan’s website, which allows you to submit documents and e-sign where applicable. There are also email and text capabilities for direct communication with the broker.
Minimum borrower requirements
One True Loan adheres to the conforming loan requirements and underwriting guidelines for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA). Requirements vary based on the loan and borrower.
Refinancing with One True Loan
One True Loan offers rate-and-term, cash-out and streamline refinancing. To apply for a refinance, you can fill out an application online, print the application or call the broker directly. The broker does not require an application fee or appraisal deposit. Like with purchases, you can run quotes and view refinance rates with the broker’s 1-Click Quote feature.
Not sure if One True Loan is right for you? Consider these alternatives
- Better.com mortgage review: Offers online convenience with no commissions or fees
- Chase Home Lending mortgage review: If you prefer a bank or direct lender available in all states
- LowRates.com mortgage review: Offers a range of mortgage products with some of the lowest rates and no hidden fees
- Caliber Home Loans mortgage review: Closings in as little as 10 days
- Anchor Home Mortgage review: Provides helpful resources including loan calculators, forms and glossary
Breakdown of One True Loan overall review score
- Affordability: 5/5
- Availability: 4.3/5
- Borrower experience: 4.3/5
Review methodology
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates 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. Here is our full methodology.
One True Loan consumer reviews
5.0
66 reviews
Customer service rating
100% of reviews would recommend this lender
4 of 4 rates honored
Review this lender
Write a review of your experience with One True Loan Inc.
4 of 4 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.
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.
This is truly a 5 star company!!
One True Loan has the best customer service I've ever experienced! | Ketchum, ID | 7/4/2021
One True Loan gave me the best rates around AND their customer service is exceptional!! Christine Yang and Jessica Torres handled my second loan. They answered my phone calls and emails within the hour, if not immediately. The ladies are professional, charming, and I always felt they were on my side...
Seamless, friendly and lowest rates!
Susan, 20 year refi completed in less than 45 days. | Portland area | 9/9/2021
One True Loan, and specifically Mo and Jessica, was a pleasure to work with. I chose One True Loan for its lower rates, lower closing costs, and ability to provide a 20 year loan. Added benefits were very personable interactions, patience in answering all my questions promptly, timely closing, tailo...
It was a professional, quick, very easy, and very positive experience
Fast, friendly and super professional | Portland, Oregon | 10/4/2021
Mo Mousa and Jessica Pehrsen-Preciat are ultimate professionals. They were always available, quick in responding to any situation, always answered every question, amazingly flexible, and extremely focused on customer service. As an example we needed a revision to our prequalification letter on Sund...
Excellent service
Bini Thomas | Idaho | 10/8/2021
I turned them down once just because my builder was giving more lender credit. But when I was in need of a refinance, I pulled their email address and contacted, just because my previous experience with them was satisfying (though I didn't end up considering them) Very professional and responsive, a...