One True Loan Mortgage Review 2021

Written by
Josephine Nesbit
Edited By

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

At a glance

Visit One True Loan website

4.6

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Bankrate Score

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Find my best matches
Mortgage percent icon

Loans offered

Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; flex-term
Location Icon

Nationwide availability

Available in California, Idaho and Oregon
Credit good icon

Min. credit score required

620 for conventional loans; 680 for jumbo loans; 580 for FHA loans; 620 for VA loans

Pros 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.

Reputation 

One True Loan is a Better Business Bureau-accredited business with an A+ rating, five out of five stars and no customer complaints.

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. In general, minimum FICO scores, minimum down payment and maximum debt-to-income ratio (DTI, the percentage of your monthly gross income used to pay debts) can range from, respectively:

  • Conforming loans up to $548,250: 620 credit score minimum, 5% down, 43% DTI
  • Super conforming loans up to $822,375: 620 credit score minimum, 5% down, 43% DTI
  • Jumbo loans up to $2.5 million: 680 credit score minimum, 5% down, 43% DTI
  • FHA loans: 580 credit score minimum, 3.5% down, 48% DTI
  • VA loans: 620 credit score minimum, 0% down, 43% DTI

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

Breakdown of One True Loan overall review score 

  • Affordability: 14.75/15
  • Availability: 14/15
  • Borrower experience: 13/15

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.

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

One True Loan consumer reviews

5.0

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

64 reviews

5 stars
4 stars
3 stars
2 stars
1 stars
64
0
0
0
0

Customer service rating

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0

100% of reviews would recommend this lender

5 of 5 rates honored

Review this lender

Write a review of your experience with One True Loan Inc.

5 of 5 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.

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Repeat Customer - Still Impressed

Josh Cruz | Downey, CA | 12/14/2020

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Best rates and seamless transaction

Phil | Idaho | 1/15/2021

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Excellent service, great rates and low fees

Steve P | Idaho | 2/27/2021

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

This is truly a 5 star company!!

One True Loan has the best customer service I've ever experienced! | Ketchum, ID | 7/4/2021

  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon
  • star icon

Seamless, friendly and lowest rates!

Susan, 20 year refi completed in less than 45 days. | Portland area | 9/9/2021