Orchard Mortgage Review 2022
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At a glance

4.7
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancingNationwide availability
Available in Alabama, Alaska, California, Colorado, Florida, Georgia, Iowa, Kansas, Kentucky, Louisiana, Minnesota, Montana, New Mexico, North Dakota, Ohio, Oregon, South Dakota, Texas, Washington, Wisconsin and WyomingMin. credit score required
680 for conventional loansPros and cons
Pros
- Streamlined application managed online; takes approximately 15 minutes to complete
- Low overhead can yield lower rates
- Closings average 30 days
Cons
- Only available in some states
- Doesn’t offer some specialized mortgages, including construction and USDA loans
Orchard Mortgage overview
Orchard Mortgage, a mortgage broker and lender, offers “The Online Everything Mortgage” that allows borrowers to manage their loan applications completely online. The broker and lender was founded in 2019 by mortgage industry veterans and animal enthusiasts Sean Marsh and Christopher Russow, and is headquartered in San Diego, California.
Good for
Borrowers looking for the best deal, instant rate quotes and a fast application process
Loan types
- Conventional
- Jumbo
- FHA
- VA
- Fixed-rate
- Adjustable-rate
- Rate-and-term and cash-out refinancing
Lender fees
Orchard Mortgage typically charges a processing fee and underwriting fee, the cost of which depend on loan type (and lender, if you’re working with Orchard as your broker). When you search for rate quotes on the Orchard Mortgage website, you can view a list of fees under the “Loan Details & Summary.”
Rates
Orchard Mortgage advertises 30-year and 15-year fixed rates on its website and updates them daily. To get a rate quote, you’ll need to fill out a brief form online with variables such as your zip code, purchase price and down payment. Your quote comes with a breakdown of your mortgage payment, closing costs and fees and an amortization schedule. In addition, you have the option of entering your contact information to receive rate watch updates for a specified amount of time or until rates reach your desired level.
Online services
Orchard Mortgage allows borrowers to apply for a mortgage online, after creating an account, in a process that takes about 15 minutes, according to the lender, and there is no need for in-person document signings since it can do e-closings. Once you set up an account, you can communicate with a loan officer through email, text or the lender’s 24/7 online portal.
Minimum borrower requirements
Because Orchard Mortgage is primarily a broker that works with other lenders, there is a wide range of borrower requirements. For government loans such as FHA and VA, Orchard Mortgage follows national guidelines:
Note that Orchard Mortgage doesn’t have flexible underwriting and doesn’t consider alternative data, such as rent history, as a substitute for a thinner credit profile.
Refinancing with Orchard Mortgage
Orchard Mortgage offers rate-and-term and cash-out refinancing. Like the purchase loan application process, you can apply for a refinance by filling out a questionnaire online.
Not sure if Orchard Mortgage is right for you? Consider these alternatives
- Cherry Creek Mortgage review: First-time homebuyer programs available
- SoFi mortgage review: Two-minute prequalifications online
- USAA mortgage review: Low-rate credit union specializing in VA loans for military members
- Allied Mortgage Group review: Can work with self-employed borrowers or those who’ve encountered foreclosure due to special circumstances
- Ally Bank mortgage review: Fast closings
Breakdown of Orchard Mortgage overall review score
- Affordability: 5/5
- Availability: 4/5
- Borrower experience: 5/5
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.
Orchard Mortgage consumer reviews
4.8
74 reviews
Customer service rating
95% of reviews would recommend this lender
10 of 10 rates honored
Review this lender
Write a review of your experience with Orchard Mortgage.
10 of 15 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.
Simple, Fast and Easy
Nick Shanker | Fairview, TX | 7/9/2021
Loan Monkey is a great lender to work with. The whole process was quick easy and hassle-free. Communication was excellent and the advisors were knowledgeable and great to work with. I felt comfortable throughout the entire process.
Excellent!
Great Communication | Riverside County | 7/10/2021
Loan Monkey did an excellent job! The application process was easy and they were able to close the loan fast which is important in this market. Melinda went above and beyond helping us and answering questions. She is very quick to respond. Rachel, Jennifer and Gage all did an excellent job as we...
BEYOND SATISFIED!
Ruby H. | Fontana, California | 7/15/2021
My experience with Loan Monkey was amazing, specially working with my Loan officer Melinda Steers. When I started this process, I made sure to do my due diligence and called around and spoked with a lot people, some direct lenders and some brokers. From the very beginning Melinda provided great cu...
Great Rates, Efficient Communication, and Flexible
John Lee | Buena Park, CA | 9/4/2021
I first approached LoanMonkey because of their competitive rates, but I soon realized that I was also getting great service. My Loan Officer Sonja and Loan Processor Jennifer Campbell moved my application forward in record speed. As we approached closing, my financial situation changed, which adde...
honest, efficient, rapid response
Ruth | San Jose | 9/22/2021
LoanMonkey's quote for the interest rate is very transparent with all the fees and credits list out very clearly. Michael Altman was so helpful and checking the interest rate for me for over 10 day period, very patient, professional and not frustrated. Even after he locked the rate, he continue to b...
Fastest refinance we ever had
J & C | Placentia, CA | 9/22/2021
We just refinanced with Loan Monkey, Tyler Thiel was my loan officer and Olivia Reynolds was my loan coordinator. It was a bit skeptical , by seeing on Bankrates.com if Loan Monkey with 5 star review ,but only around 62 reviewers. But I give it a shot , Tyler gave us the loan estimate and lock...
Fabulous team, quick close
John L | Irvine CA | 9/26/2021
After I submitted my request to loanmonket for a rate quote request, I was contact by loanmonkey within 5 mins and I spoke to Neal as my consultant. Neal was great! He guided me through the process and was very detailed and patient. He also made some great suggestions that saved me money and time. T...
Very happy with Loanmonkey and the overall process!
AZ | San Jose | 9/29/2021
I just closed my loan with Loanmonkey and I am glad I did. As much as the rates I received from loan monkey where the most competitive, the major reason I chose them is because the good customer service I got from the first phone call I had with Tyler Thiel. Before I spoke to Tyler, I interfaced wit...
Great Lender To Work With!
Navid | San Jose | 9/30/2021
I had a great experience with Melinda. The rates were the best I could find and I loved the transparency and communication throughout the entire process. I will definitely call Melinda and Loan Monkey in the future!
The best loan experience ever!
Brey F. | California | 9/30/2021
I want to give my heartfelt thanks to the LoanMonkey team, led by Neal Arnove and Rachel Silvas. They were tenacious in getting everything done as fast as possible for me to close right on time! On top of that, the deal we agreed too was amazing. In fact, during signing our notary said it was th...