Orchard Mortgage Review 2025

Orchard Mortgage overview

Orchard Mortgage is a mortgage broker and lender headquartered in Austin, Texas. It’s part of several affiliated businesses, including a real estate listing company, title companies and a home insurance company. It caters to borrowers in several states and offers the standard suite of loan options, including conventional and government-backed loans. The lender boasts that 98 percent of mortgages close on time.

Pros and cons of Orchard Mortgage

How Bankrate scored Orchard Mortgage

Affordability: 5/5

Orchard Mortgage’s rates are competitive compared to Bankrate’s averages (as of this review), and it offers low-down-payment mortgages. For these reasons, we scored it 5 out of 5 stars for affordability.

• Interest rates: As of this review, Orchard’s mortgage rates were below market average, based on Bankrate data.
• Down payment: For qualified borrowers, Orchard offers VA and USDA loans with no down payment, conventional loans with a minimum of 3 percent down and FHA loans with a minimum of 3.5 percent down.
• Fees: Because Orchard is a lender and a broker, it could charge you several fees that vary by loan type, loan amount and other factors. These include an origination fee of up to 3 percent of the loan amount, a $999 underwriting fee and a $245 processing fee.
• Closing costs: The amount you could pay in closing costs varies by the loan type — among other factors — but could total 2 to 5 percent of the loan amount.

Availability: 5/5

Because of the lender's reach and variety of loan programs offered, we scored it 5 out of 5 stars for availability.

• Home loans offered: Orchard’s portfolio of home loan programs includes conventional, FHA, USDA and VA purchase and refinance options.
• Footprint: Orchard does business in 33 states, including Alabama, Alaska, California, Colorado, Florida, Georgia, Idaho, Iowa, Kansas, Kentucky, Louisiana, Minnesota, Montana, New Mexico, North Dakota, Ohio, Oregon, South Dakota, Texas, Washington, Wisconsin and Wyoming.
• Where to find: You can start the mortgage process with Orchard online.

Borrower experience: 3.6/5

You can only get in touch with Orchard by calling or submitting a form. You’ll also need to submit contact information to see rates, and the lender only offers a 30-day rate lock. For these reasons, Orchard Mortgage scored 3.6 out of 5 stars for borrower experience.

• Preapproval and application process: To get started with Orchard Mortgage, you'll create an online account and wait for a loan officer to contact you and help you complete your application. The lender will then supply you with a prequalification letter to give you an idea of what you can afford. Once you find a home and have an offer accepted, you can lock in your rate and undergo the loan underwriting process. Upon approval, you'll be clear to close. 
• Transparency: Orchard Mortgage will give you a fully customized rate quote, but you’ll have to submit your contact information first.
• Customer service: You can reach Orchard Mortgage by calling 888-627-0677 or by filling out its online form.

Orchard Mortgage reputation

Orchard Mortgage is a small lender, originating only 203 mortgages in 2023 according to Home Mortgage Disclosure Act data. It has been accredited by the Better Business Bureau since 2020 and maintains an A+ rating.

Refinancing with Orchard Mortgage

Orchard Mortgage offers rate-and-term and cash-out refinancing options. To learn about refinance rates and costs, you'll need to create an online account and submit some information to the lender.

How to apply for a mortgage with Orchard Mortgage

You can apply for a mortgage with Orchard Mortgage online or by phone at 888-627-0677. Here are some tips to help 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 a home appraisal. (If you’re refinancing, you might or might not need an appraisal.)