Orchard Mortgage Review 2023
The Bankrate promise
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
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; flex-term
Available in Alabama, Alaska, Arizona, California, Colorado, Florida, Georgia, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Montana, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Texas, Washington, Wisconsin and Wyoming
Min. credit score required
680 for conventional loans
Pros and cons
- Streamlined online application takes approximately 10 minutes to complete
- Low overhead can yield lower rates
- Closings average 24 days
- Not available in every state
- Doesn’t offer some specialized mortgages, including construction and USDA loans
Orchard Mortgage overview
Orchard Mortgage is a mortgage broker and lender headquartered in Austin, Texas. The company was founded in 2019 by industry veterans Sean Marsh and Christopher Russow. It caters to borrowers in several states, and offers the standard suite of loan options, including conventional and some government-insured loans.
Orchard Mortgage is good for
Borrowers looking for a fast approval, application and closing process
Breakdown of Orchard Mortgage overall score
- Affordability: Orchard Mortgage boasts some competitive rate offers, but you won’t see them unless you create a profile on the company’s website.
- Availability: Orchard Mortgage’s footprint has grown to more than 25 states. Be sure to check availability before you proceed with requesting a prequalification.
- Borrower experience: With its digital-forward platform, Orchard Mortgage offers a streamlined application process. If you need help with your loan, the company is also available via email or phone.
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’s rates are competitive compared to Bankrate’s averages, and the company strives for transparency when it comes to costs, advertising “no hidden fees” on its website. To get a rate quote, however, you’ll need to set up a profile online.
Orchard Mortgage is available to borrowers in more than 25 states. Its mortgage products include conventional, FHA and VA loans for home purchases and refinances. It also offers flexible loan terms beyond 15 years or 30 years, with as few as eight years an option. Generally, you’ll need at least 3 percent down to qualify for a loan through this company.
Borrower experience: 4.9/5
Orchard Mortgage was founded in 2019, then branded as LoanMonkey. It currently has an A+ rating from the Better Business Bureau.
If you’re interested in working with Orchard, you can set up a profile online to see rates and get prequalified, a process that typically takes 10 minutes or less, according to the company. If you’re eligible, you can expect an approval in 24 hours, and the average closing timeline on a home sale is currently 24 days. If you have questions, the company’s customer service hours are 9 a.m. to 6 p.m. ET.
Refinancing with Orchard Mortgage
Orchard Mortgage offers rate-and-term and cash-out refinancing. Like the purchase loan application process, you can begin the process of applying for a refinance by setting up a profile.
Alternatives to Orchard Mortgage
- 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
Orchard Mortgage consumer reviews
About consumer ratings
Customer service rating
95% of reviews would recommend this lender
1 of 1 rates honored
Review this lender
Write a review of your experience with Orchard Mortgage.
of 1 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.
Senior mortgage reporter
Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.