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If you’re looking for an online-only process without annoying fees, ZeroMortgage could be your lender. However, it only offers conventional mortgages.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, jumbo, fixed-rate, adjustable-rate; refinancing; investment property
Min. credit score required
620 for conventional loans
Nationwide availability
Available in most states (not AK, MA, NJ, NV, NY, VT, WA)
Min. down payment
3% for conventional loans
The customer 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. Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
We had an amazing experience working with Alexander Rodriguez and Laura Delallo at Zero Mortgage. They were incredibly supportive when my husband and I were purchasing our first home. They were kind and patient, responded to our inquiries promptly, and made sure there were no delays or roadblocks in...
Supportive, Organized, Prompt
Dallas, TX (Oct 5, 2022)
NMLS: 7872
State License: MC-5688
4.1
Bankrate Score
Loans offered
Conventional, jumbo, fixed-rate, adjustable-rate; refinancing; investment property
Nationwide Availability
Available in most states (not AK, MA, NJ, NV, NY, VT, WA)
Min. credit score required
620 for conventional loans
ZeroMortgage, an affiliate of Interfirst Mortgage Company, is an online-only mortgage lender headquartered in Chicago. If you qualify, you could get a preapproval in as little as one day, and close in 30 days to 45 days, according to the lender. Importantly, this lender doesn’t charge points, application fees, lender fees or other hidden fees.
Online application process
Speedy preapproval
No points or hidden fees
Doesn’t offer government-insured loans like FHA, VA or USDA loans
Not available in all states
If you’re looking for an online-only process without annoying fees, ZeroMortgage could be your lender. However, it only offers conventional mortgages.
To determine ZeroMortgage’s Bankrate Score, Bankrate’s editorial team rated it and other 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.) We derived its overall score by considering three basic factors:
Affordability differs from lender to lender, so comparing costs is key. ZeroMortgage doesn’t advertise current rates on its website, but you can start the process online to obtain a quote tailored to your situation (and without a credit check). You won’t have to pay an application or underwriting fee with this lender, nor points to buy down your rate.
This factor can make the overall mortgage application process smoother or more challenging. ZeroMortgage offers conventional mortgages, both conforming and non-conforming for more expensive properties. It doesn’t offer government-insured loans, however. The lender is licensed in most states but doesn’t operate everywhere.
Know what to expect when you work with a specific lender. ZeroMortgage and its affiliated brands have originated $3 billion in loans to date. The lender is accredited by the Better Business Bureau and has an A rating from the organization, with overwhelmingly positive reviews from customers on the BBB website. If you're interested in a loan with Zero, you can apply online, and the lender offers both preapprovals and prequalifications. It also offers email and phone support, and the convenience of e-signature on some documents.
You can apply for a purchase loan or refinance on the ZeroMortgage website or by calling 800-520-7087.
Here are some tips to prepare for the process:
Zero Mortgage offers refinancing options, which you can apply for online. The lender doesn’t advertise refinance rates directly on its website, but it also doesn’t charge fees on any of its loan products. You can start the refinance process on ZeroMortgage’s website.
Bankrate’s expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.
Bankrate’s reporters and editors have decades of experience covering the mortgage industry. They’re skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here’s how we assess each of the categories:
Bankrate’s editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.
Bankrate’s methodology page spells out our rating process in greater detail.
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Rating: 4.1 stars out of 5
4.1
Bankrate Score
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Loans offered Conventional, jumbo, fixed-rate, adjustable-rate; refinancing; investment property |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property; flex-term |
Min. credit score required 620 for conventional loans |
Min. credit score required 620 for conventional loans, 700 for jumbo loans, 580 for FHA loans, 620 for VA loans |
Min. credit score required 620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans |
Down payment 3% for conventional loans |
Down payment 3.5% for FHA loans |
Down payment 3% for conventional conforming loans, 3.5% for FHA loan, none for VA loans, 10%-15% for jumbo loans |
Nationwide availability Available in most states (not AK, MA, NJ, NV, NY, VT, WA) |
Nationwide availability Available in all U.S. states |
Nationwide availability Available in all U.S. states |
NMLS: 7872
State License: MC-5688
4.5
448 ratings
This lender has 1 reviews.
91% of customers would recommend this lender.
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.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
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.
Terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?