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Mutual of Omaha Mortgage Mortgage Rates Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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Founded in 2013, Mutual of Omaha Mortgage is a full-service mortgage lender that offers borrowers a wide range of first mortgage and mortgage refinancing options. The company operates nationwide and allows customers to pre-qualify, apply for a mortgage, and complete the loan process entirely online.
 
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How is Mutual of Omaha Mortgage rated?

Breakdown

4.5/5
Lender Types
4.5/5
Available Mortgage Types
5.0/5
Customer Experience
5.0/5
Reputation & Transparency

Overall Rating: 4.6 / 5 (Excellent)

Mutual of Omaha Mortgage provides prospective home buyers plenty of options to choose from. From government-backed to conventional and jumbo mortgages, the company's portfolio of loan products can accommodate buyers whose needs may vary greatly.

Borrowers can complete the prequalification, application, and closing stages of the mortgage process entirely online. The company's website offers convenient calculators—including one that allows you to look at government-backed and conventional loan scenarios side-by-side. You'll also find daily rate updates and other resources to assist you with comparison shopping or simply to learn more about the mortgage process.

Mutual of Omaha Mortgage Loan Specifics

Available Mortgage Types - 4.5 / 5

Mutual of Omaha Mortgage offers a full complement of mortgage products. Borrowers can choose a fixed- or variable-rate loan and select from a range of loan terms. Eligible borrowers can apply for a VA, USDA, or FHA loan through the company. Mutual of Omaha Mortgage also offers conventional financing, jumbo loans, and mortgage refinancing.

Types of Mortgage Loans Offered

  • Fixed Rate 30 Year

Mutual of Omaha Mortgage Customer Experience

Customer Experience - 5 / 5

Customers are likely to find Mutual of Omaha's online experience easy enough. The company describes the types of loans it offers in some detail, discusses the advantages of fixed-rate versus of adjustable-rate mortgages, and allows users to check its best rates as they change daily.

Most realtors will tell you that it pays to get prequalified for a loan before you even start house-hunting. Doing so sends a signal to home sellers that you're a serious buyer who is capable of getting financing. Mutual of Omaha Mortgage can prequalify you and show you the estimated loan offers that may be available to you. That also makes it easier to compare lenders and offers to find the best deal. Prequalifying won't affect your credit score

. Once you've found the home you want to buy, you can complete the mortgage application and closing process entirely online. One issue we found with Mutual Omaha's presentation of information was the lack of information on the company's minimum credit requirements or any loan-to-value ratio restrictions the company may have. Without that information, customers may hesitate to apply for a mortgage rather than risk being turned down. Every mortgage application you make has the potential to lower your credit score and that's a risk some home buyers might not want to take.

Online Features

Online Application
Yes
Online Quote
Yes
Additional Tools and Resources
Mortgage Calculator
Help Articles
SSN Required for Quote
No

Mutual of Omaha Mortgage Qualification Requirements

Qualification Requirements - 4.5 / 5

Mutual of Omaha Mortgage does not specify the qualification requirements they adhere to when (or if) they decide to extend a loan offer. All lenders use such measures as minimum FICO score and debt-to-income and loan-to-value ratios in their decision-making process. That makes it somewhat difficult for homebuyers who are shopping for the right mortgage lender to evaluate Mutual of Omaha Mortgage. Mortgage applications aren't something you want to gamble on. Each time you submit one, your credit score may suffer. Most people would want to be sure they have a fighting chance with a lender before proceeding with an application. Mutual of Omaha Mortgage could certainly be more transparent on their qualification criteria.

Mutual of Omaha Mortgage Lender Reputation

Reputation & Transparency - 5 / 5

Mutual of Omaha Mortgage earns an A+ rating from the Better Business Bureau. Its less-than-stellar Trustpilot score (2.5 or poor) may be due in part to the fact that the company shares a brand under which many financial services are offered. Many of the negative Trustpilot reviews we read had nothing to do mortgages, but rather to do with insurance and other products. That's why we also the with the Consumer Financial Protection Bureau and the Nationwide Mortgage Licensing System to get a sense of how ethically lenders run their businesses. In Mutual of Omaha Mortgage's case, both measures reveal a pretty upstanding company with a very low complaint-to-loan ratio.

Key Facts

Lender Type
Direct Lender
Year Founded
2013
BBB Rating
A+
Trustpilot Rating
4.7 out of 5
Collection Date
2021-03-08

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
1025894
The Nationwide Mortgage Regulatory Actions
3
Consumer Financial Protection Bureau Complaints
18

Company Profile

Full Name
Mutual of Omaha Mortgage Mortgage Rates
Company Website
https://www.mutualmortgage.com
Headquarters
3131 Camino Del Rio N, San Diego, CA, 92108

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