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Freedom Mortgage Mortgage Refinance Review


ConsumersAdvocate.org Rating: 4.9 / 5 (Excellent)
11 Customer Comments & Reviews - see all comments
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Freedom Mortgage is a leading diversified consumer financial services company with over twenty five years of experience. They focus on mortgage lending, mortgage refinance, cash out refinance, and VA loans. Freedom Mortgage is a BBB-accredited business with an A- score. The company was founded in 1990 and is based in New Jersey.
 
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How is Freedom Mortgage rated?

Breakdown

4.9/5
Loan Variety
4.9/5
Ease of Process
4.9/5
Customer Service and Reputation
4.9/5
Discounts and fees

Overall Rating: 4.9 / 5 (Excellent)

Freedom Mortgage offers a variety of different mortgage refinance options. They score highly with us mainly due to their flexibility in loan options, customer service, and years of financial expertise and professionalism.

Loan Options

Lender Type
Lender
Loans Offered
Rate & Term
Cash-out
Loan Programs
FHA
VA
Conventional
HARP
USDA
Fixed Year Terms
30 Year Fixed
15 Year Fixed
Adjustable Rate Mortgage Terms
7/1 ARM
5/1 ARM
3/1 ARM

Loan Variety - 4.9 / 5

Freedom Mortgage offers conventional rate and term loans, as well as cash-out options, both of which have a variety of term lengths. Their portfolio also includes FHA, VA, HARP, and USDA-backed loans. The company has over 25 years experience providing mortgage options and is particularly a leader in VA lending. Freedom offers both fixed and variable rate options. Cash out refinances can typically be used to pay off higher-interest debt, make home improvements, or pay for education or other major expenses.

Application Process

Minimum Credit Score
620
FHA Minimum Credit Score
580
Waived Fees
No closing cost options are available.

Ease of Process - 4.9 / 5

Applying for a mortgage refinance loan with Freedom Mortgage is a fairly standard process and requirements.

Quotes can be obtained easily either over the phone or online. Minimum credit scores are quite fair, at 620 for conventional loans, 600 for VA, and 580 for FHA.

Freedom Mortgage Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
2767
Nationwide Mortgage Regulatory Actions
13
NMLS Collection Date
2019-10-16
CFPB Total Mortgage Complaints
2,309
CFPB Collection Date
2019-10-16

Online Reviews

BBB Rating
A-
Date Collected
2019-10-16

Customer Service and Reputation - 4.9 / 5

Freedom Mortgage maintains its membership as a licensed lender with the Nationwide Mortgage Licensing System, (ID number 2767). The company has 13 regulatory actions with the NMLS and 2,309 registered complaints with the Consumer Financial Protection Board for all mortgage classifications in total.

Contact & Additional Information

Homepage URL
https://www.freedommortgage.com/
Company Phone
(855) 344-3986
Headquarters Address
907 Pleasant Valley Avenue, Mt. Laurel, NJ, 08054
Year Founded
1990

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11 Customer Comments & Reviews

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R
Ronald C
2/21/2019
I applied for a home refinance. I explained my financial situation up front and also told how much cash I wanted to pull out . The first week everything was fine with "no problems". As time went along I was asked just about daily to supply different documents. It got to the point where i said let me all the documents needed for the refinance. After a months time I was offered a refinance with no where near the amount of money I wanted to pull out. The final thing was I was told they were still "playing with the numbers". I asked point blank was it going to happen. It was only then that I was told they would not do the refinance. Terrible customer service. In the months time i could have... Read More

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