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Freedom Mortgage Cash Out Refinance Review

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Founded in 1990 and based in New Jersey, Freedom Mortgage is a direct mortgage lender offering highly competitive mortgage rates, a seamless application process that delivers quotes in minutes, and award-winning customer service. The company, which holds an A- rating with the Better Business Bureau, offers a wide variety of mortgage programs, including jumbo and government-backed loans.

How is Freedom Mortgage rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Freedom Mortgage doesn't offer home equity loans, but does provide mortgage refinance loans, which also take advantage of the equity accumulated in a home. These can be an excellent alternative, especially since the company offers some of the most competitive rates in the industry and lenient qualification requirements, paired with thorough attention to customer service.

Freedom Mortgage Features

Lender Type
Online Lender
Loan Types Available
Cash-out Refinance
Cash-out Refinance Terms
15 Year Fixed, 30 Year Fixed
Cash-out Refinance Fixed Rates Starting At
3.545%
Origination Fee
$795
Closing Fee
3% of the purchase price

Freedom Mortgage Qualifications

Minimum Home Equity
96%
Minimum Credit Score
580

Freedom Mortgage Customer Experience

Total Consumer Financial Protection Bureau Complaints
2,309
Site Features & Technology
Online Quote

Memberships & Accreditations
Equal Opportunity Lender
Nationwide Mortgage Licensing System ID
2767
Nationwide Mortgage Regulatory Actions
13
BBB Rating
A-
Date Collected
2019-10-16

Contact & Additional Information

Homepage URL
Company Phone
(855) 342-8731
Headquarters Address
907 Pleasant Valley Avenue, Mt. Laurel, NJ, 08054
Year Founded
1990

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Customer Comments & Reviews

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toropower65
5/7/2020
I did work with Freedom Mortgage for 3 years, they managed my home loan in very efficient and very professional manner., thank you very much for your help that you provided to me during these 3 years, please keep giving this wonderful customer service to your clients. I will miss you., Carlos R Ruiz. from 6/15/2016 to 12/30/2020.


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Sharon J
12/27/2018
These guys are telling me a refinance of our home of which we did not want would cost over $8,300 in closing costs. We do not have that kind of money to add to the balance on our home. What they told me from the beginning and what they say now are two different things. they are trying to tell me what I want instead of me telling them what we want. We have a nice home which has a great deal of equity but are not paying over $8,300 in closing costs. I have to think that this must be money in the pocket of the originator and that takes us straight back to the beginning. They have wasted my time. Only other thing to do is file for a bankruptcy and people cannot understand why people... Read More


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Sharon J
12/19/2018
So far no go. I was told the in the very beginning the fees charged for closing would be at $4,000 plus a hundred or so but the papers come and the fees to close on this refinance would be $9,000? No go. I would rather file bankruptcy than borrow that kind of money refinancing our home. They lied to me from the beginning and that means they have lied about something else also. What they say and what they do are two different things and when they double the costs to close that makes it impossible and for us to borrow. Experience thus far is zero with these guys. I would not advise anyone to try them.