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HomeLight Real Estate Mortgage Rates Review
ConsumersAdvocate.org Rating: 3.8 / 5 (Very good)
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Founded in 2012, HomeLight is a real estate technology company dedicated to making home buying, selling, and financing simple, certain and satisfying. The company offers a wide range of services including real estate agent matching, real estate investor matching, and mortgage products through its affiliated company HomeLight Home Loans. The company is privately held and located in San Francisco, California.
How is HomeLight rated?
Breakdown
4.0/5
Lender Types
3.5/5
Available Mortgage Types
3.8/5
Customer Experience
4.0/5
Reputation & Transparency
Overall Rating: 3.8 / 5 (Very good)
HomeLight provides software and services to home buyers, sellers, and real estate agents including HomeLight Home Loans™, HomeLight Closing Services™, HomeLight Trade-In™, and HomeLight Cash Offer™. They also offer mortgages when you've found a home you love and are ready to make a purchase. HomeLight holds lending licenses in 8 states.
For homebuyers, HomeLight offers fast prequalification: according to the company's website, it only takes five minutes. Prequalifying for a mortgage is an important step to take as you start shopping—and budgeting—for your new home. Knowing how much you will likely be able to borrow can help you focus your search on those homes you'll actually be granted financing for. If you decide to apply for a loan, HomeLight can get you preapproved in just 24 hours.
For sellers, HomeLight offers realistic, near-instant estimates on home values. The company also offers a buyer-seller matching service for those sellers who prefer to sell their homes without engaging a real estate agent.
All in all, HomeLight has a strong value proposition that may appeal to a lot of buyers and sellers.
HomeLight Loan Specifics
Available Mortgage Types - 3.5 / 5
HomeLight offers fixed-rate and variable-rate mortgages. We were unable to find any information on VA, USDA, FHA, or jumbo mortgages—options that many lenders offer and might represent the best option for qualified borrowers—on the company's website.
Types of Mortgage Loans Offered
- Fixed Rate 30 Year
- 5/1 ARM
- 7/1 ARM
HomeLight Customer Experience
Customer Experience - 3.8 / 5
HomeLight.com and HomeLightHomeLoans.com are both well-designed and offer a number of helpful resources for buyers and sellers, including an interactive home affordability calculator and a library of real estate-related articles. Topics range from how to shop for a mortgage to how to prepare your home for quick sale.
We also give the company points for posting its current mortgage rates on the site. Many mortgage lenders don't and that makes it really difficult to get a quick take on whether you want to consider doing business with them. As a homebuyer, you should be aware that these are benchmark rates and the actual rates you are offered may not comport with advertised rates.
Online Features
| Online Application | Yes |
| Online Quote | Yes |
| Additional Tools and Resources | Affordability Calculator Help Articles Videos Document Checklist Check Today's Rates |
| SSN Required for Quote | No |
Loan Closing Time
100% on-time
Decision and Closing Times
24 hours
HomeLight Qualification Requirements
Qualification Requirements - 4.5 / 5
HomeLight doesn't post specific qualification requirements such as minimum credit score or loan-to-value (LTV) or debt-to-income (DTI) ratios. However, the company does offer a helpful, interactive tool that can help you estimate LTV and DTI. You can use it to figure out how much you'll likely pay monthly on your mortgage and how adjusting certain factors (like your downpayment) will likely change to mortgage deal you're offered.
HomeLight Lender Reputation
Reputation & Transparency - 4 / 5
HomeLight has an excellent reputation. The company earns an A+ rating from the Better Business Bureau with close to 700 consumer reviews logged at the site. There are no regulatory actions on record with the National Mortgage Licensing System and no complaints filed against the company with the Consumer Financial Protection Bureau.
Key Facts
| Lender Type | Direct Lender |
| Year Founded | 2012 |
| BBB Rating | A+ |
| Collection Date | 0202-12-30 |
Complaints & Regulatory Actions
| Nationwide Mortgage Licensing System ID | 1529229 |
| The Nationwide Mortgage Regulatory Actions | 0 |
| Consumer Financial Protection Bureau Complaints | 0 |
Company Profile
| Full Name | HomeLight Real Estate Mortgage Rates |
| Company Website | |
| Headquarters | 100 1st Street, Suite 2600, San Francisco, CA, 94105 |
Disclosure
Eave, Inc. dba HomeLight Home Loans is an Equal Housing Lender. HomeLight Home Loans is committed to fair and responsible lending in offering competitive home financing opportunities to creditworthy consumers. It is our belief that all creditworthy customers should be treated fairly, equally, and have nondiscriminatory access to credit. HomeLight Home Loans does not discriminate against any applicant or customer on the basis of race, color, sex, sexual orientation, gender identity, religion, disability, age, veteran status, ancestry, national or ethnic origin, or the fact that the applicant receives public assistance or may have exercised rights under the Federal Consumer Credit Protection Act. HomeLight Home Loans fully complies with all laws applicable to the conduct of its business, including those laws prohibiting discrimination such as the Fair Housing Act and the Equal Credit Opportunity Act. It is HomeLight Home Loans policy to prohibit unlawful discrimination through either disparate treatment or disparate impact. Disparate treatment refers to applicants being treated differently based on one of the prohibited factors listed above, while disparate impact happens when a lending practice is applied to all applicants equally but has an unintended discriminatory result.
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