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LendingHome Mortgage Rates Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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Founded in 2013 and based in California, LendingHome specializes in mortgage loans and refinancing for homebuyers and property investors. With a focus on technology and service, its customer experience is tailored to complete the loan process quickly, efficiently, and completely online. The company has an A+ rating at the BBB.
 
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How is LendingHome rated?

Breakdown

4.0/5
Lender Types
4.7/5
Available Mortgage Types
4.5/5
Customer Experience
4.5/5
Reputation & Transparency

Overall Rating: 4.4 / 5 (Excellent)

LendingHome offers potential homeowners and property investors an online application process that strives to be as straightforward and transparent as possible. Pre-approval is as simple as filling out an online questionnaire. Documents can be uploaded directly onto a personal dashboard that marks the application’s progress and provides information along the way.

LendingHome Loan Specifics

Available Mortgage Types - 4.7 / 5

LendingHome does not explicitly advertise the types of mortgage loans it offers, however it does provide separate sections for homebuyers and property investors. The loan options available once the online process begins include fixed rate for 15 or 30 years, and 5/1, 7/1, and 10/1 adjustable-rate mortgages (ARM). Applicants will need to complete the online loan request questionnaire to verify pre-qualification and the minimum or maximum loan amount. Application and appraisal fees will apply.

Types of Mortgage Loans Offered

  • Fixed Rate 15 Year
  • Fixed Rate 30 Year
  • 5/1 ARM
  • 7/1 ARM
  • 10/1 ARM

LendingHome Customer Experience

Customer Experience - 4.5 / 5

LendingHome is focused on simplifying the customer's mortgage lending experience by providing a fully online and transparent application process. A personal dashboard with detailed steps guides users through the process, and agents are readily accessible via direct messaging or over the phone. Documents can be uploaded directly on the website. Other features like a mortgage calculator and informative blog posts are available on the site as useful reference tools for the potential buyer.

Online Features

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

LendingHome Qualification Requirements

Qualification Requirements - 4.5 / 5

LendingHome does not publish a minimum credit score requirement for a mortgage loan as this will vary by state and by the type of loan requested. However, a minimum FICO score of 620 is generally acceptable for conventional loans, while a lower score could qualify for FHA loans. The borrower will also be required to provide bank statements, asset and income documentation, as well as more specific documents such as the purchase and homeowner’s insurance contracts. All of these requirements are explained once the pre-approval process has begun.

LendingHome Lender Reputation

Reputation & Transparency - 4.5 / 5

LendingHome currently has a 7.4 rating from Trustpilot.com and no CFPB complaints. The BBB rates it A+, with 3 negative reviews and 11 customer complaints in the last 3 years. Much of the online complaints stem from the application or appraisal fees and for supposedly excessive paperwork. However, LendingHome’s website expressly states the documents needed to complete the loan process and that an appraisal fee will be required.

Key Facts

Lender Type
Direct Lender
Year Founded
2013
BBB Rating
A+
BBB Positive Reviews
0
BBB Negative Reviews
3
Collection Date
2018-06-28

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
1125207

Company Profile

Full Name
LendingHome Mortgage Rates
Company Website
https://www.lendinghome.com/
Headquarters
315 Montgomery Street, 15th Floor, San Francisco, CA, 94104

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