Mortgage Refinance Review

Rating: 9 / 10 (Excellent)
Disclosure: We receive advertising revenue from this partner. 
Learn more. is Magnolia Bank's automated underwriting engine. Since 1919, Magnolia Bank has operated as an independent community banking institution offering personal and commercial services across the United States. takes a different approach to online mortgage quotes by doing away with exploitative sales tactics and streamlining the underwriting experience for consumers.

How is rated?


Loan Options
Application Process

Overall Rating: 9 / 10 (Excellent) utilizes an automated underwriting engine powered by Magnolia Bank. The system streamlines the underwriting process by analyzing every aspect of a borrower's qualifications to determine which loan products best meet their needs. Instead of working with a traditional salesperson, borrowers are assigned a Loan Coordinator that guides them through finalizing the process, doing away with sales steering and misinformation. Although this approach makes it easier for consumers to shop for quotes and compare options, we advise prospective borrowers to evaluate their loan offers thoroughly before making a final decision.

Loan Options

Lender Type
Loans Offered
Rate & Term
Loan Programs
Fixed Year Terms
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
Adjustable Rate Mortgage Terms
7/1 ARM
5/1 ARM
3/1 ARM

Loan Options - 9 / 10

As an online lender, Magnolia Bank has access to a broad range of mortgage and refinance options and thousands of loan programs, including VA, FHA, jumbo, and conventional loans. Since they can match their borrowers with a number of different loan programs, their terms are also quite varied, ranging from 10 to 30 years for fixed interest rate options and five to seven years for adjustable rate mortgages.

Application Process

Minimum Credit Score
FHA Minimum Credit Score
Maximum Debt-to-income ratio

Application Process - 9 / 10's mortgage refinance application process can be completed quickly and without great hassles. Borrowers only have to provide their basic loan details to view their interest rate and payment savings. Once they have chosen a loan program and interest rate, they can create an online account and complete their application in as little as five minutes. As soon as the application is submitted, the borrower will be able to print out their loan disclosures and obtain a list of the documents required from them. Finally, once they have gathered and submitted all formal disclosures and necessary documents, they can receive formal approval in 48 to 72 hours. Consumers should be aware that although they can obtain an underwriting decision reasonably quickly through, actual closing times will depend on the accuracy of the information provided, the loan program being applied for, and other factors such as their availability to communicate with loan officers and notaries. Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
Nationwide Mortgage Regulatory Actions
NMLS Collection Date
CFPB Total Mortgage Complaints
Total VA Loans Written (Q1 2017)
102 loans
Total VA Loan Amount (Q1 2017)

Online Reviews

BBB Rating
Date Collected

Reputation - 9 / 10 has no regulatory actions with the Nationwide Mortgage Licensing System. The company has an A+ with the BBB and doesn't appear to have any complaints with the CFPB.

Contact & Additional Information

Homepage URL
Company Phone
(800) 276-2965
Headquarters Address
31726 Rancho Viejo Road Suite 206, San Juan Capistrano, CA, 92675
Year Founded

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Customer Comments & Reviews

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Irvine, California
I used Close Your Own for my last home loan and the entire team of people there were wonderful. The process was quick and easy and I actually was able to close on my new loan earlier than expected. I would highly recommend them to anyone looking for a home loan. Special thanks specifically to Greg Encarnacion. He was so nice and responded to every question quickly.

Our Partner
9.0 / 10
  • $1,000 Best Rate Guarantee
  • BBB Accredited with an A+ rating
  • No upfront personal information needed
  • 620 minimum credit score requirement
  • Member FDIC and Equal Housing Opportunity Lender