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LendingHome Mortgage Refinance Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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LendingHome is a company that specializes in residential mortgage financing, consumer mortgage, and hard money lending. It leverages technology and its team of experts to facilitate residential mortgage financing for homebuyers and real estate professionals. Since 2013, LendingHome has originated more than $1.75 billion in loans and help finance over 9,000 homes in the US.
 
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How is LendingHome rated?

Breakdown

4.7/5
Loan Variety
4.3/5
Ease of Process
4.5/5
Customer Service and Reputation
5.0/5
Discounts and fees

Overall Rating: 4.5 / 5 (Excellent)

LendingHome offers an attractive alternative to traditional mortgage applications. The company provides a streamlined approach to mortgage refinancing with loan applications done entirely online with step by step guidance. Its proprietary technology matches applicants with the best loan terms automatically while giving several loan options each with its own benefits to help borrowers make more informed decisions.

Loan Options

Lender Type
Lender
Loans Offered
Rate & Term
Cash-out
Loan Programs
FHA
Conventional
Jumbo
Fixed Year Terms
30 Year Fixed
15 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM

Loan Variety - 4.7 / 5

LendingHome offers both fixed and adjustable rates for its conventional, FHA and Jumbo mortgage refinance loans. Its minimum loan size starts at $100,000 with maximum loans up to today’s conventional limits.

Application Process

Minimum Credit Score
640
Maximum LTV
95%
Maximum Debt-to-income ratio
50
Closing Time
30 to 45 days
Waived Fees
LendingHome only charges an origination fee, all other fees are only applicable for 3rd party vendors (appraisal, title fees)

Ease of Process - 4.3 / 5

Borrowers are required to at least have a 640 or fair credit score to qualify for a loan. However, this means above average interest rates or less than ideal loan terms. LendingHome only requires a 5% equity which makes it easy for more homeowners to qualify for a mortgage refinance. This is significantly above industry standards with most lenders requiring homeowners to at least have 20% equity in their home to qualify for a loan.

LendingHome Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
1125207
Nationwide Mortgage Regulatory Actions
0
NMLS Collection Date
2017-11-08

Online Reviews

Trustpilot Trustscore
7.4
BBB Rating
A+
BBB Positive Reviews
0
BBB Negative Reviews
1
BBB Neutral Reviews
0
Date Collected
2017-11-08

Customer Service and Reputation - 4.5 / 5

LendingHome gets an excellent A+ rating with the BBB which generally reflects customer sentiment and ease of doing business with the company. A total of 8 complaints was filed with the BBB in the last 3 years but this has since been resolved with 2 being closed in the last 12 months. The company also scores 7.4 out of 10 or an average rating at TrustPilot but this is only based from a single review.

Contact & Additional Information

Homepage URL
https://www.lendinghome.com
Company Phone
(844) 415-4663
Headquarters Address
1 California St Fl 17, San Francisco, CA, 94111
Mailing Address
1 California St Fl 17, San Francisco, CA, 94111
Year Founded
2013

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