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finder.com’s rating: 3.6 / 5.0
★★★★★
Churchill Mortgage embraces a mission to lead borrowers toward debt-free solutions. The mortgage banker offers various products for new homes, investment properties and refinancing with flexibility for those without credit scores. But its “debt-free” guidance may not appeal to everyone.
620
Minimum credit score
3.5%
Minimum down payment (Conventional)
Not available in: HI, NV, NY
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Refinance |
---|---|
Minimum credit score | 620 |
Minimum down payment (Conventional) | 3.5% |
State availability | Not available in: HI, NV, NY |
NMLS # | 1591 |
Churchill Mortgage is not currently available on Finder
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Overall, Churchill Mortgage is a standard lender, offering all the traditional conventional and government-backed mortgage loans. This lender will likely appeal most to those living a debt-free lifestyle, which can negatively affect credit scores — or leave them without one. Fans of finance guru Dave Ramsey may already know of Churchill Mortgage and its no-score loan that allows a home buyer to finance their mortgage using their assets and payment history rather than a credit score.
But the no-score loan process can take up to three times as long as conventional underwriting. And the “debt-free homeownership” model may be a drawback for those in higher tax brackets or who embrace tax strategies that rely on interest deductions.
Basic eligibility for a traditional mortgage requires:
FHA, USDA and other government-backed loans are more lenient with your financial history and assets, while nontraditional loans may require stricter eligibility.
To learn whether you qualify for a specific loan, complete Churchill’s online form for a quote. From there, a home loan specialist will assist you in clarifying your goals to find the best home loan for your property and finances.
To apply for a loan with Churchill Mortgage, you’ll need to provide basic contact, financial and employment information that includes:
The company does not disclose its fees online but says you can expect to pay from 2% to 5% of your loan’s amount in closing fees.
Common fees you’ll encounter for a new mortgage include:
Applying for a loan with Churchill Mortgage starts online:
Churchill doesn’t offer any home equity products. The lender “brokers out” the home equity products, handing them off to other lenders. It offers the following specialty mortgage program:
Churchill Mortgage’s conventional and government-backed mortgage offerings are bolstered by unique loan programs, including one designed for those living debt-free who either have low or no credit scores.
For example, if you’re looking for a bank that offers home equity products, you can check out our guides to the best home equity loan lenders and best HELOC lenders. And if quick closing times are important to you, consider a more traditional lender like Rocket Mortgage, which claims a quick turnaround process, allowing some homebuyers to close within a week of their loan approval.
Regardless of whether Churchill Mortgage is right for you, shopping around is the best way to ensure you’re getting the best mortgage loan for you. Use the table below to compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
Churchill Mortgage has been accredited by the Better Business Bureau (BBB) since 1995. As of August 2022, it earns an A+ rating based on the BBB’s internal criteria, including years in business and the lender’s response to nine complaints in the last three years.
However, customer reviews are scarce and varied, with only five accounted for on the BBB site and an average of 2.8 out of 5 stars. Churchill gets a better rating from Trustpilot, where 587 customers give the lender an average TrustScore of 4.8 out of 5 stars.
Positive and negative reviews highlight individual loan officers who sufficiently helped with user experience or lacked appropriate communication. Some customers note a “seamless process,” while others say they were frustrated about appraisal results and the approval process.
Founded in 1992 by current CEO Mike Hardwick and headquartered in Brentwood, Tennessee, Churchill Mortgage is a mortgage lender that’s privately owned by its more than 400 employees. The company says it has helped more than 100,000 US families since its inception.
Churchill takes an atypical approach to the mortgage process, advocating for “debt-free homeownership.” Its mission is inspired by Hardwick’s relationship with financial expert and radio host Dave Ramsey, who pitched an advertising proposal 25 years ago. Today, Ramsey has more than 12 million listeners and accounts for 40% to 45% of Churchill’s new business every month.
Its relationship with Ramsey has inevitably affected the way Churchill does business. A debt-free company, it educates its customers toward a similarly debt-free lifestyle.