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Finance of America offers a diverse selection of home loans for first-time buyers and existing home owners. But if you want information about fees and interest rates, you’ll need to contact a loan officer.
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, HELOC, Reverse, Refinance |
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Minimum credit score | Conventional: 620 FHA: 600 |
Minimum down payment (Conventional) | 3% |
State availability | Not available in: AK, ND, SD, UT, VT |
NMLS # | 1071 |
To get a home loan with Finance of America, you must meet the following requirements.
To apply for a mortgage from Finance of America, you’ll need:
Finance of America doesn’t list the fees for their services on their website, so you’ll need to contact the company to find out. However, a loan officer from Finance of America informed us that they charge the “standard closing costs,” including:
If you want to move ahead with a Finance of America loan preapproval, take the following steps.
1. Contact a loan officer. To apply for a Finance of America loan, make contact with a loan officer in your state.
There are two ways you can do this:
Also, start a mortgage application online without contacting a loan officer. However, you’ll still need to select a loan officer in your state. To start the online mortgage application process:
2. Get preapproval. Working with your loan officer, you’ll be asked to provide your personal information and financial and tax documents. If you’re preapproved, Finance of America will provide you with a preapproval letter that lets home sellers know you have financial backing when you make an offer.
3. Choose your loan program. After you’ve gotten preapproval, work with your loan officer to lock in your desired loan and interest rate. If you’re a first time home buyer looking for assistance with a deposit or closing costs, ask your officer for information about buyer assistance programs in your state.
Your loan
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Compare lendersPrincipal | $ |
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Interest | $ |
Total Cost | $ |
Finance of America also offers these specialized types of mortgages.
Compared with other mortgage lenders, Finance of America offers more loan types than average, including investor and home improvement loans. But the company has more stringent lending standards than other companies, and borrowers with a credit score of less than 600 may not qualify for a loan.
However, there are other lenders that will approve borrowers with credit scores as low as 580, so it’s worth shopping around if you fall into this category.
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.
As of August 2021, Finance of America has a 4.97 out of 5 rating on Zillow from over 5,600 customers and earns 4.7 out of 5 stars on Trustpilot from 130 reviewers. While Finance of America is not accredited with the Better Business Bureau (BBB), it has an A+ rating with 14 complaints registered in the last three years.
Customers report being satisfied with the service, the knowledge of the loan officers and the interest rates they received. Complaints with the service were around slow response times and loans being sold or transferred to other companies with no prior notice.
Founded in 1994, Finance of America is one of America’s top loan origination companies, ranking number 22 in the list of America’s top 150 lenders. Finance of America is a Blackstone portfolio company and is set to merge with Replay Acquisition, which will result in Finance of America becoming a publicly listed company. Finance of America reported a $16.6 billion volume in 2019.
How do I contact Finance of America support?
If you have questions or need assistance, you can try these contact methods:
Review by
Kat Aoki is a writer at Finder focusing on cryptocurrency, mortgages and personal finance products. Since 2011, she’s written hundreds of thoughtful and informative articles to help consumers make better decisions with their money. She’s well versed in working with leading brands in the finance and mortgage industry, including AMEX, Citibank and RealEstate.com.au. She earned a BS in Business Administration and Marketing from California State University and enjoys travel, hiking and yoga in her spare time.
If you’re looking for an established lender with strong financial backing, Finance of America could be worth considering. Due to its size and deep pockets, this lender can approve a high volume of loans compared to others, including individuals with credit scores as low as 600. However, the Finance of America website can be difficult to navigate, so your best bet is to contact a loan officer to get started. If you’d like to consider other options, compare more lenders.