In this guide

  • Our verdict
  • Details
    • Features
  • Your reviews
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Finance of America mortgage review

  • Avatar
Finance of America
Minimum credit score
Conventional: 620
FHA: 600
Minimum down payment (Conventional)
State availability
Not available in: AK, ND, SD, UT, VT

Our verdict

This lender offers an abundance of mortgage products, but it’s not forthcoming about interest rates or fees on its website.

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.


  • Available in most states
  • Strong financial backing


  • Website does not list fees
  • Not clear how to start an online application
  • May not qualify if your credit score is under 600

In this guide

  • Our verdict
  • Details
    • Features
  • Your reviews

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
Minimum credit score Conventional: 620
FHA: 600
Minimum down payment (Conventional) 3%
State availability Not available in: AK, ND, SD, UT, VT
NMLS # 1071

Finance of America requirements

To get a home loan with Finance of America, you must meet the following requirements.

  • Live in any state except Alaska, North Dakota, South Dakota, Utah and Vermont.
  • Have a minimum credit score of 600.


To apply for a mortgage from Finance of America, you’ll need:

For employed persons:

  • Pay stubs from the last few months
  • At least two years of tax returns
  • Records of your bank account and investment balances
  • For loans over $4 million, you will need income tax returns from the previous year

For self-employed persons:

  • Two years of personal or business tax returns
  • Bank statements for the last three months
  • Profit and loss statements

Costs and fees

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:

  • Loan processing fee
  • Credit report fee
  • Home appraisal fee
  • Title insurance and state recording fees
  • Other costs and fees

How to apply for a mortgage with Finance of America

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:

  • Contact a loan officer directly. Locate a loan officer by choosing the Find a Loan Officer button on the home page, then selecting the Mortgage Advisors option.
  • Apply in person at a branch. Find local branches by choosing the Find a Loan Officer button on the homepage, then selecting the Branches option.

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:

  • Hit the Find a Loan Officer button on the homepage.
  • Select the Mortgage Advisors option.
  • Choose a loan officer to go to their website and hit Apply for a Loan.

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.

Monthly mortgage payment calculator

See how much you'll pay for your home
Your loan
Loan amount
Loan terms (in years)
Interest rate

Fill out the form and click on “Calculate” to see your estimated monthly payment.


Compare lenders
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

What types of mortgages can I get through Finance of America?

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
This company accepts mortgage refinance applications.

Other mortgage products offered by Finance of America

Finance of America also offers these specialized types of mortgages.

  • Home-equity line of credit (HELOC). Finance of America’s HELOC allows you to borrow from your home’s equity to consolidate debt and pay for expenses such as student loans, a new car, bills or anything you need extra cash for.
  • Fix and flip loans for investors. A fix-and-flip property loan starts at $50,000 and can be used to acquire and/or renovate investment properties.
  • FHA 203(k) rehab loan. This loan allows you to borrow money for both the purchase of a property and improvements.
  • Single rental loan. If you want to buy a first single-family rental property, this loan offers significant advantages, such as lower interest rates for greater cash investment.
  • Student loan refinance. This home refinance loan allows borrowers to pay off student loans and consolidate multiple payments into a single payment at a lower interest rate.
  • Hybrid reverse mortgage. Combines the features of a traditional and reverse mortgage. Lets you refinance your existing mortgage and reduce payments for 10 years. After 10 years, your monthly mortgage payments are eliminated.

How Finance of America‘s mortgage products compare to other lenders

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 mortgage lenders

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.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
Not rated yet
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Apply online for free and lock in your rate for 90 days.
Veterans United
Not rated yet
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
Veterans United stands out from other lenders for its focus on serving the military community.

Finance of America reviews and complaints

As of July 2022, Finance of America has a 4.97 out of 5 rating on Zillow from over 6,100 customers and earns 4 out of 5 stars on Trustpilot from 549 reviewers. While Finance of America is not accredited with the Better Business Bureau (BBB), it has an A+ rating with 21 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.

Finance of America: Pros and cons


  • Available in most states. Loans are available in every state except Alaska, North Dakota, South Dakota, Utah and Vermont.
  • Strong financial backing. Finance of America is supported by leading global asset manager Blackstone.


  • Website doesn’t list fees. Fees and costs are not available on the website. You must contact a loan officer to find out.
  • Not clear how to start an online application. To start an online application, you need to first select a loan officer. This information should be front and center on the website, but it isn’t.
  • May not qualify if your credit score is under 600. Finance of America recently changed their FHA lending guidelines. To qualify for an FHA loan, your score must be 600 or above.

What is Finance of America?

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.

Frequently asked question

How do I contact Finance of America support?
If you have questions or need assistance, you can try these contact methods:

  • Phone. 800-355-5626
  • Twitter. @FoAMortgage
  • Email.
  • Facebook. @financeofamerica

Your reviews

No reviews yet. Write a review
Go to site