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Freedom Mortgage review

Last updated:’s rating: 3.6 / 5.0


You can get preapproved online quickly — but customer reviews are mixed.

Freedom Mortgage offers a variety of fixed- and adjustable-rate mortgages. But while it’s easy to get someone on the phone, some customers complain that customer service is less than stellar.


Loan products offeredConventional, Jumbo, FHA, VA, USDA, Refinance
Minimum credit scoreConventional: 620
FHA: 540
VA: 580
USDA: 640
Minimum down payment3%
State availabilityAvailable in all states

What types of loans does Freedom Mortgage offer?

This lender offers a variety of mortgage types, including:


If you have a good credit rating and the cash for a down payment, this loan may be your best fit. A higher down payment rewards you with lower interest rates and lower monthly payment, but you’ll have to pay for private mortgage insurance if your down payment is less than 20%.


A jumbo loan is any loan that’s too big to be bought out by Fannie Mae or Freddie Mac. In most counties, that means any loan over $510,400 as of 2020. You’ll need at least 20% down and a credit score of 700 or higher to qualify.


Insured by the Federal Housing Administration (FHA), these loans are for those with poor credit and low-income buyers Available with a fixed or adjustable rate and a down payment as low as 3.5%, the FHA loan is also suitable for new homes or borrowers looking to refinance.


This type of mortgage is guaranteed by the US Department of Veterans Affairs. If you or your spouse are active or retired members of the military, you won’t be required to make a down payment or pay private mortgage insurance (PMI), and you won’t be penalized for paying off the loan early.


If the property you’d like to purchase resides in a qualifying rural area, you may be eligible for this type of home loan, which offers low interest rates and no required down payment. You can use the USDA website to check if your home qualifies.


Freedom Mortgage offers both traditional and cash-out refinancing.

Freedom Mortgage’s fees

Freedom Mortgage doesn’t have much information on its fees publicly available. Fees may include:

  • Origination fee
  • Application fee
  • Underwriting fee
  • Rate lock fee
  • Ongoing fees
  • Third party fees

Freedom Mortgage’s Purchase Promise

Freedom Mortgage offers a Purchase Promise guarantee. If it’s unable to match a competitor’s interest rate, you’ll receive a $250 gift card.

But in order to qualify, you’ll need to give Freedom Mortgage a rate lock guarantee from the other lender dated for the same day. And if they can’t match it, you’ll also need to supply a copy of the closing disclosure after you sign with the other lender in order to get the gift card.


To qualify for a conventional loan with Freedom Mortgage, you’ll need a minimum credit score of 620. For an FHA loan, you’ll need a credit score of at least 500. The required down payment depends on what type of loan you can get, and ranges from $0 for a VA loan to 20% for a jumbo loan.

Keep in mind that special eligibility requirements apply to different types of loans, including a minimum down payment limit and ties to the military if you apply for a VA Loan.


Once you complete your application, you’ll need to provide personal information, including:

  • Your name, date of birth, residential address and Social Security number.
  • Employment information for the past two years.
  • Your most recent pay stubs.
  • W-2 or 1099 forms for the past two years.
  • Federal tax returns for the last two years.
  • Self-employed borrowers will need to provide two years of personal and business tax returns as well as a year-to-date profit and loss statement with balance sheet.
  • Details of your assets and debts.

Case study: Adrienne's experience

Adrienne Fuller profile photo
Adrienne Fuller

I applied for a mortgage in May 2015 with a broker, and within a week it was sold to Freedom Mortgage. I put 5% down and took out an FHA loan, so perhaps my loan was considered high risk enough to sell. I can’t comment on the application process through Freedom, but I can comment on my experience since then.

I like that Freedom is a straightforward mortgage company, and I can get a human on the phone if I need one. However, I prefer to not speak with reps if I don’t have to, and the Freedom website is pretty old. It took me a while to figure out how to navigate it, and setting up automatic payments took a few tries. The Statements area does make it easy to find the escrow and tax forms I need.

I don’t like how many cash-out offers I get from Freedom — at least once a week, I get a letter asking me to take out a loan against my equity. Even after opting out, I get them relentlessly.
Overall, I’m satisfied with Freedom mortgage. But I don’t have another mortgage experience to compare it to. In the future, I’ll probably prioritize interest rates over any other feature of a mortgage.

How to get a home loan with Freedom Mortgage

If you think Freedom Mortgage has the loan for you, visit its website and click Apply Now or call a customer service representative. Whether you’re purchasing a property or refinancing a loan, be ready to provide:

  • Your name
  • The state where you want to buy property
  • Your email and your phone number

Freedom Mortgage reviews and complaints

Freedom Mortgage has been accredited with the Better Business Bureau (BBB) since 2011, and as of December 2020 it gets an B+ rating.

Customers on the BBB give this lender 3.72 out of 5 stars, and it’s recommended by 86% of customers on LendingTree.

Most happy customers report an easy application process and a great relationship with their loan officer.

Most negative reviews center around unexpected or erroneous fees and charges, frustrating communication and late closing.

Pros and cons of Freedom Mortgage


  • Fast application process. You can get preapproved online quickly and easily.
  • Easy to contact. While there was one automated menu to get through, I was able to get a person on the phone in about a minute.


  • Branch access. Freedom Mortgage has retail locations in more than 15 states. If you prefer to manage your home loan face to face, check to be sure there’s a location near you.
  • Negative reviews. Although the BBB gives it an A rating, the customer comments tell a different story. Over 80% of the comments are negative, citing complaints of customer service, and overcharging, among other things.

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Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

Ready to compare lenders?
View mortgage, refinance and home equity rates from multiple lenders and apply online.

Need help? Talk to a customer specialist


What is Freedom Mortgage?

Established in 1990, Freedom Mortgage Corporation is a full-service lender that helps borrowers across the US buy new homes and refinance their existing loans. Based in Mount Laurel, NJ, it provides a streamlined borrowing process backed by professional customer service.

Specializing in residential home loans, Freedom Mortgage offers mortgages for first-time buyers, those upgrading to their next home and customers who are looking to refinance an existing mortgage.

Frequently asked questions

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.


Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

Freedom Mortgage offers a quick preapproval process and multiple loans for all kind of borrowers, and users like that it’s easy to get through to customer support. But customers complain about an outdated website and an excessive amount of junk mail.

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    Default Gravatar
    March 2, 2018

    How long does the process of buying a home take if you have the home picked out?

      Default Gravatar
      March 2, 2018

      Hi Brittney, thanks for reaching out to the finder team!

      The average amount of time is takes from picking out your home to move-in day is typically 30-50 days. If you have the home you want picked out, the next step is to make an offer. Your offer is most likely to get accepted if you already have pre-approval for a mortgage, so the seller knows that you are able to pay for the home. You can get pre-approval for a home loan by comparing your options with our guide to mortgages.

      If your offer is accepted, the next step is to secure your financing by moving forward with the home loan you’ve been pre-approved for. You may need to get an inspection on the home, and your lender and title company will help you with the escrow and closing process. Once your financing is in place and your various inspections are complete, you can arrange a closing date with your realtor. That’s when the deal truly becomes final!

      We hope this information has been helpful and that you have everything you need.


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