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HomeStreet Bank mortgage review

Numerous loan options, but only for those purchasing a home in a select few states.

HomeStreet Bank originates loans in California, Hawaii, Oregon and Washington and offers numerous loan options to choose from. In addition, the lender offers a handful of home loan resources to help homebuyers get better acquainted with the process. But the lender hasn’t proven favorable with customers, and it recently settled with the FDIC for violating the Real Estate Settlement Procedures Act (RESPA), a 1974 law centered around mandated disclosures and the prohibition of kickbacks.

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Loan products offeredConventional, Jumbo, FHA, VA, USDA, HELOC, Refinance
Minimum credit scoreConventional: 620
Minimum down payment (Conventional)3%
State availabilityOnly available in: CA, HI, OR, WA
NMLS #417396

HomeStreet Bank requirements

To be eligible for a mortgage through HomeStreet Bank, you must be:

  • At least 18 years old
  • A US citizen, permanent resident alien or nonpermanent resident alien
  • Purchasing a home in California, Hawaii, Oregon or Washington
  • Have a credit score of 620 for most loans or 580 for an FHA loan

Required documents might vary slightly as you move along the application process, but in general you need to supply:

  • W-2 forms and/or 1099 forms from the previous two years
  • Most recent pay stubs
  • Personal and/or business tax returns from the previous two years
  • Social Security award letter or pension award letter, if applicable
  • A list of your assets, including bank statements and investment statements
  • Proof of identification, such as photo ID or Social Security card

Costs and fees

HomeStreet Bank charges a set administration fee of $1,195 as of May 2021. To compare, many lenders charge a mortgage origination fee typically costing between 0.5% to 1% of the loan amount.

In addition to this fee, you are responsible for any third-party fees associated with buying a new house, like title fees, closing fees, etc.

How to apply for a mortgage with HomeStreet Bank

To apply for a HomeStreet Bank mortgage, follow these steps.

  1. Visit HomeStreet Bank’s website and choose Personal, then Mortgage, then Apply Online.
  2. Select Apply Online With Generic Application. If you’d prefer to meet face-to-face with a loan officer before applying, select Find A Local Lending Expert to search for a loan officer in your area.
  3. Create an account and log in using your new username and password, then locate the draft of your application and hit Start.
  4. Read over the welcome page and select Next.
  5. Enter information about the purpose of your loan, property details and coborrower information, if any. Hit Next when prompted.
  6. Provide additional personal information, including your name, date of birth, Social Security number, address, current monthly housing expenses, assets, employment information and gross monthly income.
  7. Fill out the disclosure forms, declarations and demographic information.
  8. Review your application and select Submit.

Once you start your application, you won’t be able to save your work if you aren’t ready to submit. Have all your information at hand before you get started.

What types of mortgages can I get through HomeStreet Bank?

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

Other mortgage products offered by HomeStreet Bank

  • Renovation & Construction Loan. Whether you’re looking to expand, remodel or make a major renovation to your home, you can use a renovation loan or construction loan to complete the project.
  • Condo Loan. This loan helps you navigate and secure the purchase of a condominium, which can have additional underwriting requirements compared to a standard home loan, such as the overall financial stability of the complex and the percentage of units that are rented and owned.

How HomeStreet Bank’s mortgage products compare to other lenders

HomeStreet Bank offers a large selection of home loan types. While this is pretty typical for traditional lenders, you won’t find many newly emerging digital lenders with this expansive of an offering.

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HomeStreet Bank reviews and complaints

As of August 2021, HomeStreet Bank has an A rating with the Better Business Bureau (BBB). Reviewers on the site have rated HomeStreet Bank 1.14 out of 5 stars with a total of seven customer reviews.

With the highest rating being 2 out of 5 stars, dissatisfied customers complained mostly about company-wide disorganization, poor customer service and their mortgages being sold or transferred to other institutions — which is a common practice in the industry.

Pros and cons of HomeStreet Bank


  • Flexible application process. Apply online or, if you live in a city with a local loan officer, you’ll have help available in person.
  • Numerous mortgage options. HomeStreet offers a wide selection of loan types, including conventional, VA and renovation and construction loans.
  • Helpful home loan resources. The HomeStreet Bank website is packed full of educational materials to help answer typical homebuying questions.


  • Limited availability. HomeStreet Bank mortgages are only available in select cities across a limited number of states.
  • Negative reviews. It’s hard to satisfy everyone, but every review HomeStreet Bank has is negative, at least with the BBB. While this doesn’t necessarily mean you won’t have a great experience, it’s worth keeping in mind.
  • Recent lawsuit. HomeStreet Bank was recently fined for violating RESPA. It has since terminated all its agreements that led to this lawsuit, but this might still put off some homebuyers.

What is HomeStreet Bank?

HomeStreet Bank is an FDIC-insured community bank headquartered in Seattle, Washington. It offers various financial services such as consumer and business banking, mortgage lending, insurance and loans, primarily in four states. Founded in 1921 and known as Continental Savings Bank until 2000, HomeStreet Bank now has 62 branches, assets of $6.8 billion and has been named one of Fortune 100’s Fastest Growing Companies for several years.

In 2019, HomeStreet Bank settled with the FDIC in the amount of $1,350,000 for violating RESPA. The bank was found to have entered into specific agreements with real estate brokers that resulted in real estate brokers and home builders receiving kickbacks for making mortgage loan business referrals. Because these payments exceeded the fair market value of marketing and rental costs and the excess was used for referrals of mortgage business, the agreements were in violation of RESPA.


Review by

Matt Miczulski is an investments writer at Finder. After paying off $30,000 in debt in a little more than a year, he applied what he learned as a writer at FinanceBuzz, where he specialized in finance news, banking, debt and travel. He has been featured on MSN, Best Company, Money Done Right and Recruiter.

Expert review

HomeStreet Bank offers several mortgage options that should satisfy most homebuyers, whether you’re looking for a first-time conventional mortgage, a VA loan or HELOC, and the origination fee is a steady $1,195 as of May 2021. But if you live outside the eligible states, you’re going to have to look elsewhere.

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