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finder.com’s rating: 3.9 / 5.0
★★★★★
If you live in Washington DC or one of the 46 states J.G. Wentworth is licensed in, you’ll find a number of home loan products for conventional, jumbo and government-backed loans.
Loan products offered | Conventional, Jumbo, FHA, VA, USDA |
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State availability | Not available in: HI, ID, NV, NY |
Several standard and government-backed mortgage options are available through J.G. Wentworth. Outside of mortgages, it also offers a special refinancing option and a home improvement loan.
J.G. Wentworth offers 15-, 20- and 30-year fixed-rate mortgages, and adjustable-rate mortgages with intro periods of three, five and seven years.
Mortgages that go over the standard loan maximums are considered jumbo loans. J.G. Wentworth recommends a down payment of at least 20% to qualify.
Military service members, retired veterans and their spouses could qualify for this type of government-backed loan. VA loans sport a number of features, including no down payment, no PMI requirements, limited closing costs, no early repayment fees and interest rates that are lower than conventional mortgages.
Another government-backed loan option is an FHA loan that makes it easier for those with fair credit to qualify for a loan. One of the most notable features of an FHA loan is its minimum down payment — depending on your eligibility, you may be able to put as little as 3.5% down.
A USDA guarantee provides benefits for borrowers who live or want to buy a house in a rural area and have low or moderate income compared to the local median. No down payment, low insurance premiums, lower than conventional rates and 100% financing are all available with a USDA loan.
One appeal of J.G. Wentworth is its declaration of complete transparency when it comes to mortgage fees. Its commitment to no hidden fees is reflected by the fact that it doesn’t offer a typical fee associated with mortgage closing costs — points.
Home loan fees you may still run into include:
While J.G. Wentworth doesn’t provide exact eligibility requirements, it does have a mortgage qualifier calculator which shows what loan amount you may qualify for. You can also get prequalified with J.G. Wentworth by working with a loan officer who will evaluate your creditworthiness and income, among other factors.
J.G. Wentworth doesn’t provide a list of documents you might need, but most lenders require the following info to apply:
J.G. Wentworth offers the opportunity to apply online or over the phone. To start the process:
The Better Business Bureau (BBB) gives J.G. Wentworth an A+ rating, and it’s been accredited since 1996. In more than two decades of business, it only has nine customer reviews on BBB that average just over 2 out of 5 stars. Several of the complaints site unsatisfactory customer service.
Zillow reviews paint a much kinder picture — averaging 4.9 out of 5 stars with over 1,900 reviews as of December 2020.
Founded in 1991 as a bank, J.G. Wentworth Company offers structured settlement, presettlement and annuity services outside of its home mortgage products. In August 2019, J.G. Wentworth Home Lending was purchased by Freedom Mortgage. Details on how it will affect the process of getting a home loan with J.G. Wentworth aren’t yet available as of September 2019.
★★★★★ — 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.
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Review by
Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.
J.G. Wentworth offers home loan products to meet a variety of needs. It’s a well-reviewed company — outside of its BBB profile — and claims fee transparency.
While its products are robust, you may still want to look into other lenders before settling. Compare your home loan options and determine the best provider for your financial situation.