Keller Mortgage review
Pay no lender fees and get a $1,000 credit, but only when you use Keller Williams Realty.
finder.com’s rating: 3.7 / 5.0
Keller Mortgage offers specialty mortgage loan programs and a credit on closing costs for eligible borrowers. But its rates and terms are unclear, and it doesn’t lend to residents of New York State.
|Loan products offered||Conventional, VA, USDA, FHA, Jumbo, Refinance|
|Minimum credit score||Conventional: 640|
|Minimum down payment (Conventional)||3%|
|State availability||Not available in: NY|
Keller Mortgage requirements
To qualify for a mortgage with Keller Mortgage, you must have a minimum credit score of 640. Down payments start at 0% for USDA and VA loans, 3% for conventional loans, 3.5% for FHA loans and 20% for jumbo loans. The minimum loan Keller finances is $65,000.
Before you begin the preapproval process, gather the following information:
- Full name and personal contact information
- Social Security number
- Pay stubs from the past 30 days
- W2s and 1099s from the past two years
- Personal tax returns from the past two years
- Profit and loss statements, if self-employed
- List of your assets — including savings, real estate, car titles, retirement accounts and other investment records
Costs and fees
Keller Mortgage doesn’t disclose any fee information on its website. Instead, it claims to provide personalized rate and fee estimates at the time of application based on the property and financial profile of its borrowers.
Lenders typically charge loan fees that range between 2% to 5% of the total loan cost. During the loan closing process, your fees may include the following:
- Home inspection
- Document preparation
- Credit report
- Title charges
- State taxes
- Private mortgage insurance
How to apply for a mortgage with Keller Mortgage
Keller’s application starts with a comprehensive preapproval process. You can apply for a preapproval using the following steps:
- On the Keller Mortgage website, select Apply Now in 7 minutes and choose whether or not you’re working with a Keller Williams agent. Click Continue.
- Walk through prompts about the loan you’re looking for and select Continue.
- Enter your name and contact information. Select Continue.
- Enter a password and confirm to set up an account.
- Step through questions to enter information about your assets and income, then answer questions about the property you’re interested in purchasing, if available.
- Answer declaration questions and enter your demographic information.
- Review your submitted information and click Submit, which authorizes Keller Mortgage to obtain a copy of your credit report.
Once you submit your application, a loan officer contacts you to discuss your application.
What types of mortgages can I get through Keller Mortgage?
Other mortgage products offered by Keller Mortgage
The only additional mortgage products Keller offers are refinancing options, which include cash-out refinancing to tap into your home’s equity.
How Keller Mortgage’s products compare to other lenders
Keller offers a pretty standard array of home mortgage products, but none of the home equity loans or lines of credit you’d expect from a traditional bank. Where Keller stands out is in its ZeroPlus Program, which offers home loan discounts that waive the origination fee, offer $1,000 toward third-party fees and include a $1,000 closing credit on home loans over $150,000.
To qualify for the ZeroPlus Program, applicants must use a Keller Williams agent.
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Keller Mortgage reviews and complaints
Keller Mortgage is not accredited with the Better Business Bureau (BBB) but has an A+ rating as of December 2020. The lender has just shy of two stars with 15 customer reviews and has closed its only customer complaint. Keller Mortgage also has a Google rating of 2.2 out of 5 stars based on 24 customer reviews.
Some customers spoke highly of the quick and attentive responsiveness their Keller Mortgage loan agents demonstrated. Others complain of website malfunctions and confusing underwriting procedures.
Pros and cons of Keller Mortgage
- Online preapproval. Complete the mortgage preapproval process online from the comfort of your home.
- Discounted closing costs. The ZeroPlus Program offers eligible borrowers up to $1,000 in closing cost credits and waived lender fees on mortgages over $150,000, if they use Keller Williams Realty or buy a Keller Williams property.
- Low down payment options. Keller Mortgage offers both no and low down payment options, including 0% for USDA and VA loans, 3% for conventional loans and 3.5% for FHA loans.
- Not available in New York. Keller Mortgage lends in all states except New York.
- Potential for pushy tactics. Throughout the application process, some customers report feeling pressured to use Keller Williams realty when buying a home.
- Lack of transparency. Keller Mortgage offers no information on its loan terms, rates or fees on its website.
What is Keller Mortgage?
Keller Mortgage is headquartered in Dublin, Ohio and is a direct business affiliate of Keller Williams Realty — one of the largest real estate franchises in the US with over 1,000 offices and 180,000 associates.
Historical mortgage data for Keller Mortgage
All numbers based on 2019 nationwide data from the Home Mortgage Disclosure Act.
|Loan type||Applications denied||Loans originated||$ Amount (originated loans)|
Frequently asked questions
Home loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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Shannon Terrell is a senior writer for Finder who has written over 400 personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions. She studied communications and English literature at the University of Toronto.
An affiliate of Keller Williams Realty, Keller Mortgage is good for lenders looking for low down payment, with options like FHA, VA and USDA loans. But online feedback from customers is less than favorable and you’ll need to complete the entire preapproval process for access to potential rates and fees.