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Keller Mortgage review
Pay no lender fees and get a $1,000 credit, but only when you use Keller Williams Realty.
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.
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Conventional: 640
Minimum credit score
3%
Minimum down payment (Conventional)
Not available in: NY
State availability
Details
| 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 |
| NMLS # | 140234 |
Review by
Shannon Terrell
shannon.terrell@finder.comShannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga.
Expert review
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.
Keller Mortgage is not currently available on Finder
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Speedy prequalification, minimal fees and a wide range of loans and terms with this HELOC lender.
- Quick close times
- Completely online application
- Chat support six days a week
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.
Documentation
Before you begin the preapproval process, gather the following information:
- Full name and personal contact
- 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:
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:
- Appraisal
- Home inspection
- Document preparation
- Credit report
- Title charges
- State taxes
- Private mortgage insurance
- Taxes
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. Hit Continue.
- Walk through prompts about the loan you’re looking for and select Continue.
- Enter your name and contact information. Choose 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 hit 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?
- Conventional
- FHA
- VA
- USDA
- Jumbo
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.
Alternatives to Keller Mortgage
Keller is a digital-only lender that offers a standard array of home mortgage products, minus home equity loans. Where Keller stands out is in its speedy underwriting processes and ZeroPlus Program, offering zero lender fees and home loan discounts up to $1,000 at closing for loans over $150K.
But Keller isn’t the only fintech lender offering fast service and discounted fees. Better and Beeline are also highly rated 100% digital lenders with streamlined online applications, fast preapproval decisions and no origination fees on loans.
However, if you’d rather meet with a loan officer face to face, consider a more traditional lender like Guaranteed Rate, Freedom Mortgage or Mutual of Omaha. Find your perfect mortgage by comparing these lenders and lender marketplaces. Select See rates to get a personalized quote.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
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Keller Mortgage reviews and complaints
Keller Mortgage is not accredited by the Better Business Bureau (BBB) and has a C rating as of August 2022. The lender is rated 1.47 out of 5 stars with 19 customer reviews and has closed two customer complaints in the last three years.
Reviews are drastically different on Zillow. Customers on Zillow have rated Keller Mortgage 5 out of 5 stars based on a total of 41 reviews.
In general, some customers spoke highly of the quick and attentive responsiveness of their Keller Mortgage loan agents. Others report website malfunctions and confusing underwriting procedures.
Reviews are drastically different on Zillow. Customers on Zillow have rated Keller Mortgage 5 out of 5 stars based on a total of 41 reviews.
In general, some customers spoke highly of the quick and attentive responsiveness of their Keller Mortgage loan agents. Others report website malfunctions and confusing underwriting procedures.
Keller Mortgage pros and cons
Pros
- 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.
Cons
- 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) |
|---|---|---|---|
| Conventional | 278 | 8,915 | $2,326,045,000 |
| FHA | 89 | 1,618 | $368,680,000 |
| VA | 48 | 940 | $263,220,000 |
| USDA | 8 | 81 | $14,575,000 |
Frequently asked questions
How can I get a loan without using a Keller Williams agent?
Yes, you can apply for a Keller Mortgage loan without a Keller Williams agent, but you will not be eligible for the ZeroPlus program.
How will applying for preapproval on the Keller Mortgage website hurt my credit score?
Keller Mortgage performs a hard credit check when processing your preapproval application, which could potentially drop your credit score by several points.
Home loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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