Movement Mortgage review
Offers a wide range of home loan programs and strives for seven-day processing, but only 75% of loans close within that time.
- Choose this lender for a range of home loan programs
- Choose another lender if you want a home equity loan or HELOC
- A good option for low- to mid-income borrowers
|Loan products offered||Conventional, Jumbo, FHA, VA, USDA, Refinance, Reverse|
|Minimum credit score||Conventional: 620|
|Minimum down payment (Conventional)||3%|
|State availability||Available in all states|
Movement Mortgage requirements
To find out if you’re eligible for a Movement Mortgage home loan, visit the company’s website. Basic eligibility for a mortgage loan includes:
- Two years’ history of employment
- A FICO credit score of 620 or higher
- No history of bankruptcy in the past two years
Here’s a list of the documents you’ll need to apply for a home loan from Movement Mortgage.
For employed persons:
- Copy of your driver’s license
- Last two years’ tax returns
- Last two years’ W-2s
- Most recent 30 days’ pay stubs
- Most recent bank statements
- Explanations of deposits over $1,000 (other than regular pay)
- Explanations of any inquiries on your credit report
- Mortgage statement, insurance declaration page and your most recent tax statement for any properties owned
- Divorce decree and separation agreement, if applicable
- Copy of earnest money check and purchase contract
Self-employed persons also need to provide:
- 1099s and a copy of your business license
Costs and fees
Although Movement Mortgage doesn’t publish its costs and fees on its website, expect your closing costs to run between 2% and 5% of the home’s purchase price. Closing costs may include the following fees:
- Application fee
- Appraisal fee
- Origination fee
- Credit report fee
- Closing fee
- Flood certification fee
- Title insurance
How to apply for a mortgage with Movement Mortgage
To get started:
- Go to Movement Mortgage’s website and select Apply from the top menu.
- Watch the optional intro video, then select Continue to Application.
- Choose your preferred loan type and enter your name, contact information, personal information and address.
- Create a password, then select Continue.
- Enter your coborrower information, if any, the property information, your Social Security number and date of birth. This information will be used to conduct a hard credit pull.
- Disclose your asset information. Either link to your bank accounts by providing your login information or estimate your assets instead.
- Provide information about your income and any real estate you may own.
- Answer the disclosure, declaration, demographic and additional questions. Review the application and submit.
- Call the company about the next steps.
What types of mortgages can I get through Movement Mortgage?
Other mortgage products Movement Mortgage offers
Movement Mortgage also has these specialized types of mortgages available:
- Condo loans. Choose from Movement Mortgage’s condo loan programs, including jumbo loans up to $30 million.
- Fannie Mae HomeReady. A flexible, 3% down payment program that allows gifts, grants and Community Seconds for down payments and closing costs.
- Renovation loans. Choose from FHA 203(k) Standard & Limited, the HomeStyle Renovation Mortgage or the HomeStyle for Investors.
- New construction loans. For borrowers looking to build their home from new, with rate locks up to 360 days.
- High balance. A nonconforming loan for homes in high-cost areas exceeding $548,250 to $822,375 for a one-unit property in 2021.
- Mortgage refinancing. By replacing your current mortgage with a new one with better terms, mortgage refinancing can reduce your interest rate, lower your monthly mortgage payment and eliminate private mortgage insurance.
Alternatives to Movement Mortgage
Movement Mortgage offers a wide selection of mortgage options, and if you’re looking for a faster close, the company aims to provide same-day underwriting decisions, seven-day processing times and one-day closing.
While Movement’s stated processing times are much faster than the industry average, these timelines aren’t guaranteed and loans are sold after closing. If you’d rather go with a lender that’s less likely to sell your loan, Quicken Loans, Rocket Mortgage, Axos Bank or Mr. Cooper may be a better choice.
Also, Movement Mortgage isn’t transparent about what it charges for origination fees on its website. Digital lenders Better and Beeline are known for competitive rates and don’t charge any lender processing fees. And when we called Movement Mortgage, we weren’t able to immediately reach a loan officer over the phone.
As always, compare multiple lenders or use a lender marketplace to find the best home loan for your needs. By shopping around and comparing quotes, you could save thousands on interest and fees.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Movement Mortgage reviews and complaints
As of July 2022, Movement Mortgage has a 4.98 out of 5 rating on Zillow from over 17,800 customers raving about their loan officers’ efficient service. Movement Mortgage is accredited by the Better Business Bureau (BBB) and has an A+ business rating, a 4.09 out of 5 rating from 139 customers and 85 complaints closed over the past three years.
While the vast majority of reviews on Zillow are overwhelmingly positive — customers frequently mention fast, personalized service along with low refinance rates — negative reviews on the BBB website and WalletHub mention poor service, paperwork falling through the cracks and misdirected payments after loans were sold to other companies.
In 2017, Movement Mortgage entered into a Consent Order with California’s Commissioner of Business Oversight. The Consent Order settled allegations that Movement Mortgage overcharged per diem interest to borrowers.
Pros and cons of Movement Mortgage
- Wide range of loans. Movement Mortgage offers a wide range of home loans for buyers and refinancers in a variety of situations.
- Digital application process. The company offers a fully digital website application powered by Blend and a mobile app that allows you to apply for a new home loan, link to your bank accounts and complete your application in about 30 minutes.
- Home Loan Portal. Movement Mortgage’s home loan portal allows you to check your loan details 24/7 and make a payment through your computer.
- 7-day processing goal. After receiving all documents, the company strives to process home loan applications in seven days or less and close in one day. However, these timelines are not guaranteed.
- Rate quotes not available online. To get a free rate quote, you need to call the company or fill out a contact form on the site and wait for a call back.
- No online prequalification. Unlike other lenders, the company doesn’t offer a simple online prequalification process. Instead, you must call the company or fill out a lengthy loan application involving a hard credit check.
- Loans are sold after closing. Movement Mortgage may sell your loan. While this is a common practice in the industry, some borrowers may find switching companies inconvenient.
What is Movement Mortgage?
Founded in 2007 and headquartered in Fort Mill, SC, Movement Mortgage is one of the fastest-growing mortgage companies in the US. Over the past decade, Movement has grown from a team of four people to over 4,000 employees with more than 650 locations across 50 states.
About 70% of its employees contribute to the Love Works fund that focuses on the health and wellness of all Movement team members. The company has also reinvested over $25.8 million in local underserved communities through its Movement Foundation.
Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.
Movement Mortgage may be a good option for borrowers looking for a wide range of home loan programs, supported by a fully online application powered by Blend software. The company claims it can provide an underwriting decision within six hours of receiving an application and strives to provide seven-day processing times and one-day closings.
Although 75% of its loans are processed within these timelines, 25% take longer, and some reviews suggest that the company’s customer service can be frustrating. However, the ratio of complaints is relatively small compared to the positive reviews. If you’re interested in pursuing a home loan with Movement Mortgage, we suggest calling and speaking with a loan officer to get prequalified and discuss your options.