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Movement Mortgage can be a good option for borrowers with poor credit because of its alternative loan program. But its website doesn’t disclose its fees or interest rates. And you may want to watch out for its dodgy customer service.
Loan products offered | Conventional, FHA, VA, USDA, Jumbo, Refinance, Reverse |
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Minimum credit score | FHA: 580 VA: 580 USDA: 640 |
State availability | Not available in: MT |
Although Movement Mortgage doesn’t publish its fees on its website, expect your closing costs to run between 2% and 5% of the purchase price. Your closing costs may include the following fees:
Here are some general guidelines covering maximum loan-to-value ratios, maximum debt-to-income ratios and minimum credit score requirements for different loan programs.
Loan to value ratio | Debt to income ratio | Credit score | |
---|---|---|---|
Conventional | 97% | 43% | 620 |
FHA | 96.3% | 43% | 580 |
VA | 100% | 41% | 580 |
USDA | 100% | 41% | 640 |
Expanded Access | 85% | 43% | 620 |
You’ll need to submit the following documents along with your loan application.
Fill out a home loan application on Movement Mortgage’s website or its app. The site prompts you to fill out a form and then redirects you to another page to fill in additional details.
Movement Mortgage has been accredited with the Better Business Bureau (BBB) since 2015. It has an A+ rating on the BBB because it responds to customer reviews and complaints.
While some customers praise Movement Mortgage for its processing speed, many complain about poor customer service. Borrowers report that their loan officers don’t answer phone calls and emails and its employees don’t communicate. Users had to resubmit paperwork and were passed around to multiple people throughout the loan process. Several reviewers complain that loan officers quit or left the company, and got the run around to complete the loan process.
Movement Mortgage was founded in 2007. What began as a small team of four is now a company with over 4,000 employees across 47 states.
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. It now submits its loan originations for independent auditing.
Review by
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 could be good for borrowers with poor credit, with its government-backed loans and a loan program specifically for borrowers with poor credit history. Although many of its loans are processed quickly, reviews show its customer service can be frustrating. Potential borrowers may want to be wary because of its lack of communication and follow through with its loan application.