Freedom Mortgage; Alyssa Powell/Insider
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Freedom Mortgage |
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| Editor’s rating | 3.5 / 5 |
| Minimum credit score | 620 |
| Minimum down payment | 3% |
| Types of mortgages | Conforming, jumbo, FHA, VA, USDA, refinance |
| Get a loan from Freedom Mortgage | |
*Minimum credit score and down payment are for conforming mortgages
Overall lender rating
| Feature | Insider rating (out of 5) |
| Loan types | 4 |
| Affordability | 4 |
| Customer satisfaction | 3 |
| Trustworthiness | 3 |
| Total | 3.5 |
Pros and cons
| Pros | Cons |
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Freedom Mortgage rates
Freedom Mortgage doesn’t show sample mortgage rates online. You’ll need to contact a loan officer to give your personal information and talk about what interest rate you’d receive.
In online Zillow reviews, most customers said their interest rate with Freedom Mortgage was “as expected” or “lower than expected,” so you could get a competitive rate with this lender.
How Freedom Mortgage compares
We’ve compared Freedom Mortgage to two other mortgage lenders that are available in all 50 US states: Rocket Mortgage and Fairway Independent Mortgage Corporation.
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Freedom Mortgage |
Quicken Loans |
Fairway |
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Types of home loans Conforming, jumbo, FHA, VA, USDA |
Types of home loans Conforming, jumbo, FHA, VA |
Types of home loans Conforming, jumbo, FHA, VA, USDA, reverse, renovation |
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Accepts alternative credit? No |
Accepts alternative credit? No |
Accepts alternative credit? Yes |
| Get started |
Freedom Mortgage vs. Rocket Mortgage
You’ll probably prefer Rocket Mortgage if you value an easy online experience. Rocket Mortgage has an intuitive online interface, you’ll apply online, and you can chat online with a live representative.
Rocket Mortgage doesn’t offer USDA mortgages, though.
Freedom Mortgage vs. Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is the clear choice if you need a reverse or renovation home loan, because Freedom Mortgage doesn’t have these types of loans.
You also might like Fairway if you have a low credit score, or none at all. Fairway lets you apply with alternative credit data, such as proof that you pay bills on time. Freedom Mortgage will always pull your credit score, though.
How Freedom Mortgage works
Freedom Mortgage offers home loans in all 50 US states, as well as Puerto Rico and the US Virgin Islands. It also has physical branches in the following states:
- Arizona
- California
- Connecticut
- Florida
- Georgia
- Maryland
- Massachusetts
- North Carolina
- New Hampshire
- New Jersey
- New York
- Pennsylvania
- Rhode Island
- Texas
- Virginia
- Washington
You can’t apply for a mortgage online. Visit a branch to apply, or fill out a form online and wait for a loan officer to contact you so you can apply over the phone.
Freedom Mortgage provides the following types of home loans:
You’ll need a 620 credit score for a conforming mortgage, 600 for USDA, and 580 for FHA and VA.
The lender doesn’t have reverse or construction home loans. You also can’t get a home equity loan or HELOC.
You can choose between a regular rate-and-term refinance or a cash-out refinance. You may also streamline refinance your FHA, VA, or USDA mortgage.
Some lenders allow you to apply with alternative data, like proof that you pay bills on time, if you have a low credit score or none at all. Freedom Mortgage requires a credit score, though.
To contact customer support, call Monday through Friday from 8:00 a.m. to 10:00 p.m. ET, or Saturday from 9:00 a.m. to 6:00 p.m. ET.
Is Freedom Mortgage trustworthy?
The Better Business Bureau gives Freedom Mortgage an NR (“No Rating”), because one customer complain that had previously been resolved has been re-opened. A good BBB grade typically indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
Freedom Mortgage does have a recent public controversy. The Consumer Financial Protection Bureau fined Freedom Mortgage $1.75 million in 2020, claiming that loan officers purposely entered incorrect sex, race, and ethnicity information on borrowers’ home loan applications. The order states that from 2014 to 2017, if a borrower didn’t fill in the race/ethnicity section of an application, officers marked it as non-Hispanic white.
Mortgage rates by state
If you talk with a Freedom Mortgage loan officer to get a customized rate, you can compare your rate to the average mortgage rate in your state:
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming
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