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Freedom Mortgage Review 2025
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At a glance
NMLS: 2767
State License: 2767
Editor's take
Freedom Mortgage is a major nationwide mortgage lender specializing in FHA and VA loans, though it offers other types, as well. While Freedom provides perks like discounts on home security packages and Lowe’s purchases, those might not be enough to overcome a reputation for complaints and regulatory infractions.
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
3.9
Rating: 3.9 stars out of 5
Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing and more
Min. credit score required
620 for conventional loans, 550 for FHA loans, 580 for VA loans
Nationwide availability
All U.S. states
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans
Freedom Mortgage overview
Freedom Mortgage is a long-time, national mortgage lender and one of the top providers of loans backed by the U.S. Department of Veterans Affairs (VA) and the Federal Housing Administration (FHA). It was founded in 1990. Some borrowers take advantage of the lender’s "Purchase Promise," which includes rate-match and closing guarantees, as well as access to new home purchase savings programs through affiliate partnerships.
Pros and cons of Freedom Mortgage
Pros
-
First-time homebuyer programs available
-
Borrower rewards including discounts on home-related products and services
Cons
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Limited information about loan costs online
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No home equity loans
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Poor marks for customer service
How Bankrate scored Freedom Mortgage
Affordability: 3.4/5
Freedom Mortgage scores 3.4 out of 5 stars for affordability. The lender doesn’t showcase current mortgage rates on its website, so unless you provide your contact info or reach out to a loan officer, it’s tough to figure out costs upfront.
- Interest rates: There’s no way to view current mortgage rates through Freedom Mortgage’s website. However, the lender offers the option to sign up for rate alerts, and if you do request a quote, you can lock your rate up to 60 days.
- Down payment: Freedom specializes in FHA and VA loans. FHA loans come with a minimum down payment requirement of 3.5 percent. VA loans don’t have a down payment requirement.
- Closing costs: Freedom Mortgage charges closing costs, which vary by loan type, loan amount, location and more.
Availability: 5/5
Freedom Mortgage scores the highest rating, 5, for availability, thanks to a national footprint (including U.S. territories) and a variety of loan products.
- Home loans offered: Freedom Mortgage provides conventional and government-backed loans, along with options to refinance your existing mortgage.
- Footprint: Freedom operates across the country and in most U.S. territories.
- Where to find: You can apply for a mortgage with Freedom Mortgage by phone.
Borrower experience: 3.2/5
Freedom Mortgage scores 3.2 out of 5 stars for borrower experience. While the lender routinely receives praise for an efficient application process, it has also garnered many consumer complaints over the years.
- Preapproval and application process: Generally, Freedom Mortgage provides loan decisions within 24 hours.
- Transparency: While Freedom offers a mortgage calculator and basic information about homebuying on its website, it doesn’t list current rates or fees.
- Customer service: You can reach Freedom’s customer service team at 855-690-5900 Monday through Friday from 8 a.m. to 8 p.m. ET or Saturday, 9 a.m. to 2 p.m. ET.
Images courtesy of Freedom Mortgage as of 3/25/2024. Note: Depending on method of contact, your individual credit profile and other circumstances, your experience might differ.
Freedom Mortgage reputation
Freedom Mortgage was ranked near the bottom of J.D. Power’s mortgage customer satisfaction study in 2023, its Better Business Bureau accreditation had been revoked and it had an “average” rating on Trustpilot at the time of this review. It has also run into its share of regulatory issues, most recently in 2024.
What consumers say about Freedom Mortgage
Freedom Mortgage has hundreds of complaints on third-party websites like the Better Business Bureau and Trustpilot, with middle-of-the-road ratings. Of borrowers Bankrate surveyed, many report that the application process was “easy” and “fast,” while others note that the lender unnecessarily follows up for more information that was already provided by the borrower.
Freedom Mortgage in the news
Freedom Mortgage was fined in 2024 for inaccurate loan data reporting. The Consumer Financial Protection Bureau (CFPB) noted the lender is a “repeat offender” in this area. By law, mortgage lenders are required to submit accurate loan data to the government.
Lender compare
Compare Freedom Mortgage to other lenders
Mortgage rates and fees can vary widely across lenders. You can use the drop downs to explore beyond these lenders and find the best option for you.
NMLS: 2767
State License: 2767
3.9
Rating: 3.9 stars out of 5
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Recent Customer Reviews
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
3.5
NMLS: 1429243
5.0
Rating: 5.0 stars out of 5
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Recent Customer Reviews
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
4.2
Freedom Mortgage special offers
Eagle Eye alerts
If you’re interested in a Freedom Mortgage loan, you can sign up for “Eagle Eye” alerts via text in order to be notified when interest rates go down or better opportunities become available.
Purchase Promise
This promotion from Freedom Mortgage guarantees that if your purchase loan doesn’t close by the closing date in your contract, the lender will pay you $1,000. The Purchase Promise doesn’t apply to jumbo loans or loans that include down payment assistance, and it’s not available on refinances.
Refinancing with Freedom Mortgage
Freedom Mortgage offers both rate-and-term and cash-out refinancing options. Its website offers a refinance calculator to help you estimate savings.
How to apply for a mortgage with Freedom Mortgage
You can apply for a mortgage with Freedom Mortgage by phone at 855-690-5900.
Learn more:
How to get a mortgage
Freedom Mortgage - HELOC customer ratings and reviews
NMLS: 2767
State License: 2767
3.5
27 ratings
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
This lender has 27 recent reviews.
Knowledge
Level of service
Professionalism
Responsiveness
78% of customers would recommend this lender.
10 of
27 reviews
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
In addition to collecting reviews on-site, Bankrate collaborated with third-party Slice MR to survey 750 homeowners nationwide in July 2024. Bankrate and Slice MR collected, averaged and presented responses to nine questions. Users received an incentive for their feedback. Responses are based on individual experiences, and therefore cannot be verified for accuracy. Submissions with user ratings that are materially inconsistent with written sentiment have been removed. User ratings are unedited and have not been reviewed or approved by lenders, nor do these ratings reflect Bankrate’s own reviews of these lenders.
To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
They are borderline criminal and don't care about customers
They are in the business of ripping people off. Do not transaction with Freedom Mortgage. They don't deserve 1 star.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
No
Would you recommend this lender?
No
FMB
WV (April 10, 2025)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
No
Would you recommend this lender?
No
Freedom Mortgage (FM) raised monthly payments on my fixed rate mortgage.
FM bought my mortgage from another company & started sending me monthly bills that were much more than the contract allowed. It took more than a year & the intervention of CFPB to get them to correct their mistake. When I forced them to reveal what they did, it turned out that they paid an annual premium for homeowners insurance to the WRONG company, leaving me uninsured for a year. When I pressed them to make their mistake right, they sold my mortgage to another company. There was never even the slightest indiction that they cared about cheating their customers. Every employee I dealt with had drunk the Kool-aid.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
No
Would you recommend this lender?
No
Dr. S.
Southern California (Feb. 19, 2025)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
No
Would you recommend this lender?
No
The worst
Incompetence and Indifference are words that describe this company. Do not believe the anonymous "fake" reviews. They won't call you back and refuse to correct their own gross errors that impact customers.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Closed on time?
Yes
Would you recommend this lender?
No
Tom
Baltimore (Dec. 31, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Closed on time?
Yes
Would you recommend this lender?
No
Terrible service
Terrible They agreed to the closing timeline when we went into this and now we're 7 days past the closing date and we still have not closed and they cannot give me a date. They've had everything they've wanted and needed for over 2 weeks. They do not communicate very well and depend on who you talk to is the story you get but all it's been is excuses. I would not use them or recommend them.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
No
Would you recommend this lender?
No
Ken
VA (Dec. 26, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
No
Would you recommend this lender?
No
Avoid this lender at all cost
They continue raising my monthly payment after making a duplicate tax payment and I'm still communicating with them for months to resolve the issue. I've also filed a CFPB complaint and they are in no hurry whatsoever to resolve my issues despite being out of $6000 and higher monthly payments that I need to make.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Closed on time?
Yes
Would you recommend this lender?
No
Danny L.
Bergen County, NJ (Dec. 20, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Closed on time?
Yes
Would you recommend this lender?
No
It’s really really fast friendly and trustworthy
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
This is not very reputable.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
No
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
They wanted alot of documentation but it was easy to get. I git the rate i applied for
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
They honored their rates without issues. The agents are friendly and responsive. I am overall satisfied with their service.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
No
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
No
Would you recommend this lender?
Yes
Honest. Reliable. Comfortable.
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Knowledge
Level of service
Professionalism
Responsiveness
Rates and terms of loan honored?
Yes
Closed mortgage with this lender?
Yes
Would you recommend this lender?
Yes
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