HomeLend Mortgage Review 2024

HomeLend Mortgage overview

HomeLend Mortgage is the consumer-direct company owned by New Jersey-based Kwik Mortgage. The lender has helped more than 10,000 borrowers with more than $4 billion in mortgages since its founding in 1998. It specializes in offering an entirely digital experience, with an online portal borrowers can use to track their applications, e-sign and more. It’s a smaller player: Kwik Mortgage was the nation’s 792nd-largest mortgage originator in 2022, according to federal data.

Pros and cons of HomeLend Mortgage

How Bankrate scored HomeLend Mortgage

• Affordability: HomeLend Mortgage doesn’t charge lender fees.
• Availability: HomeLend works with borrowers in the most populated states, but it’s not available in all states. It has a diverse set of loan offerings for different kinds of borrowers.
• Borrower experience: If you qualify, you can get a preapproval in 15 minutes from this lender.

Affordability: 6.6/10

HomeLend Mortgage doesn’t charge any lender fees. It doesn’t publicly display its rates online; however, you can complete a custom rate quote form with information about your credit score, employment status and other factors to get a personalized estimate of your borrowing costs.

Availability: 7.6/10

HomeLend Mortgage operates in less than half of U.S. states, but notably works with borrowers in California, Florida, New York and Texas. The lender provides conventional loans as well as some government-backed loans (FHA and VA), along with refinancing should rates drop. It also offers jumbo loans.

Borrower experience: 7.3/10

HomeLend Mortgage has been in business for more than 20 years. The lender is accredited by the Better Business Bureau and has an A+ rating from the organization. You can submit a request for a custom rate quote on HomeLend’s website to get an estimate of your mortgage costs, and you can apply for your loan online, too. The lender typically issues preapprovals in 15 minutes. You can lock your rate, sync your bank accounts, upload documents and sign them electronically via the lender’s portal, as well. There’s also a calculator to help estimate your monthly payments.

How to apply for a mortgage with HomeLend Mortgage

You can apply for a mortgage with HomeLend Mortgage online or by phone at 888-749-9595. Here are some tips to prepare for the process:

1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with HomeLend Mortgage

HomeLend Mortgage offers both rate-and-term and cash-out refinancing options. The lender’s website doesn’t offer much information about refinancing options, but you can get a custom rate quote. As with purchase, there are no lender fees for refinancing.

• Methodology

  To determine a mortgage lender's Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender's products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability. Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%

  • Availability. Loan products - 50%; licensing - 40%; credit score - 10%

  • Borrower experience. Rate transparency - 45%; customer service - 25%; convenience - 10%; days to close - 10%; rate locks - 10%; reputation (bonus)

  Learn more about our methodology.

  How we suggest lenders to compare

  To help you make the most informed decisions, our editorial team suggests two (2) alternative mortgage lenders for each lender reviewed in our comparison table. In most cases, these alternatives 1.) share the same strength (affordability, availability or borrower experience) as the lender reviewed; and 2.) rate highly for Bankrate Score. In the event more than two lenders meet these standards, we suggest the ones with the lowest APRs.