Churchill Mortgage Review 2024

Churchill Mortgage overview

Churchill Mortgage is a privately held lender founded in 1992 and based in Brentwood, Tennessee. The nation’s 144th-largest mortgage originator in 2022, per federal data, it offers a number of mortgage products, including conventional loans, FHA loans, jumbo loans and refinancing, as well as a "no-score loan" with manual underwriting for borrowers with unique credit circumstances. The lender operates in the majority of states and Washington, D.C., and has branch locations in several states.

Pros and cons of Churchill Mortgage

How Bankrate scored Churchill Mortgage

• Affordability: You’ll need to touch base with a Churchill loan officer to learn what rates you might qualify for, but the lender’s Rate Watch tool can alert you when your target rate becomes available.
• Availability: Churchill Mortgage does business in most states (with the exception of New York). It boasts a diverse set of loan offerings, including for borrowers with limited credit histories.
• Borrower experience: You can initiate a request for a rate quote and apply for a mortgage via the Churchill website or app.

Affordability: 6.8/10

Churchill Mortgage doesn’t publicly advertise rates on its website; you’ll need to connect with a loan officer for a custom quote. The lender’s closing costs typically range from 2 percent to 5 percent of the loan amount.

Availability: 10/10

Churchill Mortgage is available to borrowers in all states except New York. Its product lineup includes conventional FHA, VA and USDA loans. The lender also uniquely offers “no-score” loans, designed for credit-challenged borrowers.

Borrower experience: 6/10

In business for 30 years, Churchill Mortgage is an A+-accredited company with the Better Business Bureau. The lender also has 4.8 out of five stars on Trustpilot, which is considered “Excellent.” You can start the purchase loan or refinance process with Churchill Mortgage on the lender’s website, either with a prequalification (provided within 24 hours) or preapproval (provided in as little as a few hours or up to a few days). From there, you’ll indicate the state where the home is located and provide some personal information so you can speak with a loan officer to review your options. Churchill Mortgage also has an easy-to-use app that allows you to apply for a loan in 10 minutes and track its status. The lender can close within 14 days. The lender offers additional online resources, as well, such as free guides and mortgage calculators.

Images courtesy of Churchill Mortgage as of 4/29/2024. Note: Depending on method of contact, your individual credit profile and other circumstances, your experience might differ.

How to apply for a mortgage with Churchill Mortgage

You can apply for a mortgage with Churchill Mortgage in person at a branch location, online or by phone at 888-562-6200. 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 Churchill Mortgage

Churchill Mortgage offers both rate-and-term and cash-out refinancing options.

• 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.