Freedom Mortgage Review 2025

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

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.

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.

• 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 - 35%; customer service - 35%; convenience - 20%; rate locks - 10%; reputation (if applicable)

  Learn more about our methodology.