Homebridge Financial Services Mortgage Review 2024

Homebridge Financial Services overview

Homebridge Financial Services offers a variety of mortgage and refinancing options, with a special focus on renovation loans. It was the 40th-largest mortgage originator overall in 2022, according to federal data, and the government has recognized it as a top 203(k) renovation loan lender.

Pros and cons of Homebridge Financial Services

How Bankrate scored Homebridge Financial Services

• Affordability: It won’t be easy to do an at-a-glance comparison of rates from Homebridge Financial Services with those of other lenders, as it doesn’t showcase current rates on its website. Its lender fees typically total $1,225.
• Availability: This lender is available in most states and offers a diverse set of loan programs, including non-QM products.
• Borrower experience: You can start an application with Homebridge online, but most of the lending process happens offline.

Affordability: 6.8/10

You won’t find mortgage rates from Homebridge Financial Services advertised on the lender’s website. To see rates and other information about how much a loan might cost, you’ll need to complete a form and wait for a loan officer to contact you. While the lender doesn’t charge an origination fee, its other fees typically total $1,225. There might also be a fee for rate-lock extensions, which could be partially refunded in some cases.

Availability: 9.8/10

Homebridge Financial Services provides conventional loans as well as government-backed loans through the FHA, VA and USDA programs. It also offers options to refinance your existing mortgage, as well as construction and renovation mortgages and loans on investment properties. The lender operates in all states but Utah.

Borrower experience: 4.8/10

Homebridge Financial Services has been in business for more than 30 years. The lender has an “Excellent” rating on Trustpilot (4.8 out of five stars) and an A- from the Better Business Bureau. Notably, the lender’s regional branches regularly host educational events, and it offers some useful online tools, including mortgage payment and rent versus own calculators, but doesn’t allow you to go through most of the lending process online. To get started, you’ll need to fill out a form on the lender’s website detailing the type of loan you want and the home you’re looking to buy or refinance. A loan officer will then reach out to you to follow up — there’s no way to get a preapproval or apply for a loan online.

How to apply for a mortgage with Homebridge Financial Services

You can apply for a mortgage with Homebridge Financial Services online or by phone at 888-266-4930. 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 Homebridge Financial Services

Homebridge Financial Services 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.