HomePlus Mortgage Review 2025

HomePlus Mortgage overview

HomePlus Mortgage is a mortgage broker headquartered in San Diego, California, Florida, Nevada and Texas. The broker, founded in 1999, offers online preapprovals and boasts closing times in as few as 21 days. Through HomePlus, you can get conventional or government-backed loans, as well as jumbo loans. You can also refinance through the broker.

Pros and cons of HomePlus Mortgage

How Bankrate scored HomePlus Mortgage

Affordability: 4.9/5

HomePlus Mortgage is a broker, so its interest rate offers vary by lender. However, reported HomePlus interest rates were competitive compared to Bankrate's average at the time of this review. HomePlus Mortgage charges an underwriting fee, but other fees will vary based on the lender you are matched with. For these reasons, the broker gets an affordability score of 4.9 out of 5 stars.

• Interest rates: These vary depending on the borrower and the specific lender HomePlus matches them with for a loan. For a quote, you’ll need to complete an online form with your information. 

• Down payment: Because HomePlus is not a lender in and of itself but rather a broker, down payment requirements will differ depending on the loan type and lender requirements. The broker does have a down payment minimum of 5 percent for conventional loans, however. 
• Fees: Similar to down payments, HomePlus customers are likely to see a variety of fee structures depending on the lender they are matched with. However, HomePlus itself does charge an underwriting fee.
• Closing costs: Closing costs will also depend on the mortgage lender that HomePlus connects you with. For interested borrowers, there are no-closing-cost options available.

Availability: 3.7/5

HomePlus only issues loans in 14 states, but it offers many mortgage options. You can apply for a mortgage online or visit a branch office, however, locations are limited. All of these factors give the broker an availability score of 3.7 out of 5 stars. 

• Home loans offered: HomePlus offers a variety of products, including conventional loans, FHA loans and VA loans. It also offers refinancing options and jumbo loans. 
• Footprint: HomePlus is licensed to work in Arizona, California, Colorado, Florida, Idaho, Montana, Nevada, New Mexico, North Carolina, Oregon, Tennessee, Texas, Utah and Washington.
• Where to find: You can begin the mortgage process online by filling out a form or requesting a one-on-one consultation with a team member. Or you can visit a branch location in California, as well as in Reno, Dallas and Tampa.

Borrower experience: 4.4/5

HomePlus allows you to apply online for a mortgage, reports fast closing times and has multiple methods to contact customer service. It also offers the ability to close on your loan remotely and does virtual notarizations. However, because it is not very transparent about rates on its website, it gets 4.4 out of 5 stars for borrower experience.

• Application and preapproval process: The first step toward preapproval is applying for a quote on the HomePlus website. You'll need to provide personal information like your employment status, monthly income and credit score. Notably, the broker tends to process applications quickly: Borrowers can close on their loans in as few as 21 days at the time of this review.
• Transparency: HomePlus does not display rates on its website. To get a customized quote, you must fill out an online form.
• Customer service: If you have questions about your loan, you can get in touch with a representative by phone, email, online chat or text message. You can also visit a local branch, but hours will vary.

HomePlus reputation

HomePlus is accredited by the Better Business Bureau and holds an A+ rating with the organization. While industry power players do not publicly recognize HomePlus, it received an "Excellent" rating on Trustpilot at the time of this review. The broker's website also boasts over 3,000 5-star reviews.

Refinancing with HomePlus

HomePlus Mortgage offers both rate-and-term and cash-out refinancing options. To receive a refinance rate quote and cost estimate, you’ll need to complete an online form. 

To ensure you are securing the right kind of refinance, be sure to ask a lot of questions when speaking with a representative. The more specific information you provide to HomePlus, the more closely they will be able to match a mortgage product to your unique needs. 

How to apply for a mortgage with HomePlus Mortgage

You can apply for a mortgage with HomePlus Mortgage in person at a branch location, online or by phone at 800-810-7587 (800-810-PLUS). 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.)

• 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.