ZeroMortgage Review 2025

ZeroMortgage overview

ZeroMortgage, an affiliate of Interfirst Mortgage Company, is an online-only mortgage lender headquartered in Chicago. The lender only offers conventional loans, jumbo loans and refinancing options. One major highlight: This lender doesn’t charge points, application fees, lender fees or other hidden fees. As with every mortgage lender, you’ll still pay for costs like an appraisal and title insurance.

Pros and cons of ZeroMortgage

How Bankrate scored ZeroMortgage

Affordability: 3.3/5

Because ZeroMortgage isn't transparent about rates on its website, which would help borrowers compare costs with other lenders, it scored 3.3 out of 5 stars for affordability.

• Interest rates: Because ZeroMortgage doesn’t show mortgage rates online, it's difficult to compare its rates to Bankrate's national averages. This can make it hard to compare rates with other lenders to see where you could get the best deal.
• Down payment: The company offers conventional loans with just 3 percent down. If you want a no-down-payment option, such as a USDA or VA loan, you'll need to look elsewhere. 
• Fees: You won’t have to pay an application or underwriting fee with this lender, nor points to buy down your rate.
• Closing costs: While closing costs vary by borrower and loan type, you can expect to pay between 2 and 5 percent of the loan amount on these expenses. Your loan estimate will disclose your expected closing costs.

Availability: 4.5/5

ZeroMortgage works with borrowers in most states (excluding New York, notably), but it only offers conventional loans, which means some borrowers won’t qualify. For these reasons, ZeroMortgage earned 4.5 out of 5 stars for availability.

• Home loans offered: ZeroMortgage offers conventional loans but not FHA, VA or USDA loans. In addition, you can refinance your current mortgage or take out a jumbo loan.
• Footprint: The lender operates in most, but not all, states (Massachusetts, New Jersey and New York are not ZeroMortgage markets, for example).
• Where to find: You can apply for a mortgage with ZeroMortgage online or by phone at 800-520-7087.

Borrower experience: 3.1/5

Favorable fees are offset by a lack of rate transparency, leading to a score of 3.1 out of 5 stars for borrower experience. 

• Application and preapproval process: ZeroMortgage offers a fully online application process, and you can receive a rate quote without undergoing a credit check. The lender also offers 90-day rate locks. 
• Transparency: ZeroMortgage doesn’t display mortgage rates on its website. To learn what you could qualify for, you'll need to send the lender some information.
• Customer service: You can reach the lender by filling out an online form, calling or emailing. Its customer service hours are Monday through Friday, 9 a.m. to 5 p.m. CT.

ZeroMortgage reputation

ZeroMortgage and its affiliated brands have originated $3 billion in loans. The lender is accredited by the Better Business Bureau and has an A+ rating from the organization. The lender receives mostly positive customer ratings on Bankrate, averaging 4.5 out of 5 stars based on over 400 ratings at the time of this writing.

Refinancing with ZeroMortgage

ZeroMortgage offers rate-and-term and cash-out refinancing options. The lender doesn’t showcase refinance rates directly on its website, but it also doesn’t charge fees on any of its loan products, including refinancing.

How to apply for a mortgage with ZeroMortgage

You can apply for a mortgage with ZeroMortgage online or by phone at 800-520-7087. 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 a home 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.