Morty Mortgage Review 2025

Morty overview

Morty is not a lender but rather an online mortgage broker founded in 2016 and based in New York City. Since its inception, Morty has processed over $2 billion in loans. The brokerage touts its quick online process, with fast applications, preapprovals and turnaround times, including the ability to close in as few as 14 business days. Morty also offers rate locks for up to 180 days.

Pros and cons of Morty

How Bankrate scored Morty

Affordability: 5/5

Morty has competitive mortgage rates, offers low down payment options and participates in Housing Finance Agency (HFA) affordable housing programs, earning it a perfect 5 out of 5 stars for affordability.

• Interest rates: Morty’s mortgage rates are significantly below the national average at the time of this review, giving it an edge over the competition.
• Down payment: Morty offers many loans with low- to no-down payment options.
• Fees: Morty doesn’t charge application, credit check or rate lock fees, but it does charge an origination fee. The lender Morty connects you with may charge extra fees.
• Closing costs: Closing costs will vary depending on your loan size, desired location and the lender you choose through Morty. 

Availability: 5/5

Morty offers a large array of loan options and is available in 45 states, plus Washington, D.C., so it scores the full 5 out of 5 stars for availability.

• Home loans offered: Morty offers conventional, jumbo, USDA, FHA and VA purchase loans.
• Footprint: You can get a Morty mortgage in Washington, D.C. and 45 states, not including Colorado, Louisiana, Nebraska, New Jersey and New Mexico.
• Where to find: Morty is an online-only brokerage with no branch locations

Borrower experience: 5/5

Morty has long rate lock periods, easy-to-use rate estimation tools and multiple contact methods, awarding it 5 out of 5 stars for borrower experience.

• Application and preapproval process: You can start the process with Morty by creating a free account online. From there, you can get preapproved in minutes. When you have an accepted offer on a house, you can then lock in your loan and rate, and complete the application and underwriting process. 
• Transparency: Morty's website has a customizable mortgage rate tool. The tool lets you input criteria and estimate your rate on various loan types.
• Customer service: With Morty, you can email, chat or call to speak with a loan officer. Its call center hours are Monday through Friday, 9 a.m. to 7 p.m. EST.

Morty reputation

Though it’s been in business for less than a decade, Morty has garnered a good reputation. While the Better Business Bureau has yet to accredit Morty, the agency has given the broker an A+ rating at the time of this review. The broker also gets an "Excellent" score from the review site Trustpilot.

Refinancing with Morty

If you’re looking to refinance your existing mortgage, the only way you can do it with Morty is if your original mortgage was obtained through the brokerage. It’s unclear what fees apply for refinancing. The brokerage also offers recasting, which doesn’t involve a new application but can lower your monthly payment and total interest for a cost, typically around $10,000.

How to apply for a mortgage with Morty

You can apply for a mortgage with Morty online or by phone at 844-457-8564. 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.