SCORE: 4.6
By Josephine Nesbit
Homefinity Mortgage Review 2021 | The Simple Dollar
Overview
Homefinity is an online mortgage lender with corporate headquarters in Madison, Wisconsin. Launched in 2018, the lender has grown to more than 65 loan originators on staff, most of whom have more than 15 years of experience in the industry. It is licensed in 48 states (not Nevada and New York) and Washington, D.C., and in 2020, closed $1.98 billion in loans. Of the benefits of working with Homefinity, the lender sets itself apart with fast underwriting. “Over the last two years, our underwriting never exceeded 72 hours, which is super impressive,” says Jeff Groff, Homefinity senior vice president of Business Development and Strategic Planning. The average closing takes 30 days.
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Breakdown of Homefinity review score
- Affordability: 14.75/15
- Availability: 14/15
- Borrower experience: 10/10
Pros and cons
Pros
- Apply online, by phone or via Homefinity Xpress app
- Loan originators available around the clock, and borrowers communicate with same person from start to finish
- Real-time prequalification or same or next day preapproval
Cons
- Not available in Nevada or New York
- Not all loan originators licensed across all states
Good for
In-depth guidance from a dedicated loan officer and a fast, convenient process
Reputation
Homefinity’s parent company Fairway Independent Mortgage Corporation has been accredited with the Better Business Bureau since 2003 with an A+ rating and 4.97 out of five stars based on more than 3,000 customer reviews.
Refinancing with Homefinity
You have the option to refinance with Homefinity, but similar to applying for a purchase loan, you must provide your contact information so that a loan officer can reach out and assist you with the process.
Review methodology
To determine a mortgage lender’s SimpleScore, The Simple Dollar’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. The Simple Dollar’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.
