Alexa Home Loans Reviews

Alexa Home Loans’ website redirects to Fidelity Home Lending. This mortgage company offers a range of home loan options and a guarantee that it will beat any rate offered by its competitors.

Fidelity Home Lending states that its automated process and concierge service create a fast and easy home loan process. The website also offers a range of resources and calculators, which can help customers make more informed decisions.

You can apply for a home loan directly through Fidelity Home Lending’s website. You’ll provide basic information about yourself, along with the details of the loan for which you’re applying and a listing of your assets and liabilities. The beginning of the application says it should take between 10 and 15 minutes to complete.

After you submit your application, Fidelity Home Lending will match your account to a loan officer, who will work with you throughout the process. The loan officer should provide an estimate within three days.

Once approved, your loan will go through processing, where your information and documentation will be verified and checked over for any potential issues. After that, it moves to underwriting, where the loan will receive final approval (or more information will be requested, if necessary). Finally, if all goes well, you’ll head to closing, where you’ll sign the final paperwork and, if you’re buying a new home, receive the keys.

Fidelity Home Lending offers a broad range of products, including conventional mortgages, refinancing and cash-out refinancing. Here are your options when obtaining a mortgage for a new home with Fidelity Home Lending:

• Conventional loan: A “standard” mortgage that’s not insured by the government. You typically need better credit to qualify for a conventional loan (620 is the current minimum).
• VA loan: A government-backed loan geared towards U.S. military service members, veterans and their spouses.
• FHA loan: A government-backed loan that’s designed to help first-time homebuyers with low to moderate income.
• USDA loan: A government-backed loan intended for rural homebuyers with low to moderate income.
• Jumbo loan: Also known as nonconforming loans, jumbo loans are privately backed loans used when the financing needed exceeds conventional loan limits set by the government.

In addition to mortgages and refinancing loans, this company also offers home equity loans and home equity lines of credit (HELOCs).

Fidelity Home Lending doesn’t list its rates online. However, it does claim that it strives to deliver rates that are 0.25% to 0.375% lower than the national average quoted by Freddie Mac. The company also says it guarantees it will beat any loan estimate presented to it.

Aside from that, factors that may impact your mortgage interest rates include:

• Your credit score
• The location of the home
• The loan type (conventional, FHA, VA, etc.)
• The loan term (15-year mortgages usually have lower rates than 30-year mortgages)
• The size of your down payment

As with rates, Fidelity Home Lending doesn’t state fees online. Closing costs are generally between 2% and 6% of the loan amount, although this is a very rough guideline.

Closing costs are made up of lender fees, service fees for appraisals and inspections, government fees and potentially other fees, such as HOA fees. Your closing costs are listed in your loan estimate and closing disclosure.