Change Home Mortgage

Change Home Mortgage

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About Change Home Mortgage

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Founded in 1994, Change Home Mortgage (NMLS# 1839) is a residential lender and direct seller of Fannie Mae, Freddie Mac and Ginnie Mae loans. It provides in-house lending services for the entire homebuying process, including underwriting. You’ll have a wide range of home loan options, regardless of your financial background.

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    • Small business owner-friendly
    • Offers reverse mortgages


    • Not available in all states
    • Not 100% online

    Bottom Line

    Change Home Mortgage specializes in Fannie Mae and Freddie Mac loans and is available in most states. Borrowers can apply for traditional loans, nontraditional loans, refinancing and reverse mortgages.


    Change Home Mortgage rates based on a borrower’s creditworthiness and the current mortgage rate average. You might not have control over the current market rates, but you can put your best financial foot forward before applying for a home loan.

    Here are a few factors that can help you get the lowest rate:

    • A high credit score: Buyers with higher credit scores will receive the best annual percentage rate (APR).
    • A large down payment: Not every loan type will require 20% down, but putting that amount down can eliminate private mortgage insurance (PMI) costs.
    • A low debt burden: Lenders know that debt is a reality, but keeping your debt load under 28% will show you are financially stable.

    Application process

    Change Mortgage helps both traditional and nontraditional borrowers get a mortgage loan. To start the application process with Change Mortgage, you will choose one of its advisors. This advisor will help you select the right home loan, start the application process and submit the necessary documentation.

    Change Mortgage can connect buyers to many programs that make homeownership a possibility. These programs include:

    • Fannie Mae HomeReady and Freddie Mac Home Possible: These loans are ideal for low- to moderate-income buyers, with the option to put 3% down.
    • VA loan: Qualified military-connected buyers can finance up to 100% of their home purchase with less restrictive qualifications.
    • FHA(b) loan: Eligible homebuyers can put as little as 3.5% down and have their fees and closing costs rolled into the loan.

    For nontraditional borrowers, such as those who identify as freelancers, gig workers or small business owners, Change Mortgage has unique offerings to help you meet loan requirements:

    • Alt-Doc Program: This program enables borrowers to show asset depletion and/or bank statement submissions to qualify for a loan.
    • Foreign National Program: This program is for nonresidents who hold a temporary residency visa and want to purchase a second home or investment property.

    Loan types

    For the traditional borrower, who can prove a steady income from an employer, there are several conventional and government-backed loans available, including:

    • Conventional loans
    • FHA loans
    • USDA loans
    • VA loans
    • Bridge loans
    • Jumbo loans
    • Mortgages for those with nontraditional income documentation
    • Reverse mortgages


    Refinancing can be a good choice if you want to lower your interest rate, change your mortgage term or access home equity. Change Mortgage offers refinance options through its mortgage advisors.


    Each type of loan offered through Change Mortgage has its own requirements. For example, government-backed loans have lower down payment requirements.

    Increase your chances of home loan approval by knowing how much home you can afford before you apply. Additionally, a good credit score and low debt burden will make you less of a risk in the lender's eyes.

    National mortgage requirements by type

    Min. credit scoreMin. down paymentCompare with other lenders
    ConventionalTypically 620Typically 3%Mortgage lenders
    FHA5003.5% with 580 credit scoreFHA lenders
    VASet by lender (often 580)0%VA lenders
    USDASet by lender (often 640)0%USDA lenders

    Cost and fees

    Buying a home costs more than the list price. Expect to pay closing costs in addition to the purchase price. Closing costs tend to range from 2% to 5% of the purchase price. Closing costs might include:

    • Appraisal fees
    • Inspection fees
    • Lender fees
    • Title fees
    • Recording fees
    • Insurance and taxes


    How does Change Home Mortgage work?

    Connect with one of Change Mortgage’s advisors to apply for a home loan. Change Home Mortgage offers mortgage products for both traditional and nontraditional borrowers.

    Is Change Home Mortgage legit?

    Change Mortgage is a state-licensed mortgage lender that has been around since 1994 and has helped over 250,000 borrowers.

    Where is Change Home Mortgage available?

    Change Home Mortgage has branches in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Louisiana, Maryland, Nevada, New Mexico, Oregon, Texas, Utah, Virginia, Washington and Washington, D.C. Many of the branches are authorized to do business in other states.

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    Change Home Mortgage Company Information

    Company Name:
    Change Home Mortgage