Churchill Mortgage Reviews

Churchill Mortgage is recommended for borrowers with no credit scores who value living debt-free. Combined with Churchill Mortgage’s $10,000 seller guarantee, sellers and buyers have greater peace of mind about closing on time.

Homebuyers looking for a mostly digital experience with their mortgage loan process may not like that they have to speak with a home loan specialist before submitting an application. You also won’t find current rates on the company’s website, which can make it hard to quickly compare offers before reaching out to companies.

Taking out a Churchill Mortgage mortgage loan starts with completing an application online or at a local branch after talking with a home specialist. If you move forward, you can become a certified home buyer and receive a loan pre-underwriting instead of a standard loan pre-approval.

In pre-underwritten loans, an underwriter reviews your loan to conditionally and fully approve your mortgage financing. In standard pre-approvals, a mortgage lender verifies your financial information. However, your loan still has to go through underwriting to ensure you can get the financing you were pre-approved for.

After the home inspection and appraisal, your lender will ask for additional documentation to close the loan if they don’t already have it. Then, the underwriter will give you the final approval, process your closing papers and schedule your closing. On closing day, you’ll finish signing all the paperwork and get your home’s keys.

Churchill Mortgage also has a seller $10,000 seller guarantee that gives sellers $10,000 for loans not closing on time because of financing issues. This is in addition to earnest money and is an incentive that can make your offer more attractive to sellers.

» MORE: How to apply for a mortgage

Churchill Mortgage offers mortgage and refinancing loans. The company’s most popular refinance options are a 15- or 30-year conventional fixed-rate mortgage, but it also offers rate and term refinancing.

Churchill Mortgage’s loan options include:

Conventional loans

Conventional loans are typically not backed by the government. They typically require a 3% minimum down payment and a credit score of 620 or better.

FHA loans

Federal Housing Administration (FHA) loans are government-backed loans designed to help low-to-moderate income first-time homebuyers.

VA loans

U.S. Department of Veterans Affairs (VA) loans are government-backed loans created for people who have served in the U.S. military or their spouses.

USDA loans

U.S. Department of Agriculture (USDA) loans are government-backed loans for low-to-moderate income homebuyers in eligible rural areas.

Jumbo loans

This is a privately-backed loan typically used when financing exceeds conventional loan limits set by the government.

No score loans

This type of loan is available for conventional and government-sponsored loans. It uses alternative financial documentation to determine your ability to repay a loan, such as 12-month payment history on eligible monthly bills.

Low down payment programs

These programs include Home Possible, Home Possible Advantage and HomeReady loans. These loans provide greater flexibility in minimum down payment amounts, credit scores and more to help low-to-moderate income homebuyers purchase a home.

Churchill Mortgage intentionally doesn’t show interest rates online, claiming it can be misleading and confusing for clients. In general, mortgage interest rates are closely tied to the bond market and the 10-year Treasury note, but factors that impact your rate include your:

• Credit score
• Home location
• House selling price and loan amount
• Down payment
• Interest rate type (such as an adjustable or a fixed rate)
• Length of loan (such as a 15-year or 30-year term)
• Loan type (such as a conventional or government-backed loan)

» MORE: Current mortgage rates — check today’s rates

Churchill Mortgage doesn’t state what its mortgage fees are, but it says that homebuyers can typically expect closing costs to be between 2% and 5% of the loan amount. 

Closing costs generally include various lender fees, service fees (such as appraisals and inspections), government fees (such as recording charges and prorated property tax) and other fees (such as homeowner’s association fees and private mortgage insurance (PMI), if they’re not already a part of the monthly payment).

If you apply for a loan, your closing costs will be listed in your loan estimate and closing disclosure. The company claims to be transparent about any fees they charge.

Churchill Mortgage’s mortgage loans have more flexibility and alternative options for nontraditional borrowers than many other lenders. Here’s a closer look at how it compares with other popular lenders.

Yes, Churchill Mortgage is a legitimate lender with over 30 years in business. It has served over 100,000 customers since its inception. The company is also affiliated with Dave Ramsey, a celebrity personal finance expert who stresses a debt-free lifestyle. If you’re looking for a new mortgage or refinancing loan, we recommend checking out Churchill Mortgage.