Gateway Mortgage Group

Gateway Mortgage Group Reviews

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About Gateway Mortgage Group

Gateway Mortgage is the mortgage lending division of Gateway First Bank (NMLS #7233). It has a wide range of loan products, including traditional mortgages and harder-to-find options (like one-time close construction loans, FHA 203(k) mortgages and manufactured-home loans). You can apply for a loan from the company’s website.

    Pros & Cons

    • Variety of loans, including construction and lot loans
    • Programs for first-time homebuyers
    • Online application process available
    • Not available in all states
    • Unclear fees and requirements

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    Over the last few years, Gateway Mortgage has had an average rate that’s about on par with the national average for noncommercial home purchase loans. Just remember that interest rates depend on a borrower’s personal financial circumstances (including their credit score and DTI ratio) and current economic conditions.

    Gateway Mortgage offers both fixed-rate and adjustable-rate mortgages (ARMs). Its ARMs’ initial rates stay fixed for three to 10 years, which means you’ll have a fixed rate for that time frame. Then your rate will reset every six months for the rest of your loan term.

    Choosing between a fixed rate and an adjustable rate often comes down to personal preference and economic circumstances. For example, some borrowers prefer a monthly mortgage payment that won’t change for the next 30 years. However, other borrowers may prefer a rate reset in the future if rates are currently high and are expected to come down over time. Also, buyers who know they will sell the house before the rate resets may be attracted to the low introductory rates of ARMs.

    Gateway Mortgage average home purchase rate vs. national average

    Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

    Application process

    The loan process at Gateway Mortgage begins with an online application on the company’s website. The application will ask a few short questions, like the state you plan to purchase in and the mortgage loan officer you are currently working with. If you don’t have a loan officer, the company provides a phone number to call if you have any questions as you complete the application.

    Next, you’ll create an account and provide your contact information, like your name, address and phone number. You’ll also provide information about your account balances and the value of any real estate you own.

    Once you’ve done as much as you can online, a loan officer will contact you to help finalize your application. They may ask you questions about your financial situation to determine the best loan option for you. Be prepared to answer questions about your debt and income too — Gateway Mortgage uses this information to determine your loan amount. Once your application is complete, you could receive a pre-qualification decision in as little as one business day.

    Rachael, a ConsumerAffairs reviewer from Salt Lake City, had this to say about their experience with Gateway:

    “Debbie and her team helped me lower my interest rate on my mortgage and get rid of my private mortgage insurance, which lead to a substantial drop in my monthly mortgage payment. Even closing was easy, I signed some documents online and Debbie coordinated a mobile notary to come to my house.”

    Gateway Mortgage application features

    Loan types

    Gateway Mortgage offers both conventional mortgages (conforming and jumbo loans) and government-backed mortgages (FHA, VA and USDA loans). Loan terms range from 10 to 30 years, and loans are available with fixed or adjustable rates. The company also offers loans to purchase condominiums, lots and manufactured homes.

    In addition, there are a variety of programs available to homebuyers in unique situations. For first-time homebuyers, there’s the HomeReady program by Fannie Mae and the Home Possible program by Freddie Mac. Both feature low down payments and varying loan terms. Gateway also works with down payment assistance programs, which help borrowers apply for grants to help cover the cost of the down payments and closing costs.

    In 2021, Gateway Mortgage had 761 home purchase applications submitted. About 63% (478) of home purchase applications resulted in loans, and less than 1% (5) were denied.

    Loan applications for home purchases only by year

    Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.


    In 2021, more than half of the mortgage loans Gateway Mortgage originated were for refinances. About 39% were for rate-and-term refinance loans, and 20% were for cash-out refinances. The remaining portion of loans (about 41%) was for home purchase.

    Many borrowers chose to refinance in 2020 and 2021 as rates fell to historic lows. By locking in a lower rate, borrowers who refinanced in the first half of 2021 were able to save over $2,800 a year on average, according to data from Freddie Mac.

    As mortgage rates climb, fewer borrowers are expected to refinance in 2022. However, you may still choose to explore your refinancing options should you need the cash or want to pocket some interest savings each year. Generally speaking, reducing your loan term can help you lock in a lower rate and save thousands in interest over the lifetime of the loan. However, keep in mind that your monthly payment is likely to increase with a reduced loan term.

    Home purchase vs. refinance loans by year

    Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.


    Gateway Mortgage doesn’t publish many of its borrower requirements, but those that it does post online are generally in line with industry norms. We’ve included the table below to outline some general mortgage requirements, but be aware that Gateway may deviate from these, especially with some of its less common loan programs.

    National mortgage requirements by type

    Costs and fees

    Gateway Mortgage does not publish much information on fees for its loans; however, closing costs generally total 2% to 5% of the loan amount. Also, before you sign a loan agreement, you have the right to know the fees a lender charges to process, underwrite and originate your loan.

    Gateway Mortgage should provide a Loan Estimate within three business days of receiving your application, which will give you an idea of your closing costs. Keep in mind that this is only an estimate and costs could vary slightly before closing. You’ll receive a Closing Disclosure three days before the closing that details all your final costs.


    What is Gateway Mortgage?

    Gateway Mortgage is a division of Gateway First Bank. Gateway First Bank is a financial institution that offers banking and mortgage services to both individuals and businesses. It was founded in 2000 and offers an array of loan options. The company is headquartered in Jenks, Oklahoma.

    Is Gateway Mortgage legit?

    Gateway Mortgage has been in business for over 20 years, accumulating 170 locations nationwide and more than 300,000 home loans closed.

    Where is Gateway Mortgage available?

    At the time of publishing, Gateway Mortgage’s online application process allows you to start an application if you’re in any state except:

    • Alaska
    • Hawaii
    • California
    • Maine
    • Massachusetts
    • Montana
    • New Hampshire
    • New York
    • Rhode Island
    • Vermont

    Gateway Mortgage Group Reviews

    Stars Rating

    • 28%
    • 34%
    • 12%
    • 6%
    • 21%

    Popular Mentions

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      How do I know I can trust these reviews about Gateway Mortgage Group?
      • 4,480,424 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10
      Loan ProcessRates

      Reviewed March 28, 2024

      We are completely horrified by our experience with Gateway as our lender. Zero trust they will do the right thing for their customers. We have a fixed rate mortgage and noticed our monthly payments started going up $700+/mo. It turned out that Gateway had mistakenly gone out and purchased homeowners insurance on our behalf (completely unauthorized by us- we already have homeowners). Once we finally got them to correct and cancel it, they insisted we needed to continue to pay the additional $700+ for another month as their systems processed it. And if we didn’t, they would send us to creditors. We are completely shocked that they would not only pass along the financial burden to the customer for their mistake, but actually threaten our credit on top of it.

      Reviewed Dec. 30, 2023

      We were all ready to buy our new house. Lender Brad stated the credit would not be ran again. He told us to write a letter removing a dispute. However we were deceived. The credit was ran, dropped the score and our funding fell through..

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        Customer ServiceLoan Process

        Reviewed June 26, 2023

        I spoke with Gateway Mortgage's Customer Service over the phone today and was exceptionally disappointed to be told that their process for PMI removal will only take into account (a) the percentage paydown on the original loan amount or (b) a list of improvements done to the property totaling the difference between the principal balance and 80% of the original value.

        My simple request was to pay for an appraisal that would establish the current value of our home and have that used to establish the amount owed is less than the 80% threshold. I was told this was not possible. If this is indeed the case, then your process is an exceptional disappointment since recent comps on our street sold for $200-300K more than we currently owe. Even a conservative appraisal based on these comps would show our principal owed falling between the 60-70% threshold. This level of home appreciation must be taken into consideration through a fair and current appraisal, allowing the possibility of PMI removal, in order to consider their service adequate.

        Punctuality & SpeedLoan Process

        Reviewed Jan. 27, 2023

        I have done business with Gateway for over 4 years. My loan is and always has been in good standing, no late payments, nothing. I was notified tonight that they sold my loan off to a company called LoanCare, LLC which has multiple lawsuits against it and nothing but one horrible rating after another. If this is how Gateway treats their customers, they need to be put out of business.

        Reviewed Jan. 26, 2023

        If you decide to get or have a Gateway Mortgage loan and have an insurance claim. BEWARE! They have the most ridiculous process to get the insurance check endorsed. I've had other storm damage insurance claims and had other mortgage companies and never once jump through hoops like Gateway Mortgage demands. Gateway wants to handle you like you are a small kid. They are sending me the pay-off amount so I can get them paid and done with. Will never use Gateway Mortgage again. Too many other great mortgage companies to give your business to.


        Reviewed Nov. 29, 2022

        We sold our house in Texas after we talked to ** that told she would help us with good people with Gateway in Arizona Gorge and Hilda. Well our home sold 11/22/2022 because believe on their word that the house in Arizona would be available to close on 11/18/2022 and it was not true. We moved all our stuff into storage. Rented 3, 26 foot trucks cost of each 1 800 hundred 600 hundred on storage and 7,643 on rental house 'cause they denied our loan because Gorge and Hilda didn't do their job correctly. Always wanting stuff we couldn't get.


        Reviewed Sept. 10, 2022

        Last June 2021 gave them all past w2 info. They falsely put extra income on my application, provided a pre qualified letter stating the amount I am approved for. The false info led that letter to not inform me I NEEDED TO SELL MY HOUSE FIRST BEFORE SECURING THAT MORTGAGE. I entered into a contract to purchase without the knowledge and then, my house deal fell through. I lost money due to this event. I WOULD HAVE NEVER ENTERED INTO THAT CONTRACT. I had no idea I needed to sell my house first!!!! Nasty liars and indifferent they were in the end. Literally made me then pay for appraisal and inspection, told me doing that would get me my deposit back when all it did was make me spend more money. Horrible.

        Customer ServiceStaffLoan ProcessRates

        Reviewed July 6, 2022

        Looking to refinance my home, I contacted a few lenders. Not only was Debbie the quickest to reply, she also answered every question I had about PMI, escrow accounts, and more. Far and away the easiest loan officer to work with and talk to about this seemingly convoluted process to refinance a home! Debbie and her team helped me lower my interest rate on my mortgage and get rid of my private mortgage insurance which lead to a substantial drop in my monthly mortgage payment. Even closing was easy, I signed some documents online and Debbie coordinated a mobile notary to come to my house to finish the required signatures in person.

        StaffLoan ProcessRates

        Reviewed May 21, 2022

        I refinanced my house from a reverse mortgage that Gateway and ACME Title paid off someone else's loan in error and still has not paid off mine. It has been 3 months. Faulty loan originator charging me for rate lock extensions as he told was "a courtesy" because it was no fault of mine that they had issues getting the payoff statement needed for closing so then why was I charged the extension fees? The extension was made to expire before the estimated closing date which resulted in a 3% increase from .5%. I was promised a refund that was not made and still waiting for the reverse mortgage to be paid off.


        Reviewed March 22, 2021

        1). My account was double charged for my mortgage twice during the last 18 months.

        2). I called in to inquire about a refinance and was asked for my SSN to access my account. I deliberately stated not to run my credit multiple times and Grant ran my credit without my knowledge the first time I ever spoke with him. Which has been removed from my credit report. After I found the unauthorized credit pull I changed mortgage companies. BUT HE WAS NEVER FIRED AND KEPT CONTACTING ME.

        3). Upon requesting a payoff I found they took my principal payment of $600 and used it towards invalid fees charged but accidentally charging me twice for my mortgage. I spoke to two managers to ensure that this would be corrected before my payoff was sent to me. I was reinsured this would be $3,400-$3,500 back due to the issues.

        4) I received a payoff check for $1,785.60, nearly HALF of what was guaranteed. I called in and was informed that PMI was charged on the 18th of October, 14 days after my mortgage was closed with Gateway. I paid $330 per month toward PMI every month and they are telling me that I only get charged every 6 months for it.

        5) I fought with a manager regarding the missing payment for 3 months.

        6) 1YR & 7 Months later I recieved a letter that they still owed me $1785.60 AS I STATED! The check will not be overnighted and will take 30 days to arrive. LET'S SEE IF IT ACTUALLY GETS HERE.

        1) Stop committing credit fraud by using your customers account information to your benefit and FIRE people that do commit fraud!
        2) Reissue me the payoff for the amount we agreed upon for $3,500.
        3) Send a detailed account payoff statement and stop leaving your customer in the dark.


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          ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page .
          1. Federal Financial Institutions Examination Council (FFIEC) “ HMDA Dataset Filtering .” Accessed September 12, 2022.
          2. Freddie Mac, “ Refinance Trends in the First Half of 2021 .” Accessed September 12, 2022.

          Gateway Mortgage Group Company Information

          Company Name:
          Gateway Mortgage Group