Homebridge Financial Services
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Homebridge Financial Services

 4.1/5 (877 ratings)
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Homebridge Financial Services

About Homebridge Financial Services

Homebridge Financial Services (NMLS #6521) is a nonbank mortgage lender that offers a wide variety of loan types. It has been in business for more than 30 years and is headquartered in New Jersey. The lender offers an online application process, which is available after you speak with a loan officer about programs and rates. It has options for low- to middle-income borrowers and offers specialty loans, such as energy-efficient mortgages and construction loans.

Overall Satisfaction Rating

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Pros

  • Nontraditional buyers programs
  • Retail branches in 31 states
  • Online application process

Cons

  • Refers some of its loans to third parties
  • No mobile app

Bottom Line

Homebridge Financial Services offers loans for all types of borrowers and an online application process. You’ll need to speak to a loan officer to confirm rates. The company doesn’t offer services in Utah or a mobile app.

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Rated with 5 stars
Verified

I found the Homebridge staff very professional, helpful, and knowledgeable. Mike ** was really great to work with and made the whole process go smoothly and on time. Mike and his ...

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Rated with 5 stars
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The assistance of Gregory ** and the collaboration of his team made the experience … an easy and stress free one. The overall management of the process was well handled by Greg an...

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Rates

Homebridge doesn’t publish its rates or fees on its website, but you can fill out a brief online form to have a representative contact you regarding the company’s programs and rates. You can also call its customer service team or visit in person one of its branches, which are located across 31 states.

The company offers both fixed- and adjustable-rate mortgages (ARMs) — both can be good options, depending on your situation. An ARM offers a low initial interest rate for a specified period (usually three to seven years), but then the loan resets, adjusting up or down based on a benchmark index rate and margin listed in your loan agreement. Future rate uncertainty in an ARM can make budgeting a challenge for some.

In recent years, Homebridge’s home purchase rates have stuck pretty close to the national average. In 2020 and 2021, its rates for home purchase loans were 0.03% and 0.01% below average, respectively.

Homebridge Financial Services average home purchase rate vs. national average

YearDifference from national average
2021-0.01%
2020-0.03%
2019+0.1%
Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

Homebridge offers a few ways to start a mortgage application: You can fill out an online form to be contacted by a loan officer, visit a local branch or call the company's customer service team.

Once you discuss the loan options and rates, you can complete an online application. The company doesn’t have a mobile app, but it does offer an online portal to track the progress of your loan.

A mortgage application goes through a standard underwriting process, where the lender checks all the information you supply. You can expect to submit the following:

  • Government-issued ID and Social Security card
  • Current and past addresses
  • Employer information and proof of income for two years
  • Statement for money-related assets
  • Information about debts

One reviewer on our site from Colorado Springs, Colorado, said about applying with Homebridge Financial Services: “Our real estate agent worked with Homebridge, had a relationship with them and recommended them. My credit was not ideal and that was why I was very skeptical about the whole process, but my wife and I were shocked at how smoothly everything went.”

Homebridge Financial Services application features

FeaturesAvailability
Online application
Mobile document uploadX
Physical branches31 states
Publishes minimum rate on websiteX
Rate lock10 to 60 days or more
Pre-qualification (no hard credit pull)
Certified approval letter

Loan types

Homebridge has a variety of loan options, including conventional loans and government-backed mortgages (FHA, VA and USDA). It also offers home equity lines of credit (HELOCs), renovation loans, jumbo loans, refinances, reverse mortgages and construction loans.

In addition, Homebridge makes loans to nontraditional buyers, like those who are self-employed. It also has a disaster relief program that assists those who are affected by recent flooding, storms or fires by waiving late fees and offering payment assistance options.

In 2021, Homebridge received 34,006 home purchase applications. The company ultimately closed 27,895 of these loans and denied 2,196 applications.

Loan applications for home purchases only by year

202120202019
Home purchase applications34,00641,61029,973
Home purchase loans closed27,89532,99223,526
Home purchase applications denied2,1961,4761,123
Home purchase preapprovals denied000
Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

Homebridge loans over the past several years are fairly split between home purchase and refinance loans.

Mortgage refinancing has been a popular option for homeowners in the past two years due to historically low interest rates. In 2021, 35.73% of all reported mortgages in the U.S. were for home purchases, while 37.89% were refis and 19.89% were for cash-out refinancing, according to Home Mortgage Disclosure Act (HMDA) data.

In 2021, just over 47% of Homebridge’s loans were for home purchases; about 39% were refis, and 13% were for cash-out refis.

With interest rates rising, fewer people are expected to refinance in 2022 — but it remains an attractive option for those who can qualify for lower rates.

Home purchase vs. refinance loans by year

202120202019
Home purchase loans47.4%42.14%44.63%
Refinance loans39.15%49.16%43.16%
Cash-out refinance12.95%8%10.41%
Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

HELOC and home equity loans

Homebridge Financial also offers home equity lines of credit, or HELOCs, which provide access to the equity you’ve built in your current home. A HELOC is a revolving line of credit that lets you withdraw up to your limit and pay back only what you borrow. Homebridge HELOCs allow you to borrow up to $400,000.

Requirements

Different loan programs have different borrower requirements in terms of credit score, down payment amount and debt-to-income ratio, among other factors. Homebridge doesn’t publish these requirements. Credit score minimums tend to range from 500 for some FHA loans to 680 for a jumbo mortgage.

Most lenders require a debt-to-income ratio of 36%, but some lenders accept 45% or higher. Homebridge does offer programs for low-income borrowers and nontraditional buyers, like those who are self-employed.

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

All mortgages come with costs and fees, but Homebridge doesn’t publish its fees. To get this info, you can fill out an online form and wait for a loan officer to contact you, call customer service or visit a local branch. The closing costs for a mortgage usually range between 2% and 5% of the total loan amount. Mortgage fees may include:

  • Loan origination fees
  • Application fees
  • Processing fees
  • Underwriting fees
  • Title fees
  • Insurance
  • Appraisals and inspections

Closing costs are sometimes negotiable; you can discuss this with your loan officer.

FAQ

How does Homebridge Financial Services work?

To apply for a mortgage loan with Homebridge Financial Services, you can fill out a form online and an associate will contact you. You can also visit a local branch or call customer service. The application can be done entirely online, and Homebridge assigns a loan officer to keep in touch throughout the application, underwriting and closing process.

Is Homebridge Financial Services legit?

Yes, Homebridge Financial Services is a legitimate lender. It was established over 30 years ago, and, as of publishing, it has a rating of more than 4 stars and over 870 reviews on our site.

Where is Homebridge Financial Services available?

Homebridge Financial Services has branches in 31 states. It is licensed to originate loans in all states except Utah.

Homebridge Financial Services Reviews

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1 featured review
How do I know I can trust these reviews about Homebridge Financial Services?
How do I know I can trust these reviews about Homebridge Financial Services, Inc.?
  • 4,115,015 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.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
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Verified Reviewer
Original review: Aug. 18, 2022

I pay my mortgage on time, never been late, I call customer service, to pay my mortgage, and for some reason, I felt like it was a scam, I heard dogs in the background, she took my payment, but I call another rep, and I told her my situation, she said even if two payments where made, the system would kick one of them out, but they didn't, Homebridge was trying to take an additional payment out, which put my region account in the negative, instead of homebridge applying the money to my account, they sent me a check back with the amount of my mortgage, which came late, once I receive the check, I had to put it back into my account, and wait a couple of days for it to clear, and reprocess it,.

Homebridge reported the payment as being late, to the credit bureau, by now I'm totally pissed, when I call them, even they said it was they fault, I kept filing disputes, and keep getting denied, next thing I know, they sold my mortgage to another mortgage company, homebridge is one pitiful company, real proudful, and don't care about their customers, if I don't get these taken off my credit report, I'm going to get me a lawyer, and maybe I can start a class action lawsuit, I can't let this go, maybe it will help other people in the future, one mad ex customer.

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    Rated with 1 star
    Verified Reviewer
    Resolution response: July 19, 2022

    I have decided to go another route with Mr. Tom **. Homebridge did not have knowledge of this as it was before Tom worked there.

    Original review: July 18, 2022

    I hired Tom O'Hara to refinance the loan on my home - it was a cash out loan. At the time, I had been recently divorced with a small child at home. At the closing table, Tom decided to add 2.00% (points) to my closing costs - which increased my bottom line by $8000.00. Since I was under the gun (per my separation agreement) to payoff certain debts by a certain time, I had no choice whatsoever but to allow Tom to steal from me. I would have been in contempt of court had I not paid those debts by a certain time, and Tom knew that and took advantage of that. I CANNOT recommend Tom for any transaction - purchase or refinance. Had this occurred recently, Tom would have had his license pulled. It was not legal then and it's not legal now.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 5, 2022

    I didn't have my loan with them 2 years and they sold it. All my payments have been on time. My credit score tanked. I've been working on padding my score so I could do a cash out refi. I wasn't given enough notice to get my loan refinanced with a preferred lender under new terms. You are just a commodity to Homebridge Financial Services.

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    Rated with 1 star
    Verified Reviewer
    Original review: March 14, 2022

    We had a loan through Homebridge and sold the House on Jan 28th. Homebridge knew the house was sold and receiving payoff by March 2nd. They then sold the loan to another finance company. Now the new owner of the house can't get the financing to go through because Homebridge sent the payoff to the new company on March 2nd and the house never got paid off. So now there is a family not able to finance a house they bought and I’m now out more finance fees and over-payage of about $ 989. Homebridge said I have to deal with that with the new company and the new company said Homebridge shouldn’t have sold our loan out knowing it was sold. So… Homebridge told me it’s my issue and they aren’t liable. So they just put everything on me and the new finance company! Worst customer service ever. Obviously the big companies don’t care about the little people and if they get screwed over!

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 16, 2021

    I borrowed mortgage from Homebridge starting from December 2020. This company sent me a mail mentioning about setting up automatic payment. I gladly added our family joined saving account but was rejected by them. Therefore I later provided my personal saving account to fulfill the purposed. However on the month of December I was charged twice: 2517.67 dollar deduction from each account. This company's website doesn't provide any efficient online charting help and doesn't take any email communication regarding this matter. Calling them was extremely painful, the longer than usual waiting time and the sudden disconnected line!!

    After going through all these pains multiply times, I managed to talked with their representatives THREE times without solving the issue. 1. The first representative told me I should get refund on one of my account and the autopayment service would be hold until it was settled. Result: new deduction from my automatic payment account on January!! 2. Then second representative told me she didn't know why the automatic payment was not successfully hold and promised me a check was sent out on Dec 21st 2020 and asked me to wait!.

    Results: check never arrived! 3. The third representative after two weeks told me the check was actually sent out on Jan 4th and I should be above to receive it soon! Result: more confusion but with no money returned! Currently it is Jan 16th, I lost all my faith with the company. I hate to pointed out there were LIES!!! Homebridge is holding my 2517.67 dollar for NO REASONS for more than 6 weeks! Homebridge is detaining customer money maliciously!! I am not sure how other customer were treated by them but it is hard to imagine all others are happy with Homebridge.

    17 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 1, 2020

    I wish I could give this company a 0 star review. This company is awful at communication and customer service. When my wife and I bought our house, we had to send in a check because it was too late to sign up for the automatic billing pay feature, which was going to take place the following month. The check was dated for July 1st and we sent the check in late June. We called and spoke to an associate and told them to not cash the check until July, should it come early. We were ensured that it would not be cashed until July. Come to find out they cashed it first chance they got. Because of this, we got over drafted and had to scramble to find money to cover other bills. We also incurred over draft fees.

    When I called to inquire as to why they cashed it they said that it was their policy to cash checks immediately. They also said there were no notes in our file dealing with waiting to cash the check. We were told our case would be escalated to a supervisor and we have never been contacted since. It has been months since this happened and I have been emailing them constantly in order to get to the bottom of this. It is the same run around. They say they'll escalate it and it just falls flat. I just want what is rightfully mine. I want them to hold themselves accountable and to fix their communication issues so that others don't run into these issues in the future. It seems they care more about money than they do about customers and keeping their word.

    At this point I will not be recommending this company and will be researching new companies with which to do real estate business with. The only good thing about this company is Yolanda **. She is amazing, it's just unfortunate she works for such a horrible company that doesn't seem to care about the customer.

    10 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Oct. 12, 2020

    I have had my mortgage with Homebridge Financial since 8/2019. I have made my payments on time, including during an initial forbearance period from March to July of this year. My husband's job fell on hard times and I extended the forbearance from August to October. I have utilized the forbearance plan from August to October and will start my repayment process beginning November 1st. I called to set up my repayment options and they informed me that they are selling my mortgage to a company that, according to reviews is horrible. So if you are not a perfect person, with no issues, then feel free to use this mortgage company. If your human, with Covid loss, job loss or have fallen on hard times please search elsewhere. This company does not care about their homeowners, and surely will not care about you!

    8 people found this review helpful
    Customer increased Rating by 2 stars!
    Verified Reviewer
    Original review: Aug. 27, 2020

    I am also a veteran and see other veterans feeling hurt by Homebridge as well. I have been with quite a few mortgage companies since I have owned 4 houses in my life, I could always talk to every department, they were accommodating and never screwed up my escrow. Homebridge mortgage, has screwed up my escrow somehow it seems like if not all the time every other year. This year took the cake though, I could not talk to anyone, was hung up on and finally when a representative talked to me they shouted when they were wrong about having to pay property taxes, they have already been paid this year. My county has now informed them twice, and they're still charging me for it and when the check gets sent back to them I worry they will do nothing to make sure that money is back in my account. Because of the many escrow screw ups my payment goes up and up. It's almost as though it's on purpose at this point.

    I am hurt at the treatment, the lack of empathy and professionalism. I might have to look at other mortgage companies, I have never had any other mortgage company seem so incompetent. If you are a veteran like myself, this company does not care if you fought for them, I'm actually not even sure why departments won't talk directly to their own customers. It's been an escrow problem but the reps tell me they can't even talk to them???? What, how can anything be fixed. I feel lost at this point. Thanks Homebridge for making a disabled veteran like me have more to worry about.

    Homebridge Financial Services response

    Hi Jesse, I apologize that you are having repeated challenges with our Servicing Department. I have escalated your concerns and a member of our team will reach out to assist you and help to resolve the escrow payment issue.

    We appreciate our veterans and thank you for your service.

    9 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: July 6, 2020

    If I could give a company 0 starts I would. My 2019 taxes were not paid from my escrow and I begin reaching out to them in February when my parish contacted me regarding the nonpayment. They stated that they will send a payment to my parish. Fast forward to the end of May when I received a letter from my parish that my taxes were never paid and that my home would go for tax sale in July. I contacted Homebridge who stated that a check would be sent right away. I contacted my parish after a week so see if they received the check.... They stated that they did not. I contacted Homebridge and the representative stated that he did not see where a payment was sent and would put in another ticket.

    After daily calls to Homebridge (which lasted almost an hour each time) and calls to my parish to see if the payment was received finally after almost a month my parish received the tax payment, however it was for the wrong among and significantly less than what was owed and the parish returned the check. I spoke with Homebridge who stated that a check would be overnighted on June 26th.

    As of today, July 6th my parish still has not received the check and the representative could not confirm if it has been sent. My home goes up for tax sale in a couple of days and unfortunately I may have to come out of pocket for this due to utter incompetence by this mortgage company. The representatives only provide you information to get you off the phone, the supervisors are no better, every time I call there is different narrative regarding the payment, and quite frankly this is very concerning, especially after holding for over an hour at times to reach customer service. If you can please avoid this mortgage company.

    12 people found this review helpful
    Rated with 3 stars
    Verified Reviewer
    Original review: June 2, 2020

    Getting the mortgage was a relatively smooth process. 11/2 years after, I ran into some financial difficulties due to my husband's sudden, unexpected death. I applied for a loan modification. I had a 3 month period during which I had to phone in payments, rather than doing them on the website, which is more convenient. Spending over an hour listening to hold music is not unusual. Who has time for that! Since COVID they have shortened their business hours. After 3 months the modification was granted, and I was told I could resume online payments. But I can't see my mortgage on the website. The Bill's they send me do not reflect the modification. Three days of spending over an hour on hold each time I call to make a payment, and still no answer. I'm beginning to think they do it on purpose so your payment is late!

    12 people found this review helpful
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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. Specific sources for this article include:
    1. Federal Financial Institutions Examination Council, “HMDA Data Publication.” Accessed Aug. 23, 2022.

    Homebridge Financial Services Company Information

    Social media:
    Company Name:
    Homebridge Financial Services, Inc.
    Company Type:
    Private
    Address:
    194 Wood Avenue South, Ninth Floor
    City:
    Iselin
    State/Province:
    NJ
    Postal Code:
    08830
    Country:
    United States
    Website:
    www.homebridge.com