Homefinity
AUTHORIZED PARTNER

Homefinity

 4.6/5 (103 ratings)
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Homefinity
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Written by Taylor Sansano
Edited by Jon Bortin

About Homefinity

Homefinity is a mortgage lender with multiple home purchase and refinancing loan options. You’ll work directly with the lender’s loan officers to create a financial plan that works best for you. The company’s loan officers have an average of more than 15 years of experience and can coach you through the homebuying process. The entire loan process can be done online, but you can also visit one of Homefinity’s more than 20 branch offices.

Overall Satisfaction Rating

  • 5 stars
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  • 1 stars

Pros

  • Online, phone and in-person options
  • Conventional, VA and FHA loan options
  • No prepayment penalty
  • Loan origination team available seven days a week

Cons

  • No USDA loans
  • Not available in AZ, CO, NY or NV

Bottom Line

Homefinity is an easy-to-use online mortgage lender with personalized loan options and competitive rates. Customers work directly with licensed loan originators, and the company is backed by Fairway Independent Mortgage Corp., one of the leading lenders in the industry.

What is Homefinity?

Homefinity is an online, direct-to-consumer mortgage lender offering home purchase loans and refinance loans across the United States. It is an online subsidiary of Fairway Independent Mortgage Corporation, which is a large mortgage company with more than 10,000 employees and 690 branch and satellite locations. This means that its services are backed by years of experience and expertise in the industry, which can be a big selling point for those comparing online lenders.

How does Homefinity work?

With Homefinity, customers can choose to either take advantage of its easy online application process or call one of its loan officers to complete an application. Both options will cover a few basic questions about your goals and finances so Homefinity can assess your options. While some online lenders offer rates, terms and approvals all online, Homefinity does not. Instead, it combines the ease of online applications with the helpfulness of a real loan officer.

Its loan professionals use the information you provide in your online or phone application to compile a list of home loan options, helping you figure out which one makes the most sense for your situation. The dedicated loan officer is your point person throughout the process and will walk you through the preapproval process step by step, with the ultimate goal of locking in the most competitive rate available.

As you advance through the homebuying process, your loan officer will help facilitate the closing of your loan. You have the flexibility to choose the day, time and place for closing. Homefinity prioritizes a “humility-first” approach to customer service, with values including creating an amazing experience, providing consistent and honest communication and fostering growth and knowledge.

Homefinity products

  • Conventional loans: Conventional loans are available with either fixed or adjustable rates. Features include down payments as low as 3% and a nothing-out-of-pocket closing cost option.
  • FHA loans: Designed for first-time homebuyers, FHA loans allow down payments as low as 3.5% and offer a no-closing-cost option. They also let you make a down payment with gift money.
  • VA loans: VA loans are available for current or former service members and their families. VA loans have more flexible requirements for both credit scores and debt-to-income ratios than other loans. You can get a VA loan without a down payment or mortgage insurance.
  • Physician loans: Homefinity’s physician loans are designed specifically for doctors and medical professionals. Features include low down payment requirements, no private mortgage insurance and flexible DTI requirements. Finance up to 95% of a home’s value (up to $1 million).
  • Refinancing: Rate-and-term and cash-out refinancing are available. Closing costs are usually between 2% and 6% of the loan amount, depending on the situation.

Homefinity mortgage rates

Homefinity doesn’t publish rates anywhere on its site, though it does have information about Treasury rates and a news feed about the mortgage industry. In order to see rate options, you'll have to apply on the site and wait for a loan officer to reach out to you with more information. You can also call to speak with a loan officer.

Homefinity FAQ

What types of mortgages does Homefinity offer?

Homefinity offers conventional loans, VA loans, FHA loans and loans designed specifically for physicians. Customers can also refinance their home loans through Homefinity.

Where is Homefinity located?

Homefinity is based in Madison, Wisconsin.

What interest rates does Homefinity have?

Homefinity doesn’t publish rates on its website. You can apply to see your specific offer and rates, or you can try calling to ask about general rates.

What does my credit score need to be for Homefinity?

Homefinity doesn’t specifically state what its minimum credits score is, though it does say that most lenders require a minimum score of at least 580 and that more options are available if you have a score of at least 620. A loan officer can walk you through low-credit options.

Is Homefinity legit?

Homefinity is a legitimate option for online mortgage lending. The company assigns customers a dedicated loan officer to provide service and support throughout the process. Its loans are available throughout the U.S. for purchasing a home or refinancing an existing mortgage. With its specialized physician loans, the company may be especially useful for medical professionals.

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Page 1 Reviews 0 - 5
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: April 22, 2022

We liked Homefinity's rate and the rep that we spoke to. My experience was fast, easy, and straightforward. The only thing that I didn't really like was that I had asked the rep if the title was gonna stay the same. I had told her that I want it to stay the same, and it didn’t. She just said that that's not her department. She sent me an email saying that everything should be the same. There shouldn't be any issues. She's gonna let them know. Then when I told her, “Well, it’s not the same,” she was like, “Oh, you’d still get that fixed with somebody.”

Other than that, they were pretty quick on sending us and getting us everything. I sent my rep text messages or email and then I even called her. And sometimes, she wouldn’t answer. She was just saying she was with somebody else, and then she'll get back to me as soon as she could. She would have the majority of the answers. If not, then the other person would answer my question. Homefinity is on top of everything.

Homefinity response

Thanks for your review! We are happy to discuss any questions regarding title work also. We'll send you a private message.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 30, 2022

    I really enjoyed working with Homefinity. All kinds of things happened during the experience, but we've resulted in closing well before I thought we'd ever close. My mortgage broker got sick, and he had somebody important in his chain just leave, virtually without any notice. It went pretty swimmingly all the way through. The rep, Bill, did an absolutely terrific job of communicating where we were in every step. We didn't feel lost or this thing was gonna get hugely delayed. He did a great job of keeping it all together, and we closed on time. The explanation of why certain things were needed, why things would make, from their experience, the process easier, was invaluable.

    I remarked to my wife, “This is about the time as you get older.” You have a lot of mortgage companies. I thought this was the smoothest close that we've ever had in our lifetime. Homefinity did a perfect job. I feel good about the process online. I don't have the best equipment at home. There were some ways that if I had better equipment and in better working order, I would have done a lot better, but once we got our groove of uploading the documents into the system and realizing which set of documents were signed and rescanned, we caught on and it was not a big deal. Personally, whatever we can do online to make the process happen, it should go that direction.

    I had a little depressing time frame though. I would have been happy if we closed within three months, given a low interest rate and extreme demand. I trade stocks for a living, and I also used to be in the credit collection business most of my life, so I realized sometimes how difficult it is for these alternative jobs and entrepreneurs to capture their information and to make sound credit decisions. Sometimes, it's not easy, so I thought that was handled extremely well, and not everybody handles that well. I have some friends that are moving out to Oklahoma City, and I said, “Hey, if you want a really great mortgage broker, Homefinity is your way to go.” If you trust it with your friends and family, it's a good thing.

    Homefinity response

    Thank you for the review! There are always a million moving parts during any loan process, but we strive to keep everything seamless and on track!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 24, 2022

    I liked the ease of the online process with Homefinity as well as the availability of understanding the rates and costs upfront without having to go through a whole bunch of pre-application stuff where you're basically applying before knowing the rates. I did a refinance and they had a straightforward application process. Between the conversation and what we did online, there were a minimal amount of steps and there was a fairly self-explanatory website to use. The online process was painless. The information that was being asked for made sense. The information was quick and the communication was swift.

    I worked with Mario and Tiffany and they were both very good. There was also another guy and I liked the fact that he was very available and so was Tiffany. They were easy to get onto the phone if I needed to. They were quick to respond on email when I was traveling. It was an easy and comfortable process. It was just an efficient process. These days, dealing with any company always seems to take twice as long as it should. No one seems to have the phones well-staffed, or email is just generic. But the Homefinity, I was dealing with people who knew what was going on and gave me quick answers.

    There was a little communication issue with the title company. Once I raised the issue with Homefinity, the title company was quick to respond and have people reach out to me and clarify why things were done the way they were done. It was just a little confusing. The money took a little while to come to me. But that was just an understanding of closing out a HELOC process that the title company could have been better at. Other than that, it was all good.

    Homefinity response

    Thanks for your review, and glad everything was smooth! We'll definitely use the feedback to help the title company improve as well!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 27, 2022

    The communication with Homefinity was great. Cindy and JT were excellent. We ran into some glitches, which were not even kind of in their control. Immediately, my note to my home was sold in the midst of the process from my current lender. So, it transferred ownership. We had to get that straightened. My lender is no longer my lender. So, they had no control over that but that was weird that that happened right in the month that I have to be refinancing. Homefinity's branch processor contacted me. That threw things off. I found myself kind of resubmitting stuff I had already submitted. But everything was explained and I thought they did a wonderful job, and I would definitely go through them again or even recommend Homefinity.

    I was happy with the rate, and the terms were wonderful. They were able to offer me some things that other lenders were not able to offer me. It just made it even that much more simplistic for me. Both Cindy and JT were very responsive. Whenever I called JT, he would answer the phone and we would be able to discuss whatever concerns. He's able to answer any concerns that I had or find out what was going on, which happened with one of the delays with the documents signing.

    Homefinity response

    Hi Erik, we appreciate the review! Yes, sometimes things like that happen mid-process. We just adapt and keep rolling right along!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 16, 2022

    Dan from Homefinity was so helpful. He gave me a lot of feedback on our very first call. As we progressed, he even helped me on a Sunday to submit stuff because I work Monday through Friday. He walked me through the application process and things that I needed to submit. I had a refinance and the process was simple. You just need to be computer-savvy to be able to do it. Dan walked me through a couple of things because I don't have a home computer, I have a tablet. So, uploading and saving to put on a secure portal was logistically hard for me. I had to go out and buy an ethernet cable and dust off a computer I haven't used in three years to make all that happen. That was a challenge.

    But as far as anytime something would show up, I got an email, I went out to the portal, it said, "This is what you need," I got it submitted. Everything I was told along the way was true. It was never a "Gotcha" moment. There was also an interest in helping me. It was also so much cheaper for us to borrow the money from Homefinity than it was to take it from our own bank accounts or 401ks. They put us in a whole new tax bracket to do that and there were penalties with early withdrawals from your 401ks.

    Homefinity response

    Thank you for your business and review!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 2, 2022

    The application process with Homefinity was very easy and the rep I talked to was very good. It was probably the best mortgage experience I've had out of all the mortgages. I’m overwhelmingly satisfied.

    Homefinity response

    Thank you so much for your business! We're always striving to improve and ensure our process is easy!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 18, 2022

    I was out of town when I started the process and it took just over a month by the time we were closed. Everything was super easy and John and his team were very helpful throughout the whole ordeal. He was honest, upfront, and very quick with his responses. He was very respectful with all of the requests and I didn't feel rushed.

    Homefinity response

    Thank you for your review, and congratulations on your purchase!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 3, 2022

    I got a response right away from a loan officer, then Homefinity had multiple people contact me throughout the process. Everything went pretty well. We had to have an appraisal done, and we had two weeks to prepare for that. Once the appraisal was done, the process was within days. The paperwork was in the works to be signed and the new rate and terms were very competitive. The rates have gone up a little this spring, so I expected it to be a little higher than what we had dealt with in the past, but there wasn't anything unusual about it. It was just the straight rate based on our credit. Overall, I've had four refinance experiences in the past and this was the best one, the smoothest, and the most transparent. They were very open about everything that was going on.

    Homefinity response

    This is great! We'll always give the very best deal we can. If rates do drop significantly, let's connect and see if we can save you some more money!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 28, 2022

    Working with their rep was excellent. The process was very smooth and streamlined. It was the best experience ever. The rate I got was pretty competitive.

    Homefinity response

    This is great to hear, thanks for your feedback!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 19, 2022

    I'm 81 and I was astonished that I was accepted by Homefinity. To take a 30-year mortgage is optimistic, to say the least. All three of the reps I interacted with couldn't have been better. At my age, I'm very anxious about everything so, I bothered Don constantly and he was always gracious. He answered all my questions as the process moved along. It was complicated for someone of my age because I had to produce 21 PDFs of documentation and they walked me through that process when I had problems with it. A lot of people become quickly annoyed with the elderly and they express that in their tone and in their attitudes but they never did.

    Also, Don sent me a couple of emails when the process was all finished just to say that he hoped that everything had gone well and that if I had any questions in the future, I was welcome to contact him. He's a great guy and Homefinity has been an absolute blessing to me. My budget now is easy to calculate and I have so much more cash available to me.

    Homefinity response

    Thank you for your business!

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    Homefinity Company Information

    Company Name:
    Homefinity
    Website:
    homefinity.com