Freedom Mortgage Reviews

Formerly J.G. Wentworth Home Lending

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About Freedom Mortgage

Freedom Mortgage (NMLS #2767) is a full-service mortgage lender that offers home purchase and refinance loans. The company provides both conventional loans and government-backed loans, including FHA, VA and USDA loans. It lends across all 50 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Freedom Mortgage has been in business for more than 30 years and is based in Boca Raton, Florida.

Pros
  • Specializes in FHA and VA loans
  • Rate and closing guarantees
Cons
  • No construction or home equity loans

Freedom Mortgage details

Rates
For the most accurate and current rates, contact Freedom Mortgage for a customized quote online. The company provides quotes in less than five minutes with a soft credit check that has no impact on your credit score.

Freedom Mortgage offers home loans with both fixed and adjustable rates. Borrowers are more likely to seek adjustable-rate mortgages (ARMs) when rates are higher because of the initial fixed-rate period, which tends to start at a lower rate. An ARM also may make sense if you plan to sell your house before the fixed-rate period ends.

Freedom Mortgage’s purchase loan rates have remained fairly close to the national average over the past few years. In both 2020 (-0.07%) and 2021 (-0.17%), its average rates were slightly lower than the U.S. average; in 2019, its average was slightly higher (0.04%).

Freedom Mortgage average home purchase rate vs. national average

YearDifference from national average
2021-0.17%
2020-0.07%
2019+0.04%

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

Mortgage rates change frequently and vary based on economic conditions, your credit history, the length of the mortgage term and the mortgage type. Your annual percentage rate (APR) and interest rate may be different — the APR reflects your interest rate plus points, fees and other charges from your lender.

Application process
You can view your mortgage rates and get pre-qualified with Freedom Mortgage without a hard credit check. The company also offers an online application. Be prepared to provide information about your income and assets; Freedom Mortgage uses these details to determine how much you can borrow.

Freedom Mortgage services most of the loans it originates, so it’s likely you’ll work with the company from your application all the way until your loan is paid off or you decide to sell.

Freedom Mortgage application features

FeaturesAvailability
Online applicationAvailable
Mobile document uploadAvailable
Physical branchesX
Publishes minimum rate on websiteX
Rate lock90 days
Pre-qualification (no hard credit pull)Available
Certified approval letterAvailable
Loan types
Freedom Mortgage offers several mortgage products, including conventional loans (fixed and adjustable-rate) and jumbo loans for those who need to borrow beyond the conforming loan limits set by Fannie Mae and Freddie Mac. You can also refinance your existing home loan with Freedom Mortgage, whether you’re aiming to cash out or get a lower interest rate.

In terms of home purchase loans, Freedom Mortgage originated 22,332 mortgages in 2021. This is only about 33% of the total home purchase loans initiated by potential buyers. Still, only 1,568 (2%) of the total home purchase applications that year were denied — and the company didn’t deny any preapprovals for its borrowers.

Loan applications for home purchases only by year

202120202019
Home purchase applications67,10762,89380,487
Home purchase loans closed22,33222,21725,973
Home purchase applications denied1,5681,8312,532
Home purchase preapprovals denied04377

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

Refinancing

The vast majority of the loans Freedom Mortgage financed in 2021 were refinance loans rather than purchase loans. The company leans more toward refinancing than the industry as a whole, though refis were a popular option nationwide in 2020 and 2021 due to low rates.

In 2020 and 2021, only about 6% of loans Freedom Mortgage originated were home purchase loans — the previous year, before rates fell, almost a quarter (23.67%) of its mortgages were for home purchase.

Home purchase vs. refinance loans by year

202120202019
Home purchase loans6.19%5.71%23.67%
Refinance loans87.83%91.82%57.28%
Cash-out refinance5.97%2.47%19.05%

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

Requirements
Both conventional and government-backed loans have their own sets of borrower requirements, and Freedom Mortgage seems to adhere to the industry norms for these qualifications. Typically, conventional loans require a higher credit score and down payment than you need for a government-backed mortgage.

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
USDA Set by lender (often 640)0%USDA lenders
Cost and fees
Freedom Mortgage charges origination fees, but these fees can vary. You can expect to pay between 0.5% and 1% of the loan amount in origination charges as part of the closing costs.

Freedom Mortgage does offer guarantees for on-time closings and competitive rates. The “commitment to close on time” promises borrowers $1,000 if their loan doesn’t close by a set date. Freedom Mortgage will also match another competitor’s rate or give the borrower $250. The company discounts closing costs by $250 as part of its “commitment to value.”

Featured Reviews

Birmingham, AL
Verified purchase
Freedom Mortgage did a wonderful job with our home refinance. They walked us through the entire process. We feel like they were working on our behalf. ... They were prompt to answ...

Read more

Roseburg, OR
Verified purchase
Lenders are knowledgeable. Always willing to work with you. Always watching out for mortgage rate drops that will save you money. Fast closing on new or refinance loans. For your ...

Read more

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Freedom Mortgage Reviews

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    How do I know I can trust these reviews about Freedom Mortgage?
    • 4,663,794 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Punctuality & SpeedLoan Process

    Reviewed May 9, 2025

    Worst processor I have ever used. They tell me I am on auto payment then auto payment does not come out and then they put a late mortgage in my credit history now I cant close on a building I am under contract on. I am going to refinance the loan just to get these services off of my loan. Worst experience I have ever had with a company.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed May 7, 2025

    This is a horrible company. I wish they never had purchased my loan from my other lender. They're constantly playing games with rates and even agreed to a va irrrl loan at a % to keep me from signing with a other lender. Once they sent an email accepting a 5% rate on a irrelevant loan and I agreed, the agent ghosted me (wouldn't answer his direct line or email back). Apparently higher agreed to the rate and he sent out the email and then they changed there mind. And continued to ignore me for months untill no offers were left and rates went back up. I 100% belive this was done intentionally by them with nefarious intent the whole way. I cannot express enough caution and warning to you. Do not get into bed with this company and if you're like me and find yourself in their care without your consent or desire, do everything you can to sign with someone else and have the loan transferred.

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      Customer ServicePunctuality & Speed

      Reviewed April 30, 2025

      The worst mortgage company ever! Puts late fees on my account when I pay them on time and they don’t remove it when you call even when you have proof from your bank!! Always trying to sell you things. Worst customer service ever!!! I will report them to the attorney general. If I could negative stars - I would give them an infinite amount of negative stars! Worst company ever!

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      Customer ServiceStaff

      Reviewed April 11, 2025

      If I had a choice, I would make sure my mortgage was never serviced/sold to these unscrupulous people. Without ample notice, they switched my payment to the first of the month (used to be last of the month) and tried to make us pay for two mortgage payments in two days. When I called to see what the issue was (like why am I paying for two mortgage payments in less than 2 days apart) the customer service people acted like they didn't understand my language... seriously. Then they reported I was delinquent to the credit bureau even though I was paid up (never over 15 days) and never sent a letter that we were delinquent on any payment. I am in the process of filing a complaint with the authorities to investigate this evil company and their unethical business practices.

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      Customer ServiceStaffTransparency

      Reviewed March 12, 2025

      I am 71 years old and never have I had so many problems with any mortgage company that I have had with Freedom Mortgage. When calling if you get through to a live person you can't take what they tell you is true because you get a letter or statement in the mail that doesn't match what you were told on the phone. When you call back to talk to n account specialist you are put on hold for anywhere from 40 min to well over an hour, it's happened to me more than a couple of times. My advice would to stay clear of them and pay a bit more in interest to someone who has their system up to date as to what they say on the phone.

      The escrow accounting is something else, I had to close my account because they couldn't add up what went into it, and what came out of it and end up with a correct amount, cost me $161.42 just to close my account. I could go on but I think you get the idea, I have never experienced anything like it and would highly recommend using anyone else. Thank You.

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      Customer ServiceStaffTransparency

      Reviewed March 1, 2025

      My experience with Freedom Mortgage has been frustrating due to misleading information, lack of transparency, and poor customer service. I escalated my concerns to the Texas SML, which prompted a response from Freedom Mortgage’s Senior VP of Customer Service, Roseanne **, who assured me that a specialist would reach out to resolve my concerns. No one ever followed up.

      Beyond that, I was given incorrect information about the amount needed for PMI removal, denied escrow removal based on undisclosed requirements, and repeatedly met with delays and incomplete responses—even when I asked for basic documents like the Automated Valuation Model (AVM). Each step felt like an attempt to keep me locked into paying PMI longer than necessary. Even after escalating my concerns to senior leadership, including the CEO, Freedom Mortgage failed to take any meaningful action. I would not recommend this company based on my experience.

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      Customer ServicePunctuality & Speed

      Reviewed Feb. 19, 2025

      Last year without my consent or knowledge my mortgage loan from ARC Loan company got transferred to Freedom Mortgage. I never had any issues with any mortgage company nor I was ever being late in my payments, but every time I receive email or text that my account is due, upon calling I find out it was an error at their end. I am disgusted with this company and looking a way to get out from this mortgage company, it seems like they have no customer policy or like to treat their customer. I never had any issues with any mortgage company. I will advise people not to choose this mortgage company for their home loan or mortgage, not a good company to work with.

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      Customer ServicePunctuality & SpeedLoan Process

      Reviewed Jan. 22, 2025

      My mortgage was transferred to this company in 2017, I sold my home in 2020, and working with FM was a nightmare. I was never able to get anyone over the phone to help me. Unfortunately after my home sold they destroyed my credit by putting lates on my credit reports, even after admitting they were the cause of the paperwork being late. My suggestion is that anyone considering this mortgage take a second look at other lenders that are ethical in lending. No one should be treated badly with unethical loan practices when it comes to home loans. This is the American dream and this company almost ruined it for me. Due to privacy will not upload receipts.

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      Staff

      Reviewed Dec. 31, 2024

      I have been w/ them for over 12 yrs and VERY disappointed at the handling of issues their customers have. Less than acceptable-their representatives lie and are not forthcoming with knowing policy or procedures.

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      Staff

      Reviewed Dec. 19, 2024

      My house caught on fire. Insurance issued payment for repairs but Freedom has refused to release funds for repair. Each time I speak with a representative, I informed of more paperwork or things I need to accomplish. Do not do business with this company.

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      Sources
      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, “ HMDA Data Publication .” Accessed June 27, 2022.

      Freedom Mortgage Company Information

      Company Name:
      Freedom Mortgage
      Address:
      951 Yamato Road
      City:
      Boca Raton
      State/Province:
      FL
      Postal Code:
      33431
      Country:
      United States
      Website:
      www.freedommortgage.com