Lennar Mortgage Reviews
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About Lennar Mortgage
This profile has not been claimed by the company. See reviews below to learn more or submit your own review.
Lennar Mortgage (NMLS #1058) is a subsidiary of Lennar Corp., which is a real estate and financial services company. It provides conventional, jumbo and government-backed loans. The company’s digital mortgage tool can help you get prequalified, but this will involve a hard credit check. Lennar Mortgage is licensed in 30 states, and it has more than 57 branches.
- Wide range of home loans
- Online application process
- Online calculators and resources
- Not transparent about rates or fees
- Not available in every state
- Prequalification requires a hard credit check
Lennar Mortgage rates
Lennar Mortgage isn’t transparent about its current interest rates as it doesn’t list its rates on its website. You’ll need to complete the company’s prequalification process to learn what your rates might be if you officially apply.
Lennar Mortgage loan types
Lennar Mortgage originates a variety of mortgage loans, including conventional, jumbo and government-backed loans. Its government-backed loans include Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) loans.
With a conventional mortgage, you can choose between loans with fixed rates and loans with adjustable rates, known as adjustable-rate mortgages (ARMs). Fixed-rate mortgages come with the same monthly payment for the life of the loan, while ARMs typically have a lower fixed introductory rate that will periodically change after the introductory period is over.
Lennar also offers rate, term and cash-out refinance options.
Lennar Mortgage application process
With Lennar Mortgage's digital mortgage application process, you can start an application from any device. Whether you choose to get prequalified first or apply, you’ll need to first create an account. You’ll then fill out the online application, and you can connect your bank accounts and tax information to avoid paperwork.
You’ll also have access to customer support online, over the phone and in person. This can be helpful in case any questions come up during the online process or if you just prefer to work with a real person. Once you’ve completed the application, its team will review your information and let you know what types of loans you may qualify for.
Lennar Mortgage application process features
The table below shows some of Lennar Mortgage’s application process features:
| Feature | Availability |
|---|---|
| Online application | |
| Mobile document upload | |
| Publishes rates online | |
| Offers rate lock | Up to 270 days |
| Offers prequalification | |
| Certified approval letter | Not disclosed |
| State availabiity | 30 |
| Number of physical branches | 57+ |
Lennar Mortgage requirements
Lennar Mortgage doesn’t outline its specific requirements for each type of home loan. In general, most conventional loans require at least 3% down and a credit score of at least 620. If your credit score is lower, you may want to consider another type of loan. For example, FHA loans require either a 500 or 580 minimum credit score, though most lenders require at least 580 for FHA loans.
Typical mortgage requirements by loan type
The table below shows typical mortgage requirements by loan type.
| Loan type | Minimum credit score | Minimum down payment | Compare with other lenders |
|---|---|---|---|
| Conventional | Typically 620 | Typically 3% | Mortgage lenders |
| FHA | 500 or 580 | 3.5% or 10% | FHA lenders |
| VA | Set by lender, typically 580 or 620 | 0% | VA lenders |
| USDA | Set by lender, typically 620 | 0% | USDA lenders |
» RELATED: Best jumbo loan lenders
Lennar Mortgage cost and fees
Lennar Mortgage doesn’t disclose its fees online. However, you’ll need to pay closing costs, which typically range between 2% and 5% of your loan amount. These costs may include loan origination fees, homeowners insurance, private mortgage insurance (PMI), appraisal fees and recording fees, among others. Note that, after the closing process is complete, Lennar sells its mortgages, typically to major banks.
To help offset some costs, Lennar Mortgage provides down payment assistance (DPA) options, including grants and second mortgages. Most DPA programs are for first-time homebuyers and have more flexible qualifying criteria.
FAQ
Is Lennar Mortgage legit?
Lennar Mortgage is a legitimate company. It has been in business since 1973, and it’s registered with the Nationwide Multistate Licensing System (NMLS).
Where is Lennar Mortgage available?
Lennar Mortgage is licensed in 30 states, and it has more than 57 branch locations.
- Alabama
- Arizona
- Arkansas
- California
- Colorado
- Delaware
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Kansas
- Maryland
- Minnesota
- Missouri
- Nevada
- New Jersey
- New York
- North Carolina
- Oklahoma
- Oregon
- Pennsylvania
- South Carolina
- Tennessee
- Texas
- Utah
- Virginia
- Washington
- West Virginia
- Wisconsin
What is the interest rate for Lennar Mortgage?
Lennar Mortgage doesn’t disclose its interest rates online. It states on its website that its rates will vary based on the loan program, the applicant’s credit profile and the housing market. The best way to get an idea of its current rates is to get prequalified, though keep in mind that this involves a hard credit check, which will temporarily lower your credit score.
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Lennar Mortgage Company Information
- Company Name:
- Lennar Mortgage
- Website:
- www.lennarmortgage.com




