Mission Loans

Mission Loans Reviews

Mission Loans Reviews
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About Mission Loans

Mission Loans (NMLS #210853) is a mortgage lending company that offers a variety of loan options, including VA loans, FHA loans, conventional loans and Family Plus refinance options. It also offers solutions to consolidate your debt or finance home improvements with a home loan. Mission Loans offers online and in-person services, with 17 branch locations across 10 states.

Pros & Cons

  • Physical branches
  • Future discount options
  • Not available in all states
  • No USDA loans

Our editor’s take

Mission Loans offers solid home loan options for buyers wanting a conventional, jumbo, FHA or VA loan. One thing that makes Mission Loans stand out is its Family Plus loan option — once you buy a home with Mission Loans, you will be able to refinance with Mission Loans in the future and the company will waive your origination fee.

If you are in the market for a USDA loan, Mission Loans is not a good choice for you since it does not offer it. We also wish the company was more tech-forward and had online rates and applications available.

Mission Loans rates

Mission Loans offers mortgage products with fixed or adjustable rates, but it does not currently post its starting rates online. If you call the company, you can receive the current rates and even get pre-qualified.

Application process

When you are ready to shop for rates or apply for a loan, you can contact Mission Loans via email, through the online contact form or over the phone. To start the loan process, you will need to have the following documents on hand: bank statements for the last 30 days, tax returns for the last year, your Social Security number, a government-issued ID and paystubs.

Mission Loans application features

Loan types

Mission Loans offers the following loan products in both fixed and adjustable-rate terms. Jumbo loans, or loans that are higher than the conventional loan limits, are also available.

  • Conventional loans: Borrowers will need a credit score of 620 to qualify for a conventional loan with Mission Loans. While you can put as little as 3% down on your conventional loan, you will need to pay private mortgage insurance (PMI) if you put less than 20% down.
  • FHA loans: For borrowers who don’t meet the requirements of a conventional loan, an FHA loan allows you to qualify for a home purchase with a 580 credit score or higher and a 3.5% down payment.
  • VA loans: For eligible military members or their spouses, a VA loan allows you to purchase a home with 0% down. While there is no set credit score for VA loans, Mission Loans recommends having a low- to mid-600 credit score.

Mission Loans also offers unique buying options, such as the Native American Direct Loan Program, which gives Native American veterans access to federal land.


Mission Loans can also help you refinance your existing loan. If you bought your home with Mission Loans, your origination fees will be waived with a future refinance through its Family Plus option. Family Plus is available for conventional, VA and FHA refinances, but not home equity lines of credit (HELOCs).

Additionally, you will still have to pay for any underwriting or third-party fees associated with refinancing.


Each loan type comes with its own set of requirements. Mission Loans requirements are in line with the national mortgage requirements.

It does mention that those applying for a VA loan should expect a credit score in the 600s or higher. VA loans also require a certificate of eligibility (COE).

National mortgage requirements by type

Costs and fees

Mission Loans does not list its fees on its website. However, it does say potential buyers should be prepared to pay between 2% and 6% of the purchase price, as well as any mortgage insurance premiums that might apply.

You can also expect to pay a higher interest rate on a conventional loan if you pay a lower down payment.

How does Mission Loans compare?

Compared with some of its competitors, Mission Loans does not offer the convenience perks of online applications and an app. Many lenders like Rocket Mortgage allow buyers to do the whole mortgage process online and even offer an app to help you manage your monthly mortgage payments.

It is hard to say if Mission Loans has lower or higher interest rates than its competitors since there are no rates published online.

Mission Loans FAQ

What is Mission Loans?

Mission Loans is a mortgage lender that provides conventional, VA and FHA loan options. It caters to a diverse range of clients, including first-time homebuyers, veterans and real estate investors.

How does Mission Loans work?

When you are ready to shop rates or apply for a mortgage loan with Mission Loans, you can email or call the company. Mission Loans will work with you over the phone and through email to complete the loan application.

Where is Mission Loans available?

Mission Loans is available in all states (and Washington, D.C.) except Hawaii, New York, Rhode Island and Utah. It has 17 branch locations in 10 states, though it is not clear if these branches accept in-person mortgage applications.

Is Mission Loans legit?

Mission Loans is a legitimate mortgage company whose founders have over two decades of experience. It does business under the following names: Residential Bancorp, RESBAN and N2 Funding. It is also an FHA-approved lender.

Mission Loans Reviews

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    How do I know I can trust these reviews about Mission Loans?
    • 4,476,910 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.
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    Customer ServiceLoan Process

    Reviewed Dec. 7, 2023

    After receiving a "pre-approval" for a loan request, being in a desperate position I filled out an application online. My banking information would not go through the system they used for some reason so Mission Loans contacted me by phone. After assuring and updating my information they needed to call my bank on a 3 way call for verification of my account. It was embarrassing enough having to call my bank, but they also kept us on the phone for approximately 15-20 minutes. At the end of all my embarrassment I was denied a loan, this company should absolutely be disgusted with themselves treating people that way in a time of desperation. I would give negative stars if I could.

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      Mission Loans Company Information

      Company Name:
      Mission Loans