Wyndham Capital Mortgage Reviews

Wyndham Capital Mortgage provides initial rate information online when you click on “Online Rate Quote” and enter details. You can see rates by answering questions about the following:

• Whether you want a purchase or refinance loan
• The type of property securing the loan
• How you plan to use the property
• The property ZIP code (or address if refinancing
• Property value (if refinancing)
• Mortgage balance (if refinancing)
• Your credit score range
• The purchase price
• Your employment status
• Your down payment amount
• Whether you’ve filed for bankruptcy or foreclosure in the past seven years
• Whether you’ve served in the military

When you’re comparing mortgage rates, it’s important to keep in mind the difference between interest rate and APR. (Wyndham Capital shows both.) The interest rate is the cost of borrowing, while the APR includes interest plus other fees associated with the loan, so it better reflects total costs. Both are expressed as annual percentages of the amount borrowed.

Also, note the difference between a fixed- and adjustable-rate mortgage. Because rates have been rising in 2022, we’re likely to see more interest in adjustable-rate mortgages (ARMs), which start with an initial period of a relatively low fixed rate before resetting. When rates are lower, fixed-rate options tend to be the safer way to go — if you start with a low rate, you might not want to risk your rate increasing over time.

In 2021, Wyndham Capital’s average home purchase rate was 0.12% below the national average. Over the past three years, it’s remained close to the average nationally.

Wyndham Capital average home purchase rate vs. national average

Wyndham Capital Mortgage’s application is fully digital. To get the process started on the company’s website, you click “Apply” and start answering questions about whether you want to purchase or refinance, your identity, your assets and other information. You can request an online rate quote first.

As part of the application, you can upload documentation relating to your ID, income and other personal and financial information. If the company has questions, you’ll receive an email or phone call to clarify.

Wyndham Capital Mortgage application features

Wyndham Capital Mortgage offers conventional loans with fixed and adjustable rates ranging from 10 to 30 years. The company offers jumbo loans, FHA loans, VA loans and USDA loans.

In 2021, Wyndham Capital received 3,650 home purchase applications. That year it closed 2,048 purchase loans (56% of applications) and denied 195 (5%) home purchase applications.

Loan applications for home purchases only by year

Refinancing

As rates dropped to historic lows in 2020 and 2021, more borrowers looked to refinance existing loans. Homeowners refinance to get better terms and lower payments or to get cash out of their home equity.

In both 2020 and 2021, a majority of the home loans Wyndham Capital Mortgage made were refinance loans.

Home purchase vs. refinance loans by year

To apply for a mortgage with Wyndham Capital Mortgage, you need:

• Pay stubs covering the past month
• W-2s from the last two years
• Tax returns from the last two years (if you’re self-employed)
• Bank statements from the past two months
• Proof of employment
• Investment statements from the last two months (if you’re using them to qualify)

Wyndham uses this information, your credit and details about the property to determine what loans you qualify for and how much you can borrow.

National mortgage requirements by type

With Wyndham Capital, you pay no “junk lender fees.” The company states it doesn’t charge fees, including application, processing or underwriting fees, as part of closing costs. It does note, however, that you may be third-party fees, like title fees, settlement fees, appraisal fees, taxes and insurance.

After you apply for a loan with Wyndham, it will send you a Loan Estimate form within three business days. This form shows you the total costs associated with the loan; check the form to review the interest rate, estimated monthly payment and estimated cash due at closing.