Homebridge Financial Services Mortgage Review 2023

Homebridge at a glance

Lender rating: 3	Minimum credit score: Not published   Minimum down payment: 0% to 3.5%   Available loan products and programs: Conventional, FHA, VA, USDA, jumbo, reverse, HELOC, non-QM, renovation, construction, down payment assistance

Homebridge Financial Services, Inc. (Homebridge) is a privately held non-bank mortgage lending firm headquartered in Iselin, N.J. Homebridge is licensed to originate mortgages in 50 states including the District of Columbia.

Homebridge mortgage products

Conventional

Homebridge offers standard conventional loan programs with rules set by Fannie Mae and Freddie Mac.

Available programs include:

• Loans with down payments as low as 3%
• No-mortgage-insurance loans with a 20% down payment
• Fixed-rate conventional refinance loans to replace your current mortgage with a new one to save money monthly
• Cash-out refinance loans to tap extra equity to pay off debt
• Refinance loans to shorten the time it takes to pay it off faster
• Loans for second homes and investment properties.

FHA

Homebuyers may qualify for loans backed by the Federal Housing Administration (FHA). Homebridge FHA loan features include:

• Loans with down payments as low as 3.5% and flexible qualifying requirements.
• Flexibility to add parents or other relatives as co-borrowers to help you qualify, even if they don’t plan to live in the home you’re buying.

Homeowners with a current FHA loan may be able to save money or pocket extra cash with the following refinance programs:

• FHA streamline refinance loans offer a quick way for customers with a current FHA loan to save money without the income paperwork hassle.
• FHA cash-out refinance mortgages provide borrowers with spotty credit an opportunity to access extra cash to pay off debt or fix up their home.

VA

Homebridge offers loans guaranteed by the U.S. Department of Veterans Affairs (VA) to eligible military borrowers and their spouses with the following features.

• No down payment is typically required.
• You won’t pay mortgage insurance regardless of your down payment.

Homebridge also offers the following VA refinance program:

• VA interest rate reduction refinance loan (IRRRL). Homeowners with a current VA mortgage loan won’t need an appraisal or income documents in most cases.

Home equity

Homeowners with enough equity may qualify for a Homebridge home equity line of credit (HELOC). A HELOC is like a credit card secured by your home, allowing you to borrow as much as you need and pay it off. Since you don’t receive all the money at once, your payment is only based on how much credit you use.

Jumbo

If you’re buying a home and need a loan above the conforming loan limits in your area, Homebridge offers jumbo loans to help you finance primary, second and investment homes.

Special programs

USDA

If you’re buying in a rural area and meet the low- to moderate-income requirements, you may want to check out Homebridge’s USDA loan option. Backed by the U.S. Department of Agriculture (USDA), these loans don’t require a down payment.

If you own a home with a current USDA loan, Homebridge also offers the USDA rural streamline refinance loan, which doesn’t require income or appraisal documents.

Renovation loans

You may qualify for a Homebridge renovation loan which allows you to buy and fix up a home with just one loan. They also offer the FHA 203(k) renovation loan if you want to fix up your current home and roll the costs into your mortgage.

Construction to Perm

If you’re looking to build your home, Homebridge’s construction loan program allows you to include the cost of the lot, construction and mortgage loan. You’ll make interest-only

payments while the home’s being built and the loan will convert to the permanent loan when the home’s finished, so you’ll only pay one set of closing costs.

Non-QM loans

Homebridge offers a variety of non-QM (non-qualified mortgage) products for borrowers who don’t qualify for standard loan programs. Programs include:

• Bank statement programs for self-employed borrowers to qualify based on deposits into their personal business banking accounts
• Asset qualifier products for borrowers that allows high-net worth borrowers to qualify for a mortgage by converting the value of their assets into income
• Investor cash-flow loans for real estate investors who can qualify based on the rental income of an investment home they are buying
• 1099 loans for contract employers to use just their 1099 form to qualify, rather than tax returns which are required on standard loan programs

Special affordable lending loans

Lower-income borrowers or aspiring homebuyers with financial bumps in their history may be eligible for Homebridge’s low down payment, down payment assistance and bond programs.

Homebridge mortgage rates and fees

Homebridge does not publish mortgage rate information online, although it does provide articles about the direction of current interest rates. Although there is no online information about Homebridge fees, the site does indicate that closing costs can range from 2% to 5% of the loan, including property taxes, mortgage insurance and other expenses.

Homebridge application experience

You can use the “Let’s Get Started” button to answer basic questions about the mortgage you’re searching for, but there is not a link for a full application. There also doesn’t appear to be an online portal to upload documents, although there are helpful videos about the mortgage process.

There is also a search button to find a Homebridge loan officer in your area by inputting your city, state or zip code. Current Homebridge customers can get assistance with a loan in process by emailing the lender at the address on their website.

Homebridge customer service experience

After closing, Homebridge customers can call 844-478-2622 toll-free or go to the company’s servicing website to ask questions about their current mortgage. The corporate headquarter numbers are:

• Direct: 732-738-7100
• Toll Free: 866-933-6342

The company’s hours of operation are not listed online.

How does Homebridge compare to other lenders?

	Homebridge Financial Services	Rocket Mortgage	AmeriSave
Lender rating
Minimum credit score	Not published	580 to 620	600 to 700
Minimum down payment	0% to 3.5%	0% to 3%	0% to 20%
Loan products and programs	Conventional FHA VA USDA Jumbo Reverse HELOC Non-QM Renovation Construction	Conventional FHA VA Jumbo Home equity loans	Conventional FHA VA USDA Jumbo Refinance Cash-out refinance

How we rated Homebridge

LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.

LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.

Homebridge Financial Services scorecard: 3/5

  Publishes rates online

  Offers standard mortgage products

  Includes detailed product info online

  Shares resources about mortgage lending

  Provides an online application