Mutual of Omaha Mortgage Review 2026
Mutual of Omaha, rated 4/5 stars by LendingTree experts, is a good option for borrowers who prefer a mix of the traditional mortgage experience with access to digital tools.
Mutual of Omaha offers various loan products, including both purchase and refinance loans. It’s a good option for those seeking a primarily traditional mortgage experience while also having access to digital tools.
See how we reached our verdict below.
- Provides conventional and government-backed loans
- Publishes mortgage rates online
- Offers a commission rebate program
- Limited information about mortgage offerings online
- Not available in New York
Mutual of Omaha Mortgage overview
Mutual of Omaha was founded in 1909 and began offering mortgages in 2016. It’s headquartered in Omaha, Nebraska, and provides mortgages in almost every state (except New York).
- Areas of service: 49 states and the District of Columbia
- Digital service: Offers online access and digital tools
- Headquarters: 3300 Mutual of Omaha Plaza, Omaha, NE 68175
- Website: MutualMortgage.com
Mutual of Omaha rates and fees
Rates
Mutual of Omaha publishes its mortgage rates online, making it easy to estimate your monthly payment and total interest charges. Compared to other national banks, Mutual of Omaha’s rates are slightly higher than average, coming in around 0.37 percentage points higher than the average prime offer rate (APOR) in 2024 — the APOR represents the lowest APR a bank is likely to offer a well-qualified buyer in the current market.
Fees
According to data from the Federal Financial Institutions Examination Council (FFIEC), the average total cost of a Mutual of Omaha mortgage in 2024 was $10,160, including an average of $5,618 in origination fees. These costs are higher than the loan costs of some competing lenders — for instance, Rate and Chase Mortgage’s total loan costs averaged $7,574 and $5,080, respectively, in 2024.
You may be able to receive a commission rebate if you buy your home with one of Mutual of Omaha’s “MORE Rewards” agents. Qualifying veterans may be eligible for a larger rebate.
Mutual of Omaha also offers certain perks to its employees, including $1,000 off closing costs and access to discounted mortgage rates.
What types of mortgage loans does Mutual of Omaha offer?
Mutual of Omaha offers a variety of home loans, including:
Mutual of Omaha offers both conventional purchase mortgages and refinance loans.
Conventional loan qualification requirements
- Down payments are typically 5% to 20%
Mutual of Omaha offers loans backed by the Federal Housing Administration (FHA). In addition to purchase loans, Mutual of Omaha offers the FHA Streamline Refinance.
FHA loan qualification requirements
- 500 with a 10% down payment
- 580 with a 3.5% down payment
Mutual of Omaha offers VA loans, which are mortgages guaranteed by the U.S. Department of Veterans Affairs (VA). In addition to purchase loans, Mutual of Omaha offers the VA Interest Rate Reduction Refinance Loan (IRRRL).
VA loan qualification requirements
- Down payments could start as low as 0% for eligible borrowers
Mutual of Omaha offers USDA loans, which are mortgages guaranteed by the U.S. Department of Agriculture (USDA). These loans are designed for homebuyers in rural areas.
VA loan qualification requirements
- Down payments could start as low as 0%
Mutual of Omaha offers both home equity loans and a home equity line of credit.
Home equity loan qualification requirements
- 620 minimum credit score
- At least 15% to 20% home equity
- 43% or lower debt-to-income ratio
Mutual of Omaha mortgage qualifications
| Credit score minimum | Not specified |
| DTI ratio
Debt-to-income (DTI) ratio compares your monthly gross income to your monthly debt payments.
| Not specified |
| Down payment minimum |
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Don’t know your credit score? Get your free score on LendingTree Spring today.
Mutual of Omaha doesn’t disclose the exact minimum mortgage requirements it uses to approve or deny your application. However, data collected under the Home Mortgage Disclosure Act show that in 2024, approved Mutual of Omaha customers had an average loan-to-value (LTV) ratio of about 74%, and about 48% of approved borrowers had a DTI ratio less than 40%.
In that same year, Mutual of Omaha denied about 29% of its mortgage applications. That’s on the high end compared to other lenders.
How does Mutual of Omaha compare to other lenders?
|  |  |
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| LendingTree’s rating |
Expert review from LendingTree.
Back to our Mutual of Omaha summary |
Expert review from LendingTree.
Read our Mutual of Omaha vs. Rate comparison |
Expert review from LendingTree.
Read our Mutual of Omaha vs. Chase comparison |
| Minimum credit score | Not specified | 580 to 700 | Not specified |
| Minimum down payment | 0% to 3.5% | 0% to 10% | 0% to 3.5% |
| Rate spread
Rate spread is the difference between the average prime offer rate (APOR) — the lowest APR a bank is likely to offer any private customer — and the average annual percentage rate (APR) the lender offered to mortgage customers in 2024. The higher the number, the more expensive the loan.
| 0.37% | 0.28% | 0.11% |
| Loan products and programs |
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| Better for: | Homebuyers looking to explore various loan products. | Borrowers looking for an online lender and fast preapproval. | Borrowers who want to visit a branch and explore special loan programs. |
Mutual of Omaha vs. Rate
Mutual of Omaha and Rate offer a similar array of products. The main difference is that Rate functions primarily as an online lender, while Mutual of Omaha takes a more traditional approach. Rate has a slightly lower rate spread than Mutual of Omaha, meaning its rates are, on average, lower than Mutual of Omaha’s.
Mutual of Omaha and Rate have similar nationwide availability, except Rate is also available in New York and Puerto Rico.
Read more in our full Rate mortgage review.
Mutual of Omaha vs. Chase
While both Mutual of Omaha and Chase offer a hybrid traditional and online banking experience, Chase has more physical branches. If you prefer to do things in person, Chase may be a better choice for you. Chase has a lower rate spread than Mutual of Omaha, meaning its rates are, on average, lower than Mutual of Omaha’s.
Mutual of Omaha and Chase have similar nationwide availability, except Chase is also available in New York.
Read more in our full Chase mortgage review.
How to apply for a Mutual of Omaha mortgage
1. Choose your loan type
Navigate to the Mutual of Omaha website (MutualMortgage.com) and click on the “Apply Now” button.
2. Get prequalified
Request a prequalification or preapproval to get a better idea of the amount and rate you might qualify for.
3. Submit a loan application
To start a Mutual of Omaha mortgage application online, navigate to “Apply Now” on the homepage. You can also click on “Find a Loan Officer” at the top of the page to search for loan officers in your area.
Learn more about how to apply for a home loan.
- Identification
- Tax documents
- Bank statement
- Pay stubs
- Debt and asset statements
- Gift letters (if you’re using gifted funds)
Is it safe to get prequalified with Mutual of Omaha?
Yes, it’s safe to get prequalified with Mutual of Omaha. Mutual of Omaha does a soft credit pull (instead of a hard credit pull), so you won’t see any negative impacts on your credit during the preapproval process.
Learn more about the differences between hard credit pulls and soft credit pulls.
Mutual of Omaha’s customer service experience
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You can contact Mutual of Omaha via:
- Customer service: (833) 721-1001 (representatives are available weekdays from 8 a.m. to 6 p.m. PST.)
- Servicing and loan information: (888) 839- 7193 (representatives are available weekdays from 8 a.m. to 9 p.m. ET and Saturdays from 8 a.m. to 3 p.m. ET)
- Email: [email protected] or [email protected]
- Mail: Mutual of Omaha Mortgage 3131 Camino Del Rio N #1100 San Diego, CA 92108
How LendingTree experts rated Mutual of Omaha Mortgage
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.
Mutual of Omaha’s scorecard:
✅ Publishes rates online
✅ Offers standard mortgage products
❌ Includes detailed product info online
✅ Shares resources about mortgage lending
✅ Provides an online application
Frequently asked questions
Mutual of Omaha allows you to apply for a custom home loan quote online. Once you’re a customer, you can manage your loan and make payments online or through the Mutual of Omaha mobile app.
Mutual of Omaha is a legitimate mortgage lender that has been in business since 1909 and began issuing mortgage loans in 2016. It’s licensed to conduct business in 49 states and the District of Columbia.
You can view more info about Mutual of Omaha’s state licenses and registrations through the Nationwide Multistate Licensing System and Registry (NMLS) website.
Getting preapproved with Mutual of Omaha likely won’t affect your credit score, since lenders often do a soft credit pull during that stage of the homebuying process. However, they will do a hard credit check later on, which may slightly ding your score.
Mutual of Omaha has generally positive reviews on TrustPilot, based on more than 800 reviews. Customers frequently highlighted good customer service experiences, especially with their loan officers. One reviewer expressed satisfaction with the speed of the preapproval process.