Royal United Mortgage Review

About Royal United Mortgage

Royal United Mortgage

Royal United Mortgage was founded with the purpose of enriching lives in the communities we serve by providing an unparalleled education and service experience for our customers and employees. The Royal United Mortgage product and pricing process is customized to meet both the short and long term goals of each individual client. We believe the customer expects honesty, education, and results; Royal United was built on these principles.

What is Royal United?

Royal United Mortgage is a privately held mortgage lender with headquarters in Indianapolis. Founded in 2008, the company focuses on offering home loans to its customers in the Indianapolis area and beyond.

Royal United Mortgage is a member of the Better Business Bureau and has received awards for being a top place to work, as well as for the quality of its customer service. According to a company representative, Royal United’s goal is not only to help consumers find a mortgage, but to help them find the “right” mortgage for their needs.

Working with Royal United Mortgage

Royal United Mortgage is licensed to offer mortgage loans in the following states:

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • Wisconsin

Currently, the mortgage lender features five different locations — each of which has loan officers on site. Current locations:

  • Indianapolis
  • Schaumburg, Illinois
  • Cincinnati
  • Austin, Texas
  • Bluffton, South Carolina

The minimum credit score to get a mortgage with Royal United is 600, for qualified borrowers applying for an FHA loan. For the rest of its mortgage products, Royal United has a minimum credit score requirement of 620.

Also note, while most of the company’s mortgage loans are underwritten using computer software, the lender does offer manual underwriting for FHA loans and VA loans.

Royal United Mortgage currently offers home loans for the following property types:

  • Single-family homes
  • Multi-family dwellings
  • Condominiums
  • Townhomes
  • Unique properties, such as log homes or A-frame homes

Royal also offers loans to refinance existing mortgages. Royal United Mortgage does not offer home loans on manufactured homes or co-ops.

Royal United Mortgage products

Royal United Mortgage offers a variety of home loan products to meet the needs of various consumers. Its offerings include new home loans, home refinancing loans and home equity products. Each loan type is outlined below.

Traditional home loans
Royal United offers home loans that help consumers purchase a first home, second home or an investment property. The lender offers fixed-rate mortgage products with terms of 10, 15, 20 or 30 years. It also offers a 5/1 adjustable-rate mortgage to consumers who qualify.

Home mortgage refinancing
Royal United Mortgage also offers home loan refinancing that can help borrowers accomplish myriad financial goals. By refinancing your mortgage into a new loan with a lower interest rate or better terms, you have the potential to lower your monthly payment or save money on interest over the duration of your loan.

Home equity loans
You can also reach out to Royal United Mortgage for help accessing your home equity. Its home equity loans can make it easier to borrow money to make home improvements, pay for college, purchase a vehicle, start a business or consolidate debt.

VA loans
In addition to home loans for regular consumers, Royal United Mortgage offers VA loans to veterans and qualifying spouses. These loans let you buy with no down payment and don’t require you to pay private mortgage insurance. If you qualify, you can use a VA loan to purchase a home or refinance a mortgage on a home you already own. You may also be able to refinance and get cash out of your property if you have adequate home equity.

FHA loans
Royal United can also help you qualify for an FHA loan with easy credit requirements, a minimum down payment of just 3.5% and low closing costs. FHA loans are also available on single-family homes or multi-family properties with up to four units.

The mortgage application process

  • How to apply. Royal United Mortgage lets you apply for a free mortgage rate quote online via its website. You can also call the number on the website to speak to a representative. The company says the majority of its business takes place over the phone, usually after a 10 to 30 minute phone call with a loan advisor who helps borrowers go over their options.
  • Getting a quote. Royal United claims that borrowers typically receive a pre-qualification offer within 30 minutes.
  • Gathering information for your loan. Royal United requires fairly standard documentation for your home loan to move forward. Information you’ll need to gather and submit includes two years of W2s, two years of personal tax returns, 30 days of pay stubs, salary information from your employer and proof of identity from the IRS.
  • Submitting documentation for your loan. Royal United offers several secure ways for consumers to send information for their loans. Borrowers can upload documents via the lender’s online platform, or text or email documentation via a secure link.
  • During the loan process. Royal United customers have access to an online portal where they can monitor their loan progression and gain insight into the process and next steps.
  • Submission of loan for approval. Once borrowers submit all documentation required by the lender, an appraisal will be ordered by the loan advisor if required. From there, the loan advisor submits the loan for initial approval. Royal United also maintains that many of its home loans don’t require an appraisal.
  • Closing. When it comes to a refinance loan, Royal United says the majority of loan closings take place at the homeowner’s residence at any time and date of their choosing. With a purchase loan, closing normally takes place at an attorney’s office or a title company office at a time mutually agreed upon. Closings are scheduled once Royal United has issued the closing disclosure.

During the mortgage process, borrowers have a single point of contact — a loan advisor — they can reach out to for help. Borrowers may also hear from a sales manager whose main goal is to ensure the loan process runs as smoothly as possible.

Pros and cons of Royal United Mortgage


  • Royal United Mortgage offers a variety of home loan options, including purchase loans, refinance loans, FHA loans and home equity loans. It also offers VA loans for veterans and spouses who qualify.
  • Not only does Royal United offer fixed-rate mortgages that last 10 to 30 years, but it also offers a 5/1 ARM.
  • While you can use the website to apply for a free mortgage quote online, Royal United Mortgage also offers brick-and-mortar branches in five states.
  • Royal United is licensed in 34 states, making it a solid option for a large swath of the country.
  • You can use one of its purchase loans to buy a first home, second home or an investment property.


  • The company website lacks meaningful details on the minimum credit score requirements and how to apply.
  • Royal United Mortgage only has one adjustable-rate mortgage offering available.
  • It doesn’t offer home loans on manufactured homes or co-ops.

Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.

The information in this article is accurate as of the date of publishing.