Freedom Mortgage is a mid-sized mortgage lender that has mortgage officers in all 50 states of the country.

The company offers a wide range of mortgage products to its nationwide customers. At present, Freedom Mortgage services loans for over one million clients throughout the country.

The company first opened its doors in 1990. It’s currently located in New Jersey. Let’s take a closer look at this popular lender.

Table of Contents:

  • What Does Freedom Mortgage Do?
  • Is Freedom Mortgage a Direct Lender?
  • Loan Options
  • Qualifications
  • Pros & Cons
  • Is Freedom Mortgage For You?

What Does Freedom Mortgage Do?

freedom mortgage logoFreedom Mortgage is a mortgage lender that focuses on providing home loans and refinancing to its client base throughout the United States. The company operates using a range of local loan officers that connect with borrowers in different regions. Freedom Mortgage currently has loan officers in all 50 states.

Unfortunately, Freedom Mortgage does not allow you to apply for a mortgage via the internet. If you want to apply for a mortgage or home refinancing loan, you must fill out an online contact form with your details and contact information.

A loan officer in your area will then contact you about your mortgage application — you can typically complete the application via telephone.

At present, there are plenty of online mortgage lenders that automate the process for you. Instead of phone applications, some online lenders now offer ‘quick-decision’ online mortgage applications. Freedom Mortgage is only appropriate for borrowers who are happy with a more time-consuming process.

Is Freedom Mortgage a Direct Lender?

Unlike many other major mortgage lenders, Freedom Mortgage is both a direct lender and a loan servicer. So, what does this mean? A direct lender is a financial institution that is lending you the money when you apply for a mortgage.

On the other hand, a loan servicer is a company that services the administrative side of the loan — such as payments, loan questions, and other administrative issues. There are many loan servicing companies that purely facilitate the administrative aspects of the loan.

Because freedom mortgage services its own loans, you’re working with a lender that is in full control of every part of the lending process. Unfortunately, while Freedom Mortgage does have an ‘A’ rating on the BBB, it does have several complaints about its loan servicing abilities. It appears some customers have been incorrectly charged in the past.

Freedom Mortgage Loan Options

If you choose to work with Freedom Mortgage, you will have access to a wide range of mortgage options. Borrowers can apply for traditional mortgages on either 15-year or 30-year terms. The company also offers the same features for its refinancing products.

In addition to these traditional mortgage options, Freedom Mortgage also provides various government-backed loans. USDA, VA, and FHA loans are all accessible if you choose to work with this lender.

While Freedom Mortgage does offer a decent number of lending options, the company doesn’t provide much information about its lending rates. Freedom Mortgage’s website only explains the types of interest rates it provides. There is little clarity about what you can expect if you decide to apply for one of its home loans.

If you want more information about the company’s loans and rates, it’s best to speak with one of Freedom Mortgage’s loan officers.

Compare Rates Now

Mortgage Qualifications

If you want to apply for a mortgage at Freedom Mortgage, you will need a credit score of at least 620. This being said, the higher your credit score, the better chance you have of being approved for one of the company’s loans.

Freedom Mortgage is transparent about their interest in making mortgages more accessible to American families. The company aims to provide loans for low to middle-income families throughout the country, which might mean that you have a higher chance of receiving a loan at this lender.

The company’s efforts to increase access led to the acquisition of JPMorgan Chase’s USDA Rural Housing loan service. Many of the top mortgage lenders tend to focus on higher earners, so this might be a breath of fresh air for some borrowers.

As a rule of thumb, you should never apply for a loan that you’re not eligible for. If your application for a mortgage is rejected, it might damage your credit score. If you’re confused about your eligibility for a Freedom Mortgage loan, you can call a loan representative to discuss your current credit score and other lending details.

Pros and Cons

Now that you’ve reviewed the core features inside Freedom Mortgage, it’s time to assess its advantages and disadvantages.

As with any lender, there are both pros and cons associated with working with Freedom Mortgage. Let’s take a look at both:


  • Wide range of mortgage products
  • Access to loan officers that can provide a personalized experience
  • Strong rating with the Better Business Bureau
  • Committed to making home loans easier to access for low and middle-income families


  • Some negative customer feedback about the company’s loan servicing
  • No online application available
  • Not as large as some of the other providers in the mortgage industry

Is Freedom Mortgage For You?

So, is Freedom Mortgage a good partner for your next home loan or refinancing? While Freedom Mortgage clients do benefit from access to a direct lender that offers a broad range of mortgage products, there are several downsides that make the company an unattractive option.

First, you won’t have any access to an online lending application. While many home loan borrowers still prefer to work with an agent or lending officer, the rise of online applications means that many of Freedom Mortgage’s competitors are much more convenient.

Additionally, Freedom Mortgage isn’t very transparent about its loans, rates, or its application process. You need to fill out an online form and wait for a call from a loan officer to begin the process of applying for a loan. This means that it’s not easy to compare the firm’s rates against other mortgage companies in your area.

This being said, Freedom Mortgage has established itself as a reputable lender, and the company does offer its services to all 50 states. It’s best to seek more information about the company’s potential interest rates before you make any decisions.