Churchill Mortgage
Is This Your Business?Author: Kaitlyn Short
Churchill Mortgage, founded in 1992, seeks to empower homebuyers and offer them greater flexibility in the mortgage process. This is facilitated by an innovative pre-approval process, a 90-day interest rate cap, and faster closing times than many competing mortgage lenders.
Homebuyers can choose from a variety of home loan types, including the Churchill Mortgage No Score Loan that can make homeownership a reality for those who are trying to pay off debt and may have a low, or no, credit score.
Learn more about this mortgage lender or jump down to read Churchill Mortgage reviews from real customers.
Top Ranked Companies
The Good
- Variety of Loan Types
- Fast Closing Timeline
- Churchill Certified Home Buyer Program
- Churchill Rate Secured program
- Churchill Checkup
- Churchill Mortgage Corporation Mobile App
- Online Mortgage Tools and Resources
Variety of Loan Types
Churchill Mortgage offers the following loan type options:
- Conventional Loan
- FHA Loan
- VA Loan
- USDA Loan
- Jumbo Loan
- No Score Loan
It is worth noting that Churchill Mortgage has a USDA loan option, as many lenders don't offer this government-insured loan option.
Churchill Mortgage's No Score Loan is also a unique loan option. This loan program is unique to Churchill Mortgage and is designed to assist low or no credit borrowers qualify for a mortgage. To get this non-traditional mortgage loan, you will be subject to a manual underwriting process, which can take longer than the underwriting process with traditional loan products.
If you are looking to refinance your current mortgage loan, Churchill Mortgage has refinance options that can help you lower your interest rate and reduce your monthly mortgage payment. It is advised to speak with a Churchill Mortgage representative to determine if refinancing is the best option for you.
Fast Closing Timeline
Churchill Mortgage claims faster closing times with no delays — you could close on a mortgage in as little as 14 days, which is much faster than the industry average of 40 to 65 days.
Certified Home Buyer Program
The Churchill Certified Home Buyer Program offers borrowers with one step beyond pre-approval, allowing you to shop for a home with even more confidence and placing you in a more competitive position when making an offer on a home.
The Certified Home Buyer Program differs from traditional pre-approval processes by ensuring that all submitted financial documents are reviewed by an actual underwriter, after which you are conditionally approved for financing. You will then receive a pre-approval letter which you can show to a home seller, demonstrating that you have secured funding and are in approved position to purchase a home.
Rate Secured Program
Churchill Mortgage understands that it can be frustrating to have your interest rate go up before closing on your loan. For that reason, Churchill Mortgage provides a 90 day interest rate cap — this means that if rates go up you will keep your lower rate, but if rates go down you'll get the new lower rate.
Checkup Program
The Churchill Checkup program allows borrowers to reassess their mortgage and ensure that it is matching up with their current financial goals.
To inquire about what options might be available to you and your Churchill Mortgage loan, you can call and speak with a home loan specialist.
Churchill Mortgage Corporation Mobile App
The Churchill Mortgage Corporation mobile app is available in both iOS and Android devices. Through the app, you can track and manage your mortgage, make payments, and contact your loan officer, if needed.
Online Mortgage Tools and Resources
Churchill Mortgage provides homebuyers with a variety of online tools and resources, including mortgage calculators, eBooks, and guides.
The lender provides the following mortgage calculators:
- Monthly Payment Calculator
- Home Affordability Calculator
- Refinance Break Even Calculator
- Bi-Weekly Payment Calculator
- Early Payoff Calculator
eBooks and guides include information for first-time homebuyers, as well as other helpful information on refinancing and other steps you may want to take at any point during homeownership.
The Bad
- Unlisted Mortgage Rates
- Not Available in New York
Unlisted Mortgage Rates
Churchill Mortgage doesn't provide daily updated mortgage rates on its website. While this isn't uncommon, some mortgage lenders do provide updated rates. However, if you'd like to get your personalized mortgage rate you can easily get started with a Churchill Mortgage application to see what your estimated rate would be.
It is worth noting that Churchill Mortgage also doesn't outline specific lender fees and closing costs on its website.
Not Available in New York
Churchill Mortgage's loan programs and services are available in all states but New York.
The Bottom Line
Churchill Mortgage offers homebuyers more confidence and flexibility in the mortgage process. Through its specialized programs — Certified Home Buyer Program and Rate Secured Program — you can get pre-approved quickly and ensure that you will get the lowest rate available when you close on your loan. And you can choose from various loan options, allowing you to tailor your mortgage to your financial circumstances.
The Churchill Mortgage application process is entirely online and the lender claims fast closing times, as little as 14 days. After closing on your loan you can easily track and manage your mortgage through the Churchill Mortgage Corporation mobile app. Most lenders don't have a mobile app, making Churchill Mortgage a favorable mortgage lender option.
There are currently no Churchill Mortgage reviews on Best Company, and so we are unable to give an accurate recommendation of this company based on customer sentiment at this time.
