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Embrace Home Loans

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LAST UPDATED: November 22nd, 2023

Embrace Home Loans, founded in 1983, is a direct mortgage lender for Fannie Mae, Freddie Mac, and an approved issuer for Ginnie Mae. As a direct lender, Embrace shortens the loan process by performing the underwriting for each loan, rather than a real estate broker or lead re-seller which outsources loan underwriting, eliminating the need for a middle man in the mortgage process.

Embrace Home Loans is licensed for mortgage lending in 46 states and Washington D.C.

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Continue reading for a full review of this company, as well as Embrace Home Loans reviews from real customers.

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The Good

Variety of Loan Types

Embrace Home Loans offers a variety of different loans. Its home loan options include:

  • Conventional Loan
  • FHA Loan
  • VA Loan
  • USDA Loan
  • Jumbo Loan
  • 203(k) Renovation and Rehab Loan

These options make it easy to find an affordable mortgage rate that works for you.

It should be noted that Embrace Home Loans offers a 203(k) renovation and rehab loan. This type of loan is not common among all mortgage companies. For those that are looking into buying a foreclosed home a 203(k) loan is a great option that is tailored to this specific type of home purchase. Foreclosed homes are often a risky purchase, but it is easier to fund with a 203(k) loan.

Refinancing Options

The company is equipped to refinance mortgages in order to lower homeowners' monthly payments, remodel your home, or begin debt consolidation by paying off high-interest credit cards, car loans, or medical bills. As a direct mortgage lender, Embrace Home Loans can streamline the refinance process to close in just weeks (versus months). Cash-out refinance or equity refinancing is also available. 

Embrace Home Loans opens up refinancing to a wider range of borrowers through its two specialized programs — these two programs replace previous Home Affordable Refinance Program (HARP) loans:

  • Refi Possible
  • RefiNow

The Refi Possible and RefiNow programs can help you roll up to $5,000 into closing costs into your mortgage, benefit from a reduced interest rate and lower monthly payment, and receive a $500 credit for an appraisal if required.

Even if you just bought your home a few years ago and have not built up significant equity on your home, Embrace Home Loans makes it possible for you to refinance. If you have a high debt-to-income ratio and low credit access, Embrace Home Loans has a number of programs that make refinancing a possibility.

Quick Pre-Approval

Once you have submitted an Embrace mortgage application you can be pre-approved within one business day. If you are pre-approved you aren't obligated to proceed with the loan offer. You won't be charged any fees until you choose to proceed after pre-approval.

Extended Rate Lock

Through Embrace Home Loans' Extended Rate Lock program your rate is protected for up to 360 days, near an entire year. This rate lock is also flexible, allowing you to float down your rate within 30 days of closing (this is a one-time option).

The extended rate lock is only available for conventional, FHA, and VA loans.

On-Time Closing Guarantee

According to Embrace, it is the lender's responsibility to make sure things run smoothly and efficiently. In fact, the company is so confident in its efficiency that it will pay you $2,500 if it is to blame for your conventional, VA loan, or FHA loan closing later than expected.

This payment guarantee is motivation for your loan officer to work quickly and serves as a consolation if you're dissatisfied and don't close a purchase on account of the company.

Approved to Move™ Program

Embrace claims its Approved to Move™ full approval program puts you a step ahead of other potential buyers who are only pre-qualified or pre-approved by their lenders. Through Embrace, you can get a full loan approval before you find the home you want to make an offer on.

This unique program can help you secure your dream home faster, and is unique in the mortgage industry and can give you an important leg up in a competitive market. You'll be able to approach sellers with an offer that lasts up to 90 days.

Mobile App

The Embrace Home Loans mobile app gives borrowers, real estate agents, and loan officers access to loan information and status, chat communication, and notification reminders for important dates like appraisal, loan commitment, closing, and rate lock. 

Branch Locations

Embrace Home Loans is licensed in 46 states and Washington D.C., and also has physical branch locations in the following states:

  • Alabama
  • Connecticut
  • Delaware
  • Florida
  • Maine
  • Maryland
  • Massachusetts
  • Missouri
  • New Hampshire
  • New Jersey
  • New York
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Virginia
  • West Virginia

If you would prefer to manage your home loan in person, you can visit a branch location (if available in your state), allowing you to work closely with an Embrace loan officer.


The Bad

Not Available Nationwide

Embrace Home Loans is not licensed to lend in the following states:

  • Alaska
  • Hawaii
  • Montana
  • Nevada
  • Wyoming

If you live in any of these states, Embrace Home Loans' mortgage products and services will not be available to you, and so you will need to research other lenders.

No Home Equity Lines of Credit (HELOCs)

Although Embrace Home Loans doesn't offer HELOCs, you can refinance your mortgage instead to free up some money that you can use towards paying down debt, home improvement, or whatever you would have used a HELOC for.


The Bottom Line

Embrace Home Loans sets itself apart with its on-time closing guarantee of a $2,500 payment if closing doesn't happen in time and the company is to blame. It also has a full approval program and claims the entire mortgage process can be wrapped up in as little as 21 days. Mortgage loan products include conventional loans, FHA insured loans, VA loans, USDA loans, prime jumbo loans, and 203k renovation loans in addition to refinancing an existing mortgage. 

Embrace Home Loans appears to be a reputable company. In regards to customer service, each borrower is assigned a dedicated loan officer from pre-qualification to closing, which is especially helpful for first-time homebuyers. The company is responsive to consumer comments and complaints via the Better Business Bureau, so it cares about its online reputation and customer satisfaction. Plus, Embrace has been in the industry for over 36 years.

A good sampling of Embrace Home Loans reviews along with credit score requirements and current mortgage rates and fees on the company's site would both be helpful in comparing it to top mortgage lending competitors, but overall an Embrace home loan could be a good choice for your mortgage needs.

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cynthia mahoney Grants Pass, OR

I requested a loan, and though ultimately turned down the first time (not enough credit), they told me to call back. I have never missed a call from them, received excellent information via email and phone. Simple to work with. Able to help with every aspect of our needs and no taxes at the end of the year. I worked/work through/with Dennis J for my loan. Not YET a paying customer.

3 years ago

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Anna Lu Portsmouth, VA

I had a very bad experience with this orgnization. I worked with Roger F. I do not think he is professional. He was not sure whether I could get the loan, but let me pay some fee. I could not get the loan, but I was lost more than $600. Far away from this company.

4 months ago

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Davante Snider Jacksonville, FL

My experience was horrible. The process took way too long and I was only doing a refinance and I had all my documents sent the next day after I submitted the application. The loan officer Dan G was who I worked with. After 2 months he decided to update me with the final approval. Then he started Requesting more documents, they also stated I couldn’t use money from my 401k for closing cost which is unheard of. They also requested screenshots of my current bank transactions when they were fully aware that the statements were not ready yet which seemed to be very unprofessional. Being that I have been through the process of home buying already, a “final approval” means it’s time to close, no further information is needed. Please go find lending or refinance your loans else where. I was able to get my loan refinanced with another company within 1 month and 2 weeks after wasting so much time with Embrace!

2 years ago

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Raof Hollywood, FL

Embrace approved my application, but did not responded to my phone calls, texts, emails for months. Finally, they could not close my loan? Unreliable firm, please don't waste your time with Embrace. Embrace should not be in business.

3 years ago

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charles brandwein Edison, NJ

bad guys.Loan officer requested one document after another and another and so onThe whole process was confusing unreasonable and ultimately unproductive I own several properties in New jersey and Massachusetts and have never had such a manifestation of discourtesy and obstruction.

3 years ago