Founded in 1990 and based in Mount Laurel, NJ, Freedom Mortgage is a privately-held, full-service lender that is licensed in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands. The company's goal is to help customers achieve the American dream of home ownership and places a particular focus on veterans.

In addition to conventional loans, VA loans, FHA loans, and USDA loans, Freedom Mortgage offers renovation lending, correspondent lending, wholesale services, refinancing, and cash-out refinancing. 

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The Good

  • Refinancing
  • Eagle Eye Pledge
  • VA Loans 

Refinancing

Freedom Mortgage offers refinancing services to help borrowers pay off a loan sooner, reduce a loan term and monthly mortgage payments, or get a lower interest rate. The company’s site has a helpful chart showing the difference between a conventional refinance, VA loan refinance, and FHA loan refinance. 

Both the VA loan refinance process and FHA loan refinance process involve less documentation required and no appraisal. 

To refinance, you need to meet certain credit requirements and income verification. The refinance process follows these steps:

  1. Determine eligibility (via credit check, pay stubs, and debt-to-income ratio) 
  2. Determine your goal
  3. Lock in your rate
  4. Sign documents and close 

Cash-out refinancing, where you pay off your existing mortgage and take out a new loan, is available to qualifying borrowers who want to get cash out from their home’s equity to pay off high-interest debt, consolidate bills, make home improvements, or pay for a major expense. This does take more time and additional paperwork. Private mortgage insurance, loan-to-value ratio limits, and loan restrictions may apply. 

Eagle Eye Pledge 

The company pledges to look for lower rates throughout the time you own your home and to help you capitalize on increasing home equity. Freedom Mortgage will contact you if rates drop so you can lower your monthly payment and will also let you know if the value of your home increases to give you access to more cash. 

VA Loans 

Freedom Mortgage claims to provide exceptional customer service to people who have served in the U.S. armed forces. Backed by the U.S. Department of Veterans Affairs, VA loans help service men and women achieve homeownership with 0% down. With VA loans, there is no private mortgage insurance, no minimum credit scores, and rates are lower. The company’s VA affordability and refinance calculators assist prospective borrowers as they compare loan amounts and details. 

Plus, veterans can re-use this benefit multiple times. 

The Bad

  • More Info Needed 

More Info Needed 

More information is needed to see how Freedom Mortgage stacks up against other mortgage companies regarding eligibility, closing costs, and interest rates. For example, we can’t make an estimate for an interest rate with our control scenario because the monthly payments calculators on the company’s website have you enter in your own interest rate. However, the default interest rate is listed as 4.6%, so we assume that is the rate borrowers with excellent credit can expect.  

The Bottom Line

Freedom Mortgage's Eagle Eye Pledge demonstrates the company's commitment to doing what is best for the customer. Very few companies willingly provide information that will lower a customer's payment once a rate has been locked in. Homeowners have enough on their plates without needing to continue to track interest rates and home equity and so the company does the work for them.

Plus, the majority of our Freedom Mortgage reviews from consumers speak well about the quality of the company's customer service. This is a company worth considering for your home loan, though you should get more detailed information from a company representative regarding the terms of each loan type before making your decision. 

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User Reviews

Star Rating

2.5
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74 Reviews

Review Breakdown

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Lateisha

March 26th, 2019 Hampton, GA DETAILS arrow_drop_down
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I tried to get a loan modification done in 2017. It’s 2019 and still no resolution. Just added fees and interest. They have all my information and updated information but every time there’s always something “missing”. I have called back and spoke with the agents who see the info plain as day only to resubmit it back to underwriting for them to find another excuse. This was supposed to be a 45 day to at most 6 month process. In July it will be 2 years. Imagine the joy they have of collecting 2 years of interest and fees. The kicker is that you can even make a payment the day you start the process. Thx for nothing Freedom Mortgage.

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Candice G

February 13th, 2019 American Fork, UT DETAILS arrow_drop_down
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Our home loan was with Freedom Mortgage and the times I had to talk to customer service they were always so helpful and very friendly.

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H Moore

February 11th, 2019 Lehi, UT DETAILS arrow_drop_down
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We've been with Freedom Mortgage for two years when our mortgage loan was sold to them. They have a great website, which makes it easy to look up past payments and the amortization of your loan. Whenever I've called them with questions, I've been satisfied with customer service.

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Milton Fletcher

February 4th, 2019 Saratoga Springs, UT DETAILS arrow_drop_down
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Freedom Mortgage has been a great mortgage lender because of their customer service and their website is user friendly.

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Diane Kelly

January 31st, 2019 DETAILS arrow_drop_down
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Have only been with them six months and have had multiple problems and been given misinformation twice. They were very slow to pay our property taxes, resulting in warning notices from our tax authority and unnecessary stress for us. They didn't pay our property taxes until the zero hour, despite the fact that one of their reps told us that they should have been paid weeks earlier. They also told us that PMI wouldn't be applied to our account after we made an additional large lump-sum payment, but then they continued to charge PMI. Am frankly disgusted by the amount of time I have to spend trying to fix their errors.

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Lori Fletcher

January 30th, 2019 Saratoga Springs, UT DETAILS arrow_drop_down
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We have been with Freedom Mortgage for 2 years now and have really appreciated their customer service, ease of website and updates through email.

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Jeff Justice

January 29th, 2019 West Jordan, UT DETAILS arrow_drop_down
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A great company to work with! Our primary has been with Freedom for several years now and while it's been very low maintenance, the few times I've needed to call them for any account questions, their reps have been some of the most pleasant service people I've talked to.

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Suzanne Sweeney

January 17th, 2019 Hampstead, NC DETAILS arrow_drop_down
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Freedom Mortgage purchased my mortgage when I re-financed. I have been with Chase and Liberty and both were great. If I could have rated them awful, incompetent with the worst customer service and polices with any mortgage company I would but poor was the lowest option. First if you choose to make your monthly payment over the phone they charge you $10.00 to make a payment to YOUR own account and if you choose to use one of their rude and unprofessional customer service representatives it $20.00, however if you use their website making your payment is free, sound like a solution except that the website is not user friendly. An example after spending 90mins on hold to only get disconnected and then placed on hold for another 30mins I was told that my user ID had to be in all CAPS but they fail to mention that anywhere on the website when you sign up. The troubleshooting options offered on the website didn’t solves my problem. It only wasted close to 2 hours of my time before it suddenly fixed and I could make my payment Second another borderline fraudulent tactic they employ is that you pay on the website and get a confirmation your payment is made well within the due date but somehow on Freedom Mortgages end it wasn’t made until after the due date, so they charge you a $50.00 late fee. Never in the 20 years paying a mortgage has it ever been close to late, but I pay it five days before the due date, and it held for some reason until after the due date passes until its credited to my account and I had a confirmation number provided by them when I made my payment. This and my unrelenting stance that I should not be assessed a late fee for their error. Reluctantly after asking to speak to a supervisor did it get removed. Let's talk about the escrow fiasco somehow my payment is going up $200 a month for a shortage, however my insurance and taxes didn’t increase. Their excuse is I need a cushion, which I already have that’s well within the defined amount set by law. However, is I agree to pay the seven-hundred-dollar shortage my payment would not increase. I asked for an escrow analysis to be run several times until magically there was suddenly not a shortage any longer. There are so many other mortgage companies that appreciate and understand customer service that you can trust to manage your mortgage without having to constantly monitor them to make sure they are not screwing you over. It is terrifying to think how many Freedom Mortgage customers are experiencing the same fraudulent behavior but don’t have the ability or time to double and triple check that Freedom Mortgage is not taking advantage of their customers. I recently reached out to my mortgage to re-fi even if it means paying a higher rate just to get away from this awful company. Please choose another Mortgage company that appreciates your business and knows the true meaning of customer service. We all have numerous choices Freedom Mortgage shouldn’t ever be one of them.

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Rischelle Mikkelson

November 14th, 2018 American Fork, UT DETAILS arrow_drop_down
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Freedom Mortgage was easy to work with at our closing. Lots of paperwork was made easy. They quickly explained everything we had to sign, answered all our questions, and were very polite. After a few years, they did sell our loan which was a bit of a hassle to transition everything over, but they made it as seamless as possible.

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October 18th, 2018 Wasilla, AK DETAILS arrow_drop_down
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We make our payments on time and never had any late fees. That being said, we aren't thrilled how they expect money pretty far in advance, we get the bill almost a month ahead of when its due... which is fine, but never had bills come that early for something. Otherwise never had any problems.

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Isaac Greenwood

September 17th, 2018 Riverton, UT

We haven’t been with them long, but very easy to set up payments and pay online.

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POLYANA LAVAKI

September 17th, 2018 Salt Lake City, UT

I have owned my home for over 10 years now and since then Freedom mortgage is who I pay my mortgage to. Their online system is very easy to use. I was able to do isntallments weekly on my mortage and when I got paid weekly. When I moved job and got paid monthly instead, I called them again and asked if I can go back to monthly payment instead of weekly and they were able to do it right away.

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Brian Slade

August 29th, 2018 South Jordan, UT

Great company to work with. Good technology!

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Nik Anderson

August 23rd, 2018 South Jordan, UT

Our mortgage was transferred to Freedom. Their website is easy to use and the customer service was great while we transferred our loan to them.

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Troy Millett

August 21st, 2018 Lindon, UT

I have had a mortgage with Freedom Mortgage for the last 6 years or so. I received a letter from them a year ago saying they would refinance my loan at a lower rate for no charge. I took them up on the offer and it saved me a lot! Who does that?! Absolutely nothing out of pocket. They have earned my business!

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Jamie Ingram

June 18th, 2018 Saint Augustine, FL DETAILS arrow_drop_down
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0 0 0 0 0 STARS .ABSOLUTE SHADDDDDY PEOPLE. I AM I N PROCESS OF TAKING MY BUSINESS ELSE WHERE AND THERE TRYING TO KEEPA LAND SURVEY WHICH I PAID FOR AND OWN FROM ME AS THEY TRY TP HARS SALE ON REFI WITH THEM I WILL BE FILLING WITH OUR STATE ATTY OFFICE. PLEASE CHECK WITH VA BEFORE USING THESE PEOPLE. TRY TO LIE TO ME ABOUT MY CREDIT SCORE TO CHARGE MORE IN INTERST. ON AND ON. LEMON LEMON LEMON… IM TRYING TO LEAVE 0 STARS

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Vicki Bell

June 8th, 2018 Henderson, NV DETAILS arrow_drop_down
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Customer Service is excellent and they are very good with there advice when you are applying with them. They fit your needs to there program and also assist you with any questions and provide you with options when taking out loans with them.

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Anonymous

April 25th, 2018 DETAILS arrow_drop_down
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No real concerns with the mortgager. We have only been with them for 2-3 months

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Judith Nabarrete

February 5th, 2018 Las Vegas, NV DETAILS arrow_drop_down
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Low rates and terms simple interest mmprtgage that pays off fast.

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Don West

February 5th, 2018 Cortez, CO DETAILS arrow_drop_down
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Easy to deal with and they had good rates.

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Gerald T Goodnow

January 26th, 2018 DETAILS arrow_drop_down
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Great rate , settled in 30 days , fast service, Did everything they said they would in a timely manner, no surprises

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Roger Paradis

January 22nd, 2018 DETAILS arrow_drop_down
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They had the best rates for a refi with no out of pocket.

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DONNA FURMAN

January 9th, 2018 DETAILS arrow_drop_down
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Love my house !!! Have had no problems with my lender

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Tom Parsons

May 28th, 2016

Our neighborhood has deteriorated over the last 3 years, so my wife and I decided to buy a home in a nicer neighborhood and turn our current home into a rental. Freedom Mortgage bought the mortgage on our current home about 6 months ago, so we figured a new mortgage with them would be an easy process. We were wrong. So very wrong. From the beginning we have been asked several times to provide the same documents (tax returns, pay stubs, employment verification, sales contract, etc.) It seems that as the mortgage application moves from 1 step to another, it also moves from 1 department to another, WITHOUT the documents we send them. So, we have sent them the same documents 4 times, each time to be told "We don't have such and such documents, can you send it again?" Their online document delivery/signature system doesn't work, and they can't figure out how to make it work for more than one applicant, so they shipped our application to us overnight for signatures, except they sent it to the wrong address. We got it 3 days later when a neighbor that lives a block away brought it to us, after he opened it. These are documents with our social security numbers and other personal identification information on them! Did I mention our neighborhood isn't the greatest anymore? Thanks to their mistake we now have to place a fraud alert on our credit reports. They have refused to give us an accurate estimate of closing costs and have repeatedly told us we will have to pay items that the VA and our state do not allow lenders to charge the buyers. They are also telling us we need to pay into escrow at closing the current property tax bill, due in 2 months, that is for last year's taxes, and enough to cover taxes for this year prior to closing. It is not the buyer's responsibility to pay property taxes for a time period before they purchased the home, it is the seller's responsibility to pay the taxes for the time they owned the home. Now, 3 days before we were scheduled to close, their agent sent an email stating we will not be able to close on time because they don't understand the documents we provided that prove our income and employment. What's hard to understand about the last 4 years' income tax returns and last 4 months' pay stubs? They now want written and signed statements from us explaining so-called discrepancies in our taxes and pay stubs. I've explained in an email that the so-called discrepancies don't exist and are a result of their mathematical errors, but they still want written and signed explanations. I suspect this is an effort on their part to delay closing since they haven't been able to calculate actual closing costs and provide us with the Closing Disclosure that is required by law no later than 3 days prior to closing. Now, because of their incompetence and unprofessional behavior, we have to ask the seller for an extension of the sales contract, and hope the seller doesn't object, or we lose the house. So far, everyone we have dealt with at Freedom Mortgage has demonstrated an absolute lack of knowledge, competence and professionalism. I would not recommend this company to anyone I know. In fact, I've told everyone I know to avoid this company like the plague!