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Lenda

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7 User Reviews
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Founded by Jason van den Brand and Elijah Murray in 2012, Lenda believes mortgage loans should be simple, transparent, fast, and fee-free. To achieve this mission, the company has developed specialized technology that reimagines the experience of applying for a new home loan or refinancing a current home loan.

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The Good

  • No Origination Fees or Broker Commissions
  • Online Platform 
  • Quick Turnaround Time
  • Concierge Service
  • Blog

No Origination Fees or Broker Commissions

One of the best things about obtaining a home loan from Lenda is the fact that the company does not charge origination fees or broker commissions. Few companies offer this benefit, which can save borrowers thousands of dollars.

Additionally, its digital-first model allows the company to save on costs normally tied to the home loan industry; Lenda has passed on those savings to its customers by not requiring origination fees or broker commissions.

Online Platform 

Lenda offers a simple and fast online application process to qualify you for a home loan or to refinance your home loan. Because it bypasses brokers and banks, customers of Lenda do not have to worry about broker commissions or bank fees.

The process is easy: sign in and input your zip code, mortgage amount, and the value of your home. Lenda’s algorithm will then search the 200 products it offers—a selection of 10- to 30-year fixed rate mortgages—and gives you multiple options for a home loan or refinancing.

The process is transparent, allowing the consumer to compare rates and see how each rate is broken down into various fees. On average, it takes 30 to 45 minutes to get through this process. 

Quick Turnaround Time

Lenda guarantees its clients a fast turnaround time. In fact, its advanced technology and online mortgage process allows Lenda to process applications and close loans approximately 3.5 times faster than the standard industry speed, which reduces the amount of time it takes to get your loan funded. Its quick closing time is especially impressive since each loan is different and has any number of unique challenges that can delay the process. 

Concierge Service

Lenda goes the extra mile to ensure a fantastic home loan experience for its customers by providing a dedicated home loan advisor to work with each client from the start of the process to the finish. 

Blog 

Lenda is actively involved on its company blog, which offers insightful resources and articles that are helpful for both current and future homeowners who are seeking information about home loans.

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The Bad

  • Limited Availability 

Limited Availability

Currently, Lenda's services are only available in 12 states: California, Colorado, Oregon, Washington, Arizona, Pennsylvania, Georgia, Illinois, Michigan, Virginia, Florida and Texas. However, the company is growing rapidly and hopes to expand into other states very soon.

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The Bottom Line

Lenda is an online platform that allows current and future homeowners to obtain a new home loan or refinance an existing home loan. The company offers several attractive features, including no origination fees or broker commissions, a quick turnaround time, start-to-finish concierge service, and informative online resources. 

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Star Rating

3.9

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7 Reviews

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1 grade

29%

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Karen Allen South Lake Tahoe, CA

I thought it was great all the way around, everybody was so helpful. It was so nice to just do everything online. I didn't have to take time off work and I could do it in the evenings and everything was laid out for me and the team was very responsive. I was completely happy with the process and it made everything just so much easier for me. From the first contact with Erika and Lilly and all the way through, they kept me informed and answered all of my questions. Even when we ran into a small hiccup, they were quick to help figure things out with me and it was smooth sailing after that. As long as you have the ability at home to scan and upload documents, this is a very easy way to go!

3 years ago

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Reply from Lenda

Hi Karen, Thank you so much for the amazing feedback! We really appreciate that you chose Lenda for your home loan. thank you for the kind words.

Apr. 12th, 2018

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Verified Customer

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Genuine Claremont, CA

Although it's an online service, it felt customized for me and there was always someone that talked with me and helped me if I needed a walk through of any process.

3 years ago

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Reply from Lenda

We are thrilled you had a great experience. Your feedback is so valuable and we strive to deliver the best customer service throughout the entire process. Thank you for the kind words!

Feb. 20th, 2018

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Verified Customer

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Josh Ring Seattle, WA

Simple, easy, convenient! The entire process was quick and easy!

3 years ago

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Reply from Lenda

Thank you for choosing Lenda to help you with your home finance. We appreciate your feedback! You made our day!

Feb. 20th, 2018

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Mohammad AbedRabbo Florence, AZ

Landa is a horrible mortgage broker. I found the experience to be frustrating and maddening. They kept asking for the same information over and over. They changed their mind from day to day. I had to prove identity several ways. Had to prove my income several different ways. Had to prove my employment status several different ways. At the end of a two month process, we are still in limbo.

3 years ago

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Verified Customer

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Yvette Marina, CA

Great rate and no closing costs and refund to boot

3 years ago

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Reply from Lenda

Thank you for choosing Lenda and we really appreciate the positive review!

Feb. 20th, 2018

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Tony L Walnut Creek, CA

Loads easier than the traditional method

3 years ago

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Reply from Lenda

Thank you so much for the positive feedback!

Feb. 20th, 2018

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unhappy

Cost savings are not worth the trouble. They will resell your mortgage to companies with bad reputation.

3 years ago

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Reply from Lenda

We are so sorry you were not happy with your experience. We absolutely strive to deliver the best customer service in every situation. We are taking your feedback very seriously. We have vetted the quality of each servicer we work with and follow up regarding every loan. Again, we appreciate your honest feedback.

Feb. 20th, 2018

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