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LAST UPDATED: June 7th, 2022

Founded in 2016, Morty is a licensed mortgage broker dedicated to simplifying the home loan process through its unique, completely digital service. Morty has made every step of the home buying process virtual, which significantly cuts down the time and costs of the home buying process.

Morty is a mortgage broker, not a direct lender, meaning that all loans originated by the company are funded by third party lenders. Morty works with a variety of lenders, offering different loan types with varying requirements, costs, and fees — Morty will help you find the best mortgage for you.

However, the company only offers conventional loans and adjustable rate mortgage (ARM) loans.

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Continue reading for a full review of this company, or jump down to Morty mortgage reviews here.

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The Good

  • Low Mortgage Rates
  • Digital Pre-Approval Letter
  • Quick Closing
  • Mortgage Recasting
  • Apply with a Co-Borrower

Low Mortgage Rates

With Morty, you can shop from a number of lenders online. Some of the lenders are wholesale lenders, meaning that the lowest rates available on the market are analyzed as possible mortgage options for you.

Based on the information that you provide with Morty, such as your credit score, purchase price, and down payment, a handful of detailed and personalized mortgage rate options are created for you to choose from. Morty states on its website that homebuyers that have used its services feel confident going forward with their first option about 90 percent of the time.

In addition, Morty provides daily, updated interest rates, which is not available on all mortgage lender websites.

Digital Pre-Approval Letter

Morty makes it incredibly easy to get a mortgage pre-approval letter. A pre-approval letter is a crucial part in the home buying process, demonstrating to the home seller that you have approved funding to purchase the house. Morty takes out the traditional step of visiting your local bank/lender for a pre-approval letter and instead is able to do the whole process online.

All you have to do is provide the necessary information for your pre-approval letter, which includes your income, assets, debts, and credit history. Within a few minutes, Morty will be able to virtually verify your information and provide you with a traditional and accurate pre-approval letter. No more bank fees or waiting rooms, you can now do it all from the convenience of your home.

Quick Closing

Morty claims that they can help you close on a house in as little as three weeks, when the typical process takes an average of six weeks. Morty is able to cut down the closing time so much because it's closing process is digitally monetized, it works directly with lenders, eliminating the need to go through a third party, and lastly it has a team of dedicated mortgage experts working to make the process as seamless for the borrowers as possible.

Mortgage Recasting

Morty offers mortgage recasting instead of refinancing. Mortgage recasting is less expensive than refinancing and generally easier to get approved for, reducing your monthly expenses. However, recasting does not change your loan term or interest rate, which could be a drawback for some borrowers. However, recasting can be a good option for saving money on your mortgage.

Morty recasting requires a lump sum upfront (typically around $10,000) as well as a processing fee ranging from $200 to $400.

Apply with a Co-Borrower

You can add a co-borrower to your mortgage loan, increasing your chances of approval and securing a lower interest rate. A co-borrower differs from a cosigner because co-borrowers apply for the mortgage with you, are on the property's title, and are also responsible for paying back the home loan.


The Bad

  • High Credit Score Requirement
  • No FHA, VA, or USDA Loans
  • Not Available in all 50 States

High Credit Score Requirement

Morty requires borrowers to have a FICO credit score of 660 or greater and all accounts on your credit report must be current to qualify for a mortgage loan. This credit score requirement is higher than you might see with other lenders, making it more difficult for low-credit borrowers to qualify for a mortgage.

However, even if you meet this minimum credit score requirement or have an excellent credit score (700+), qualification is not guaranteed.

No FHA, VA, or USDA Loans

Morty doesn't offer mortgage loans issued through the Federal Housing Administration (FHA), Veterans Affairs (VA), or United States Department of Agriculture (USDA). Many lenders offer FHA loan, VA loan, and USDA loan products, which can provide greater flexibility to homebuyers who would benefit from a lower down payment option.

It is important to note that FHA, VA, and USDA loans have specific qualification requirements and are not available to all consumers.

Morty also doesn't offer jumbo loan products.

Not Available in All States

Morty is only available in 36 states, including Washington D.C. Its mortgage products and services are not available in the following states:

  • Alaska
  • Arizona
  • Hawaii
  • Louisiana
  • Massachusetts
  • Nevada
  • New Hampshire
  • North Dakota
  • Rhode Island
  • Texas
  • Utah
  • Vermont
  • Wyoming

The Bottom Line

Morty will be able to help you secure a home loan in nearly half the time, with the convenience of everything being done digitally. Morty has the capacity to comparison shop an overwhelming number of lenders, meaning that it can secure you lower than normal mortgage rates. 

Overall, we recommend Morty as a mortgage broker, plus don't forget to check out what customers are saying in the Morty reviews below.

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David Vollberg Duluth, GA

The guys on my team worked with me on a late change and absolutely knocked it out of the park. Their communication was key and I couldn't be happier with the close and process. This on top of the excellent rate they got me on our loan. Derek and Jack were amazing!

3 years ago