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RoundPoint Mortgage

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LAST UPDATED: June 3rd, 2022

RoundPoint Mortgage Servicing Corporation, founded in 2007, is a Freedom Mortgage Corporation company. Roundpoint offers a variety of mortgage loan types, but it sets itself apart from other lenders with its renovation loan product, as well as its reverse mortgage options.

Read RoundPoint Mortgage reviews from real customers below.

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The Good

  • Variety of Loan Types
  • Simplified Application Process
  • Online Mortgage Payments
  • First-Time Homebuyer Programs
  • Online Fee Breakdown

Variety of Loan Types

RoundPoint Mortgage offers a variety of loan types, including conventional loans, government-insured loans, and specialized loans that aren’t typically available with other mortgage lenders. 

RoundPoint’s available mortgage loan products include the following:

  • Conventional Loan
  • FHA Loan
  • VA Loan
  • USDA Loan
  • Jumbo Loan
  • Renovation Loan
  • Reverse Mortgage

It is unique that RoundPoint offers a renovation loan product, as most large lenders don’t provide this mortgage option. Whether your renovation project is large or small, you can get cash-out to fund renovations through RoundPoint.

RoundPoint’s reverse mortgage offering is also worth noting, allowing seniors age 62 and older to access their home equity to help reduce any financial stress.

If you are looking to refinance your current mortgage, RoundPoint offers the following refinancing options:

  • FHA Streamline
  • VA IRRRL
  • FHA 203(k) Renovation Loan
  • Cash-Out Refinance

Simplified Application Process

RoundPoint seeks to simplify the mortgage application process and ensures that you have a qualified loan officer to help you each step of the way.

RoundPoint clearly outlines its application process on its website, guiding you through everything from reviewing and signing your contract-of-sale to closing. The lender doesn’t provide exact timelines for how long it will take to close on your loan, but you can rest assured that if you have any questions or concerns throughout the process you will be able to get the answers you need.

Online Mortgage Payments

You can make your RoundPoint mortgage payments online, making it quick and easy to manage your payments. 

If you would prefer to make your payments through another method, you can also make a monthly payment over the phone, by mailing a check, or through MoneyGram, a money transfer service that includes a mobile app and physical locations for making payments.

First-Time Homebuyer Programs

If you are purchasing your first home, and are in need of extra financial assistance, RoundPoint provides two first-time homebuyer program options (offered by Fannie Mae and Freddie Mac): HomeReady®and Home Possible®.

These two programs accept lower credit scores, offer low down payment options, and even allow gift funds to help you confidently make your first home purchase. 

Online Fee Breakdown

RoundPoint Mortgage outlines all fees and fee amounts on its website. Some of these fees include the following:

  • Late charge fee — from 0%–varies
  • Appraisal fee — from $0–$2,000
  • Inspection fee — from $0–$675

Fees are subject to changes and other costs may also apply.

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The Bad

  • Undisclosed Rates

Undisclosed Rates

RoundPoint Mortgage doesn’t publish any mortgage rates on its website. However, RoundPoint does have various mortgage calculators that can help you make affordability and payment estimates.

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The Bottom Line

RoundPoint Mortgage provides a variety of loan types, including renovation loans and reverse mortgages, two loan types that aren’t typically available with other lenders. 

If you are a first-time homebuyer, RoundPoint could be a good choice for you. The lender provides helpful first-time homebuyer resources, and RoundPoint loan officers are available to guide you through each step of the mortgage process.

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c. Hayden

excellent customer service and fast with paper work.

4 years ago