LenderFi: Current Mortgage Interest Rates, BBB Ratings & Scam Report

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Editor's Rating

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Dallas, Texas based LenderFi is a licensed mortgage banker founded in 2006. LenderFi is licensed in 44 states including the District of Columbia. LenderFi is a direct lender and also an UpFront Mortgage Lender (UML), a designation created by the Mortgage Professor, Jack Guttentag.

LenderFi was created in 2006 for the purpose of originating mortgage loans over the Internet. The company has invested heavily in its online platform, which cuts out much of the overhead that you will find at other mortgage lenders. LenderFi primarily advertises itself on the Internet via websites such as RateZip. This is also a positive for consumers, as it means the lender must maintain home loan rates that are extremely competitive when shopped against other offers.

There are other positives to consider when working with LenderFi. First, the company handles the entire lending process, from taking your application to processing the application to closing the loan. Working with a direct lender like LenderFi means that you'll be well informed of where your loan is in the process every step of the way. Additionally, LenderFi has a reputation for working much faster than most banks and mortgage lenders, and the company advertises the fact that it can close purchase loans, often a more difficult loan to process, in as little as two weeks. Finally, LenderFi has an A+ rating from the Better Business Bureau.

LenderFi's product selection is also top notch. The company offers 15, 20, 25, and 30 year fixed rate mortgages, 10/1, 7/1, 5/1 and 3/1 adjustable rate loans (ARMs), Home Affordable Refinance Program (HARP)/DU Refi Plus loans, and jumbo mortgages – fixed and adjustable rate – up to $2 million.

This bank profile is not an endorsement or advertisement for the bank's products and services.  RateZip is an independent publisher of bank information.

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