Freedom Mortgage Review: Great for VA Loans & Low Fees

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Going through thehome buying process for the first time can be intimidating. That’s why working with a trusted mortgage provider is key.

Your mortgage provider can make or break a deal on a house, so choosing a great provider is incredibly important.

Today, we’ll be covering the ins and outs of working with Freedom Mortgage, a mortgage provider that’s been helping people buy their dream homes for over 30 years!

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Freedom Mortgage Pros and Cons

Every mortgage company has its benefits and drawbacks, and it’s important to take them into account before making the largest purchase you’ll ever make. We’ve outlined some of the benefits and drawbacks of working with Freedom Mortgage below:


  • Lower credit score requirements than most brokers
  • A wide range of mortgage products is available
  • They have plenty of experience working with first-time homebuyers


  • You can’t prequalify online
  • They have a very limited number of locations
  • They don’t offer home equity loans or lines of credit

Freedom Mortgage Overview

Freedom Mortgage is a mortgage broker that has been facilitating home purchases since 1990.  They operate in all 50 states, plus the US Virgin Islands and Puerto Rico.

They offer a wide variety of loans to people of all backgrounds. However, they pride themselves on their mission to assist veterans on the path to homeownership.

>> More: Best VA Mortgage Lenders

What Types of Mortgages Does Freedom Mortgage Offer?

Freedom Mortgage mainly focuses on Federal Housing Authority (FHA) and Department of Veterans Affairs (VA) mortgages. However, that’s not all they offer.

Freedom Mortgage also offers conventional fixed-rate mortgages, adjustable-rate mortgages (ARM), jumbo loans, refinances, and US Department of Agriculture (USDA) mortgages.

Unfortunately, they do not offer home equity loans or lines of credit though.

Freedom Mortgage Qualification Requirements

Since Freedom Mortgage offers FHA, USDA, and VA loans, their credit requirements are a bit laxer than other mortgage providers.

However, a major pain point for many applicants is that you cannot be preapproved for a Freedom Mortgage online.

Unfortunately, to get a mortgage preapproval letter, you will need to call them up and be ready to send over any financial information that they ask for.

Freedom Mortgage Rates and Fees

Unfortunately, Freedom Mortgage does not make it easy to find their rates.  They don’t publish their rates online, and to find the rate they offer you; you have to apply for a mortgage (via phone or in-person).

Once you apply, they will perform a hard inquiry on your credit, which of course, will cause your score to decrease.

When it comes to the fees they charge, they vary from person to person and are dependent on a variety of factors, such as location.

However, you can probably expect to pay about 2-5% of your loan value in origination fees.

Refinancing with Freedom Mortgage

If you own a home already and you’re looking to pull out some of your equity, Freedom Mortgage can help.

As we mentioned before, they don’t offer home equity loans (second mortgages) or lines of credit (HELOCs). However, they do offer mortgage refinance.

Aside from the typical refinances they offer, they also have a program known as the VA Interest Rate Reduction Refinance Loan (IRRRL).

This is a type of low-cost refinance loan designed for existing VA loan holders who are looking to refinance their existing mortgage.

Freedom Mortgage Features and Benefits

Now that we’ve gone through all the technical details behind Freedom Mortgages, we’ll now take a look at some of the more intangible benefits of having a mortgage through them.

We’ve outlined some of their most noteworthy features and benefits below:

Eagle Eye Program

Although Freedom Mortgage doesn’t have many online features, they do have a helpful program known as “Eagle Eye.”

This service will alert you via text when interest rates decrease, or a better offer is available.

This can be incredibly helpful for those who are in the very early stages of the home buying process, as knowing the trajectory of rates can be a very important tool.

Supports Local Communities

When you get your mortgage through Freedom Mortgage, you can rest assured knowing that you’re doing business with a company that gives back to local communities.

Aside from their lax requirements for VA, FHA, and USDA loans, they also give back to communities across the country by donating large sums of money to charities, such as Feeding America.

Military Friendly

One of the largest communities that Freedom Mortgage supports is the US military. They know the importance of giving back to the men and women who serve our country, and they do so through generous donations to organizations like the USO.

Additionally, they are incredibly accommodative when it comes to their VA loans.

How Does Freedom Mortgage Compare to Other Lenders?

When looking for a mortgage provider, it’s always good to see how a particular provider stacks up against the competition.

To help you make a more informed decision, we’ve compared Freedom Mortgage with some of their top competitors below:

#1. Freedom Mortgage vs. Veterans United

Freedom Mortgage and Veterans United are similar in many ways. They both are some of the largest VA lenders in the US and have a track record of helping our veterans and active-duty military members.

Neither of the brokers offers home equity loans or lines of credit, but they do offer FHA, USDA, and conventional loans, among a few others. This makes them both a great option if you’re looking for a non-VA loan.

At the end of the day, if you’re making a choice between Freedom Mortgage and Veterans United, the determining factors are likely just their customer service and the interest rate they give you. The products that they offer are very similar, so it really comes down to the fine details.

#2. Rocket Mortgage vs. Freedom Mortgage

Rocket Mortgage is one of the leading online mortgage providers, and they share very few similarities with Freedom Mortgage.

Rocket offers practically every type of mortgage under the sun, and the best part about them is that the entire mortgage application process can be done online.

If you’re looking to get your mortgage through a leading online mortgage broker, then Rocket might be a good choice.

However, if you’d prefer a more personal touch in your mortgage application process, or you’d like to work with a broker that deals almost exclusively with VA loans, then Freedom Mortgage might be the broker for you.

>> More: Rocket Mortgage Review

#3. Freedom Mortgage vs. Better Mortgage

Like Rocket Mortgage, Better Mortgage is an online mortgage provider that caters more to the general home buyer.

They have a sleek website where you can go through the entire mortgage application process online.

This means that you can be preapproved and close with incredible speed. Better Mortgage also has their signature “Better Price Guarantee.”

One area where Freedom Mortgage differs from Better Mortgage is that Better Mortgage does not offer VA loans.

So, if you’re a veteran or active-duty service member looking for a VA loan, Better Mortgage will not be able to help you.

>> More: Better Mortgages Review

#4. NASB Mortgage vs. Freedom Mortgage

Chances are, if you’re looking for a mortgage provider that supports America’s military, you’ve stumbled across North American Savings Bank (NASB).

They are a mortgage provider that operates in all 50 states and has a similar suite of products to that of Freedom Mortgage.

When it comes to an online experience, NASB has Freedom Mortgage beat by a mile. Their website is clean, easy to use, and you can apply for a mortgage online after creating an account.

They also allow you to e-sign and upload any required documents right on their site. If you are looking for a mortgage provider that gives back to our service members and has a sleek online application process, then NASB might be the mortgage provider for you.

>> More: NASB Mortgage Review

Freedom Mortgage FAQs

After reading through all that information, you almost definitely have some questions. If you do, don’t worry.

To ease your mind a bit, we’ve addressed some of the most common questions that home buyers have below:

Is Freedom Mortgage a Good Choice for Mortgages?

If you do not care about online functionality and prefer a more personalized touch to the mortgage application process, then Freedom Mortgage is a great option.

However, if you’re looking for the online functionality of a large online lender such as Rocket Mortgage, you might want to keep looking.

Does Freedom Mortgage Offer Mortgage Refinance?

Freedom Mortgage does offer limited ability to access the equity in your home.

If you’re looking for a home equity loan or home equity line of credit (HELOC), you may want to look elsewhere because Freedom Mortgage does not offer those products.

But, if you’re willing to go through the mortgage application process again, they do offer mortgage refinances.

What Credit Score Do You Need for Freedom Mortgage?

You can qualify for a VA, FHA, or USDA loan at Freedom mortgage with as little as a 580-credit score.

Please keep in mind that you might be better off renting until you can build your credit back up if you’re in this situation. Although you will be eligible for a mortgage, you will certainly not get the best rates.

Is Freedom Mortgage a Direct Lender?

Freedom Mortgage is unlike most other mortgage providers out there.  Most mortgage providers are just brokers – this means that they act as a middleman, connecting buyers with lenders.

Whereas Freedom Mortgage can act as either the broker or the mortgage lender. The fact that they can act directly as a lender is why they can have such lenient requirements on their loans.

Is Freedom Mortgage a Subprime Lender?

Subprime lenders got a bad reputation stemming from the economic collapse of 2008, but subprime lending isn’t necessarily a bad thing.

Subprime lending is just offering credit to those with bad credit for a premium. Freedom Mortgage offers loans to many borrowers with credit scores as little as 580, making them a subprime lender.

Bottom Line: Freedom Mortgage Review

At the end of the day, Freedom Mortgage offers a decent product. However, the complete inability to go through the mortgage process online is a huge drawback.

In an increasingly online-based society, having the ability to do certain things over the internet is crucial for most people.

However, if that does not bother you and you prefer to do your business on the phone or in person, Freedom Mortgage could be a great choice for you.

They have a team of seasoned mortgage professionals specializing in helping those with unique situations, like veterans and first-time homebuyers.

Zach Hewke
Zach Hewke

Zach Hewke is a Personal Finance Writer who holds a Bachelor’s degree in Mechanical Engineering from Clarkson University. He is a personal finance expert who specializes in Mortgages and helping consumers land the home of their dreams. Zach’s area of expertise is mortgages, credit cards, and generation z personal finance.