Churchill Mortgage Review 2022

Churchill Mortgage at a glance

Churchill Mortgage says it takes an unusual approach when it comes to mortgage debt: Its goal is to get you to quit paying a mortgage. Churchill Mortgage calls it "debt-free homeownership."

Wait. A mortgage lender advocating a debt-free goal?

Helping clients own a home free and clear is the “Churchill Mission.” It began with debt-free-lifestyle guru Dave Ramsey, then a fledgling radio host, pitching advertising to the company more than 25 years ago. What started as a business relationship ended up informing Churchill’s philosophy of mortgage lending.

Here’s a breakdown of Churchill Mortgage’s overall score:

• Variety of loan types: 5 of 5 stars

• Ease of application: 5 of 5 stars

• Rates and fees: 3 of 5 stars

• Rate transparency: 1 of 5 stars

» MORE: Compare Churchill Mortgage with other lenders

Churchill Mortgage loan types

Churchill Mortgage offers purchase, refinance and jumbo home loans, as well as FHA, VA and USDA government-backed loans. The lender also works with borrowers without credit scores, in a break from the traditional method of determining risk. Churchill doesn't originate home equity loans or lines of credit but will "broker them out," it says. That’s basically handing the loans off to lenders that will make such second mortgages on home equity.

The company says it doesn’t have minimum or maximum loan amounts.

Churchill Mortgage ease of application

You can call the toll-free number on Churchill’s website or select the “Get Started” button and enter contact information to begin the loan process. You can fill out an application on the lender’s mobile app, too.

You can upload documents online, and the company uses e-signatures. Average closing time is 30 to 45 days.

Churchill Mortgage rates and fees

One of the most important considerations when choosing a mortgage lender is understanding what the loan will cost. In order to provide consumers with a general sense of what a lender might charge, NerdWallet scores lenders on two factors regarding fees and mortgage rates, according to the most recently available Home Mortgage Disclosure Act data:

• Churchill Mortgage earns 2 of 5 stars for average origination fee.

• Churchill Mortgage earns 3 of 5 stars for offered mortgage rates compared with the best available rates on comparable loans.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

You can decide to buy discount points — a fee paid with your closing costs — to reduce your mortgage rate.

Deciding whether to pay higher upfront fees is a matter of considering how long you plan to live in your home and how much cash you have to apply toward closing costs when you sign the loan paperwork.

» MORE: "Should I buy points?" calculator

Churchill Mortgage rate transparency

Churchill Mortgage doesn't post interest rates on its website. To get a rate quote, you will need to submit an application for preapproval (Churchill calls this becoming a “Certified Home Buyer”).