Churchill Mortgage Review 2023
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Our Take
3.5
The bottom line:
Offers flexibility for those without credit scores, but its “debt-free” guidance may not appeal to everyone.
Full Review
Pros & Cons
Pros
- Offers loans for borrowers without credit scores.
- Offers digital conveniences such as document uploads and e-signature.
Cons
- Doesn't provide information online about rates and fees.
- Doesn't offer home equity loans or HELOCs.
- Lender fees are on the high side, according to the latest federal data.
Compare to Other Lenders
Min. credit score620 | Min. credit score620 | Min. credit score620 | Min. credit score620 | Min. credit score620 |
Min. down payment3% | Min. down payment3% | Min. down payment3% | Min. down payment3% | Min. down payment3% |
Loan types and productsPurchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA | Loan types and productsPurchase, Refinance, Home Equity, Reverse, Jumbo, Fixed, Adjustable, FHA, VA, USDA | Loan types and productsPurchase, Refinance, Fixed, Adjustable, FHA, VA, USDA | Loan types and productsPurchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity | Loan types and productsPurchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA |
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Full Review
What borrowers say about Churchill Mortgage
NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from Zillow.
Churchill Mortgage receives a customer rating of 4.96 out of 5 on Zillow, as of the date of publication. The score reflects more than 510 customer reviews.
Churchill Mortgage variety of loan types
4 of 5 stars
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. To help clients own their homes free and clear faster, Churchill has what it calls a Smarter Mortgage Plan for every borrower, including cost-saving strategies. The lender also has a mortgage program that doesn't require a borrower to provide a credit score and offers several down-payment options.
Churchill Mortgage offers purchase, refinance and jumbo home loans, as well as FHA, VA and USDA government-backed loans. It doesn't originate home equity loans or lines of credit.
The lender has a program that helps borrowers secure an interest rate and compete with cash offers.
Churchill Mortgage ease of application
5 of 5 stars
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.
Churchill Mortgage rates and fees
2.5 of 5 stars
Churchill Mortgage earns 2 of 5 stars for average origination fee.
Churchill Mortgage earns 3 of 5 stars for average mortgage interest rates.
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.
Churchill Mortgage rate transparency
1 of 5 stars
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”).
Alternatives to Churchill Mortgage
Here are some comparable lenders we review that borrowers can consider.
Carrington offers a similar experience for borrowers with credit challenges, and NBKC offers a comparable online application process.
» MORE: Best online mortgage lenders
More from NerdWallet
Methodology
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).
