At a glance: Freedom Mortgage loan options

Freedom Mortgage is a nonbank lender based in Boca Raton, Florida. Loans are available in all 50 states, plus the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Freedom offers the full gamut of government-backed loans, except for FHA 203(k) loans. Those and other renovation or construction loans are not available.

» MORE: How to choose a mortgage lender

Freedom Mortgage special offers and discounts

Freedom Mortgage offers a couple of ways to get cash back, though they aren't especially generous compared with other mortgage lenders.

• Freedom's Purchase Promise pays buyers up to $1,000 if their loan doesn't close on time because of a lender issue. 

• Home buyers who work with a Freedom Homes partner agent can get $1,000 in cash back; sellers working with a partner agent can save 1% of the home's purchase price on agent commissions. Folks buying and selling at the same time are eligible for both.

What does Freedom Mortgage specialize in?

A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages Freedom Mortgage handles most often.

Freedom Mortgage stands out for its extensive government lending. More than half its loans originated in 2024 were VA loans, and for overall volume of VA purchase loans, Freedom came in third among lenders NerdWallet surveyed. Freedom's average interest rates for VA loans are on the low side, according to the latest federal data, although its average VA origination fees trend high.

How we score Freedom Mortgage

Each year, NerdWallet writers and editors dig into the latest data and independent research on mortgage lending. Then, we rate lenders based on categories that matter most to mortgage borrowers.

Freedom Mortgage has a NerdWallet home loans rating of 3.5 stars overall. Here’s a breakdown of this year’s score.

• The Nerdy details: Our rating system, explainedThe Nerdy details: Our rating system, explained

  Ah, so you’re the “read the fine print” type? We got you. Here’s how our scoring rubric works.

  Average mortgage rates and fees (30%)

  We review federal data (as reported by the lenders) and analyze mortgage lenders’ average fees and interest rates across all loan types. Lenders with the lowest average costs get the highest star ratings. Keep in mind: Loans that are easier to qualify for, like FHA loans, usually have higher rates and fees because lenders see them as a higher risk. Pro tip: Paying some fees upfront can sometimes lower your interest rate.

  Mortgage rate transparency (25%)

  We look at how easy it is to compare mortgage rates online. Lenders get higher transparency ratings if they show sample rates on their website. (Not all lenders do!) The best ratings go to lenders that offer interactive tools that let you customize a rate quote on your own.

  Variety of loan types (25%)

  There’s no one-size-fits-all mortgage. Lenders earn top ratings in this category when they offer a large variety of mortgage types. The more variety, the higher their score. A lender earns points for purchase and refinance; fixed and adjustable rates; FHA, VA or USDA loans; renovation or construction loans; and home equity loans or HELOCs.

  Customer experience (20%)

  How easy is it to work with this lender? Top-rated lenders offer helpful features like online applications, multiple ways to get support, a user-friendly mobile app and clear updates about the loan closing timeline.

Freedom Mortgage bonus points and penalties

Freedom Mortgage earned bonus points for offering conventional loans for manufactured homes and loans geared toward lower-credit borrowers.

» MORE: How to get the best mortgage rate

Freedom Mortgage reputation and customer experience

NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from J.D. Power and Zillow and we contacted the lender’s customer support.

Potential concerns about Freedom Mortgage

The Consumer Financial Protection Bureau has characterized Freedom Mortgage as a "repeat offender" for failing to accurately report mortgage borrowers' demographic information despite regulatory actions. In June 2024, a court ordered Freedom Mortgage to pay a $3.95 million fine to the CFPB, as well as ordering the lender to take extensive measures to ensure compliance with the Home Mortgage Disclosure Act.

This resolved a 10-year dispute over Freedom's reporting of borrower data. Proper reporting of borrower characteristics, like race and ethnicity, is necessary to verify lenders' compliance with fair lending practices.

Since Freedom Mortgage wasn’t penalized by a regulatory agency this year, its current NerdWallet star rating is not impacted. When shopping for a mortgage lender, do an online search to see if the company is in the news, and why.

Freedom Mortgage customer service options

Here’s how you can get in touch with Freedom Mortgage.

» MORE: How to apply for a mortgage

Alternatives to Freedom Mortgage

Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.

If you're looking for a government-backed loan, Rocket does a substantial business in FHA loans, while Veterans United originates the most VA loans in the U.S.

» MORE: See our best lenders for VA loans and FHA loans

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