Finance of America
NMHL
Personal Service. Better Options. Faster Closings.
Common Finance of America Complaints
Based on publicly available reviews and borrower feedback
Limited Non-QM Options
Some borrowers have reported that Finance of America lacks the variety of Non-QM loan options that other lenders offer, potentially limiting their ability to qualify for a mortgage.
Customer Service Variability
Reviews suggest that the level of customer service can vary significantly depending on the loan officer or branch, which may impact the overall borrower experience.
Rate Lock Issues
A few borrowers have experienced difficulties with rate locks, including delays or misunderstandings about the rate lock process, which can be stressful during the mortgage application process.
Limited Information Online
Some potential borrowers have noted that Finance of America's website lacks detailed information about their loan programs, making it harder to determine if they're a good fit.
Processing Time Concerns
Some reviews mention that the processing time for mortgage applications can be longer than expected, potentially slowing down the homebuying process.
Head-to-Head Comparison
See how NMHL stacks up against Finance of America feature by feature
| Feature | Finance of America | NMHL |
|---|---|---|
| Loan Programs | Standard FHA, VA, and conventional loans | 18+ programs including Non-QM, jumbo, and specialty loans for underserved borrowers |
| Credit Score Requirements | Typically requires 620+ credit score | Options available for credit scores as low as 500 with alternative credit scoring |
| Down Payment Options | Minimum 3.5% down for FHA loans | 0% down VA loans and 3.5% down FHA loans with competitive rates |
| Service Area | Operates in multiple states but with limitations | Licensed in 29 states with nationwide lending capabilities |
| Personalized Service | Loan officer assigned but variability in service reported | Dedicated loan officers with direct contact information for personalized support |
| Pre-Approval Process | Standard pre-approval process | Fast-track pre-approval available through NMHL's online platform |
| Specialty Programs | Limited options for self-employed or non-traditional income borrowers | Specialized loan programs for self-employed borrowers, including bank statement loans |
Why Borrowers Switch to NMHL
More Flexible Underwriting
NMHL offers more flexible underwriting guidelines, making it easier for borrowers with complex financial situations to qualify for a mortgage.
Specialized Loan Programs
Our specialized loan programs, such as our Non-QM and bank statement loans, provide more options for self-employed or non-traditional income borrowers.
Personalized Support
At NMHL, borrowers work directly with a dedicated loan officer throughout the entire mortgage process, ensuring personalized support and guidance.
Competitive Rates and Terms
NMHL offers competitive rates and terms across our range of loan programs, helping borrowers save money and achieve their homeownership goals.
Nationwide Lending Capabilities
With licenses in 29 states and nationwide lending capabilities, NMHL can serve borrowers across the country, regardless of their location.
How to Switch to NMHL
Three simple steps to a better mortgage experience
Review Your Current Application
Start by reviewing the status of your current mortgage application with Finance of America and gather all relevant documents.
Contact NMHL
Reach out to NMHL to discuss your mortgage needs and learn more about our loan programs and competitive rates.
Get Pre-Approved
Take advantage of NMHL's fast-track pre-approval process to get pre-approved for a mortgage and understand your borrowing power.
Compare Loan Offers
Compare the loan offers from Finance of America and NMHL, considering factors such as interest rate, fees, and loan terms.
Lock in Your Rate and Close
Once you're ready, lock in your rate with NMHL and complete the mortgage application process, with guidance from your dedicated loan officer.
Why Homeowners Switch to NMHL
Real reviews from clients who made the switch
Ready to Make the Switch?
Start your application with NMHL in minutes
Our Presence
Click on endorsed states to see our direct resources!
Comparing NMHL and Finance of America: Which is Right for You?
When considering a mortgage lender, it's essential to compare the options available to you. Finance of America is a well-established lender, but NMHL offers a range of benefits that may make us a better fit for your mortgage needs.
Our extensive range of loan programs, including Non-QM and specialty loans, provides more options for borrowers with complex financial situations.
Discover how NMHL's flexible underwriting guidelines can help you qualify for a mortgage.
Loan Programs: NMHL Offers More Options
NMHL provides a diverse range of loan programs to suit various borrower needs, including FHA, VA, conventional, jumbo, and specialty Non-QM loans. Our programs cater to borrowers with different credit profiles and financial situations.
- FHA loans with 3.5% down
- VA loans with 0% down
- Conventional loans with competitive rates
- Jumbo loans for high-balance borrowers
- Non-QM loans for self-employed or non-traditional income borrowers
Explore NMHL's loan programs to find the one that best fits your needs.
Personalized Service: The NMHL Difference
At NMHL, we pride ourselves on providing personalized service to our borrowers. Each borrower is assigned a dedicated loan officer who will guide them through the entire mortgage process.
Our loan officers are knowledgeable and experienced, ensuring that borrowers receive the support and guidance they need to navigate the mortgage application process.
Work with a dedicated loan officer who will support you throughout the mortgage process.
Making the Switch: How to Transition from Finance of America to NMHL
If you're currently working with Finance of America and considering switching to NMHL, the process is straightforward.
Start by reviewing your current application status and gathering relevant documents. Then, contact NMHL to discuss your mortgage needs and learn more about our loan programs.
Take the first step towards a smoother mortgage experience with NMHL.
NMHL vs Finance of America FAQs
NMHL offers a broader range of loan programs, including Non-QM and specialty loans, and serves borrowers across 29 states. We also provide more personalized service with dedicated loan officers.
Yes, NMHL offers mortgage options for borrowers with credit scores as low as 500, using alternative credit scoring methods. We also provide guidance on improving credit scores.
NMHL's fast-track pre-approval process typically takes just a few minutes to complete online, providing a quick understanding of your borrowing power.
Yes, NMHL offers 0% down VA loans for eligible veterans and service members, as well as other low-down-payment options for qualified borrowers.
Yes, NMHL offers specialized loan programs for self-employed borrowers, including bank statement loans that consider alternative income documentation.
To get started with NMHL, simply contact us through our website or give us a call to discuss your mortgage needs and learn more about our loan programs.
Explore More
All competitor information is based on publicly available data and customer reviews as of the date of publication. Finance of America is a registered trademark of its respective owner. NMHL is not affiliated with, endorsed by, or sponsored by Finance of America. Rates, terms, and program availability are subject to change without notice and may vary based on creditworthiness, property type, and other factors. This comparison is provided for informational purposes only and does not constitute financial advice. Contact NMHL for current rates and personalized loan options. NMHL NMLS# 2557591. Equal Housing Lender.