Certified Rate Home Loans

Certified Rate Home Loans Review

Certified Rate Home Loans is offered by Certified Rate (NMLS #1857498), a licensed broker founded in 2019 and based in Manhattan Beach, CA. Certified Rate are available in 50 states (and Washington, DC).

Key Takeaways

• 4 different mortgage programs offered. Certified Rate Home Loans offers FHA, VA, jumbo, conforming, and conventional mortgages.
• Specializes in single-family homes. Only offers mortgages for single-family homes, but not for multi-family properties or manufactured homes.
• Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Certified Rate Home Loans does offer financing for primary and secondary homes (e.g. vacation properties).
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Good credit required. You will need a credit score of at least 680 to qualify.

Certified Rate Home Loans Pros & Cons

Certified Rate FAQ

What is the maximum loan term you can get with Certified Rate?

Certified Rate offers mortgages with a maximum term of 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Certified Rate offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Do they charge mortgage origination fees?

Yes, Certified Rate may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Certified Rate offers the following mortgage types:

• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($726,000 as of 2023).
• VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Certified Rate allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Certified Rate allows the following property usage types: 

• Primary home
• Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for Certified Rate Home Loans is .

What is the support contact email?

The support contact email for is info@certifiedrate.com.