Churchill Mortgage

Churchill Mortgage Review

Churchill Mortgage is offered by Churchill Mortgage Corporation (NMLS #1591), a direct lender founded in 1992 and based in Brentwood, TN. Churchill Mortgage is available in 50 states (and Washington, DC).

Key Takeaways

• 5 different mortgage programs offered. Churchill Mortgage offers FHA, FHA 203k, USDA, VA, jumbo, conforming, and conventional mortgages.
• Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
• Standard interest rates types. Churchill Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
• Only primary residences considered. Churchill Mortgage does not offer financing for vacation homes or investment properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Origination fees of up to 5%. This is on the high end when compared to the other lenders SuperMoney tracks. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
• High maximum LTV ratio. Churchill Mortgage has a maximum loan to value ratio of 97%, which is higher than average. Most lenders want you to have at least 20% equity.
• Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for Churchill Mortgage.

Churchill Mortgage Pros & Cons

Churchill Mortgage FAQ

What is the maximum loan term you can get with Churchill Mortgage?

Churchill Mortgage offers mortgages with terms ranging from 15 to 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 Churchill Mortgage Corporation 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.

Churchill Mortgage offers home loans with APRs starting at 2.782% .

Do they charge mortgage origination fees?

Yes, Churchill Mortgage may charge a loan origination fee of 2% to 5% of the loan amount.

What mortgage programs are available?

Besides conventional mortgages, Churchill Mortgage 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%.
• FHA 203k: An FHA mortgage you can also use to finance home improvements.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
• USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
• 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 is the customer service phone number?

The customer service number for Churchill Mortgage is (888) 665-8407.

What is the support contact email?

The support contact email for this business credit card is servicing@churchillmortgage.com.