Features

Greenlight Loans is a leading direct lender based in Irvine, California. Greenlight’s main selling points are a fast funding process and top customer service. The company was founded in 2001 and is one of the fastest growing direct lenders in the country.

In 2013, Greenlight Loans was purchased by Nationstar Mortgage, one of the largest mortgage services in the country. Greenlight Loans has an A+ rating with the BBB.

What Are Greenlight Loans Mortgage Rates?

As of March 2016, Greenlight Loans offers rates ranging from 3.089% APR (10-year fixed) to 3.857% (30-year fixed). Borrowers who qualify for a HARP loan can qualify for rates ranging from 3.971% APR to 4.639% APR.

These rates assume a $315k loan, a credit score of 660, and a loan to value rate of 105%. Mortgage rates can change daily. Click the link above to check Greenlight Loans’s latest prices.

What Types Of Loans Does Greenlight Loans Offer?

Greenlight Loans offers fixed and ARM loans both for purchases and refinancing loans.

Greenlight’s fixed rate loans are best for buyers who are planning to stay in their home for many years and want the peace of mind of knowing their rate and monthly payments for the duration of the loan.

Adjustable-rate mortgages, or ARMs, are a good option for people who want a particularly low-interest rate for the short term and are willing to take the risk of interest rates rising in the future. ARMs are particularly suited to buyers who plan to resell in 5 years or less.

Terms range from 10 to 30 years

Greenlight also offers FHA, Homepath, FHA, and HARP Loans to eligible borrowers.

FHA loans are a good solution for borrowers who do not have the credit history to qualify for a regular 30-year loan or who do not have the funds to meet standard down payment requirements.

What Is Greenlight Loans’ Rating?

Greenlight is owned by Nationstar Mortgage, which S&P ranks the servicing giant as “above average” for its loan servicing and “average” as a residential special servicer. Moody’s ranks Nationstar as a Master Servicer of residential mortgages. This rating is based on Nationstar’s strong reporting and remittance processes, solid compliance and monitoring abilities, and below average servicing stability.

Customers give Greenlight Loans mixed ratings. Some clients praise the speed and convenience of its loans. Other clients complain about unnecessary delays and loss of documents.

How Does Greenlight Loans Compare To Other Lenders?

Greenlight Loans is a leading direct lender of mortgage loans, and it is backed by one of the largest mortgage servicers in the United States. Its rates are competitive, and it offers a broad range of mortgage products.

Greenlight Loans’ differentiators with other lenders are:

Faster service. Greenlight Loans uses technology that allows it to prequalify borrowers and sign documents online. Its loans can be funded within 30 days.

Customized mortgages. Greenlights adapts to borrowers needs by offering a wide selection of customizable home loans.

Personal attention. Greenlight assigns a dedicated mortgage professional that stays with borrowers throughout the entire loan application and funding process.

 

 

  • Min Loan
    $300000
  • Max Loan
    $315000
  • Adjustable Rate
  • Fixed Rate
  • Home Equity Loans and Lines of Credit
  • Hybrid Mortgage
  • Jumbo Loan
  • Reverse Mortgage
  • Primary Residence
  • Estate/Trust/Retirement
SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Reviews

Write a Review

Sort by:

  • Rating
  • Date
  • Most Useful

0 votes

After reading negative reviews, I was hesitant to get a home loan through Greenlight. They actually turned by view around and made it positive. The people I worked with were very professional. I did everything through email so it was super easy. I'd use them again and would recommend them.


0 votes

Fantastic experience with Greenlight Financial! I managed to refinance my home loan with them for a much better rate in record time! I never thought I could do all that in under a month. Customer service is excellent and the people are great, too. I highly recommend Greenlight Financial!!


0 votes

After refinancing with Greenlight Financial Services twice, I can say they are a decent company. Both times, everything went smoothly. I had the same loan agent which made the experience a little better. I'm thinking about using them again. I have no apprehensions because they've been great in the past.


0 votes

I have never experienced anything like what occurred with Greenlight Loans. It took them over four months to close my loan refinance. When does it ever take that long when there are no issues to endure? They just worked very slowly and whenever I called, it seems as if THEN they would work on my loan, but not any other time.


0 votes

Greenlight is almost unbearable to work with. They misplaced or lost countless documents that we gave them. It made the process feel like we made a bad decision choosing them. It also felt like we spent half the time just resending them the documents they misplaced. How do you lose so many important documents??


0 votes

This company obviously does not have the same values throughout the entire business. The first person to contact me and handle my inquiry was great. He was super nice and professional. The loan agent I was assigned to was the opposite. He never returns calls and made errors on my paperwork. So unprofessional!


0 votes

Honestly, I feel dumb for doing any business with this company. They are so incompetent, it drives me crazy. I had to send them the same documents over and over again. They even managed to “misplace” signed legal documents! So frustrating. I would steer clear unless you just want a major headache.


0 votes

Actually refinancing with Greenlight was super easy. There were no issues there. I did run into some problems a few weeks after. Turns out, they didn't pay off my original loan on time. Also, they have terrible customer service. Nothing happened in a timely manner, even though I was assured otherwise.


0 votes

As this was my first time refinancing, I asked question after question. My Greenlight loan agent was fantastic and replied to all my inquiries right away. I'd leave a message and get a call back within an hour. He was ready to go when I was, and knew everything that had to be done. His knowledge expedited the process, which I really appreciate.


0 votes

I am so dissatisfied with this company. I've gotten various home loans in my lifetime and they are by far the worst to work with. What sort of company loses documents OVER and OVER again? I really could not believe it. They are terrible and I'm happy I pulled out last minute, because if I had to deal with them for the next 15 years, I'd go nuts.


0 votes

I'm more than happy with Greenlight! After experiencing them for myself, I saw the negative reviews. I'm not too sure where they come from, since my experience was great. I worked with the best people there and would request them again if I ever decided to refinance. So happy with the customer service and prompt responses.


0 votes

Greenlight Financial Services has only caused me and my husband headache after headache. We were looking to refinance, and this company appraised our home at a much lower rate than it was worth. They declined our loan twice, then told us to pay again in order to have it reevaluated. Really? More money just to be declined?


0 votes

I take great pride in customer service, and Greenlight Loans did a good job at exceeding any expectations I previously had. I contacted my loan agent regularly and he was almost always right there to answer my questions. If not, my call was returned within an hour. Very impressed with this good company.


0 votes

Greenloght is a great choice if you are looking to refinance. They made my life a lot easier by guiding me through the process. They let me know what I needed to do, I did it, and that was that. Minimal work was done on my part. With a hectic life, this is greatly appreciated. Highly recommend Greenlight.


0 votes

I refinanced with Greenlight Financial and it was a great pleasure to work with my loan agent. He made the process SO simple on my end. Within a month, it was done. I probably only spent an hour or so doing anything. I got the lowest rate possible, much MUCH lower than I expected. They are highly recommended from me!


0 votes

When a customer complains about how long something is taking, a companies response should not be that they “have too many other clients” to deal with. I know you're busy! I'm busy too. But I can't just put important things on the back burner. Use another company. They do not care about getting your loans closed.


0 votes

I gave Greenlight Financial Services a shot with my refinancing. They ended up doing everything wrong. Initially, they gave me a closing deadline of thirty days. It ended up taking just over sixty. Then, when my rate lock expired, they wanted to charge me fees to extend it. That's ridiculous. They are just a hassle.


0 votes

I got to the point with GFS that I just decided to quit. It may have been that they were just extremely busy and had too much going on, but I felt like they just told me things to tell me something. Not to actually help me. I had to extend my lock over and over, with fee charges each time. They are not worth the time for the level of service they provide.


0 votes

Greenlight Loans has zero communication within its departments. I was emailed one thing by someone, then told another thing over the phone. Nothing was communicated across the board and it created issues for me. It was the most annoying and irritating thing in the world. I would never use them again.


0 votes

When you literally get tired of a company and how long they are taking, you know something is seriously wrong. After our given closing deadline passed, we contacted another company. They got us up and going immediately, and closing occurred soon after. I just got tired of dealing with GFS's long winded process and constant document submitting.


0 votes

The people at Greenlight Financial caused my wife and I to be late at closing. I have never worked with a company that LOST our signed paperwork, then requested we send it to them again. Greenlight needs to get their stuff together because they make it very frustrating for people to get loans with them. I don't think we will be choosing them again.


0 votes

I am not a loan professional by any means, but I've gotten a few refinances done in the past. I spent almost two months with Greenlight Loans and they didn't do anything for me. I managed to contact another company, who worked quickly to make up for the time Greenlight Loans wasted. Thank goodness.


0 votes

Worst experience ever! Greenlight is extremely unorganized, to the point where they don't even know who they are speaking to. My loan officer has called me the wrong name on a few occasions, and has repeatedly requested the SAME documents over and over again. I'd suggest going with a company that is more organized, because Greenlight is not.


0 votes

A month and a half goes by and these guys haven't even processed my home refinance. I got so fed up I inquired with a different company. After quitting Greenlight, the other company got everything done within weeks. I don't think the people at Greenlight are knowledgeable enough to handle your loans.


0 votes

I really don't know why this company is SO unresponsive! After submitting the necessary paperwork, I called, emailed, left messages.. and nothing. No response for months. I contact them later after going with another company and all of a sudden they are interested in closing the deal. No thanks.


0 votes

Greenlight Financial uses a bait and switch tactic. I was told through email that I have a rate lock and then the company went back and told me I didn't. I've given the emails as evidence and they just told me that they cannot honor the lock. What a waste considering they took so long to process the loan, so I didn't have a choice but to finish it with them.


0 votes

I don't have a stellar credit score, so I was extremely shocked to get such an amazing rate through Greenlight Financial. It was so much better than I ever thought possible. The team there is pretty good- they were friendly enough and responsive. I really have no complaints other than I thought it took a little longer than it should have.


0 votes

The bait and switch technique this company uses is really frustrating. I had a rate lock and when it took longer than expected, my loan agent emailed me promising an extension. Turns out, they don't honor what one person says. I never got that rate lock extension. Dealing with them was too much, but after almost 5 months, I couldn't turn away.


0 votes

Greenlight is irresponsible, unreliable, and just plain bad. I have never had to change my closing date SO many times (3 to be exact). When I complained, various people blamed one person in particular, even though the issues came from clear disorganization and a lack of communication.


0 votes

Greenlight is the most unreliable company. It took them MONTHS to process my home loan. MONTHS! I've had multiple mortgages and loans and it has never been that long. There seems to be no communication within the company, so good luck trying to reference back to something someone told you.


0 votes

The level of customer service this company has is just horrendous. I've spoken with a total of three people from Greenlight. One of them was okay. The other two were just rude. It seems as if they lure you in with the ‘nice' person then switch to who you are really going to deal with. I even had to hang up on what of them, when I got tired of hearing their attitude.


0 votes

Soon after I contacted Greenlight I knew it was a mistake. My first contact was very pleasant. She was friendly and courteous. But when I actually started the loan process, everything went awry. My closing has been switched various times and now we are so late on everything. It is all on their end and I'm not too sure what to do.


0 votes

I have never refinanced as quickly as I did with Greenlight Loans. My other loans took months to process, this one took approximately three weeks. I'm astonished at that time difference! The service is pretty good, but I'm most impressed with the time frame. Good experience!


0 votes

With an excellent credit score, you'd think refinancing would be a breeze. Nope, not with Greenlight Financial. It took HALF A YEAR for them to get it all done. This is really way, way too long. They were very unorganized throughout the entire process. I will never do business with them again, nor will I refer them.


0 votes

It took Greenlight Loans an astonishing six months to complete our refinance process. Yes, six months. I have never, ever worked with a loan company for so long. Apparently, they had issues processing our documents and had errors with our names. Such a bad experience. Never again.


0 votes

No, this company is not worth the aggravation they will cause you and your family. We did everything they requested of us, and then just seemed to fall off the face if the planet. No phone calls, no emails. Nothing. We waited and waiting, extremely confused, and then just gave up. They are so unreliable and will do nothing for you.


0 votes

Greenlight Financial is one of those companies that you don't have to babysit in order to get anything done. Let me tell you, it was a pleasant surprise to work with such a competent team of individuals. They were informed and on top of everything that needed to be done. I didn't have to hold anyone's hand!


0 votes

These guys are fantastic. The loan agent I got was really great. He was a smart individual with working experience in the loan industry. He brought all that to our loan and made it a quick, simple process for us. It all took just around 1 month. We highly recommend Greenlight Loans. We are very happy with them.


0 votes

I honestly couldn't believe that Greenlight Financial Services refinanced my home loan in under three weeks. That's record time, if you ask me. The two people I worked with from Greenlight were simply amazing. Both were so attentive and professional. Definitely will be using them again in the future.


0 votes

Greenlight Loans is an okay company. My loan officer was friendly enough and kept in contact with me the entire time. There wasn't anything fantastic that happened, nor did anything really go awry. I'd recommend them because they seemed to get the job done as needed. But don't expect anything above and beyond.


New Review for Greenlight Loans

Rate your experience:

Cancel

Other Home Loans companies