Since 2006, LenderFi has been providing its customers with lower cost mortgages. Our mission is to make the borrowing process simple and easy. Using our state of the art interactive online system, we are able to eliminate unnecessary expenses that translate into savings for our customers.
As a licensed direct lender, we are able to process the loans from origination to closing, using our own money to fund the loans. This in-house processing allows us to work more efficiently and process the loans faster. The savings from these are then passed on to our customers.Simple, Easy & Quick
Borrowing should not be complicated. Our goal is to make the process as simple and easy as possible. And the price you see is always the price you get. Searching our rates will display up-to-the-minute results without having to enter any personal information. By applying online, you can get your loan approved and lock in your rate in just minutes.
The entire process was easy, and moved along nicely. LenderFi's Loan Officer Michael Urnecli was always responsive and was easy to work with. The online portal is very convenient. Loan processesor Cheryl made sure we had all our information. I had a wonderful notary. Amrock Title was quick and efficient. In just two weeks, I started this process, and now our refinance loan has closed. Now, I have a second home I'm now awaiting to refinance. Thank you LenderFi!
To take advantage of lower refinance mortgage rates, I started shopping around. Got rates from multiple different sources (including big international banks, local credit unions, and many online lenders). Credit report is not impacted if getting rates within 14 days of first credit check.
Nobody even came close to match the rates offered by LenderFi, let alone beat them.
Ryan/David were very helpful in helping me understand my options, and also advice me on what would be better for me. The team is super responsive and gave me the locked loan estimate document in 1 day.
The entire process was easy, and the online uploading of documents was really helpful. Although, I had to do a bit of extra legwork than expected, but it saved my hundreds of dollars in unnecessary fees.
Rebecca was able to get me my closing disclosure in a little over 3 weeks but I was not in a hurry as the rate was locked, and it was just a refinance, but if needed, LenderFi will be able to close out the loan much sooner than that. She was also very patient in helping me understand the different numbers on the document. Mortgages can get real tricky real fast.
Do shop around, but I'm sure you'll end up working with LenderFi.
Would highly recommend them.
Fast, efficient, great rate, extremely low closing costs. Started the process on June 11 and closed June 22. Anthony Assi was main person worked with but 5 stars for all who were involved.
Thank you Len*****.com for working so hard with us to get us our perfect home. Lenderfi has helped me purchase 3 homes and refinance over the years. Never have I gotten a bait and switch. Every process has been different, but I was supported thru each step, always in the know, no surprises. If you are in search of honest, hard working for you mortgage company, don't look any further than with Lenderfi!
Lenderfi was so amazing in helping us close our home in 15 days. We were in jeopardy of loosing the home we loved because we did not shop around and almost got screwed by another mortgage lender. However we found Lenderfi and everything went smoothly. Our Loan Office Ryan Scholer was extremely amazing and helpful in starting the loan process. His sense of humor also helped to ease the process after frustration with prior lender. Our loan processor Mike Bitar was equally amazing, extremely funny and always there to answer any questions ("no such thing as a stupid question").He got us to the finish line. Both are highly recommended, you will not regret it . Thank you so much fellas, you are truly appreciated .
LenderFi is a national online lending platform that launched in 2006. Based out of Pacific Palisades, Calif., the company offers a “100% online” digital mortgage option that allows borrowers to apply for a loan and receive an initial approval within minutes. The company was named one of LendingTree’s top customer-rated lenders in 2017.
As of September 2018, LenderFi was licensed in 45 states and the District of Columbia. The only exceptions being Hawaii, Missouri, Nevada, New York and Utah. The numbers of branch locations and loan officers were not available on LenderFi’s website, and the company does not publicly note its minimum credit score and other lending criteria. Representatives from LenderFi were not available for comment.
The offer you ultimately receive will depend on appraisals and the supporting documentation you provide with your application, as noted on the LenderFi website. However, you can create an account and receive a quote within 15 minutes, and you are under no obligation to work with LenderFi for requesting the quote.
Based on the options given in LenderFi’s purchase mortgage calculator, the company will make loans for the following property types:
LenderFi promises a fully digital application process for borrowers. You can get started by searching rates for either a purchase or refinance loan. For a purchase loan, the rate search tool allows you to input data, such as the zip code in which you plan to live, the purchase price of the home, your down payment amount and your credit score range. You may also add details, such as the type of property you want to buy and whether it will be your primary residence, your monthly income and debts, and whether you’ve experienced a foreclosure or bankruptcy in the past. Once you submit that information, you’ll be able to see potential loan rates.
If you’re looking for a refinance loan, you’ll use a similar online tool, but you’ll input your current zip code and property value, as well as your current loan balance, desired cash-out amount and credit score range.
The first step toward applying for a LenderFi loan is to create an online account. To do so, you’ll need to fill out a digital form with your name and basic contact details, as well as the state in which you plan to buy your house. The company advertises that you can begin closing your loan within 15 minutes of creating the account and that you may be able to fully close your loan within two weeks. Purchase loans may close within eight days. Although the application appears to take place entirely online, you can call a LenderFi loan officer to ask any questions you have about the process.
LenderFi bills itself as providing “the most competitive fees for any rate you choose with the
least amount of paperwork and the fastest turn times of any lender in the nation.” The company manages your loan from origination to closing, and it is also the servicer, so you’ll deal with LenderFi directly throughout the life of your mortgage.
On its website, LenderFi declares that “paperwork is the enemy!” and says it strives to avoid it as much as possible via technology. However, it does not elaborate on its document submission process and whether e-signings and e-closings are available options.
You may request your rate lock after choosing an offer, and rate locks are valid for 30 days. If there’s a delay on your end in submitting your disclosures and supporting documents, and that delay causes the closing to take more than 30 days, you’ll have to pay for a rate-lock extension to keep the same rate. However, if the delay occurs on LenderFi’s end, your rate will be extended for seven days for free.