Churchill Mortgage Review 2023
Churchill Mortgage at a glance
| Minimum credit score: 620 Minimum down payment: 0% to 3.5% Available loan products and programs: Conventional, FHA, VA, USDA, jumbo, no-credit-score loans |
Our verdict: Churchill Mortgage is a good fit for borrowers with at least a 620 credit score to buy a home. They also offer a “no-score” program for borrowers who are avoiding using credit but need a loan to buy a home.
| Pros | Cons |
|---|---|
Mortgage options available for borrowers with no credit scores Wide variety of loan programs including standard government loan programs Full credit approval program for borrowers who haven’t found a house | Higher credit standards for FHA loans than FHA requires No home equity loan or HELOC offered No online rate or fee information |
In operation since 1992, Churchill Mortgage is a full-service mortgage company that operates in 49 states and is headquartered in Brentwood, Tenn.
Churchill Mortgage products
Conventional
Churchill Mortgage offers a number of different conventional loan products including:
- Loan terms of 10, 20 and 30 years
- Programs with down payments as low as 3%
- No mortgage insurance on loans with a 20% down payment
Refinance options are available that allow qualified homeowners to:
- Lower their monthly mortgage payment
- Remove private mortgage insurance if they have enough equity
- Switch to a shorter term (such as a 15-year fixed rate) to pay their balance off faster and reduce the total interest they pay
- Replace an FHA loan or adjustable-rate mortgage (ARM) with a conventional loan to save money or avoid a rate increase in the future
FHA
Churchill Mortgage is approved to offer loans insured by the Federal Housing Administration (FHA). Homebuyers may qualify if:
- Their credit score is at least 620
- They have a 3.5% down payment
- They are living in the home they plan to buy as a primary residence
VA
Borrowers retired from or currently serving in the military may be eligible for loans backed by the U.S. Department of Veterans Affairs (VA). Features of Churchill Mortgage’s VA loans include
- Financing up to 100% of your purchase or refinance value
- No mortgage insurance regardless of your down payment
Home equity
Churchill Mortgage doesn’t offer home equity loans or home equity lines of credit.
Jumbo
Borrowers who need a loan above the conforming loan limits in their area can choose Churchill Mortgage’s jumbo loan options. Expect a larger down payment and a higher minimum credit score requirement to qualify.
Special programs
USDA home loans. This zero-down program is designed to help borrowers who want to purchase homes in rural areas. The U.S. The Department of Agriculture (USDA) backs the program and sets income limits that usually change every year.
Churchill Certified Home Buyer program. This program allows borrowers to receive a full underwriting review of their application and all financial documents before they are under contract to buy a home. With a standard mortgage preapproval, the loan package isn’t submitted to an underwriter until after you have an accepted purchase offer.
No-score loans. Churchill Mortgage offers a loan for borrowers that have no credit score because they are debt free. The process involves something called a “manual underwrite,” which means the lender determines your eligibility for the loan without a traditional credit score.
Churchill Mortgage rates and fees
Churchill Mortgage doesn’t post its mortgage rates online and advises against relying on lender website rates because they can vary based on a number of factors. The lender’s fees are also not disclosed on the website, although the site indicates buyers will usually pay between 2% and 5% of their loan amount toward closing costs and fees.
| Mortgage rates published online? | |
| Rate information updated daily or weekly? | |
| Lender fees disclosed? |
Churchill Mortgage’s application experience
Clicking on the site’s “Get Started” button takes users to a contact form that is forwarded to a Churchill Mortgage loan officer for a phone call or email. No actual online application form was found on the site, and there doesn’t appear to be a way to send documents digitally.
The website describes a traditional loan process with no mention of a digital portal or electronic closing process.
Churchill Mortgage’s customer service experience
Homeowners with a current Churchill Mortgage loan can contact the lender by:
- Calling 1-888-665-8407
- Emailing the support team at the email address listed on the website.
- Filling out a contact form on the loan servicing center page
There is an interactive map of the U.S. you can click on to find branches and loan officers in your area. You can also call 1-888-562-6200 with general questions.
How does Churchill Mortgage compare to other lenders?
| Churchill Mortgage | Homepoint | Wintrust Mortgage | |
|---|---|---|---|
| Lender rating |  |  | |
| Minimum credit score | 620 | 580 to 620 | Not published |
| Minimum down payment | 0% to 3.5% | 0% to 3.5% | 0% to 3.5% |
| Loan products and programs |
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How we rated Churchill Mortgage
LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.
LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.
Churchill Mortgage’s scorecard: 3/5
Publishes rates online
Offers standard mortgage products
Includes detailed product info online
Shares resources about mortgage lending
Provides an online application