Homebridge Bad Credit Mortgage Reviews

Homebridge mortgage plans are ideal for borrowers with low credit scores and features a wide variety of loan types to choose from. This privately held lending company is based out of Iselin, New Jersey, and operates across 49 US states.

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    About Homebridge

    Since its inception, Homebridge has grown spectacularly, and as recently as 2016 they acquired another major mortgage lender, Prospect Mortgage. They offer a perfect mix of government-backed and conventional mortgage options with bad credit loans. Customers can choose from loan amounts as low as $50,000.

    While most lenders ask for a FICO score of 580 or higher, a Homebridge mortgage with bad credit score may accept even lower numbers. A 550-FICO score is more than enough to get started. The mortgage options are great for first-time buyers or those struggling with a poor credit score. If you’re in the process of repairing your credit score and still need a mortgage, there is no other better option than Homebridge.

    Thanks to an effective online process, exceptional customer service, and 3000+ associates – borrowers with weaker credit scores will find a Homebridge to be a welcome lending partner.

    Home Bridge Financial Terms in a Glimpse

    Minimum Credit Score
    Term Length
    15-30 Years (unverified)
    BBB Rating
    Loan Amounts
    Minimum Down Payment

    What Homebridge Offers

    A Homebridge mortgage generally features competitive interest rates and their options for a mortgage with bad credit can be broadly classified into two groups – niche and mainstream. These options are available across all states (except Utah) in addition to having a great online application process. For most of the government-backed loans, they accept very low credit scores. Down payments start as low as 3.00%, however, you should be aware that they do charge origination fees for certain loan types.

    Apply Online

    Homebridge has a well-maintained and resourceful website. You can directly click on Find a Loan to start or connect with a consultant over the phone or in-person depending on your state of residence. You can apply for loans from anywhere in the US, the one exception being Utah. One of the best features is a detailed website that helps even a first-time buyer make an informed decision.

    Home Loans

    With over 25 years of experience, this institution has the most varied mortgage loans available. They are transparent about their process and list everything on their websites. Down payments start as low as 3.00% and the minimum accepted credit score for FHA streamline loans is 550. In certain cases, they accept scores as low as 550 for VA Loans and to access USDA financing, you will need a credit score of at least 600. Most of their loans allow borrowers to choose from 15 to 30 year repayment periods.

    Conventional Loans

    This type of loan isn’t insured or guaranteed by the Federal Government. It features competitive interest rates and a down payment rate of 5.00% or higher (normally closer to 20.00%).


    This is insured by the Federal Housing Administration and has low-tier requirements in terms of credit score and household income. It also is accompanied by a low down payment (3.50% of purchase price), but you’ll need to pay for private mortgage insurance.

    VA Loan

    Chances are that you may even qualify for a VA Loan with a 0.00% down payment if you’re an eligible veteran, active-duty military personnel, reserves member, or an eligible spouse. They have an easy application process. However, you’ll need to provide a lot of supplemental documentation.

    Jumbo & Super Jumbo Loans

    These are high-balance loans that are for amounts above conventional loans. Jumbo loans fall between $453,100 and $650,000. Anything beyond that figure falls under the super jumbo loan category.


    Homebridge needs a minimum credit score of 600 for USDA loans. This loan is mostly for homebuyers in rural areas and some applicable suburban regions. USDA loans also feature zero down payment and lower interest rates.

    Reverse Mortgage

    This mortgage type is reserved for individuals aged 62 and above. It allows homeowners to convert part of their home’s equity into cash and is intended to help elder folks with a fixed-income stay in their homes. It needs a lot of documents, so we recommend speaking with a loan officer.

    Fixed and Adjustable Rate Mortgages

    At Homebridge, you can also apply for both fixed and adjustable-rate mortgages (ARM). Your interest rate remains constant with a fixed-rate mortgage, but the interest charged varies based on the rate-adjustment capping and other loan terms if you opt for an adjustable-rate mortgage.

    How Homebridge Works

    One of the best aspects of Homebridge is the ease of applying for a mortgage with bad credit. You can either apply in-person, through their website or even by calling their toll-free number. If you choose to apply online, you will be routed to Homebridge’s Encompass Loan Center. Here, you will need to submit financial and personal information as required.

    Another way is to fill in the Quick Rate Quote message-box. All you need to do is fill in the information about the property along with your income and liabilities. Once your message is processed, a loan officer will call you and help you move forward with your application.

    Disclosure - Based on the initial validation of documents, applicants may be pre-approved for a loan. Irrespective of the loan, all of the processes require borrowers to review multiple disclosures. You can choose to receive them online, via post, or view them at a local Homebridge branch. The status of your application can be tracked on Homebridge’s portal as well.

    Underwriting & Closing - After meeting all legal requirements, successful applications move to the underwriting phase. A designated underwriter will re-verify the documentation and lock in an interest rate, which is followed by closing. A loan officer will explain to you all the fees and cash required. If everything seems fine, you will be asked to pay an escrow amount, then sign the final documentation at a closing attorney’s office.

    The time needed for approval varies based on your geographical location. In some cases, everything is up and ready within 30 days. In any case, you can always seek an update from the loan officer or track the status online.

    Homebridge Fees and Terms

    We checked the loans offered by Homebridge and found that the required down payment is totally dependent on the type of mortgage, usually ranging from 0.00% to 20.00%. Repayment periods generally last anywhere between 15-30 years.

    If you’re a veteran, an active-duty military member, or a related spouse, you can get financing for up to 100.00% of the value. That means you can get approved without the need to pay a down payment. Moreover, FHA Loans accept low credit scores (550 and above) and a down payment as low as 3.50%.

    Here are the documents you need to get approved sooner-

    • Photo identification (Govt. Issued)
    • Social Security Number
    • Address (2 years)
    • Past and present employment (2 years)
    • Income Sheet (2 years)
    • All financial-related information (checking accounts, mutual funds, stock accounts, etc.)
    • Add debt-related information (car loans, student loans, etc.)
    • Sales contract (in certain cases)
    • Business returns statement (in case you own more than 20%)
    • VA-eligibility proof (for VA Loans)

    Homebridge Customer Service

    Thanks to one of the most resourceful websites, you can find detailed sections explaining everything you need to know from Homebridge before applying. In addition to the online resource, you can also call their toll-free number to speak directly with a loan officer. However, they are missing out on the Live Chat feature which would be a helpful improvement.

    For interested borrowers, you can also check for branches close to your location and schedule a visit. Furthermore, Homebridge partners with Costco to offer additional savings. The application process might not be the shortest, but they have a really helpful customer service team. To reinvent themselves, Homebridge sends out surveys after every successful closing to ensure they are constantly improving their services.

    Homebridge Pros and Cons


    • Loan Variety: Choose from traditional and more specialty mortgage loans options.
    • Online Application: Applicants can complete the entire loan process online.
    • Low Credit Scores Accepted: You might be eligible for a mortgage with bad or weak credit scores, meaning even scores as low as 550.
    • Affordable Down Payment Rates: Homebridge’s specialty loan options mean those down payments can start as low as 0.00% for eligible buyers.
    • Accepts Applications From Self-Employed Individuals: Unlike many institutions, Homebridge allows self-employed borrowers to use bank statements as proof of income for their loan applications.
    • Nationwide Footprint: Homebridge offers loans both online and offline through branch locations and operates across 49 US states.


    • Origination Fees: Homebridge charges origination fees in certain cases depending on the loan type.
    • Lengthy Approval process: In some cases, the approval process may take up to 30 days or more.

    Final Thoughts About Homebridge

    Although they may not have the fastest approval process, Homebridge offers the flexibility to choose from a wide range of mortgages, both conventional and specialty, giving borrowers added choice. Better yet, they can accept lower credit scores and feature competitive down payment rates. Based on this variety and flexibility, Homebridge is accordingly one of the best choices to explore when determining your mortgage needs thanks to helpful online resources, exceptional customer service, and highly accessible loan offerings.