Wyndham Capital Mortgage Review for 2021

Wyndham Capital is a primarily online mortgage lender with a wide range of home buying and refinance loan options. Learn more about Wyndham Capital here.

Wyndham Capital
Minimum down payment3%
Minimum credit score580
Loan Products Offered

Fixed–rate mortgage
Adjustable–rate mortgage
FHA mortgage
VA mortgage
USDA mortgage
Jumbo loan

Best Features

  • Rate transparency and no loan origination fee
  • On-time closing guarantee
  • Wide selection of home loans for purchases and refinances

Drawbacks

  • Limited number of branch locations
  • Not licensed in every state
  • No home equity loans

Overview

Wyndham Capital uses innovative digital tools to create an online mortgage experience that’s fast and transparent.

Whether you’re buying a home or refinancing your mortgage, Wyndham Capital’s knowledgeable loan experts can help you find the right loan for your needs. Options include conventional loans, fixed– and adjustable–rate mortgages, jumbo loans, and government–backed loans.

The company also offers online tools such as affordability calculators and plenty of resources to help you understand the loan process.

But while Wyndham Capital receives positive reviews from customers, the lender has few physical branches. So borrowers should expect a mostly digital experience.


Wyndham Capital mortgage rates

Mortgage interest rates vary from lender to lender, so it’s important to shop around and compare rates and fees. Factors that influence rates include market trends, a borrower’s credit history, and the size of their down payment.

In 2020 (the most recent data available), Wyndham Capital’s average 30–year interest rate was slightly lower than top lenders, thus allowing its customers to save on mortgage–related costs.

Average mortgage rates at major lenders

  Wyndham Capital Rocket Mortgage Wells Fargo Freedom Mortgage
Average 30-Year Interest Rate, 20201 3.07% 3.20% 3.62% 2.92%
Median Total Loan Costs, 2020 $1,660 $4,610 $3,370 $3,340
Median Origination Fee, 2020 $0 $2,950 $1,280 $0

A cheaper rate wasn’t the only place homeowners saved, though.

Wyndham Capital borrowers also had lower loan costs (on average) compared to other lenders – as much as 50% lower in 2020.

The lender also doesn’t charge a loan origination fee. This is a unique benefit, considering how many lenders charge an origination fee equal to 1% of the loan balance.

Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).

Wyndham Capital mortgage review for

Wyndham Capital uses a variety of digital tools to simplify the mortgage process, often allowing its customers to close faster and more easily.

The company offers conventional loans, jumbo loans, and adjustable–rate mortgages, as well as government–backed loans (FHA, VA, and USDA). Unfortunately, Wyndham doesn’t offer home equity loans.

Borrowers can also choose from a variety of mortgage terms. A 15–year and 30 year–mortgage are common products, yet Wyndham Capital also gives the option of a 10–year and 20–year term.

Wyndham also believes in transparency, so you’re able to check current mortgage rates on its website.

Although Wyndham Capital has a limited number of branches across the nation, eClosing makes it convenient to close anywhere, anytime.

Another notable feature is the company’s $10,000 “on–time closing guarantee” for home purchase loans. If your loan doesn’t close on time, you can receive up to $10,000, split evenly between you and the seller.

Working with Wyndham Capital

Start your mortgage journey by comparing Wyndham Capital mortgage rates with those of other lenders. You can check your rates easily on Wyndham’s website.

Provide your ZIP Code and choose the type of loan you need (new purchase or refinance). Next, enter information about your down payment, credit score, and financial background. You’ll then receive a customized rate quote without haveing to submit a full loan application.

To proceed with a mortgage, complete the online application and upload your supporting documents to the lender’s secure portal for pre–approval.

You can also take advantage of Wyndham’s online tools such as refinance calculators, affordability calculators, and a rent vs. own calculator. This can help you make an informed decision about buying or refinancing.

Wyndham Capital’s online mortgage experience – from digital pre–approvals to eClosing – allows many of its customers to close up to 15% faster than the industry average, according to the company’s website.

Wyndham Capital customer service reviews

Wyndham Capital doesn’t have a J.D. Power Satisfaction score, but it has only five complaints logged against it with the Consumer Federal Protection Bureau CFPB). This is far less than some other lenders.

Customer service reviews at major lenders

  CFPB Complaints, 20204 Complaints per 100 Mortgages, 20205 J.D. Power Satisfaction Score, 20206
Wyndham Capital 5 0.00 Not Rated
Rocket Mortgage 391 0.03 883/1,000
Wells Fargo 554 0.05 840/1,000
Freedom Mortgage 288 0.04 817/1,000

Generally speaking, customers have been satisfied with the level of service and speed of their closings.

On Zillow’s forum, Wyndham Capital has 4.82 stars out of 5 based on 1,220 reviews. Most customers described working with the lender as a “great experience,” and felt their rates and closing costs were reasonable and lower than expected.

Similarly, the lender receives 4.8 stars out of 5 based on 2,100 Google reviews.

Mortgage loan products at Wyndham Capital

Here’s a look at home buying and refinance options with Wyndham Capital:

  • Conventional loan — Choose a fixed–rate home loan with terms ranging from 10 to 30 years, or an adjustable–rate mortgage. Many borrowers can get a conventional loan with a minimum credit score of 620 and as little as 3% down
  • Jumbo loan – These non–conforming loans are an option when purchasing a higher–priced home. To qualify, you need a credit score of 700 or higher and a minimum of 10% down
  • FHA loan – These loans are popular with first–time home buyers and repeat buyers. Get an FHA loan with a credit score as low as 580 and a minimum down payment of 3.5%. These loans are backed by the Federal Housing Administration
  • VA loan – These zero–down mortgage loans are available to active–duty military members, veterans, their surviving spouses, and other select service members. According to a company representative, there isn’t a minimum credit score required for a VA loan with Wyndham Capital
  • USDA loan – This is another zero–down mortgage loan, but to qualify you must purchase a home in an eligible rural area. You need a minimum credit score of 640, and your annual household income cannot exceed the income limit for your area

Wyndham offers home purchase loans for condos, townhomes, and mobile/manufactured homes in addition to the traditional single–family home.

Where can I get a mortgage with Wyndham Capital?

Wyndham Capital has branches in a few select states – Arizona, Georgia, Kansas, Maryland, Missouri, South Carolina, and Utah.

The lender is also licensed in several other states and the District of Columbia. Borrowers can apply online, get a digital pre–approval, and close electronically.

Is Wyndham Capital the best mortgage lender for you?

Wyndham Capital offers a generous selection of mortgage programs and loan terms as well as lower mortgage fees. This lender may be worth a look if you want to reduce your out–of–pocket costs without skimping on service or options.

You can use the lender whether you’re buying or refinancing. But if you’re looking to get cash from your equity, it doesn’t offer home equity loans. Your only option is a cash–out refinance.

Although Wyndham Capital is licensed in most states, it has few physical branches. Only apply if you’re comfortable with a fully digital experience, which involves uploading documents to an online portal and scheduling eClosings.

Sources:

  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using TheMortgageReports.com mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings