Mission Loans Mortgage Review for 2024

Mission Loans is an online mortgage lender with excellent customer service reviews. Learn more about Mission Loans here.

Lending flexibility4.3
Customer service5.0
Ease of application5.0
Online experience5.0
Our Score
Mission Loans
Minimum down payment3%
Minimum credit score580
Loan Products Offered

Conventional Loans
FHA and VA Loans
Home Equity Loans
Bank Statement Loans
Investor Loans

Best Features

  • Low-down-payment loan options
  • Flexible debt-to-income ratios
  • Excellent customer service reviews


  • No USDA loans
  • Doesn't show current mortgage rates online


The Mortgage Reports may be compensated by some of the mortgage lenders we review. However, this does not affect our review process or the ratings lenders receive. All reviews are created independently by our editorial team. We review products and services from partner lenders as well as lenders we do not work with.

Mission Loans says it's on a mission to empower borrowers with a "customer-centric loan experience." According to the company, this involves improving communication with its customers and helping them navigate the home buying process from start to finish.

Mission Loans has a relatively diverse selection of loans which includes home equity loans, conventional loans, and government programs like FHA and VA. It provides funding for both new purchases and refinances, and borrowers can choose between a fixed-rate mortgage or an adjustable-rate mortgage.

Mission Loans is licensed in most states but does not have physical branches for in-person applications.

Mission Loans mortgage rates

Mission Loans doesn’t advertise current mortgage rates online. However, its average 30-year rate for 2021 (the most recent data available) was comparable with major lenders. Mission Loans mortgage rates were slightly lower than Wells Fargo, yet higher than Rocket Mortgage.

On average, customers paid more for closing costs with Mission Loans than other top mortgage companies, and its average lender fees were higher, too.

Average mortgage rates at major lenders

Mission LoansRocket MortgageWells FargoFreedom Mortgage
Avg 30-Yr Interest Rate, 202113.09%3.00%3.14%2.66%
Median Total Loan Costs, 20211$5,825$4,670$3,600$3,880
Median Origination Fee, 20211$2,564$2,430$1,330$0

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

To get a personalized rate quote, you’ll need to speak with a Mission Loans lending officer. Different factors influence a borrower’s rate such as trends in the local real estate market, their credit history, and the size of their down payment.

Always compare mortgage rates before buying or refinancing a home loan. Rates vary from lender to lender and getting a competitive rate can lower your monthly payment, possibly you saving tens of thousands of dollars in the long run.

Find your lowest mortgage rate. Start here

Mission Loans mortgage review for 2024

Mission Loans, LLC is an online mortgage lender headquartered in Irvine, California. It offers a relatively diverse range of mortgages suited for different types of borrowers. These include loans for individuals with strong credit histories as well as those with limited cash and higher debt-to-income ratios.

Applicants can choose between a conventional loan, an FHA loan, and a VA loan.

On its website, Mission Loans mentions that FHA loans are available with a credit score of at least 580 and a debt-to-income ratio of 56% or lower. If poor credit is a concern for you, Mission Loans may be worth a look.

Borrowers can also refinance their existing mortgage to get a lower rate or to pull cash from their equity. Home equity loans are an option, too, for those who don’t wish to refinance. Mission Loans doesn’t offer USDA loans.

Working with Mission Loans

Since Mission Loans doesn’t have branches throughout the country, you must apply online and provide supporting documentation electronically through a secured portal. To start the preapproval process, fill out the company’s online form. Select the option for either “refinance” or “purchase” and then choose a specific loan program.

Next, you’ll select the type of home you’re purchasing or refinancing (single-family home, multi-family home, or condominium) and estimate your credit score. Lastly, you’ll provide personal information like your name, address, and phone number.

Submit the information and a loan officer will contact you to discuss your next steps. Be prepared to provide supporting documentation, including:

  • A copy of a government-issued ID
  • Recent bank statements
  • Tax returns for the previous two years
  • Most recent paycheck stubs

Mission uses this information to determine your qualifying loan amount. Once you’re preapproved, you’re ready to make an offer on a home. The lender must complete the underwriting and appraisal process before you can receive final approval and close your loan.

Mission Loans customer service reviews

Mission Loans doesn’t have any complaints filed against it with the Consumer Financial Protection Bureau (CFPB), nor was it rated in J.D. Power’s most recent mortgage origination satisfaction study.

Mission Loans does have a rating of 4.8 out of 5 on Google based on over 200 reviews. Ratings on LendingTree and Zillow are similarly high. Generally speaking, most customers have had a positive experience with Mission Loans. Some described the loan process as “easy and seamless” and “smooth and fast.” Several Individuals were also pleased with their mortgage rates.

Customer service reviews at major lenders

CFPB Complaints, 20214Complaints Per 1,000 Mortgages, 20215J.D. Power Satisfaction Score, 20216
Mission Loans00Not Rated
Rocket Mortgage3760.24876/1,000
Wells Fargo4880.58832/1,000
Freedom Mortgage2620.35829/1,000

Mortgage loan products at Mission Loans

Featured mortgage loan options at Mission Loans include:

  • Conventional loans: A loan conforming to guidelines set by Freddie Mac and Fannie Mae. First-time home buyers can qualify with as little as 3% down and a 620 minimum credit score. You can usually stop paying private mortgage insurance (PMI) after a few years
  • Jumbo loans: Higher loan amounts than conforming mortgages, generally for home loans over $
  • FHA loans: This loan type is backed by the Federal Housing Administration. They’re available to first-time home buyers and repeat buyers with a credit score of at least 580 and 3.5% down. FHA loans also accommodate those with a higher DTI ratio. You can use an FHA loan for a new purchase or refinance or to rehab a primary residence
  • VA loans: These zero-down home loans are available to active-duty military members, veterans, other select military service members, and their eligible spouses. There’s no down payment or ongoing mortgage insurance required, but you’ll need to make a one-time upfront funding fee to qualify
  • Bank statement loan: If you’re self-employed, you can get approved for a mortgage with no tax return. Instead, you’ll qualify for this loan type with bank statements. Though, you’ll need to apply online to find out what kind of deal Mission Loans can offer you
  • Real estate investor loan: This type of loan allows borrowers to purchase an investment property

Mission Loans does not appear to offer USDA mortgages, nor does it have any special assistance programs. However, many home buyers will find what they need with one of the three loan offerings listed above.

Refinancing with Mission Loans

In addition to home purchase loans, Mission Loans also offers refinancing. Homeowners can choose between refinance loans that will lower their monthly payments, reduce interest repayment, or tap home equity.

  • Rate-and-term refinance: Exchange your original mortgage with a new one that offers more favorable loan terms or a lower interest rate
  • Cash-out refinance: Access your home equity by replacing your current mortgage with a new, larger loan amount, and then receiving the difference as a lump sum of cash. This loan type may be ideal for debt consolidation or for those purchasing investment properties

Mission Loans also offers home equity loans.

Where can you get a mortgage with Mission Loans?

Mission Loans doesn’t operate any brick-and-mortar locations, so you can’t apply for a mortgage in person. However, it is licensed to lend in most states and borrowers can apply online or over the phone.

You cannot apply for a mortgage with Mission Loans if you live in the following states:

  • Hawaii
  • New York
  • Rhode Island

Is Mission Loans the best mortgage lender for you?

Mission Loans is an option if you’re looking for an online lender with strong customer service reviews. It offers three of the most popular loan programs, including options for borrowers seeking a low-down-payment loan. However, Mission may not be well suited for borrowers who are not comfortable with an online home buying process.

Compare lenders, mortgage rates, and loan options before you buy or refinance to make sure you’re getting the best deal possible on your new home loan.


The Mortgage Reports considers multiple factors when reviewing lenders. These factors include credit and down payment requirements, loan types offered, customer service indicators, and availability of online tools. We then use these factors to rank lenders in four categories:

  • Lending flexibility: Includes the number of loan types offered, special programs offered, minimum down payment requirements, and minimum credit score requirements

  • Customer service: Includes CFPB complaints per 1,000 loans and average rating from other top rating services

  • Ease of application: Includes the availability of an online pre-approval or pre-qualification process

  • Online experience: Includes the robustness of the lender’s online offerings, including online chat availability, phone number availability, and learning center/help center availability

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  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