Pros and cons of Mission Loans
Mission Loans Pros:
- Provides conventional, FHA, VA, jumbo, and bank statement loans.
- Offers low down payment choices.
- Maintains high customer satisfaction ratings on Google.
- Features an entirely online application process.
- Includes a pre-approval tool to help estimate budget.
Mission Loans Cons:
- Origination fees are much higher than the national average.
- Mortgage rates trend higher than other lenders.
- Does not publish interest rates on its website.
- Does not offer USDA loans for rural buyers.
- Few branch locations limit in-person service.
Mission Loans mortgage rates
Mission Loans interest rates often trend higher than the national average. The lender does not publish rates on its website, so you need to speak with a loan officer or apply online to get a personalized quote.
We used HDMA Act data to calculate average interest rates for Mission Loans’ most common loan types. The table below shows the averages you can expect based on recent lending activity.
| Loan Type | Average Interest Rate |
| Conventional 30-Year | 8.94% |
| Conventional 15-Year | 8.54% |
| FHA 30-Year | 6.33% |
| VA 30-Year | 6.21% |
Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).
Remember that interest rates vary a lot by customer. Your rate depends on your credit score, down payment, loan type, and home price. That means you shouldn’t take average rates (or advertised rates) at face value. Instead, pick three to five lenders you’re interested in and get rate quotes from each. Then, compare the interest rates, closing costs, and other fees you’re offered to see which lender can give you the best deal.
Find your lowest mortgage rate. Start hereMission Loans Review for 2025
In 2025, Mission Loans remains a fully digital mortgage lender catering to homebuyers and homeowners. The company provides a seamless online experience for both purchase and refinance loans, assisting borrowers at every step with a secure platform that enables document uploads, application tracking, and direct communication.
This Mission Loans lender review covers a broad range of services. The lender offers conventional, FHA, VA, jumbo, and bank statement loans for self-employed applicants. It also provides refinance options, including rate-and-term refinancing and closed-end second mortgages for those looking to tap into home equity without changing their primary loan. Mission Loans focuses on digital convenience and flexible loan types to meet a wide range of borrower needs in 2025.
Affordability
Mission Loans scores far below average on The Mortgage Reports affordability index. Its average origination fee is $4,239, significantly higher than the national median of $2,792. Its interest rates also tend to be higher than those offered by many other lenders, which may increase the total cost of the loan over time.
The lender does offer the Family Plus program, which waives lender origination fees if you refinance through Mission Loans after closing your original loan with them. This benefit applies to most standard loan types and can help lower future borrowing costs, but it does not offset the lender’s higher upfront pricing for new borrowers.
Lending flexibility
Mission Loans provides various loan options, including FHA loans that require a 3.5% down payment and a minimum credit score of 580. For conventional loans, a minimum down payment of 3% and a credit score of 620 are necessary. The lender also offers VA loans for qualified veterans, jumbo loans, and bank statement loans for the self employed or individuals with non-traditional income.
They also have closed-end second mortgages available for homeowners looking to borrow against their equity without going through a refinancing process. However, Mission does not provide USDA loans, meaning rural home buyers must seek alternatives.
Trustworthiness
Mission Loans holds a 4.8 out of 5 rating on Google, based on over 200 customer reviews. Many borrowers note strong communication and responsive service. However, the lender is not accredited by the Better Business Bureau and has received complaints about processing delays and third-party services.
According to the Consumer Financial Protection Bureau (CFPB), Mission Loans has fewer customer complaints than the national average. This suggests that most borrowers complete their loan processes without significant issues.
Customer experience
You can apply for a mortgage with Mission Loans using a simple online form. Start by choosing whether you want to buy or refinance, and then follow the steps to submit your application securely. You can also prequalify by providing basic financial information. If you are ready to proceed, you can apply for preapproval. This process includes a credit check and gives you a clearer idea of what you can afford.
Mission Loans offers home loans in over 30 states, including California, Texas, Florida, New York, and Illinois. While the lender emphasizes online service, it also maintains physical branches in cities such as Irvine, California, and Heath, Texas. After applying, you can log into a secure portal to check the status of your application. If you have questions or need assistance, contact their support team via phone or email.
FAQs about Mission Loans
Mission Loans provides various loan options: FHA loans requiring just 3.5% down, VA loans with no down payment for qualifying veterans, USDA loans for rural properties that also come with no down payment, and conventional loans starting at 3% down. Additionally, they offer bank statement loans for self-employed borrowers and closed-end second mortgages to access home equity without refinancing.
You need a credit score of at least 580 to qualify for an FHA loan and 620 for a conventional loan. VA loans usually require a minimum score of 620.
Yes, Mission Loans supports first-time buyers with FHA loans that require only 3.5 % down and conventional loans with 3 % down. Eligible buyers, such as veterans, active-duty service members, and surviving spouses, can also use VA loans, which require no down payment.
You can apply directly on the Mission Loans website by selecting purchase or refinance and completing the online form. You can also start with prequalification or preapproval to better understand your loan options and home-buying budget.
The Family Plus Program waives lender origination fees when you refinance through Mission Loans after closing an initial loan with them. It applies to most loan types, including FHA, VA, and conventional. It does not cover HELOCs, closed-end second loans, or loans that already include down payment assistance.
Is Mission Loans the best mortgage lender for you?
This Mission Loans lender review presents a company that may be a good fit if you want a fully online mortgage process and need access to various loan types, including options for self-employed borrowers and veterans. The lender receives strong customer reviews and offers tools that make the application process simple and fast.
However, Mission Loans charges higher-than-average fees and does not publish its mortgage rates online. If you want the lowest possible interest rate and closing costs, consider comparing offers from other lenders before deciding.
Find your lowest mortgage rate. Start hereHow The Mortgage Reports scored Mission Loans
The Mortgage Reports evaluates and ranks lenders based on four key factors, each weighted to reflect its impact on the borrowing experience.
- Customer experience (20%): Examines the lender’s digital and service accessibility, including the availability of an online pre-approval or pre-qualification process, ease of contact, and the presence of a current rates page on their website.
- Affordability (20%): Assesses the average origination charges and the average interest rate the lender offers.
- Lending flexibility (40%): Evaluates the lender’s minimum down payment and credit score requirements, as well as the availability of FHA, VA, and USDA loan options.
- Trustworthiness (20%): Measures customer satisfaction and reliability based on Consumer Financial Protection Bureau (CFPB) complaints per 1,000 loans and ratings from reputable third-party review platforms such as Trustpilot.
