Review of Mr. Cooper Mortgage: Rates, Loan Options, and Customer Satisfaction
Are you in the market for a new mortgage lender? If so, you may want to consider Mr. Cooper Mortgage. This online lender has been gaining positive reviews from customers and offers lower-than-average mortgage rates. However, there are some limitations to be aware of before making a decision.
Mr. Cooper Mortgage, formerly known as Nationstar, is a nationwide lender that operates in all 50 states and Washington, DC. They offer a variety of loan types, including conforming, FHA, VA, jumbo, and home equity loans. While they have many positive customer reviews online and provide easy-to-use digital tools, there are some drawbacks to consider.
One of the main drawbacks of Mr. Cooper Mortgage is that they only offer a handful of loan types. This means that if you are looking for a more niche type of mortgage, you may need to look elsewhere. Additionally, you cannot explore personalized rates online, which may be a dealbreaker for some borrowers.
In terms of interest rates and fees, Mr. Cooper Mortgage offers lower-than-average rates compared to other lenders. However, their fees are on the higher end, with the average borrower paying $6,118 in origination charges in 2022. While you can see some sample rates on their website, getting a personalized rate will require speaking with a loan officer.
Overall, Mr. Cooper Mortgage may be a good choice for borrowers looking for a smooth refinance process or low mortgage rates. However, their limited loan options and inability to explore personalized rates online may be a drawback for some borrowers.
Before making a decision, it’s important to compare Mr. Cooper Mortgage with other lenders to ensure you are getting the best deal possible. Consider factors such as loan types offered, affordability, customer satisfaction, and trustworthiness when making your decision.
Remember, our opinions are our own, and we strive to provide unbiased product reviews. If you’re interested in learning more about Mr. Cooper Mortgage or other mortgage lenders, be sure to check out our full list of partners and advertiser disclosure for more details.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.