Lendevity was founded in 2018 to help home buyers find the right mortgage for their needs. The broker has since closed more than $500 million in loans for more than 2,000 customers. Lendevity currently operates in 6 states: California, Oregon, Washington, Colorado, Florida, and Arizona.
Lendevity works with banks and lenders to help you get the right loan for you. All you have to do is enter basic information about the home you want to buy or refinance, and Lendevity will find relevant offers. You’re not committed to an offer when you request a quote from Lendevity, and there’s no credit check required to get a quote. The platform offers fixed and adjustable-rate mortgages, jumbo mortgages, interest-only mortgages, and VA and FHA mortgages. They also offer non-conventional products such as stated income and bank statement programs.
Lendevity is most suitable for new home buyers who need to find a mortgage and don’t know where to start. The platform makes it easy to match with multiple lenders who offer loans that suit your specific needs. In addition to traditional mortgage products, Lendevity has access to special mortgage programs from its partner lenders that aren’t publicly available. Unlike other mortgage brokers, Lendevity doesn’t charge any broker fees.
Lendevity is also suitable for buyers who want to close quickly. You can get a quote in minutes, then apply online. Lendevity typically closes new loans in as little as 3 weeks.
Importantly, Lendevity only operates in California, Oregon, Washington, Colorado, Florida, and Arizona at this time.
Lendevity offers conventional and jumbo mortgages with fixed and adjustable interest rates as well as a few non-conventional products. It also offers interest-only loans, refinance loans, and government-backed FHA and VA loans. Lendevity is not a direct lender, but rather coordinates loans through partners such as Rocket Mortgage, PennyMac, Caliber Home Loans, and Citizens Bank.
You can get started with Lendevity by requesting a quote online or by contacting a mortgage officer by phone, email, or text message. To get an online quote, you must fill in basic information about the home you want to buy or refinance, your credit score, and your income. You must enter your name, email, and phone number to see quotes, but there is no credit check required.
Lendevity will show you a list of several mortgage offers for which you are likely to qualify. If you see an offer you like, you can then apply online through Lendevity. The required documents vary by lender, but most require bank statements and pay stubs to verify your income. You will also need to submit to a credit check as part of the application process.
Loans made through Lendevity typically close in 3 weeks.
Lendevity offers loans with repayment terms from 8-40 years. When requesting quotes, there is no way to specify your desired repayment period or whether you want a fixed-rate or adjustable-rate loan. Interest rates vary by lender.
Lendevity offers customer support by phone, email, and text message. You can get in touch from 8AM-8PM PT 7 days a week, or schedule a phone call ahead of time. Lendevity’s website also has a mortgage calculator to help you estimate your monthly payments.
Here’s how Lendevity stacks up against other top mortgage loan providers.
|Minimum Credit Score||580||580||580|
|Minimum Down Payment||3%||3.5%||3.5%|
|30-year Fixed-rate APR||From 2.71% (varies by lender)||3.63% (average among partner lenders)||From 2.85% (varies by lender)|
|Best For||Comparing loans from multiple providers||Wide range of mortgage options||Range of interest rate offers|
Lendevity is an online mortgage broker that works with dozens of lenders to help you find the right loan for your home purchase or refinance. Lendevity offers fixed- and adjustable-rate mortgages, FHA and VA loans, jumbo loans, interest-only loans, and mortgage refinances as well as a few non-conventional products like stated income and bank statement programs. Rates and terms vary by lender, but most Lendevity loans close in 3 weeks, and there are no broker fees. You can get a quote and apply online, or, if you like, speak to a loan officer over the phone 7 days a week.
Lendevity works with mortgage lenders such as Rocket Mortgage, Homepoint, Loan Depot, PennyMac, Caliber Home Loans, Citizens, Kind Lending, Freedom Mortgage and more.
Lendevity is licensed in California, Oregon, Washington, Colorado, Florida, and Arizona.
Yes, you can get a quote and apply online with Lendevity. You can also speak with a mortgage officer over the phone or by SMS message.
Lendevity does not offer automated pre-approvals but when you apply for a mortgage loan, Lendevity does offer pre-approvals that are manually pre-underwritten.
Lendevity, Inc., 21031 Ventura Blvd #512, Woodland Hills, CA 91364
This review is based on information from the Lendevity website, Yelp reviews, and information from the Better Business Bureau.