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Mission Loans Review 2022

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Katy Ward
Katy Ward
Aug. 23, 20224 min read

Mission Loans summary

Headquartered in California and Ohio, Mission Loans provides a variety of mortgage products for borrowers looking to purchase or refinance. Home financing is available for veterans, low income borrowers, and borrowers with various credit profiles including real estate investors and borrowers who are self employed. With FICO flexibilities as low as 580, homebuyer down payments can be as low as 3% on conventional purchases.


  • FICOs down to 580 eligible
  • Loan qualifications accessible online


  • 24/7 customer support not available
  • No app
Mission Loansat a glance

Editorial score

Customer Service and Support

Good customer service


Variety of Loan Types

Conventional, FHA, and VA loans for purchase and refi


Variety of Products

10-, 15-, 20-, 25-, 30-, 35-, and 40-year terms available


Online Experience

Available in 47 states


Geographical Availability

Access to learning materials, no rates


Mission Loans Mission Loans Visit Mission Loans


Mission Loans provides purchase and refinance loan options for conventional mortgages, products for veterans (VA loans), mortgages for rural homeowners (USDA), and government-backed financing for borrowers with low credit and income (FHA loans). For non-traditional methods of qualification, Mission Loans offers non-QM options that allow self employed borrowers or real estate investors greater flexibility. Additionally, borrowers can tap into their home equity with a line of credit or second mortgage. Borrowers have fixed and adjustable rate options with flexible credit requirements. 

Suitable For?

With Mission Loans offering a wide range of loan products across varying credit profiles, they are an optimal lender for clients of all financial histories. 

Types of Loans/Products

Mission Loans offers both purchase and refinance mortgages, with the following requirements:

Conventional loans

  • Minimum credit score of 620
  • Debt-to-income ratio of 50% or lower 
  • Minimum down payment of 3%
  • Private mortgage insurance on down payments of less than 20%
  • Loan amounts up to $647,200 with an expanded high balance option up to $970,800

FHA loans

  • Minimum credit score of 580
  • Debt-to-income ratio of 56% or lower 
  • Minimum down payment of 3.5% on credit scores of 580 and above
  • 15- and 30- year terms available
  • Loan amounts up to $822,375 in expensive areas

VA loans

  • Be active or retired military
  • Minimum credit score lowered to 580
  • No down payment requirement
  • Debt-to-income ratio up to 49.99% 
  • Expanded high balance option up to $970,800

The Application Process

When you’re applying for a mortgage online, the first step is to choose whether you’re searching for a purchase or refinance product. Next you’ll need to provide information on the type of property being financed, your credit score, and your name and contact information. 

To apply, you’ll need:

  • Bank statements for the past 60 days
  • Paystubs for the past 30 days
  • W2 for the last 2 years
  • Social Security number
  • Government-issued ID 

If you’d like to apply for a VA loan, you’ll also need to meet the following minimum active duty requirements:

  • For service members: served for at least 90 continuous days (all at once without a break in service)
  • For veterans: the minimum active duty requirements depend on when you served 
  • Be the surviving spouse of a veteran who died in active service or from a service-related injury.

Entering your details takes less than 5 minutes. Once you’ve input your information, you’ll receive a call from one of the company’s advisors to discuss your options.

Repayment Terms

Mission Loans offers 15- and 30-year terms on its FHA loans. If you’d like more information on terms for other loan types, you’ll need to speak to a loan officer to discuss your needs.

Your interest rate will depend on your credit profile and finance goal.

Help & Support

You can contact Mission Loans by phone, email, or social media. Alternatively, you can enter your question and contact number into an online chat box and the company will respond via text. Its customer service hours are 8:30am-6pm (PST) on Mondays to Fridays and 9am-1pm on Saturdays.

How Mission Compares

Mission loansQuicken LoansAmeriSave
Minimum credit scoreConventional: 620
FHA: 580
VA: 580
620 for most loansConventional: 620
FHA, VA, USDA: 600
Minimum down payments3% (no requirement on VA loans)3% (no requirement on VA loans)3.5%
DTIConventional: up to 49%
FHA: up to 56% 
VA: up to 49.99%
Less than 50%Depends on loan type, lower than 45% on conventional loans
Closing costs2-6%2-6%Available on application
Terms10, 15, 20, 25, 30, or 40 years15, 25, 30, or years10, 15, 20, 25, or 30 years


If you’re seeking a transparent mortgage provider with a streamlined application process, Mission Loans could be the right fit for your lending needs. Particularly impressive are its flexible credit score requirements, which were lower than a majority of competitors. The majority of borrowers will likely find that their needs are covered.


What information does Mission Loans collect about its customers?

The lender may collect information such as your name, age, address, and Social Security number, as well as details about your finances and employment history. It will not, however, share this information with 3rd parties other than those required to perform its service.

Where can I find information on Mission’s state licensing?

Details on state licensing are listed here.

Do I need to take out private mortgage insurance (PMI)?

You won’t need PMI if you’re taking out a VA loan, but insurance is required on FHA loans and conventional loans with a down payment of less than 20%.

Does Mission Loans have an app?

The lender doesn’t offer a mobile app.

Physical Address

19500 Jamboree Rd Suite 300, Irvine, CA 92612

Mission Loans Mission Loans Visit Mission Loans


This review was compiled using the information on Mission’s website and by contacting the company over social media.

Katy Ward
Written byKaty Ward

Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance and software topics for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

Mission Loans
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