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WesLend Mortgage Review 2022

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Patrick Sather
Patrick Sather
Jul. 22, 20214 min read

Weslend summary

WesLend Financial provides mortgage services to homeowners in 39 states. It offers fixed-rate mortgages, ARMs, jumbo loans, FHA, VA, and USDA loans, and refinancing. In addition to a 3% down payment for first-time homebuyers, WesLend features a no closing cost loan option. Most loans require a minimum credit score of 620, and APR starts at 2% for 15-year fixed-rate loans and 2.625% for 30-year fixed-rate loans.


  • No closing cost loans
  • 3% down for first-time homebuyers
  • Chat and pre-qualify with a loan officer online


  • Not available in every state
  • Conventional loan limit of $548,250
Weslendat a glance

Editorial score

Customer Service and Support

Direct chat with loan officer function


Variety of Loan Types

Purchase, refinance, jumbo, FHA, VA, USDA


Variety of Products

10-30 years; 5/1, 7/1, or 10/1 ARM


Online Experience

Rates are prominently displayed


Geographical Availability

Available in 39 states


Weslend Weslend Visit WesLend


WesLend Financial is a DBA of Lenox Financial Mortgage Corporation. It offers fixed-rate mortgages, ARMs, jumbo loans, VA, FHA, and USDA loans, and refinancing. Except for in Washington state, WesLend also features a no closing cost loan option, which saves you money on fees in exchange for a higher APR. Conventional loans require a minimum credit score of 620 and a 5% down payment, but first-time homebuyers are eligible for loans with a 3% down payment. However, the limit on conventional loans is $548,250. 

WesLend mortgage services are not available in:

  • Alaska
  • Delaware
  • Mississippi
  • Nebraska
  • Nevada
  • North Dakota
  • South Dakota
  • Vermont
  • West Virginia
  • Wisconsin
  • Wyoming

Suitable For?

A mortgage from WesLend Financial is suitable for first-time homebuyers who want to avoid paying closing costs. First-time homebuyers can qualify for a 3% down payment, which provides more flexibility than the traditional 5% down. In addition, you can avoid paying higher fees with a no closing cost loan, but expect to pay a higher interest rate for this privilege. 

Types of Loans/Products

WesLend offers fixed-rate mortgages, ARMs, FHA loans, VA loans, USDA loans, jumbo loans, no closing cost loans, and refinancing. For fixed-rate loans, 10, 15, 20, 25, and 30-year terms are available, while ARMs come in terms of 5/1, 7/1, and 10/1. APR for a 15-year fixed-rate loan starts at 2%, while APR for a 30-year fixed-rate loan starts at 2.625%. 

The minimum credit score for conventional loans is 620, while jumbo loans require a minimum score of 700. In addition, most conventional loans require a 5% down payment, while jumbo loans stipulate a 10% down payment. However, first-time homebuyers are eligible to qualify for a loan with 3% down. 

  • Minimum credit score: 620 
  • Terms: 10, 15, 20, 25, and 30-year fixed
  • APR: 2% (15-year fixed), 2.625% (30-year fixed)
  • Minimum down payment: 5% (3% for first-time homebuyers)
  • No closing cost loans: Yes

The Application Process

Steps to apply for a loan include:

  1. Pre-qualify online or over the phone
  2. Submit an application
  3. Select your loan rates and terms
  4. Provide supporting documentation
  5. Close on your loan

Required application documents include:

  • Your pay stubs for the past month
  • Tax returns and W-2s for the past 2 years
  • Asset information, including bank or investment statements

In addition to these documents, an underwriter may require additional information to process your application. On average, it takes between 30 and 60 days to complete a home purchase. 

Repayment Terms

WesLend Financial offers 10, 15, 20, 25, and 30-year fixed-rate terms. Meanwhile, ARMs come in 5/1, 7/1, and 10/1 terms. For a 15-year fixed-rate loan, APR starts at 2%, while APR for a 30-year fixed-rate loan starts at 2.625%. Terms and rates vary depending on eligibility, and the limit for conventional loans is $548,250. 

Help & Support

Support is available over the phone from 8 am–5 pm PT, Monday–Friday. If you need help servicing your loan, you can also reach out via email at

In addition, WesLend’s website features a chat function where you can get answers to general questions and chat directly with a loan officer. 


WesLend Financial is a direct mortgage lender licensed in 39 states. It provides fixed-rate mortgages, ARMs, jumbo loans, FHA, VA, and USDA loans, and refinancing. With WesLend, the minimum credit score for a conventional loan is 620, and down payments start at 5%. However, first-time homebuyers may be eligible to make a reduced 3% down payment. In addition, WesLend features a no closing cost loan option which saves you money on fees in exchange for a higher APR. You can pre-qualify online or over the phone with a loan officer and lock in rates as low as 2% for a 15-year fixed-rate loan or 2.625% for a 30-year fixed-rate loan. 


How much house can I afford?

Your loan officer will ask you questions about your debt, income, and assets to help you determine how much you can afford for a home loan. 

What is the difference between pre-qualification and pre-approval?

Pre-qualification is an informal process that allows you to see how much you can afford for a home loan. Meanwhile, pre-approval is a more formal process that includes the lender documenting your income and credit to help speed up your loan application. 

Do I need a home inspection?

No, but WesLend strongly encourages you to get a home inspection before purchasing a property to see if any structural issues will need to be addressed in the future. 

How long does it take to buy a home?

On average, it takes 30–60 days to close on a home loan. 

Physical Address 

200 Sandpointe Ave, Santa Ana, CA 92707

Weslend Weslend Visit WesLend


This review was created based on information from WesLend Financial’s website, third-party reviews, and conversations with loan officers. 

Patrick Sather
Written byPatrick Sather

Patrick Sather is an award-winning personal finance writer and licensed broker who has worked for some of the largest financial firms in the United States, including TD Ameritrade and Pacific Life. A graduate of the University of Nebraska in both Economics and International Trade and English, his articles on life's most common financial decisions and quandaries are straightforward, practical, and always easy to understand.


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