Welcome to our Movement Mortgage review.
Home buying and getting a mortgage should be more than just getting a rate. You should be working with an individual that helps you do what is best for you not simply their bank account.
That is what Movement Mortgage is all about. If you’ve read our other reviews then you already know we do a number of reviews. However, we do not do reviews simply for advertising revenue.
Every student loan lender, mortgage lender, insurance company, etc… on FitBUX’s financial planning technology platform has been vetted. We want to make sure our FitBUX members have the best experiences possible. Movement Mortgage is one of those companies.
In fact, I as well as many of my family members have used Mike Gleason from Movement Mortgage for our home loans over the past 20 years!
This review discusses the company and their process. If you use them, please let us know how it is so we can continue to update this review.
About Movement Mortgage
Going into 2008, the mortgage industry was full of lenders just wanting to make a dollar. A few mortgage lenders wanted way more than that. Movement mortgage being one of them.
- The company was founded in 2008 in the midst of the great economic contraction.
- The company now has 775 loan officers and over 4,500 employees
- They lend in all 50 states
- Their quick loan application technology can complete an application in 90 seconds
- Minimum credit score for conventional loans is 620
- Minimum credit score for FHA loans is 580
- Minimum credit score for VA loans is 580
Below is a list of loans offered by Movement Mortgage:
- Conventional (Conforming Loans)
- Fixed and adjustable rate
- Rate and term
- Cash out and regular refinancing
- Home equity line of credits (HELOC)
- Condo and Co-op loans
- Construction and renovation loans
- Reverse mortgages
Reviewing Their Process
The mortgage process at Movement Mortgage has been designed to be streamlined and stress fee. Their goal is to remove the confusing and lengthy process that consumers experience at most lenders.
The first step is to have an initial conversation with a loan officer. You can work with any loan officer at Movement Mortgage. However, I’ve personally worked with Mike Gleason over the past 20 years. If you’d like a FitBUX Coach to be on these calls so you can see how the mortgage fits into your financial plan, we’d be more than happy to do so.
The next step is to complete the application. As mentioned earlier, this can be completed under 90 seconds! You can ask the loan officer to provide you different rate options with various mortgage points. Then you can take the different offers and use FitBUX mortgage point calculator to see which one makes the most since for you from a financial planning perspective.
You collect and send you documents to your loan officer. The faster you do this the faster the loan will close so its important to work with a good loan officer. You can also use their mobile app to manage your loan and send files.
You’ll get an appraisal which should only take a few days.
This is where Movement Mortgage really differentiates from other lenders. They do upfront underwriting.
What this means is they underwrite the loan at the beginning of the loan process. This is important for a few reasons.
- It gives you a leg up in a crowded market. Putting an offer in on a house when you have a loan already approved will improve your chances of getting the house and closing on it.
- This is a big one… it prevents a last minute rush. Movement Mortgages underwriters asses the loan and aim to have it released from underwriting in less than six hours. This means you know well in advance of closing the final loan details. Therefore, you don’t have to feel pressured to sign anything at the very end if the numbers change.
Your loan is approved with conditions and then processed. The goal of Movement Mortgage is to have the loans processed in seven business days or less. This is massive considering the average loan takes about 30 – 45 days to close.
Close the loan. Since Movement Mortgage does most of the heavy lifting up front, closing should be stress free! Plus, you’ll be able to e-sign most of the documents early which helps save a lot of time.
What Does The Name Movement Mortgage Mean
Movement Mortgage is innovating the mortgage industry but their name means much more because they do much more.
Almost half the companies profits goes to their Movement Foundation. The goal of the Foundation is to help uplift communities. Specifically, they invest in schools, health clinics, and housing projects.
In addition, they use the money to fund Movement Schools. These schools are free public charter school networks serving areas that have historically lacked access to education options.
In this Movement Mortgage review, I highlighted the pros and cons of using them. I personally love Movement Mortgage. If I didn’t I wouldn’t have personally used them or referred family members to them for the past 15 years!
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Also, you should shop rates when you are buying a house. Another partner of FitBUX's we recommend is Neo Home Loans. If you want more information about them before applying, check out our review on Neo Home Loans.