Finance of America Mortgage Review

Finance of America is a great choice if you’re looking for multiple mortgage options. The lender offers multiple mortgage options to meet your needs but doesn’t offer details on rates, fees or term lengths.

J.D. Power Rating
Min. Credit
Not specified
Min. Down Payment
Not specified
3.7 / 5.0
SimpleScore Finance of America 3.7
Perks 3
Credit Impact 3
Customer Satisfaction N/A
Product Variety 5
Fees N/A

Finance of America mortgage options have been helping homeowners find their best-fit financing for more than 25 years. Headquartered in Horsham, Pennsylvania, the company is well-reviewed on sites such as Zillow with 4.97 stars out of 5.

While there are multiple Finance of America home mortgage options to choose from — including fixed rate, ARM, Jumbo and VA loans — the company doesn’t offer the ability to check for rates or apply online. However, if customer service and loan choice are your priority, Finance of America is a great fit.

In this article

    Finance of America at a glance

    LenderLoan Amount30-Year Fixed RateProductsKey Benefit
    Finance of AmericaNot listed*Not listed*FHA/VA/USDA Loans


    Multiple mortgage options for borrowers

    What we like about it

    Finance of America offers multiple mortgage options to help clients find their best fit. For example, the company offers FHA loans backed by the Federal Housing Administration and can help you secure a mortgage even if your credit score isn’t great. Other options include reverse mortgages and jumbo loans.

    Reverse mortgages are available to borrowers 62 and over, and these mortgages leverage the equity in your existing home to help you pay for a new home, conduct repairs on your existing property or enjoy retirement. Jumbo loans, meanwhile, are for borrowers who need larger loan amounts up to a maximum of $4 million.

    When it comes to customer service, Finance of America reviews make it clear that this lender is above-average. Along with positive reviews for the company’s mortgage application process and advisor knowledge, Finance of America ratings are A+ with the Better Business Bureau (BBB) and a score of 4.93 out of 5 across more than 30,000 Social Survey reviews.

    Things to consider

    If you’re looking for clear data around Finance of America home mortgage rates, fees and APR, you won’t find it on the Finance of America website. While the lender offers a host of FAQs and blog posts about mortgage options, term lengths and rates, it doesn’t include specific details. All applications are handled in-person by advisors in different states, making it difficult to compare Finance of America to other lenders on the market and ensure you’re getting the best mortgage rates available.

    It’s also worth noting the company doesn’t have an online account portal or mobile application, meaning buyers will have to rely on more traditional methods of mortgage account management — and speak directly to their advisor if they need to make specific loan adjustments.

    What you need to know

    If you’re looking for a mortgage, the Finance of America website can help you get started with mortgage, refinancing and affordability calculators. You can also easily locate an advisor in your area, and if you choose to contact the company online, it will answer your inquiry within one business day. Worth noting? There is no online application process for Finance of America mortgages. While you can start the qualification process online, you’ll need to meet with a loan advisor in person to complete your application.

    To apply for a Finance of America mortgage, start with the company’s pre-qualification process. If you qualify, you’ll need to set a meeting with a mortgage adviser in-person to assess your current financial situation, available downpayment and total debt ratio.

    Collateral and criteria

    Finance of America doesn’t post information about required credit scores, collateral or fees. This makes it difficult to predict exactly what the company will approve and what it won’t. This also makes it a challenge to compare its rates and terms online. While some of its loan solutions — such as Jumbo mortgages and USDA loans — include specific location or financing requirements, the company is short on details when it comes to collateral and criteria.

    Finance of America alternatives

    Finance of America vs. SunTrust Bank

    SunTrust, now Truist, sheds light on the options that you can truly have as a homeowner, whether buying for the first time or refinancing.

    J.D. Power Rating
    Min. Credit
    Min. Down Payment
    4 / 5.0
    SimpleScore Truist 4
    Perks 4
    Credit Impact 3
    Customer Satisfaction 4
    Product Variety 5
    Fees 4

    SunTrust Mortgage gives you the loan options of a major mortgage lender with the personalization of a regional bank.

    • Much like Finance of America, SunTrust also offers a variety of mortgage options for qualified lenders including 30-year and 15-year fixed, 5-, 7- and 10-year ARMs and jumbo loans. Unlike Finance of America mortgage options, however, SunTrust is more up-front about its rates: The company offers a low rate of 3.24% on a 30-year fixed loan when you have a down payment of 20%.
    • Given the abundance of details available directly from SunTrust, it’s often a better choice than Finance of America for homebuyers.

    Finance of America vs. Rocket Loans by Quicken

    Rocket Loans promises a “rocket fast” decision as well as quick access to your loan funds once you’re approved.

    J.D. Power Rating
    Min. Credit
    Min. Down Payment
    3.4 / 5.0
    SimpleScore Rocket Mortgage 3.4
    Perks 4
    Credit Impact 4
    Customer Satisfaction 5
    Product Variety 3
    Fees 1

    Rocket Loans is part of the Quicken Loans family, which was established back in 1985. Headquartered in Detroit, Rocket Loans aims to offer a quick and easy online personal loan and mortgage process that is unencumbered by the excess paperwork and minutiae required by traditional lenders.

    • Applying for a Rocket mortgage can happen entirely online. While you can speak with lenders directly, Rocket Loans by Quicken make it easy to complete the application, approval and funding processes virtually.
    • If you’re looking for great mortgage options that also require an in-person connection, consider Finance of America. If you prefer more upfront details and the ability to easily apply online, try Rocket Loans by Quicken.

    Compare top mortgage lenders

    We welcome your feedback on this article and would love to hear about your experience with the mortgage loans we recommend. Contact us at with comments or questions.



    We’ve created the SimpleScore to help you objectively compare products and services here at The Simple Dollar.

    Our editorial team:

    • Identifies five factors to compare across each brand
    • Determines the rating criteria for each factor
    • Calculate an average of those five factor scores to get one SimpleScore

    We break down each of these five factors and their rating criteria for our review of the best mortgage companies.

    Why do some brands have different SimpleScores on different pages?

    Some brands like Bank of America, Wells Fargo, and Chase have different SimpleScores because they offer more than one financial solution — like home loans, auto loans, personal loans and more.

    For instance, in our Bank of America Mortgage Review, we give the company a 3.8 out 5 based on our five rating factors for mortgages. In our Bank of America Auto Loans Review, we give the company a 4.4 out of 5 based on our rating factors for auto loans. By tailoring our SimpleScore to each financial solution, we’re able to give you a more accurate view of a brand’s services and how it compares to competitors’ services.


    Mortgage lending companies that provide more perks receive a higher score from us.

    Hard/Soft credit checks

    We know that credit checks affect your score –– that’s why we favor companies that offer soft credit checks or hard credit checks when you want to see your pre-approval rates.

    Customer satisfaction

    We use the J.D. Power 2019 Mortgage Origination Satisfaction Study℠ to find out how customers rate their experience with each company. (If a company is not included in J.D. Power’s study, we skip this rating factor and average the remaining factor scores.)

    Product variety

    Mortgage lenders that offer more products for their home loans are given higher scores.


    Fees can add up fast. Companies that don’t require as many fees for your home loan receive a higher score with us.

    Doug Bonderud

    Contributing Writer

    An award-winning finance, technology and security writer, Doug has a knack for distilling complex concepts down into actionable, readable copy that generates interest and drives engagement.

    Reviewed by

    • Andrea Perez
      Andrea Perez
      Personal Finance Editor

      Andrea Perez is an editor at The Simple Dollar who leads our news and opinion coverage. She specializes in financial policy, banking, and investing.