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Purchase Purchase

As you evaluate whether to rent or buy a home, here are some things to keep in mind: 

  • The lower your mortgage rate, the less interest you will pay over the term of your home mortgage (with a fixed rate mortgage)
  • The more rents go up, the more you may save by owning a home (with a fixed rate mortgage)
  • The longer you plan to stay in your home, the more likely it is that you would benefit by buying rather than renting*
Our Affordability Calculator can give you a rough estimate of how much you can afford to pay each month on a mortgage. For a more precise estimate, call Freedom Mortgage to get pre-qualified.

*The interest you pay on a mortgage may be tax deductible as well. Consult your tax advisor for information regarding the deductibility of interest and charges.

Yes. Freedom Mortgage offers loans for primary homes, second homes (vacation homes) and investment properties.

  • Primary homes (owner-occupied primary residence) – the down payment can be as low as 3.5% for FHA loans; 100% financing may be available for VA loans. 
  • Second homes – the down payment can be as low as 10% (conventional loans).
  • Investment properties – down payments are usually 20% or more.

For all property types, mortgage interest may be tax deductible, depending on how much time you spend in the property. Consult your tax advisor for information regarding the deductibility of interest and charges. For more information about loan options for different property types, contact a home loan specialist at Freedom Mortgage.

A fixed rate mortgage locks in your interest rate for the life of your loan.

  • Your base monthly mortgage payment (principal and interest) will always stay the same if you have a fixed rate mortgage (although your taxes and insurance may change)
  • If you stay in your home for a long time, a fixed rate mortgage may be more affordable than an adjustable rate mortgage. Contact Freedom Mortgage to learn more about fixed-rate mortgages.

With an adjustable rate mortgage, you get a lower interest rate for an initial time period (usually the first 1, 3, 5 or 7 years). After that, your interest rate will reset based on the applicable index and margin. Most ARMs have caps that limit how high the interest rate can increase at each change date and over the life of the loan. Make sure you will be able to afford your payment if your interest rate reaches those caps.

Contact Freedom Mortgage to learn more about adjustable-rate mortgages.

Yes. Freedom Mortgage offers loans for primary homes, second homes (vacation homes) and investment properties.

  • Primary homes (owner-occupied primary residence) – the down payment can be as low as 3.5% for FHA loans; 100% financing may be available for VA loans. 
  • Second homes – the down payment can be as low as 10% (conventional loans).
  • Investment properties – down payments are usually 20% or more.

For all property types, mortgage interest may be tax deductible, depending on how much time you spend in the property. Consult your tax advisor for information regarding the deductibility of interest and charges. For more information about loan options for different property types, contact a home loan specialist at Freedom Mortgage.

As you evaluate whether to rent or buy a home, here are some things to keep in mind: 

  • The lower your mortgage rate, the less interest you will pay over the term of your home mortgage (with a fixed rate mortgage)
  • The more rents go up, the more you may save by owning a home (with a fixed rate mortgage)
  • The longer you plan to stay in your home, the more likely it is that you would benefit by buying rather than renting*
Our Affordability Calculator can give you a rough estimate of how much you can afford to pay each month on a mortgage. For a more precise estimate, call Freedom Mortgage to get pre-qualified.

*The interest you pay on a mortgage may be tax deductible as well. Consult your tax advisor for information regarding the deductibility of interest and charges.

A fixed rate mortgage locks in your interest rate for the life of your loan.

  • Your base monthly mortgage payment (principal and interest) will always stay the same if you have a fixed rate mortgage (although your taxes and insurance may change)
  • If you stay in your home for a long time, a fixed rate mortgage may be more affordable than an adjustable rate mortgage. Contact Freedom Mortgage to learn more about fixed-rate mortgages.

With an adjustable rate mortgage, you get a lower interest rate for an initial time period (usually the first 1, 3, 5 or 7 years). After that, your interest rate will reset based on the applicable index and margin. Most ARMs have caps that limit how high the interest rate can increase at each change date and over the life of the loan. Make sure you will be able to afford your payment if your interest rate reaches those caps.

Contact Freedom Mortgage to learn more about adjustable-rate mortgages.

Refinance Refinance

A refinance takes out a new loan that replaces your old loan at a different interest rate or new loan term.

The decision to refinance your mortgage depends on your financial situation. Some reasons include:

  • Refinancing at a lower interest rate to lower your monthly payment.*
  • Changing your loan term
  • Obtaining a stable principal and interest payment by converting from an adjustable rate mortgage (ARM) to a fixed rate loan

Contact Freedom Mortgage to learn more about how you may be able to benefit from refinancing.

*Refinancing may increase the length of your loan and the total amount of interest you pay over the life of your loan.
If you refinance with an FHA or VA loan, the process is simple as some FHA and VA products require less documentation than conventional loans and do not require an appraisal, if you qualify. That allows closing to be quicker than a home purchase.

To learn more about your refinancing options, contact Freedom Mortgage today.

If you refinance with an FHA or VA loan, the process is simple as some FHA and VA products require less documentation than conventional loans and do not require an appraisal, if you qualify. That allows closing to be quicker than a home purchase.

To learn more about your refinancing options, contact Freedom Mortgage today.

A refinance takes out a new loan that replaces your old loan at a different interest rate or new loan term.

The decision to refinance your mortgage depends on your financial situation. Some reasons include:

  • Refinancing at a lower interest rate to lower your monthly payment.*
  • Changing your loan term
  • Obtaining a stable principal and interest payment by converting from an adjustable rate mortgage (ARM) to a fixed rate loan

Contact Freedom Mortgage to learn more about how you may be able to benefit from refinancing.

*Refinancing may increase the length of your loan and the total amount of interest you pay over the life of your loan.

Cash Out Cash Out

A cash out refinance allows homeowners to use their home equity to get cash out of their home and use it to consolidate high-interest debt, pay for major expenses or make home improvements. This is similar to a typical refinance. However, the borrower receives a new loan for an amount greater than the amount owed and the difference between the amount owed and the new loan amount is received as cash at closing. The borrower may pay more interest over the life of the new loan because of the higher balance.

Freedom Mortgage offers cash-out refinancing in the form of conventional, FHA and VA loans.

A cash out refinance allows homeowners to use their home equity to get cash out of their home and use it to consolidate high-interest debt, pay for major expenses or make home improvements. This is similar to a typical refinance. However, the borrower receives a new loan for an amount greater than the amount owed and the difference between the amount owed and the new loan amount is received as cash at closing. The borrower may pay more interest over the life of the new loan because of the higher balance.

Freedom Mortgage offers cash-out refinancing in the form of conventional, FHA and VA loans.

VA Loans VA Loans

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA). The VA helps millions of active military members, veterans and eligible surviving spouses become homeowners. VA home loans are provided by VA-approved lenders, such as banks and mortgage companies and are backed by the government. VA loans offer a number of benefits to help veterans realize the dream of homeownership including:

  • Point 1A competitive rate
  • Point 2No down payment, as long as the sales price does not exceed the appraised value
  • Point 3No private mortgage insurance premium; however, a VA funding fee is due at closing unless granted an exemption by the VA
  • Point 4No pre-payment penalties
  • Point 5Minimum credit score or 550 for standard transactions. For a jumbo or other non-standard VA loan, please contact a Loan Officer.

We have a passion for serving veterans and we are committed to providing personalized mortgage solutions and the exceptional service you expect and deserve. As a leading VA lender in the USA*, we are ready to serve you and your family. Contact Freedom Mortgage today to get started.

*Inside Mortgage Finance, Q32019

If you already have a VA mortgage and need cash to consolidate high-interest debt, make home improvements or further your education, our cash-out refinance option may be right for you. It can also be used to refinance a non-VA loan into a VA loan. The VA will guarantee loans up to 100% of the appraised value of your home.

Contact Freedom Mortgage and let our loan specialists help you determine if you qualify for VA Cash Out Refinancing and how you can consolidate your debt to save money.

If you already have a VA loan and want to reduce your interest rate without receiving any cash out, you may qualify for a VA Streamline Refinance. This VA refinance option can lower your monthly payments* with fewer requirements and less documentation. You may not need an appraisal or Certificate of Eligibility (COE), so the process is usually faster.

Contact Freedom Mortgage to see if you qualify for VA Streamline Refinancing and how you can start saving.

*Refinancing may increase the length of your loan and the total amount of interest you pay over the life of your loan.

A COE, or Certificate of Eligibility, verifies that you are eligible to receive a VA loan.

Freedom Mortgage can obtain the COE for you when you apply for a VA loan. We work with you to gather the necessary evidence and paperwork to get the COE and start the loan process.

No, you need to be a veteran or the spouse/surviving spouse of a veteran to be eligible for a VA loan.

The VA does not require a minimum credit score for a VA loan. It's up to each lender to set their own guidelines. Freedom Mortgage understands the challenges of homeownership and is one of few lenders who will provide loans to service men and women with lower credit scores. Contact Freedom Mortgage and we'll work with you to determine your eligibility.

A VA loan is the gift that keeps giving. Use it for your first house or your last. It just needs to be your primary residence. You can only have one VA loan at a time.

No, a VA loan can only be used on a primary residence.

Veterans who have full entitlement can now get approved for a VA loan with no maximum home price. Lenders may still limit the mortgage amounts they offer veterans based on income, finances, credit score, and other factors.

With a conventional mortgage, you typically will need to have 20% down or you would need to pay PMI (Private Mortgage Insurance). One important benefit of VA loans is that you typically won't need to bring a down payment.

Yes, there are no pre-payment penalties on a VA loan.

Freedom Mortgage is a leading VA lender in the USA.* You will benefit from our experience with originating VA loans. Our commitment, service, experience and reliability set us apart from the competition. As an example, our exclusive Eagle Eye Program evaluates the current mortgage environment, rates and property values for you. We will reach out to help you save money, use your home's equity to consolidate high interest debt or offer you special programs when it is time to purchase your next home. When you are a Freedom Mortgage customer, we will go out of our way to provide the right option for you on your new home loan.

*Inside Mortgage Finance, Q32019

If you already have a VA mortgage and need cash to consolidate high-interest debt, make home improvements or further your education, our cash-out refinance option may be right for you. It can also be used to refinance a non-VA loan into a VA loan. The VA will guarantee loans up to 100% of the appraised value of your home.

Contact Freedom Mortgage and let our loan specialists help you determine if you qualify for VA Cash Out Refinancing and how you can consolidate your debt to save money.

FHA Loans FHA Loans

An FHA loan is insured by the Federal Housing Administration (FHA), an agency of the U.S. government.

Because one of the FHA’s goals is to help more people become homeowners, FHA-insured loans have smaller down payments than conventional loans and other benefits:

  • Down payments as low as 3.5%
  • More flexible credit qualifying requirements
  • You may be able to use money received as a gift toward your down payment

An FHA loan is a great option for first-time homebuyers. There are many other benefits to FHA loans. Contact Freedom Mortgage today to find out if you can benefit from an FHA loan.

If you have a mortgage on your home right now, you may be able to refinance into an FHA loan and get cash to pay off high-interest debt (credit cards, student loans) or use for other expenses.

Find out more about FHA Cash Out Refinancing. Contact Freedom Mortgage today.

The FHA Streamline Refinance program is for borrowers who already have an FHA loan and would like to lower their monthly payments.* Borrowers may not receive any cash from an FHA Streamline Refinance.

Find out more about FHA Streamline Refinancing. Contact Freedom Mortgage today.

*Refinancing may increase the length of your loan and the total amount of interest you pay over the life of your loan.

For FHA loans, early cancellation is allowed only under the following circumstances.  (All of the noted criteria must be met in order to qualify).

  • The loan must have closed on or after January 1, 2001 and the FHA case number must have been assigned before June 3, 2013.
  • There can be no payments 30 or more days late in the past 12 months.  The loan must remain current throughout the cancellation process.
  • With the exception of 15-year mortgages, you must have paid MIP for a minimum of five years. 
  • The principal balance, minus any upfront MIP, must be less than or equal to 78 percent of the original property value*. 

*Original property value on a purchase transaction is the lesser of the purchase price or the original appraised value.  In the event of a refinance, original value is the original appraised value from the time the loan is transacted.

For FHA loans, early cancellation is allowed only under the following circumstances.  (All of the noted criteria must be met in order to qualify).

  • The loan must have closed on or after January 1, 2001 and the FHA case number must have been assigned before June 3, 2013.
  • There can be no payments 30 or more days late in the past 12 months.  The loan must remain current throughout the cancellation process.
  • With the exception of 15-year mortgages, you must have paid MIP for a minimum of five years. 
  • The principal balance, minus any upfront MIP, must be less than or equal to 78 percent of the original property value*. 

*Original property value on a purchase transaction is the lesser of the purchase price or the original appraised value.  In the event of a refinance, original value is the original appraised value from the time the loan is transacted.

If you have a mortgage on your home right now, you may be able to refinance into an FHA loan and get cash to pay off high-interest debt (credit cards, student loans) or use for other expenses.

Find out more about FHA Cash Out Refinancing. Contact Freedom Mortgage today.

The FHA Streamline Refinance program is for borrowers who already have an FHA loan and would like to lower their monthly payments.* Borrowers may not receive any cash from an FHA Streamline Refinance.

Find out more about FHA Streamline Refinancing. Contact Freedom Mortgage today.

*Refinancing may increase the length of your loan and the total amount of interest you pay over the life of your loan.

An FHA loan is insured by the Federal Housing Administration (FHA), an agency of the U.S. government.

Because one of the FHA’s goals is to help more people become homeowners, FHA-insured loans have smaller down payments than conventional loans and other benefits:

  • Down payments as low as 3.5%
  • More flexible credit qualifying requirements
  • You may be able to use money received as a gift toward your down payment

An FHA loan is a great option for first-time homebuyers. There are many other benefits to FHA loans. Contact Freedom Mortgage today to find out if you can benefit from an FHA loan.

USDA Loans USDA Loans

There are eligibility requirements regarding income as well as property location. Visit www.usda.gov for details and to see the eligibility map of the approved locations.

To learn more about USDA loans and other mortgages, contact Freedom Mortgage.

Yes, the USDA loan program is for qualified buyers for the purchase of their primary residence and it can be used for the purchase of your next home. It is not for a second home, vacation home or investment property.

USDA loans offer up to 100% financing. If your down payment is 20 percent or more, you will need to finance through a conventional mortgage.

Generally, closing fees range from 3 - 6% of the sales price. An appraisal would need to be done as well.

There is no loan limit, but home buyers qualify based on their debt and income. Check out the details by state.

If you have USDA coverage, mortgage insurance cannot be canceled.

If you have USDA coverage, mortgage insurance cannot be canceled.

There are eligibility requirements regarding income as well as property location. Visit www.usda.gov for details and to see the eligibility map of the approved locations.

To learn more about USDA loans and other mortgages, contact Freedom Mortgage.

Yes, the USDA loan program is for qualified buyers for the purchase of their primary residence and it can be used for the purchase of your next home. It is not for a second home, vacation home or investment property.

Mortgage Insurance Mortgage Insurance

Generally, MIP on FHA loans and the VAFF for VA loans cannot be removed.

Also, if you have LPMI, it cannot be cancelled.

BPMI associated with conventional loans may be cancelled under certain circumstances.

Conventional loans for single-family, primary residences originated on or after July 29, 1999 are governed by the Homeowners Protection Act (HPA). The HPA contains provisions for early cancellation and automatic or final termination of BPMI under certain circumstances.

Borrower Requests for Early BPMI Cancellation:

Borrowers with loans covered by HPA may request early cancellation of BPMI if the following conditions are met:

  • The request must be in writing
  • The principal balance must be equal to or less than 80 percent of the original property value*
  • The borrower’s payments must be current with no 30-day late payments in the last 12 months and no 60-day late payments in the last 24 months
  • Evidence of a type satisfactory to the lender must show the property value has not declined below the original property value
    • For purchase transactions, original property value is the lesser of the purchase price or the original appraised value.
    • For refinances, original value is the original appraised value from at the time the loan is transacted was originated.
    • Subject to state law and/or investor guidelines, Freedom Mortgage will generally require a current interior-exterior appraisal, facilitated through our vendor.
  • Certification that there are no subordinate liens

Additional cancellation requirements may apply, based on state law, and/or investor guidelines as well as certain loan characteristics such as occupancy type, number of units and the age of the loan. Full instructions and options for cancelling BPMI on your loan are available by contacting Freedom Mortgage via email, fax at (866) 505-0948 or mail to P.O. Box 50485, Indianapolis, IN 46250-0485.

Automatic BPMI Termination:

The HPA governs automatic termination of BPMI on conventional loans for single-family, primary residences originated on or after 7/29/99. State law and/or investor guidelines may contain additional provisions related to automatic termination of BPMI. Additional principal payments do not advance the automatic BPMI termination date. The loan must be current upon reaching the automatic termination date; otherwise, BPMI will be terminated on the first day of the first month following the date the loan becomes current.

Final BPMI Termination:

If you have not exercised the early cancellation option and if your loan has not yet reached the 78% threshold for automatic BPMI termination, BPMI will be terminated at the midpoint of the original amortized term of the mortgage loan. As with automatic BPMI termination, your mortgage loan must be current upon reaching the final termination date; otherwise, BPMI will be terminated on the first day of the first month following the date the loan becomes current.

Generally, MIP on FHA loans and the VAFF for VA loans cannot be removed.

Also, if you have LPMI, it cannot be cancelled.

BPMI associated with conventional loans may be cancelled under certain circumstances.

Conventional loans for single-family, primary residences originated on or after July 29, 1999 are governed by the Homeowners Protection Act (HPA). The HPA contains provisions for early cancellation and automatic or final termination of BPMI under certain circumstances.

Borrower Requests for Early BPMI Cancellation:

Borrowers with loans covered by HPA may request early cancellation of BPMI if the following conditions are met:

  • The request must be in writing
  • The principal balance must be equal to or less than 80 percent of the original property value*
  • The borrower’s payments must be current with no 30-day late payments in the last 12 months and no 60-day late payments in the last 24 months
  • Evidence of a type satisfactory to the lender must show the property value has not declined below the original property value
    • For purchase transactions, original property value is the lesser of the purchase price or the original appraised value.
    • For refinances, original value is the original appraised value from at the time the loan is transacted was originated.
    • Subject to state law and/or investor guidelines, Freedom Mortgage will generally require a current interior-exterior appraisal, facilitated through our vendor.
  • Certification that there are no subordinate liens

Additional cancellation requirements may apply, based on state law, and/or investor guidelines as well as certain loan characteristics such as occupancy type, number of units and the age of the loan. Full instructions and options for cancelling BPMI on your loan are available by contacting Freedom Mortgage via email, fax at (866) 505-0948 or mail to P.O. Box 50485, Indianapolis, IN 46250-0485.

Automatic BPMI Termination:

The HPA governs automatic termination of BPMI on conventional loans for single-family, primary residences originated on or after 7/29/99. State law and/or investor guidelines may contain additional provisions related to automatic termination of BPMI. Additional principal payments do not advance the automatic BPMI termination date. The loan must be current upon reaching the automatic termination date; otherwise, BPMI will be terminated on the first day of the first month following the date the loan becomes current.

Final BPMI Termination:

If you have not exercised the early cancellation option and if your loan has not yet reached the 78% threshold for automatic BPMI termination, BPMI will be terminated at the midpoint of the original amortized term of the mortgage loan. As with automatic BPMI termination, your mortgage loan must be current upon reaching the final termination date; otherwise, BPMI will be terminated on the first day of the first month following the date the loan becomes current.

Mortgage Closing Process Mortgage Closing Process

Closing is the last step of financing your home. At closing, you will sign the Note, Mortgage or Deed of Trust and other required disclosures. You need to attend closing. Depending on the state where you live, spouses may need to attend the closing and sign documents, and a witness or witnesses may need to be present.

Closing is the last step of financing your home. At closing, you will sign the Note, Mortgage or Deed of Trust and other required disclosures. You need to attend closing. Depending on the state where you live, spouses may need to attend the closing and sign documents, and a witness or witnesses may need to be present.

Your Scheduling Coordinator is a Freedom Mortgage professional who will guide you through the final stages of your refinance. Your Scheduling Coordinator may be your Customer Advocate or a Scheduling Team member who will take over once your loan is ready to be scheduled for closing and will contact you to review the steps involved in signing your closing documents as well as review the terms of your loan.

Your Scheduling Coordinator is a Freedom Mortgage professional who will guide you through the final stages of your refinance. Your Scheduling Coordinator may be your Customer Advocate or a Scheduling Team member who will take over once your loan is ready to be scheduled for closing and will contact you to review the steps involved in signing your closing documents as well as review the terms of your loan.

Many states require both spouses to attend closing and sign documents when they own the house together. Some states require both spouses to attend closing and sign documents, even when one spouse’s name does not appear on the title of the house. Your Scheduling Coordinator can explain the rules related to closing and spouses for the state where you live.

Many states require both spouses to attend closing and sign documents when they own the house together. Some states require both spouses to attend closing and sign documents, even when one spouse’s name does not appear on the title of the house. Your Scheduling Coordinator can explain the rules related to closing and spouses for the state where you live.

Connecticut, Georgia, and South Carolina require a witness to attend closing. Louisiana requires two witnesses to attend closing. Witnesses are generally required to bring two forms of identification to closings, one of which must be a valid photo ID. Spouses cannot serve as witnesses in states where they are also required to sign loan documents.

Connecticut, Georgia, and South Carolina require a witness to attend closing. Louisiana requires two witnesses to attend closing. Witnesses are generally required to bring two forms of identification to closings, one of which must be a valid photo ID. Spouses cannot serve as witnesses in states where they are also required to sign loan documents.

Some states require an attorney to conduct the closing. Your Closing Advisor can explain the rules related to closing and attorneys for the state where you live.

Some states require an attorney to conduct the closing. Your Closing Advisor can explain the rules related to closing and attorneys for the state where you live.

Escrow Escrow

We estimate the amount of taxes and insurance to be paid over the next year based on the last known bill and divide that sum by 12 to determine the monthly escrow payment. This amount is included in your total monthly mortgage payment. We obtain information from taxing authorities, insurance companies and other sources to determine the amounts payable. We will review your escrow account each year to ensure that sufficient funds are in the account to make the required payments. Your payment may be adjusted to ensure that your escrow account has the necessary funds to pay the required amounts due.

The funds in your escrow account pay:

  • Real estate taxes
  • Hazard insurance as required (Homeowners, Fire, Flood, Windstorm)
  • Mortgage insurance (PMI/MIP) if required

The escrow account does not disburse funds to pay:

  • Supplemental tax bills, interim tax bills, special or added tax assessments, or any other fees that are not included in your property tax bill
  • Homeowners association fees
  • Premiums for non-required insurance policies, such as separate personal property insurance

The actual amount of taxes and insurance paid may be higher than were estimated. To ensure the escrow account has sufficient funds to cover the amount of the bill at the time of payment, you may be required to keep a minimum balance (also known as a cushion requirement) in your account at all times. The minimum balance varies by state but will not be more than two months of your monthly escrow payment.

Each year, we review your account to make sure the escrow portion of your total monthly payment is sufficient to pay your property taxes and insurance premiums, while also maintaining the required minimum balance, if applicable . Changes to your property taxes and insurance premiums may cause your monthly escrow payment to change. We’ll send you an escrow analysis statement annually which will detail what was paid and what we project to pay the following year. This statement will also provide you with your escrow payment for the upcoming year.

If the funds in your escrow account are projected to be below the required minimum balance at any point in the 12-month period, you have a shortage. This can happen if the taxes or insurance premiums for the previous 12 months were more than expected, or the projections for the next 12 months are higher than the previous year. The escrow analysis statement will provide detailed information on the shortage.

There are two ways to repay an escrow shortage:

  • Pay it over 12 months. We will automatically adjust your monthly payment to include the shortage amount.
  • Pay it in full. Send a check to us for the full amount of the escrow shortage.

Note: Because the shortage was caused by an increase in one or more of the escrowed items, even though you repay the shortage, your monthly escrow payment will not return to the previous escrow payment because we must collect for the higher amount.

If your escrow account is projected to have more than the required minimum balance required at any point in the 12-month period, you have an overage. This can happen if the taxes or insurance premiums for the previous 12 months were less than expected or the projections for the next 12 months are lower than the previous year. The escrow analysis statement will provide detailed information on the overage. If the overage is $50 or greater, and your account is current, we will send you a check for the overage amount. If the overage is less than $50, we will credit the amount to your escrow account (unless state law dictates otherwise).

If you set up automatic mortgage payments with us, your payment will be adjusted to reflect the new payment amount. No action is required on your part. If you set up bill payment options through your bank, you will need to update the amount scheduled to be sent to pay your mortgage payment.

No. We usually receive the bills from your local tax office and insurance company. We will contact you if you will be required to send the bills to us.

Interest on escrow is paid based on state law governing the interest rate and frequency of payments. We will credit the interest earned to your escrow account when required, in accordance with state law.

Loan Servicing Transfer Loan Servicing Transfer

If the servicing of your loan recently transferred to Freedom Mortgage, take a look at the information below as it will be helpful in answering many of the questions you may have as a new customer to Freedom Mortgage.

 

  • The first communication will come from your prior servicer. You should have already received a notice of transfer letter, sometimes referred to as a "Goodbye Letter," to your mailing address of record. The letter provides details of the date that the transfer is effective and other important information.
  • After the effective date of the servicing transfer to Freedom Mortgage, you'll receive a "Welcome Letter" from us. The letter will include your new mortgage loan number and instructions for paying your mortgage as well as other important information.
  • A Freedom Mortgage servicing representative will call you during the first 30 days of your loan transfer.
  • It's not unusual for us to contact you as soon as we identify opportunities to help you save money or use the equity you've built in your home to help you reach your financial goals.
  • 60 days following your loan transfer, you will receive a survey. Please let us know how we can help you with this transition.

 

Loan information is available online seven business days after the effective date of transfer; however, you’ll need your new Freedom Mortgage loan number to access the information online. We recommend that you register your account once you receive the Welcome Letter from Freedom Mortgage. The Welcome Letter includes your new mortgage loan number and additional instructions for paying your mortgage.

Payments by check can be mailed any time after the loan is transferred to Freedom Mortgage and you have your loan number. You should mail them to:

Lock Box Address for AL, AK, CO, DC, FL, ID, IL, IN, IA, KS, KY, MD, MA, MI, MN, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OR, PA, SC, SD, TN, VT, VA, WA, WV, WI, WY and PR

Freedom Mortgage Corporation
P.O. Box 6656
Chicago IL 60680-6656

Lock Box Address for AZ, AR, CA, CT, DE, GA, HI, LA, ME, MS, NY, OK, RI, TX and UT

Freedom Mortgage Corporation
P.O. Box 7230
Pasadena CA 91109-7230

Don't worry! If you recently made a payment to your prior servicer, and they received your payment PRIOR to the transfer date, they will apply it to your loan. If it is received AFTER the transfer date, they will send it to us, and we will apply it to your loan effective when it was received by your prior servicer.

  • It may take a few days for us to receive your payment and for it to be reflected in our system.
  • During the first 60 days after the effective date of transfer, Freedom Mortgage WILL NOT charge you a late fee and will not report your account as late to credit reporting agencies, if you made your payments on time to your prior servicer.

If you make your payments via your bank's online bill pay service and wish to continue to use this service, please update the payee and payment address to Freedom Mortgage as shown below. Please include your new loan number.

Lock Box Address for AL, AK, CO, DC, FL, ID, IL, IN, IA, KS, KY, MD, MA, MI, MN, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OR, PA, SC, SD, TN, VT, VA, WA, WV, WI, WY and PR

Freedom Mortgage Corporation
P.O. Box 6656
Chicago IL 60680-6656

Lock Box Address for AZ, AR, CA, CT, DE, GA, HI, LA, ME, MS, NY, OK, RI, TX and UT

Freedom Mortgage Corporation
P.O. Box 7230
Pasadena CA 91109-7230

If your automatic payments were set up with your prior mortgage servicer, the 'Goodbye Letter' you received from your prior servicer should contain information on how your previously established automatic payments are treated following the effective date of your transfer to Freedom Mortgage.

Once you have received your new Freedom Mortgage loan number (included in your Welcome Letter), you can register for access to your loan information online at FreedomMortgage.com. Once registered, please log on and select Manage Recurring Payments to create a new automatic payment.

  • You must first register for an online account
  • Have your new 10-digit loan number and Social Security number at hand
  • When you are selecting a password, please make sure it is at least 8 characters and no more than 21 characters
  • Your password must also contain at least one letter and one number

With a Freedom Mortgage online account, you will have access to your account when you need it. You will be able to set up payments and view up-to-date account and escrow information.

In addition to your Freedom Mortgage online account, you may also obtain up-to-date loan activity, escrow information and payment information through our automated phone system. Simply call 855-690-5900 and follow the prompts, including entering your account information.

Please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday from 8:00am - 10:00pm and Saturday from 9:00am - 6:00pm Eastern Time.

Please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday from 8:00am - 10:00pm and Saturday from 9:00am - 6:00pm Eastern Time.

Browser Help Browser Help

Now is the time to update your Web Browser. To deliver you the best experience, we support the following desktop browsers on Windows® 7 (or higher) OR Mac® OS X 10.9 (or higher). Please download or upgrade to one of the browsers below to interact with Freedom Mortgage online:


To check your browser version: Click Tools (or Help) > About in your browser menu.

Mobile browsing? iOS devices use Safari 8.0 or higher. Android devices use Chrome 4.4 or higher. Windows phone use Edge 10.0 or higher.

Have a critical issue or need to make a payment? Please reach out to our Customer Service team at 855-690-5900.
Would you like to speak with a loan specialist? Please call 877-684-4210.

Now is the time to update your Web Browser. To deliver you the best experience, we support the following desktop browsers on Windows® 7 (or higher) OR Mac® OS X 10.9 (or higher). Please download or upgrade to one of the browsers below to interact with Freedom Mortgage online:


To check your browser version: Click Tools (or Help) > About in your browser menu.

Mobile browsing? iOS devices use Safari 8.0 or higher. Android devices use Chrome 4.4 or higher. Windows phone use Edge 10.0 or higher.

Have a critical issue or need to make a payment? Please reach out to our Customer Service team at 855-690-5900.
Would you like to speak with a loan specialist? Please call 877-684-4210.

Making Your Mortgage Payments Making Your Mortgage Payments

You may make your mortgage payment anytime, 24 hours a day, 7 days a week by calling our automated phone system at 855-690-5900. Customer Care representatives are also available to assist you in making payments Monday through Friday 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time. Please note, additional fees may apply when making a payment through the automated phone system or a Customer Care representative.

Any payment submitted after 10:59 pm ET will post on the next business day. Business days for the purpose of payment posting are Monday through Friday. A payment submitted at any time on a Saturday or Sunday will not post until the next business day.

If you do not have a copy of your most recent billing statement, you can login to your account or create an account if you haven’t already set up your online access, to access your detailed loan information and payment instructions. If you have trouble logging on, please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

Please contact us as soon as possible if you don't think you will be able to make your mortgage payment. Programs may be available to assist you and these options depend on your individual circumstances. If you provide all required information and documentation about your current financial situation, we can determine if you qualify for temporary or long-term relief, including solutions that may allow you to stay in your home or leave your home while avoiding foreclosure.

You can download a Hardship Request online by logging onto your account and selecting Help Center, then Forms. Select the Hardship Request and you can print out this form, complete and send request via email to LossMitigation@FreedomMortgage.com or by fax at 1-866-505-0949. It's important that you contact us as soon as possible to discuss your circumstances.

You can also call a Customer Care representative who are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

You may have the option of making your mortgage payment bi-weekly instead of once a month. Under a bi-weekly schedule, each year you will make 26 half payments instead of 12 full payments. The result is that you will pay the equivalent of one extra monthly payment toward your loan each year. If you do this over the entire term of your loan, you will pay off your mortgage earlier and may pay less interest to the lender.

For advice on whether bi-weekly payments are right for you, please consult your tax advisor or financial planner.

When you pay bi-monthly, your first payment will be held but not yet applied (also known as "held in suspense"). When the second part of your payment is made, and we have received sufficient funds to make one full payment, we will apply the full payment and credit your loan account.

Your payments may increase when your adjustable rate mortgage adjusts. Your new rate is based on an index rate plus a margin that were specified in your original loan documents. If you are concerned about an increase in your monthly mortgage payment, please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

If you're interested in a refinance, please contact a Freedom Mortgage loan officer at 866-759-8624 to learn about available options.

Yes. If you did not receive a billing statement in the mail, login to your account or create an account if you haven’t previously set up your online access, for detailed loan information and payment instructions. If you have trouble logging on, please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

If your mailing address has changed, please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

If you want to update your address online, log into your online account. Choose the loan you want to update from the Accounts page and select the My Information tab on the right hand side of the screen. Change the address fields, update your information and save.

You may also send a request to update your mailing address via email or via mail to Freedom Mortgage Corporation, PO Box 50485, Indianapolis, IN 46250-0485.

The Servicemembers Civil Relief Act provides that interest rates on certain obligations may be lowered while an individual is on active military duty and for a period of time after active duty ends. Please send a copy of your orders to Freedom Mortgage Corporation, PO Box 50485, Indianapolis, IN 46250-0485.

You can complete a Payoff Request online by logging onto your account and selecting Make a Request. You may also contact our Customer Care representatives at 855-690-5900 to request your payoff amount. We are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

You may also send a request via email, fax at (866) 505-0948 or mail to P.O. Box 50428, Indianapolis, IN 46250-0401. Please note that we are not able to send a payoff quote to a third party without the borrower's authorization. Check that authorization is provided at the time of the request.

Freedom Mortgage’s Tax ID number is 22-3039688.

Login to your account and select Recurring Payments from Account Details. Your current payment amount is displayed, and you can also set up to pay more and apply to principal or escrow. Select the frequency you would like to pay, monthly, bi-weekly or semi-monthly. Enter the banking account details from which your mortgage payment will be paid from. Allow 5 business days prior to payment due date for processing. You can cancel recurring payments anytime, keep in mind any recurring payment that has been set up will be withdrawn from your banking account if it is 3 days prior to your due date.

Once you have logged into your account, select the loan you would like to view. You will see in the right side of the screen a Payment History option where you’ll be able to view all the previous payments made on this loan for the last 36 months.

Please contact us as soon as possible if you don't think you will be able to make your mortgage payment. Programs may be available to assist you and these options depend on your individual circumstances. If you provide all required information and documentation about your current financial situation, we can determine if you qualify for temporary or long-term relief, including solutions that may allow you to stay in your home or leave your home while avoiding foreclosure.

You can download a Hardship Request online by logging onto your account and selecting Help Center, then Forms. Select the Hardship Request and you can print out this form, complete and send request via email to LossMitigation@FreedomMortgage.com or by fax at 1-866-505-0949. It's important that you contact us as soon as possible to discuss your circumstances.

You can also call a Customer Care representative who are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

You may make your mortgage payment anytime, 24 hours a day, 7 days a week by calling our automated phone system at 855-690-5900. Customer Care representatives are also available to assist you in making payments Monday through Friday 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time. Please note, additional fees may apply when making a payment through the automated phone system or a Customer Care representative.

If you do not have a copy of your most recent billing statement, you can login to your account or create an account if you haven’t already set up your online access, to access your detailed loan information and payment instructions. If you have trouble logging on, please contact our Customer Care representatives at 855-690-5900. We are available to assist you Monday through Friday 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

Once you have logged into your account, select the loan you would like to view. You will see in the right side of the screen a Payment History option where you’ll be able to view all the previous payments made on this loan for the last 36 months.

Login to your account and select Recurring Payments from Account Details. Your current payment amount is displayed, and you can also set up to pay more and apply to principal or escrow. Select the frequency you would like to pay, monthly, bi-weekly or semi-monthly. Enter the banking account details from which your mortgage payment will be paid from. Allow 5 business days prior to payment due date for processing. You can cancel recurring payments anytime, keep in mind any recurring payment that has been set up will be withdrawn from your banking account if it is 3 days prior to your due date.

You can complete a Payoff Request online by logging onto your account and selecting Make a Request. You may also contact our Customer Care representatives at 855-690-5900 to request your payoff amount. We are available to assist you Monday through Friday from 8:00am – 10:00pm and Saturday from 9:00am – 6:00pm Eastern Time.

You may also send a request via email, fax at (866) 505-0948 or mail to P.O. Box 50428, Indianapolis, IN 46250-0401. Please note that we are not able to send a payoff quote to a third party without the borrower's authorization. Check that authorization is provided at the time of the request.

The Servicemembers Civil Relief Act provides that interest rates on certain obligations may be lowered while an individual is on active military duty and for a period of time after active duty ends. Please send a copy of your orders to Freedom Mortgage Corporation, PO Box 50485, Indianapolis, IN 46250-0485.

Mortgage Statements Mortgage Statements

Once you have logged into your account you will be able to view your Monthly Billing Statement, Escrow Analysis Statement and Year End Tax Statement. Statements are available as a PDF which you can view online, download or print. You can expand each section by clicking on the + symbol.

Login to your account and select Statement from Account Details. Your year-end statement (Form 1098) is used to report mortgage interest paid during current year. This figure is important if you plan to deduct this from your taxes if you’re eligible. Consult your tax advisor regarding tax deductibility.

Login to your account and select Statement from Account Details. To enable paperless statements, just slide the toggle button over. By enrolling in paperless, you will receive an email when the billing statement is available for viewing online and you will not receive a paper copy via US Postal Service. You can un-enroll in paperless at any time and this change will go into effect the next billing cycle. Paperless option is not available for Escrow Analysis or Year-End Tax Statements. Even if you choose paperless statements, remember, you can always view your statement online.

Login to your account and select Statement from Account Details. To enable paperless statements, just slide the toggle button over. By enrolling in paperless, you will receive an email when the billing statement is available for viewing online and you will not receive a paper copy via US Postal Service. You can un-enroll in paperless at any time and this change will go into effect the next billing cycle. Paperless option is not available for Escrow Analysis or Year-End Tax Statements. Even if you choose paperless statements, remember, you can always view your statement online.

Login to your account and select Statement from Account Details. Your year-end statement (Form 1098) is used to report mortgage interest paid during current year. This figure is important if you plan to deduct this from your taxes if you’re eligible. Consult your tax advisor regarding tax deductibility.

Once you have logged into your account you will be able to view your Monthly Billing Statement, Escrow Analysis Statement and Year End Tax Statement. Statements are available as a PDF which you can view online, download or print. You can expand each section by clicking on the + symbol.

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877-220-5533