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Churchill Mortgage is a Tennessee-based home purchase and refinance loan lender. The company is wholly employee-owned.
You might find a lot to like about this lender, especially if you don’t have a credit score and want to use the company’s no-score loan offering, but it’s important to do your homework before you apply for a home loan with Churchill Mortgage.
Churchill Mortgage isn’t one of our partner lenders. But you can use Credible to compare mortgage rates from other mortgage lenders in just a few minutes.
Keep reading to learn more about taking out a purchase or refinance home loan from Churchill Mortgage.
In this review:
- Churchill Mortgage review
- Churchill Mortgage refinance review
- How Churchill Mortgage can improve
- Compare multiple lenders before you apply
Churchill Mortgage review
Best for:
- Borrowers who have been turned down by other lenders because they lack a credit score
- Borrowers that want to close quickly
- Borrowers that prefer working person-to-person over a fully online loan process
Churchill Mortgage is a traditional mortgage lender in many respects, and as such, it offers the standard mortgage loan types and services. But it also has some unique offerings that set it apart from some of its competitors.
No-score loan
One unique product is a mortgage that doesn’t require a credit score. Churchill’s no-score loan offering can help you qualify for home financing if you can establish a payment history with nontraditional lines of credit.
You’ll need proof of four tradelines with no late payments for the most recent 12 months. Eligible accounts include utilities, insurance you pay out of pocket, tuition, and rent payments.
Churchill says you have a better chance of being approved for a no-score loan if you apply for a 15-year mortgage and put 20% down on your home purchase. You’ll have to be patient while waiting for approval, though. It can take 60 days to underwrite a no-score loan.
Standard mortgage loans
The vast majority of borrowers use a conventional loan to finance their home purchase. Churchill Mortgage offers both conforming and non-conforming (jumbo) loans.
Conventional loan terms with Churchill range from 10 years to 30 years. For a conventional loan, you’ll need to put down at least 3% and have a credit score of 620 to qualify. Jumbo loans require more money down and a credit score of at least 700.
Churchill Mortgage also offers a host of government home loans, such as FHA loans, VA loans, and USDA loans.
FHA loans can be a good choice if you don’t have a high enough credit score for a conventional loan. They also don’t have military service requirements like VA loans or location requirements like USDA loans. The FHA imposes an upfront mortgage premium and annual mortgage insurance premiums for all FHA loans.
Here’s a detailed look at Churchill Mortgage purchase loans:
| Mortgage purchase programs | Conventional, jumbo, FHA, VA, USDA, no-score |
| Loan terms | 10 to 30 years |
| Rates and fees | Rates and fees depend on loan type, borrower’s qualifications, discount points, and lender credits. Some products require mortgage insurance. Contact a loan officer for more information.
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| Minimum credit score |
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| Minimum down payment |
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Learn More: 5 Types of Mortgage Loans: Which One Is for You?
Churchill Mortgage loan process
The mortgage process starts with getting a pre-approval. Although you can do that the conventional way, through a loan officer who verifies your income and credit, Churchill Mortgage’s Certified Home Buyer program goes a step further.
To become a certified buyer under Churchill’s program, you’ll submit your financial documents and wait for an underwriter to review them and conditionally approve you for a home loan. Churchill claims its program leads to more quickly accepted offers and faster closings.
When looking for a new home, you can also take advantage of Churchill’s Rate Secured Program. This allows you to lock in your mortgage rate for 90 days, at no charge, and it’s renewable for an additional 90 days if you need more time to find a home.
You can start the application process online by requesting a call from a loan officer or by calling the 888 number listed on the Churchill Mortgage site and asking to be connected to a loan officer in your state. The online request requires a name, phone number, and email. Having your call transferred requires a name and phone number. Later, you can submit documents and track your application’s progress online or through the Churchill Mortgage mobile app.
Churchill Mortgage refinance review
Churchill Mortgage’s refinance loans are similar to its purchase loan lineup except that it doesn’t offer USDA refinancing.
Conventional refinance loans
If you want to lower your interest rate, extend your loan term, lock in a fixed rate or eliminate your permanent FHA mortgage insurance premium, a conventional refinance loan might be the best way to do it.
Churchill offers rate-and-term and cash-out refinancing for conforming and non-conforming mortgage loans. Note, however, that it brokers some jumbo loans rather than underwriting them in-house.
FHA refinance loans
If you want to lower the rate on your FHA loan or draw against your equity, you can do so with Churchill Mortgage. It offers both streamline and cash-out FHA refinance loans.
VA refinance loans
Churchill Mortgage offers VA interest rate reduction refinance loans (IRRRLs) and cash-out refinance loans. You’ll likely pay a funding fee with either type.
Take a look at Churchill’s refinance loan programs in more detail:
| Mortgage refinance programs | Conventional, jumbo, FHA, VA, no-score |
| Loan terms | 10, 15, 20, and 30 years |
| Rates and fees | Rates and fees depend on loan type, borrower’s qualifications, discount points, and lender credits. Some products require mortgage insurance. Not disclosed on website. Contact loan officer for more information.
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| Minimum credit score |
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Check Out: How to Refinance Your Mortgage in 6 Easy Steps
How Churchill Mortgage can improve
Churchill Mortgage’s no-score loan product and Certified Home Buyer program give it an edge over other lenders for some borrowers. But financing with Churchill isn’t without its downsides.
Some areas where Churchill Mortgage can improve include:
- Information accessibility: Speaking with a loan rep, getting rates, and even downloading a homebuyer’s guide all require that you give your name, phone number, and email address. However, Churchill will then honor your request to be placed on its do not call list.
- Transparency: Despite claims of transparency, the website gives incomplete information about loans. For example, you won’t find any information about fixed-rate vs. adjustable-rate loans in its conventional loan information. Nor does the site disclose rates or fees.
- Customer service: The website does have the phone number listed prominently, and it has a chatbot that can connect you to a loan officer. However, there are no help pages, no FAQ pages other than one for no-score loans, and there’s no “Contact Us” page.
Compare multiple lenders before you apply
Churchill Mortgage might be a good choice for financing your home purchase or refinancing your current loan, but it’s important to compare rates from other mortgage lenders before you apply.
Credible lets you compare personalized rates from several lenders all at once. You can find a great mortgage rate in just a few minutes.
