Today we’ll check out “Celebrity Home Loans,” a mortgage lender that aims to treat you like a star. Perhaps more specifically, a Rockstar.
This means VIP service from start to finish to ensure you don’t have to “sweat the details” of your home loan financing.
Instead, you can focus on finding your dream home and leave the rest up to your mortgage lender.
This approach might explain how the company came up with its name, and what’s is mission is for its clients.
So far they seem to be living up to those lofty expectations, with excellent customer reviews from tens of thousands of customers. Read on to learn more.
Celebrity Home Loans Fast Facts
- Direct-to-consumer, retail mortgage lender
- Offers home purchase loans and mortgage refinancing
- Founded in 2006, headquartered in Oakbrook Terrace, IL
- Funded nearly $7.5 billion in home loans last year
- Most active in California, Colorado, and Illinois
- Do a near equal split of purchase loans and refis
- Licensed to do business in 48 states and D.C.
- More than 700 licensed loan originators nationwide
Celebrity Home Loans is a direct-to-consumer, retail mortgage lender with physical branches scattered throughout the country.
At last count, they employed more than 700 licensed loan originators nationwide.
They also own about two dozen other mortgage brands, including eClick Lending, Heritage Home Loans, Midwest Equity Mortgage, NEO Home Loans, and many others.
So there’s a chance you could obtain a mortgage from one of their many sister companies.
CHL got its start back in 2006, at around the time the housing market was peaking and began to fall.
Still, they managed to navigate the biggest housing crisis in recent history and fund tens of billions in home loans since.
Last year, they mustered an impressive $7.5 billion in loan origination volume, making them one of the bigger players on the national scene.
They do a near equal split of home purchase loans and refinances, which tells me they’re suitable for either purpose.
And while licensed in 48 states and the District of Columbia, they’re most active in California and Colorado, along with their home state of Illinois.
How to Apply with Celebrity Home Loans
To get started, your best move might be to visit their website from your computer or smartphone.
There you’ll be able to search for a nearby loan officer or branch office via their online directory.
You can see who works in an office nearby and quickly obtain contact information. Then reach out to get today’s pricing or inquire about available loan programs.
If you’re in the market to buy a home, their “Mortgage Assured” program goes beyond a standard pre-qualification and pre-approval to help you compete with cash buyers.
My assumption is it’s a fully-underwritten mortgage approval that gives home sellers confidence you’ll be able to obtain financing.
Once you find an individual you’d like to work with, you can click on the “Apply Now” button from their personal webpage to get started.
You’ll be prompted to create an online account with the option to also download Celebrity Home Loans’ free smartphone app.
Many loan tasks can be completed electronically, whether it’s the application itself, eSigning disclosures, or scanning/uploading documents.
Those who download the app have the option to message their loan officer instantly and receive updates as they go.
All in all, Celebrity Home Loans is big on technology and customer service, so you should get the best of both worlds here.
Loan Programs Offered by Celebrity Home Loans
- Home purchase loans
- Home renovation loans
- Refinance loans: rate and term, cash out, streamline
- Conforming loans backed by Fannie Mae and Freddie Mac
- Jumbo loans
- FHA loans
- USDA loans
- VA loans
- Fixed-rate mortgages: 30-year, 15-year, and other terms available
- Adjustable-rate mortgages: 5/1 and 7/1 ARM
Celebrity Home Loans offers a wide array of loan programs to fit nearly any situation.
Whether you’re buying a home, renovating one, or refinancing an existing mortgage, they’ve got solutions.
This includes conforming loans backed by Fannie Mae and Freddie Mac, jumbo loans, and the full suite of government options (FHA/VA/USDA).
And they lend on all major property types, whether it’s a primary residence, vacation home, or investment property.
Both fixed-rate and adjustable-rate mortgages are available in a variety of loan terms, including 5/1 and 7/1 ARMs.
Celebrity Home Loans Rates
One area where they lack information is loan pricing. There isn’t a section dedicated to mortgage rates or lender fees.
This contrasts some other banks and mortgage lenders that post daily mortgage rates and/or a list of lender fees.
As such, you’ll need to get in touch with a loan officer to obtain pricing your unique loan scenario. And to find out if they charge lender fees, such as a loan origination fee.
Be sure to compare the rate and fee they provide, collectively the mortgage APR, with that of other banks and lenders.
Doing so will allow you to determine how competitive they are relative to other options out there.
Service is definitely high up the list when it comes to selecting a mortgage company, but so is pricing, as it will stay with you for potentially decades to come.
Celebrity Home Loans Reviews
Over at Experience.com, Celebrity Home Loans has a solid 4.89-star rating out of a possible 5 from nearly 24,000 reviews.
You can see loan originator reviews as well if you want to see how a particular individual fared in the past.
This might be beneficial given the large number of folks employed by the company.
On Google, they have a perfect 5-star rating from about 1,500 customer reviews. Again, a great sign.
If you know the loan officer’s name, you might also be able to find personal reviews on Zillow.
And while they aren’t an accredited business with the Better Business Bureau (BBB), they do hold an ‘A+’ rating based on customer complaint history.
To sum things up, Celebrity Home Loans is committed to providing exceptional service to its customers.
And their many positive reviews show they’re holding up their end of the bargain.
So whether you’re buying a home or refinancing an existing mortgage, you should be in good hands.
The only question is how competitive they are relative to other options. Because they don’t lead with price, you may also want to compare their rates/fees to other companies before you proceed.
Celebrity Home Loans Pros and Cons
The Good Stuff
- Can apply for a home loan online or via smartphone
- Also have physical locations in several states
- Offer a mostly paperless, digital loan process
- Lots of loan programs to choose from
- Excellent customer reviews
- A+ BBB rating
- Free smartphone app
- Free mortgage calculators and glossary online
The Maybe Not
- Not licensed in Nebraska or New York
- Do not publicize mortgage rates or lender fees
(photo: Neal Fowler)