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LoanFlight Review: Lower Mortgage Rates Because They Advertise Less?


If you haven’t heard of LoanFlight Lending, things are going according to plan.

The mortgage company, which prides itself on not spending a lot of money on advertising, likes to keep things simple (and costs low).

That means not splurging on “expensive ads, sponsorships, or even putting our logo on sports stadiums.” The result is ideally lower mortgage rates for its customers without lender fees.

The logic is they’re spending less, so you should have access to better rates, all else being equal, unlike some of the big guys who spend so much they might not be as competitive.

And remember, a mortgage is a commodity; they’re all basically the same, at least once they fund. There’s nothing special about a name-brand mortgage.

Now let’s learn more about LoanFlight to determine if you should buy a ticket.

LoanFlight Lending Quick Facts

  • Retail direct-to-consumer mortgage lender founded in 2016
  • Headquartered in Tampa, Florida
  • Currently licensed to lend in 12 states nationwide
  • Funded more than $200 million in home loans during 2019
  • More than 90% of their overall volume was mortgage refinancing

While LoanFlight might not be the oldest or largest mortgage lender out there, they still manage to fund hundreds of millions in home loans annually.

And they do so in just a dozen states, which is all the more impressive.

At the moment, they’re operating in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Minnesota, and Texas.

Last year, they seemed to do the most volume in the state of California, with Florida and Texas not far behind.

While they may not be big on advertising, you can catch them in the wild on the Zillow mortgage marketplace, which is where you may have first seen them.

Simply put, they are a no-frills lender that is all about low rates with no lender fees. To that end, they say you’ll see $0 in Section A of their Loan Estimate (LO) if you choose to apply with them.

They’re also big on refinancing, though they offer home purchase financing as well. But more than 90% of their loans were refis last year, if that’s any indication of their niche.

How to Apply with LoanFlight Lending

  • You can apply directly from their website using their digital mortgage application powered by Blend
  • They rely on technology and a streamlined process to keep costs low and pass savings onto you
  • Once you apply you’ll receive an email whenever a new task (additional paperwork) must be completed
  • Easily track loan progress at any time by logging into the loan portal

As noted, LoanFlight keeps things super simple and straightforward. While you can call them up if you prefer to speak to a human, they let you apply directly from their website as well.

With no human interaction necessary, you can simply click “Apply” and you’ll be sent to their digital mortgage application powered by Blend.

It allows you to complete your loan application from any device, save your progress, link financial accounts, scan and upload paperwork, and eSign documents.

You’ll also receive personalized loan rates once you complete the application to see what you’re eligible for.

And remember, LoanFlight doesn’t charge lender fees, so the rates should be listed without a cost.

Once your loan is submitted, you’ll receive an email any time a task becomes due, and you can check loan progress at any time via the online loan portal.

LoanFlight says it uses technology and relies on fewer people to ensure your mortgage loan process goes as smooth as possible.

Loan Programs Offered by LoanFlight Lending

LoanFlight Lending Mortgage Rates

They say “low rates” right on their website, but then don’t list them for us. That’s fine, but it’d be nice to get an idea, right?

Like a lot of mortgage companies, they keep their mortgage rates to themselves, but at least they tell us they’re low, and give us a reason to believe them.

Remember, they don’t spend lots of money on fancy advertisements and run a tight ship, so there’s reason to expect a low mortgage rate.

In terms of lender fees, they say they charge $0, so that should be pretty cut and dry.

This means their interest rates should be viewed as even more attractive relative to any other lenders that charge points and fees.

As always, take the time to shop around if you want to ensure that their rates beat out the competition.

LoanFlight Lending Reviews

On Zillow, they have a 4.76-star rating out of 5 based on about 150 reviews from past customers. Not a ton of data, but overwhelmingly positive for what it is.

On LendingTree, they’ve got a 4.7-star rating out of 5 from 65 reviews, with a 91% recommendation rate.

And on Bankrate, a 4.9-star rating based on nearly 100 customer reviews. So while the reviews aren’t plentiful, which is understandable given their young age as a company, they’re consistently excellent.

While they aren’t Better Business Bureau accredited, they do currently enjoy an ‘A’ rating with the company.

All in all, LoanFlight might be a good fit for a homeowner looking to refinance an existing home loan that is pretty straightforward.

By that, I mean a salaried employee with good credit who needs to refinance an owner-occupied single-family home, without much hand-holding.

For example, if you’ve refinanced in the past and/or have no problem going through the process without a lot of guidance.

These low-cost mortgage lenders tend to excel when it comes to vanilla loan scenarios like the one mentioned above since they’re generally easy to close without much work or hoops to jump through.

LoanFlight Lending Pros and Cons

The Good

  • Do not charge lender fees
  • Say they offer low rates because they don’t spend a lot of money on advertising
  • Offer a variety of popular home loan programs
  • Excellent reviews from past customers
  • ‘A’ rating from the Better Business Bureau

The Maybe Not Good

  • Only licensed in a dozen states at the moment
  • Do not publicize mortgage rates
  • Do not service their own loans (transferred shortly after closing)

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