Today we’ll take a hard look at “NationsChoice Mortgage,” or NCM for short, which bills itself as a leading internet mortgage banker.
That means they operate online, as opposed to doing the brick-and-mortar thing, which could be a plus if you prefer to get stuff done from the comfort of your own home.
It may also result in a cheaper mortgage, assuming they’re able to pass the savings of lower operational costs on to you.
An interesting fact about the company is they were the only lender to successfully help a borrower via the Bush administration’s ill-fated Hope for Homeowners (H4H) program.
This tells me they know how to navigate a tough loan scenario, and is a testament to their overall competence. Let’s learn more about them.
NationsChoice Mortgage Fast Facts
- Online mortgage banker that offers home purchase and refinance loans
- Founded in 1984, headquartered in Gilbert, Arizona
- Currently licensed to do business in just two states: Arizona and California
- Says it funds more than $1 billion in residential mortgages annually
NationsChoice Mortgage is an online mortgage banker that offers home purchase financing and refinance loans for existing homeowners.
It was founded all the way back in 1984 by Chad Fisher, a mortgage veteran who previously worked as a loan officer before venturing out on his own.
Today, his company originates more than $1 billion in home loans annually, despite being licensed in just two states nationwide. Those states include Arizona and California.
How to Apply with NationsChoice Mortgage
- You can call them directly or fill out the quick quote form on their website
- Once in touch with a loan officer you can discuss options then begin the loan process
- They offer a digital mortgage application that lets you complete most tasks electronically
- Borrowers can manage their loan from start to finish via a secure online portal
To get started, either call NationsChoice Mortgage directly or visit their website. If you go online, simply fill out their quick quote form on the sidebar to get in touch with a loan officer.
They’ll discuss loan pricing and provide you with possible options, and if you like what you hear, they’ll help you formally apply.
My understanding is they offer a digital loan process where most tasks can be completed electronically, including linking financial accounts, scanning/uploading documents, and eSigning disclosures.
Once your loan is submitted, you should be able to manage it via an online borrower portal, with a to-do list provided and status updates sent as your file progresses to the closing table.
The one downside is NationsChoice doesn’t seem to let you get started on your own, or price a loan without first speaking to a human.
Loan Programs Offered by NationsChoice Mortgage
- Home purchase loans
- Refinance loans: rate and term, cash out, streamline
- Home renovation loans
- Conforming loans backed by Fannie/Freddie
- Jumbo loans
- FHA loans
- VA loans
- Fixed-rate mortgages
- Adjustable-rate mortgages
Nations Choice Mortgage offers home purchase loans, refinance loans, and home renovation loans.
They lend on primary residences, second homes, and multi-unit investment properties, serving first-time home buyers and seasoned investors.
Existing homeowners can get a rate and term refinance, cash out refinance, or a streamline refinance.
The company also mentions the possibility of skipping two mortgage payments, something I’ve written about in the past.
In terms of loan type, it’s possible to get a conventional loan backed by Fannie Mae or Freddie Mac, or a jumbo loan that exceeds the conforming loan limit.
Alternatively, you can apply for a government-backed home loan, including an FHA loan or VA loan. It’s unclear if they offer USDA loans.
Both fixed-rate and adjustable-rate mortgage options are available in a variety of loan terms, including the 30-year fixed, 15-year fixed, and 5/1 ARM.
NationsChoice Mortgage Rates
NationsChoice does not publicize mortgage rates on its website like some other lenders.
In order to see today’s rates, you’ll need to fill out their quick quote form and wait for a call back from a loan originator.
Alternatively, you can call them directly and speak with a loan officer immediately to receive today’s pricing.
And while they don’t reveal their rates on their own website, they have been known to advertise in mortgage rate tables on other websites, such as over at Bankrate.
From what I saw, they were offering one of the lowest 30-year fixed-rate mortgages on the platform for a sample scenario. Their fees were also low, putting them near the top of the list for lowest mortgage APR.
They also offer their so-called “Lowest Rate and Cost Guarantee” whereby they’ll pay you $1,000 if they’re unable to match the pricing of another lender.
This covers the combination of interest rate, mortgage points, and lender fees – conditions apply and you need to file a claim if you find a better, qualifying offer.
All in all, they appear to be pretty competitive in the pricing department, which is a huge plus if you care about your money.
But take the time to compare their rates and fees to other lenders, especially if you want to take advantage of that guarantee.
NationsChoice Mortgage Reviews
On Zillow, the company has a stellar 4.94-star rating out of 5 from more than 130 customer reviews, which is pretty close to perfection.
Similarly, they’ve got a 4.8-star rating out of a possible 5 on Bankrate from over 100 reviews, with 95% of reviewers saying they’d recommend the company to others.
Over at LendingTree, they’ve got a 4.3 out of 5 rating, though it’s from just six reviews. They also have an 83% recommended score.
Their only not-great reviews come from Yelp, where they have a 3.5-rating out of 5 from 55 reviews.
Lastly, they’ve got an ‘A+’ Better Business Bureau rating, and are an accredited business (since 2015). They also have a perfect 5-star rating on the BBB website, though they only have eight reviews.
You’ll also find hundreds of customer testimonials on the NationsChoice Mortgage website if you want additional feedback.
NationsChoice Mortgage is also a proud supporter of Big Brothers Big Sisters and Fisher House charities, and a portion of the proceeds from each loan are donated to one of these organizations.
In summary, NationsChoice Mortgage appears to offer competitive rates and fees and excellent customer service.
They also have that $1,000 Lowest Rate and Cost Guarantee, so prospective home buyers and existing homeowners in Arizona and California should certainly consider them when shopping their loan.
NationsChoice Mortgage Pros and Cons
- Offer a digital home loan process
- Seem to offer low mortgage rates
- $1,000 Lowest Rate and Cost Guarantee if they can’t beat/match pricing
- Excellent customer reviews from past clients
- Plenty of loan programs to choose from
- A+ BBB rating and an accredited business
- Donate a portion of loan proceeds to charity
- Only licensed in Arizona and California
- Do not publicize their mortgage rates or lender fees