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Semper Home Loans Review: Smarter, Easier, and Faster?


Attention Zillow shoppers, if you’ve used their mortgage marketplace to compare mortgage rate quotes, you may have come across Semper Home Loans.

The direct-to-consumer mortgage lender seems to advertise quite a bit on the Zillow platform and often takes the top spot in the listings with its seemingly low rates and APRs.

Let’s learn about this mortgage company to determine if they’re the best fit for your home loan needs.

Semper Home Loans Quick Facts

  • Direct-to-consumer mortgage lender founded in 2005
  • Headquartered in Providence, Rhode Island
  • Currently licensed in 40 states and Washington D.C.
  • Funded roughly $300 billion in 2019 via the retail channel
  • Offer home purchase financing, mortgage refinances, and home renovation loans

In 2005, Semper Home Loans was founded by current president Matthew Sullivan, a 20+ year mortgage industry veteran.

The company is located in Providence, Rhode Island, but also has branch locations in several states, including Arizona, California, Florida, New York, Oregon, Texas, and so on.

They funded roughly $300 billion in home loans via the direct-to-consumer retail channel last year, with a home purchase loan share of roughly 60%.

Semper Home Loans helps both prospective home buyers obtain mortgage financing, and existing homeowners looking to refinance their mortgages.

At the moment, they appear to be licensed in 40 states, including: Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington D.C., and Wyoming.

How to Apply for a Mortgage with Semper Home Loans

  • They offer a digital mortgage application called HomeEasy powered by Ellie Mae
  • Allows you to apply remotely from smartphone or computer without any human interaction
  • Borrowers can securely upload paperwork, eSign documents, and link financial accounts
  • Those who want a hands-on approach can call or request a free consultation with a loan officer

One thing I like about Semper Home Loans is the fact that you can apply for a mortgage right from their website without any human interaction.

Many of today’s homeowners want to go it alone, and Semper Home Loans appears to let you do just that if you wish.

They provide a digital mortgage application powered by Ellie Mae that makes it easy to get the ball rolling from just about anywhere.

Once at the application page on their website, simply click on “Create Account” to begin the mortgage application process.

Like a traditional mortgage application, you’ll be required to plug in various personal and financial information.

You can complete the app from any device, such as a smartphone, and do so via a paperless process that should make it a lot quicker, more secure, and more accurate.

Borrowers have the ability to securely upload paperwork, eSign documents, run their own credit reports, and verify assets by linking accounts.

After you’re approved, you can make contact with your loan officer at any time and receive status updates as your loan progresses to the funding table.

If you prefer a more hands-on approach, you can schedule a free consultation with a Semper Home Loans loan originator or simply call them up directly.

Loan Types Offered by Semper Home Loans

  • Home purchase loans
  • Refinance loans including rate and term, cash out, and streamline
  • Renovation loans such as the FHA 203k
  • Conventional loans backed by Fannie Mae and Freddie Mac
  • Jumbo home loans that exceed conforming loan limits
  • FHA loans, USDA loans, and VA loans
  • Fixed-rate and adjustable-rate mortgage options available

Semper Home Loans Mortgage Rates

Semper Home Loans does not publicize its mortgage rates on its own website, which is a slight negative but not necessarily a bad thing.

Some mortgage companies like to advertise their interest rates everywhere (see Intelliloan), while others choose to keep their rates to themselves.

It’s understandable why a lender wouldn’t post them on their website since advertised rates are very limited and come with lots of assumptions.

In other words, if you have a different credit score, property type, loan amount, or transaction type, the rate you see might be nothing close to what you actually qualify for.

That being said, they do seem to advertise quite a bit on Zillow, so if comparing mortgage rates there, you might see their rates to get a better idea of pricing.

I came across them on Zillow and they topped the rankings for lowest mortgage APR and mortgage rate for a sample loan scenario, thanks in part to charging just $1 in lender fees.

To that end, you can probably get a no cost refinance with the company as well if you want to keep closing costs low or nil.

Semper Home Loans Reviews

On Zillow, they enjoy a 4.91-star rating out of 5 possible based on over 1,000 customer reviews.

A good portion of their past customers said both the interest rate and closing costs were lower than expected.

And many of the reviews remarked about the great rates or how low the rates were that they offer.

They are an accredited company with the Better Business Bureau, and have been since inception in 2005. They currently have an A+ BBB rating.

Semper Home Loans has a 2.5-star rating out of 5 on the BBB website, but it’s based on just six reviews, so not a large sample size. And the reviews on the BBB website tend to be customer complaints.

They have a 4.4-star rating on both WalletHub and Birdeye as well based on about 100 customer reviews each.

All in all, they appear to be well-liked by their customers, though like all mortgage companies have their share of issues and unpleasant experiences.

Semper Home Loans seems to be a good choice for a borrower looking for convenience and low rates, who may not need any hand-holding from their lender.

Semper Home Loans Pros and Cons

The Pros

Appear to offer low mortgage rates with $1 lender fees
Offer a digital mortgage application that allows you to apply from anywhere
Can apply for a home loan without contacting a human first
Excellent reviews from past customers
A+ BBB rating
Some of their loan officers also speak Portuguese and Spanish
Free mortgage calculators on site

The Cons

Not licensed in all 50 states
Don’t list mortgage rates or lender fees on their website
Limited branch locations
They don’t service their home loans

(photo: Barry Caruth)

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