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Supreme Lending Review: A Local Lender That Aims to Close Loans in 20 Days or Less


Today we’ll check out “Supreme Lending,” a mortgage banker out of Dallas, Texas that is all about speed.

In fact, their goal is to close and fund every loan that comes in their door in 20 days or less, using the latest technology and more efficient loan processing.

This is especially important because they specialize in home purchase lending, which is often more time-sensitive than a standard mortgage refinance.

They also believe they can offer lower rates and fees than other lenders thanks to their advanced processing software and automated underwriting systems.

Additionally, their “Give Back Program” provides up to $800 in reduced closing costs to veterans, first responders, and cancer survivors, and possible discounted real estate agent fees as well.

Supreme Lending Fast Facts

  • A direct-to-consumer retail mortgage banker that offers home purchase and refinance loans
  • Founded in 1999, headquartered in Dallas, Texas (a dba of Everett Financial)
  • Funded $16 billion in home loans last year
  • About a third of their overall volume comes from home state of Texas
  • Licensed to do business nationwide including the District of Columbia
  • Has 300 physical branches and 1,800+ employees across the country

Supreme Lending is a direct-to-consumer retail mortgage banker based in Dallas, TX that was founded all the way back in 1999 by Scott Everett.

The company is actually a dba of Everett Financial, which gets its namesake from, you guessed it, their founder.

They are a home purchase-heavy lender, meaning they probably have good relationships with real estate agents and home builders too.

Nearly 75% of their overall volume consisted of purchase loans, with the remainder made up of mortgage refinance loans.

And while they’re licensed to do business nationwide, roughly a third of overall volume comes from their home state of Texas.

Supreme is also quite active in the states of California, Colorado, Florida, and Georgia.

How to Apply at Supreme Lending

  • You can apply online, call/email them, or meet a loan officer face-to-face
  • They offer a digital mortgage application powered by Ice Mortgage Technology
  • Allows you to complete most loan tasks electronically such as linking bank accounts or eSigning disclosures
  • Aim to close loans in 20 days or less by starting the closing process sooner than other lenders

To apply with Supreme Lending, you can either call them, visit a local branch, or head right to the online application on their website.

Whichever route you choose, their digital mortgage application powered by Ice Mortgage Technology (formerly Ellie Mae) allows borrowers to complete most tasks electronically.

This includes the ability to link bank accounts using your login credentials, scan/upload documents, eSign disclosures, and track loan status 24/7.

You’ll also have a dedicated, human lending team that is available to assist whenever you have questions or concerns along the way.

Supreme says it aims to close loans in 20 days or less, and is able to speed up the process by using the latest technology while starting the closing process sooner than other lenders.

Loan Programs Offered by Supreme Lending

  • Home purchase loans
  • Home renovation loans: HomeStyle and FHA 203k
  • Refinance loans: rate and term, cash out, and streamline
  • Conventional loans backed by Fannie Mae and Freddie Mac
  • Jumbo loans
  • FHA/VA/USDA loans
  • First-time home buyer programs
  • Down payment assistance
  • Educator Mortgage Program
  • Fixed-rate mortgages: 10 to 30-year terms available
  • Adjustable-rate mortgages: 5/1, 7/1, and 10/1 ARMs

One area where Supreme Lending really shines is their loan programs. They offer just about anything you could ask for, including purchase, renovation, and refinance loans.

You can get a first-time home buyer loan like Fannie Mae HomeReady or Freddie Mac Home Possible, or an FHA, VA, or USDA loan.

They also offer jumbo home loans, including ones with just a 10% down payment requirement, along with conventional loan offerings.

Those in the market to buy a home can take advantage of their “Lock & Look” program that allows borrower to pre-lock their mortgage rate before they find a property.

Lastly, they offer a so-called “Educator Mortgage Program,” which similar to their perks for veterans, first responders, and survivors, offers up to $1,600 in closing cost credits for teachers, librarians, secretaries, nurses, counselors, and more.

They lend on all major residential property types, including condos, second homes, and investment properties.

You can get both a fixed-rate or adjustable-rate mortgage in a variety of different loan terms.

Supreme Lending Mortgage Rates

One slight drawback to Supreme Lending is their lack of transparency regarding mortgage rates and lender fees.

They don’t appear on their website, so you’ll need to get in touch with a loan officer first to discuss loan pricing before you proceed to an application (assuming pricing matters to you).

Be sure to ask about both mortgage rates and lender fees, such as a loan origination fee, processing and underwriting fees, and so on.

Collectively, these will make up the mortgage APR, which is a more effective tool to compare loan offers than the interest rate alone.

As always, be sure to gather multiple mortgage quotes to ensure you don’t miss out on a better deal elsewhere.

Given their strong customer satisfaction numbers and the fact they’re a mortgage banker as opposed to a large bank, my guess is their pricing is pretty competitive.

Supreme Lending Reviews

Over at Zillow, Supreme Lending has a really impressive 4.97-star rating out of 5 from over 7,000 customer reviews.

The sheer number of reviews combined with the super high score shows they’ve consistently made customer satisfaction a top priority.

A lot of the reviews also indicated that rates and/or fees were lower than expected, which is a good sign in terms of loan pricing.

At LendingTree, they’ve got a similarly high 4.8-star rating from about 500 reviews, along with a 94% recommend rating.

You can also look up specific branch locations near you and find their ratings via Google if you want to see how a certain location performs.

While they aren’t an accredited business with the Better Business Bureau, they do hold a coveted ‘A+’ rating based on customer complaint history.

Supreme Lending Pros and Cons

The Good

  • You can apply online via a digital mortgage application
  • Also have hundreds of physical locations nationwide
  • Aim to close loans super-fast (in 20 days or less)
  • Tons of different loan programs to choose from
  • Excellent customer reviews across multiple ratings websites
  • Free mortgage calculators and mortgage glossary online

The Maybe Not

  • Do not publicize mortgage rates or lender fees
  • May transfer your mortgage to a third-party loan servicer after closing

(photo: Tom Woodward)

3 thoughts on “Supreme Lending Review: A Local Lender That Aims to Close Loans in 20 Days or Less”

  1. Supreme Lending is a nightmare to work with. They overpromise and underdeliver. Communication is an issue between clients and even realtors. We are on day 73 with current delay being lack of attention to docs showing the lender a financing route needed to be changed, and the change in financing was made last minute with a promise of expedition. Urgency didn’t seem to matter though as the only local loan officer decided to take a vacation right after. Save yourself the headache and avoid this lender.

  2. This lender is nothing but lies!!! Really know how to screw over young first time homebuyers with all of their fees and add on’s when there is no Realtor involved. And as far as closing in 20 days.. ha!! Joke! Jason took full advantage of my son, told him one thing and did another. Ran his credit several times… who does this!!! My mortgage company surely did not do half the crap you did!! My son did not know he had a second mortgage until closing day.. and a FHA Chenoa funds has no idea what program he qualified for….. very unprofessional!!!! How does a home for 220,000. End up being almost 240,000. And more with seller giving him 9,000. In closing cost and fund from this so called forgiveness loan 11,800. . Think twice people before you use this lender!!!!!

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