OneTrust Home Loans
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OneTrust Home Loans
- People seeking a wide variety of home financing options including reverse mortgages
- People with unique situations
- Business owners, investors and second-home purchasers looking for atypical loans
U.S. News Expert Take
“OneTrust Home Loans originates pretty much any type of conventional and government-backed mortgage you can find – but it doesn’t stop there. Borrowers can turn to OneTrust for nontraditional mortgage options, such as construction loans, land loans, bridge loans and rehabilitation loans. However, OneTrust doesn’t operate in a number of states, including New York and Pennsylvania. Plus, details on the specific terms of its loan programs are sparse.”
– Erika Giovanetti, U.S. News Loans Expert
Qualifying for a mortgage through OneTrust depends on the type of home loan you choose. The lender offers a variety of traditional home loans, government-backed loans and loans with down payment assistance. It also funds portfolio loans for those with unique needs and circumstances. OneTrust’s portfolio mortgages are originated and serviced by the lender through the entire life of the loan.
You typically need a FICO score of 620 or higher to qualify for a traditional, conventional home loan. Criteria can be more forgiving for government-backed mortgages. OneTrust’s portfolio program may accommodate applicants whose credit does not fit traditional requirements. You’ll need to show that you can afford the mortgage, and the property must meet the lender’s guidelines. If your situation is unusual or you have concerns about your credit, your best bet is to contact OneTrust directly.
NMLS #46375
OneTrust Home Loans is a privately owned direct lender that offers a variety of home loan products. The San Diego-based lender places an emphasis on customer service.
- You’ll fill out your loan application with your loan officer.
- The application is sent to the underwriting team for an initial assessment. You’ll be advised of any conditions that must be met – for example, documents or information needed – to approve your loan. While it is uncommon to have an underwriting team involved this early in the process, OneTrust says this helps you close your loan faster.
- After the underwriting team has done the initial review, your loan officer or dedicated client manager will reach out to review the status of your application and set a timeline to close.
- Next, the underwriting team reviews the appraisal and title and makes sure you have satisfied all necessary conditions.
- After you’re cleared to close, you can sign your final loan documents and the loan will be funded.
OneTrust Home Loans
OneTrust Home Loans does not currently offer any discounts.
OneTrust Home Loans
The Consumer Financial Protection Bureau received six mortgage-related complaints about OneTrust Home Loans in 2024. Most concerned trouble during the payment process. All complaints were addressed in a timely manner and closed with an explanation.
OneTrust Home Loans does not offer any refinance, home equity loan or home equity line of credit products. The lender does offer reverse mortgages for homeowners age 62 and older.
An initial payment made when the home is bought.
The amount of time you have to repay the mortgage.
The APR (annual percentage rate) you pay to the lender, which can be found in your loan agreement. The default displayed represents yesterdays national average APR for 30-year fixed mortgages.
