Stonegate Mortgage is a mortgage company that cares about helping people live the American Dream. The company believes in opportunity for everyone regardless of social class and circumstances. Stonegate Mortgage offers a variety of loans, including conventional, VA, FHA, USDA (United States Department of Agriculture), non-agency, and HARP (Home Affordable Refinance Program). Continue reading to find out what you can expect from Stonegate Mortgage and the PROs and CONs of this mortgage company.

Stonegate Mortgage – Details and Overview

Stonegate Mortgage is a publicly-traded mortgage company that was established in 2005. They are one of the leading providers in the housing finance market. Stonegate Mortgage underwrites and closes loans, which delivers greater flexibility for customers in having loans with good terms approved and closing on time. The company prefers to handle inquiries about mortgage loans the old-fashioned way. They encourage customers to call them whenever they have questions or concerns about their loans. You are also allowed to contact the mortgage advisor who handled your mortgage. Stonegate Mortgage has branch locations in 12 states and mortgage advisors in 48 states.

Stonegate Mortgage Loan Process Explained

The conventional loans at Stonegate Mortgage have a rate of 4.25% for 30-year and 3.5% for 15-year. Conventional loans consist of fixed interest rates, so that you always know exactly how much you owe unlike with variable rates that can change. People with credit scores as low as 620 can qualify for a Stonegate conventional loan.

30-year FHA loans at Stonegate Mortgage have an interest rate of 3.876%. FHA loans are ideal for first-time home buyers. They are easier to qualify for and have smaller down payments.

This gives you a general idea of what interest rates to expect from the company’s loans, but remember that rates and loan terms vary depending on geographic location, credit history, and loan amount. You’ll only know exactly how much a mortgage would be for you after consulting with the mortgage company.

The loan application process at this mortgage company is easy and personalized. A trained mortgage advisor is assigned to your request and helps you every step of the way. If you have an interest in a mortgage, you can fill out the short application form on their website or call the company at 844-474-3669. You will receive recommendations on what type of loan is best for you based on your situation and needs.

Once you’re ready to apply for a mortgage, your mortgage advisor will ask a series of qualifying questions and request permission to run a credit check. Documents you’ll need for approval include ID, federal tax returns for the past two years, pay stubs from the last 30 days, and W-2 forms from the last two years. Additional documents may be required, such as divorce settlement agreements, inheritance, and business returns.

PROs and CONs of Stonegate Mortgage

PROs:

  • Offers a wide variety of mortgage loans, so you can find one with the most suitable terms for your circumstances;
  • VA loans for veterans are available;
  • They care about helping people live the American Dream;
  • Reputable company;
  • Good terms on loans;
  • Closes loans on time;
  • You are assigned a mortgage advisor to guide you through the loan process;
  • They have mortgage advisors in 48 states;
  • The loan application process is easy and personalized;
  • Your mortgage advisor will make recommendations on which types of loans are best for you based on the information you provide.

CONs:

  • Branch locations are only in 12 states;
  • If your credit score is under 620, you might not qualify for a mortgage.

Stonegate Mortgage Customer Service Review

Many of the customers who wrote positive reviews about Stonegate Mortgage on Yelp are happy that the mortgage advisors they spoke with were knowledgeable, helpful, and patient. Diane from Reno, Nevada, wrote, “I would recommend Stonegate to anyone seeking a mortgage. Their staff was patient and pleasant to work with. Darin, my representative, helped me through the process of online submission, which was new and foreign to me.”

Stonegate Mortgage has also received some negative reviews on their customer service. One customer explained on BBB.org that the company didn’t notify them before doubling their payment due to tax issues. Later on, according to the customer, they changed their payment date to the first of the month from the 15th of the month without any notice.

Contact Information

  • Phone number: If the company has a branch location in your state, you can contact that branch’s phone number. Otherwise, call 800-686-2404 to speak with a customer service representative.
  • Webpage: www.stonegatemtg.com;
  • Email: customerservice@stonegatemtg.com;
  • Social media pages: On their Facebook page, Stonegate Mortgage shares important news surrounding mortgage loans and interior design tips. They also have a Twitter and a LinkedIn account, but those two are not used as often as the Facebook page.

Conclusion

Stonegate Mortgage is a good mortgage company to obtain a mortgage from because their loan terms tend to be fair due to their support of the American Dream. There are a wide variety of mortgage loans you can apply for, including some you may not have heard of. You may qualify for a mortgage with better terms than the type you were originally thinking of obtaining. A Stonegate Mortgage advisor will explain your options, so you can make the best decision. Several customer reviews praised the mortgage company for patiently guiding them through the process.

Do you have any experience with Stonegate Mortgage? Let us know what you think of the mortgage company in the comments below.