Finance of America is a mortgage lender that offers a variety of loan options for homebuyers. These include fix and flip loans, single-family rental loans, and student loan refinancing. There are pros and cons to each loan type, so it’s important to shop around before selecting one. There are different mortgage companies and requirements, so it’s best to apply with several to compare costs and terms. In addition, make sure to ask individual loan officers about fees and charges before signing on with one particular lender.
Consumers have largely positive Finance of America reviews, reporting satisfaction with loan officers, interest rates, and service. However, there have been some complaints about loan processing times and loans being sold off without notice. Currently, Finance of America is a Blackstone portfolio company. However, the company is preparing to merge with another privately-owned company called Replay Acquisition, which will make it a publicly traded company. In 2019, it reported $16.6 billion in volume.
Finance of America has average mortgage rates that are comparable to other major mortgage lenders. Additionally, the average number of total loan fees is lower than that of other big companies. In a recent survey, nearly 30,000 people gave Finance of America a review. This company provides local service throughout the country, and it has an A+ rating with the Better Business Bureau.
