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Embrace Home Loans offers conforming, FHA, VA, USDA, jumbo, and Beyond by Embrace mortgages.
Embrace Home Loans/Insider
The bottom line: Embrace Home Loans Mortgages has all of the most popular government-backed mortgage options and flexible credit options for borrowers with less-than-perfect credit histories. It also offers a fully-underwritten preapproval option that can help borrowers make strong offers on homes. But this lender lacks transparency around borrower costs.
Overall lender rating
FeatureInsider rating (out of 5)Loan types3.5Affordability4Customer satisfaction5Trustworthiness5Total4.38
Pros and cons
ProsConsBeyond by Embrace program offers mortgages for recent bankruptcies or foreclosures and self-employed borrowersFully underwritten preapproval can help you make a stronger offerLock your rate for up to 360 days on a new construction homePhysical locations are limited to the East CoastDoesn’t offer home equity loans or HELOCsLacks rate and fee transparency
Embrace Home Loans mortgage interest rates and fees
Embrace doesn’t disclose its rates or lender fees online. To find out how much you might pay to get a mortgage with this lender, you’ll need to talk to a loan officer or get preapproved for a loan.
Many lenders provide sample interest rates on their websites to give potential borrowers an idea of the types of rates they offer. Some even offer rate customization tools that let users input some basic information about their credit and the house they’re purchasing to see what they might pay.
Compare to other mortgage lenders
Embrace Home Loans vs. Rocket Mortgage
Embrace Home Loans
Rocket Mortgage
Types of mortgages
Conforming, FHA, VA, USDA, jumbo, Beyond by Embrace
Types of mortgages
Conforming, jumbo, FHA, VA
Standout feature
Beyond by Embrace
Standout feature
Customer service
Embrace Home Loans MortgagesRocket Mortgage by Quicken Loans
Both Embrace Home Loans and Rocket Mortgage have similar mortgage offerings, though if you want a USDA loan or you need flexible credit programs, Embrace will likely be the better fit for you.
Rocket Mortgage earned the No. 1 spot in J.D. Power’s 2022 Mortgage Origination Satisfaction Study, meaning it stands out in customer satisfaction. Embrace wasn’t included in J.D. Power’s annual study, though it has very positive reviews on its Zillow lender profile.
Both are strong choices; the best fit comes down to which offers the best rate and the type of mortgage you’re looking for. So it could be worth getting preapproved with both of these lenders.
Embrace Home Loans vs. NBKC Bank
Embrace Home Loans
NBKC Bank offers mortgages
The College Investor
Types of mortgages
Conforming, FHA, VA, USDA, jumbo, Beyond by Embrace
Types of mortgages
Conforming, FHA, VA, construction, mortgages for pilots, HELOC
Standout feature
Beyond by Embrace
Standout feature
Mortgages for pilots
Embrace Home Loans MortgagesNBKC Bank Mortgage
NBKC Bank is a good lender for borrowers looking for a simple online application process. However, you’ll need a decent credit score, since NBKC requires borrowers to have at least a 640 score on its conforming loans.
If you have a recent negative event on your credit report, Embrace’s Beyond mortgage program might be a better fit for you. NBKC does offer HELOCs, but only to residents of the Kansas City metro area. Embrace doesn’t offer any kind of home equity loan options.
How Embrace Home Loans works
You can get started with Embrace Home Loans online, over the phone, or through its convenient mobile app. Embrace Home Loans lends in all 50 states and Washington, DC. It also has 51 physical branches, mostly located along the East Coast.
Embrace Home Loans offers conforming, FHA, VA, USDA, jumbo, and Beyond by Embrace mortgages. Its FHA offerings include FHA 203(k) loans, which let borrowers finance the cost of repairs and renovations into their mortgages.
Embrace’s “Beyond” mortgages include:
Options for borrowers (such as self-employed individuals or real estate investors) who need to use 1099s or bank statements to prove their income instead of the standard W-2s that lenders typically require.Mortgages for borrowers with recent bankruptcies, foreclosures, or other negative events on their credit reports.
Embrace also has Approved to Move, which is what it calls its fully underwritten preapproval. With this level of preapproval, the lender verifies all of your financial information. This makes it less likely that your financing falls through when you have an offer accepted on a house and apply for full approval. An underwritten preapproval can potentially help you stand out when you make an offer on a house, since the seller can be confident you’ll be able to close on the sale.
Its extended rate lock can also be a benefit for borrowers who are building a home and want to make sure they can keep their rate locked in for the entire construction process.
Is Embrace Home Loans reputable?
Embrace Home Loans currently has an A+ rating from the Better Business Bureau. A strong BBB grade indicates a company is honest in its advertising, transparent about business practices, and effective in responding to customer complaints.
This lender hasn’t been involved in any recent scandals.
On its Zillow lender profile, Embrace Home Loans has a 4.97 out of 5-star rating, based on 2,955 online customer reviews.
Embrace Home Loans FAQ
Is Embrace Home Loans legit?
Yes, Embrace Home Loans is a real mortgage lender based in Rhode Island.
What are Embrace Home Loans’ credit requirements?
To get a conforming loan, you’ll need at least a 620 credit score. For its FHA loans, Embrace Home Loans accepts scores as low as 580. If you get a mortgage through its Beyond by Embrace program, you may qualify for a loan even if you have recent dings on your credit report.
Who is the owner of Embrace Home Loans?
Dennis Hardiman founded Embrace Home Loans in 1983. He is currently the CEO and President of the company.