Society Mortgage offers a simple online application process for pre-approval. Society Mortgage representatives will work directly with your real estate agent to close on the home.
Society Mortgage stands out in competitive interest rates and friendly customer service. For example, it offers USDA home loans with no money down, allowing more people to purchase their first home. It also offers home renovation loans, FHA loans, VA loans, conventional loans, jumbo loans and 203(k) rehab mortgage loans.
With main offices in Fort Lauderdale, Florida, and a branch office in Portland, Maine, Society Mortgage aims to simplify the mortgage process for home buyers across the U.S.
- People shopping for the lowest interest rates
- People who can qualify for a no-down payment USDA loan
- People looking for diverse mortgage products with the lowest rates
- People with low credit scores
- Low-interest rates
- Diverse mortgage products
- Exceptional customer service
- Easy online pre-approval
- Professional representatives to guide you through the mortgage process
- Some customers complain of poor communication
- Some customers complain of inattentive agents
- One customer experienced identity theft two days after applying for a mortgage
Society Mortgage Ratings at a Glance
Society Mortgage was founded in 2004 as a mortgage brokerage company called CREFCO that now offers Federal Housing Administration (FHA), United States Department of Veterans Affairs (VA) and United States Department of Agriculture (USDA) mortgages directly. Since internalizing all aspects of home loans, it offers exceptional value with great customer satisfaction. It also rebranded as Society Mortgage, aiming to offer everyone mortgages with lower interest rates, higher loan amounts and expanded coverage throughout the United States.
As the Society Mortgage review below reveals, it is a great company because the rates are fair and customer service is exceptional. However, it doesn’t offer all loan types.
Society Mortgage performs well on financial strength. With 18 years of mortgage experience and over 21,300 loans closed, its glowing customer reviews speak for themselves.
On Zillow, Society Mortgage has 4.84 out of 5 stars based on 514 customer reviews. While Society Mortgage isn’t rated by the Better Business Bureau, it has received 4.08 out of 5 stars on 118 customer reviews. According to the Society Mortgage website, it receives an average of 4.5 out of 5 stars for customer reviews.
Reading these reviews, you’ll find many satisfied customers who felt their mortgage agent went above and beyond for them. The dissatisfied customers expressed complaints about not receiving a callback or having an agent hang up on them. While negative experiences are rare, it’s not all glowing reviews.
Customer Service and Phone Number
You can reach Society Mortgage by phone at (866) 847-3001 or by email at info@societymortgage.com. It is open from 8 a.m. to 5 p.m., Monday through Friday. You can also make appointments directly on the website societymortgage.com.
Society Mortgage aims to provide compassionate service for every borrower’s hopeful aspiration with the motto, "No buyer left behind." Society Mortgage will give you a free online quote in minutes.
For pre-qualification, you'll need to provide basic information, including your legal name and Social Security number. You might also be asked to provide proof of income or bank statements. Like all mortgage lenders, Society Mortgage will look at your credit score and debt-to-income ratio to determine loan eligibility.
For final mortgage approval, you might also be asked to provide:
- Pay stubs
- W-2s
- Tax returns
- Employment verification
- Proof of assets
- Other proof of income
- USDA Loans
- FHA Loans
- VA Loans
- Conventional Loans
- Jumbo Purchase Loans
- 203(k) Purchase Loans
- Refinance
Factors to Consider With Society Mortgage
Consider rates, fees, customer service and qualifying criteria to more accurately compare mortgage lenders and quotes. Each factor can significantly impact your borrowing experience and how much you spend. Here’s why each of these factors matters.
Rates
Mortgage interest rates are deceptively simple, but even one-half of a percent in interest rate changes can have a significant long-term impact. Look for a mortgage lender with the lowest interest rates. While interest rates won't be the only consideration, they should be the first. Society Mortgage will give you a quote in minutes. Society Mortgage mortgage rates are competitive, with the company claiming to offer lower interest rates — but be sure to comparison shop to find the best rates.
Fees and Additional Costs
Don't forget the additional costs and fees that can add up. You’ll need to pay closing costs and origination fees that can equal 3% of the loan value or more. Look at total interest and fees to ensure you select the most cost-effective mortgage option. Society Mortgage closing costs are comparable to industry averages. Speak with a Society Mortgage agent to understand individual costs.
Borrower Experience
You want a mortgage lender that offers a smooth, professional transaction and has the expertise to guide you toward the best mortgage product for your situation. Check customer reviews on Zillow, Google, BBB or other sites for this. Society Mortgage gets very good customer reviews, with 4.84 out of 5 stars on Zillow.
Availability
A lender that offers diverse mortgage products may be able to help locate the best opportunities. You only need to qualify for one mortgage, and knowledgeable agents who can guide you toward the best solutions for your financial situation will make qualifying easier. Society Mortgages offer free, fast quotes online and various low-cost loan options, including no-down-payment options for first-time homebuyers.
If you need more specific mortgage types, you can also look for mortgage lenders that don't require tax returns, mortgages for self-employed or mortgages for bankruptcies to meet specific availability requirements.
Why You Should Trust Benzinga
This Society Mortgage review draws on multiple sources as part of Benzinga's ongoing commitment to offering the most comprehensive, accurate and current financial information to assist in your financial decisions. Benzgina researched, analyzed and reviewed customer ratings, BBB ratings, types of mortgages available, company-provided information and history and financial performance to offer a well-researched and balanced review.
Yes. Society Mortgage has many satisfied customers. It offers financial strength and flexible loan solutions to help more people qualify for a mortgage. With the motto of no buyer left behind, you know that Society Mortgage will do everything possible to help you secure a low-interest loan with favorable terms.
Frequently Asked Questions
Is Society Mortgage a reliable mortgage company?
Yes, Society Mortgage is a reliable mortgage company with an 18-year history and over 21,000 loans approved. Customer reviews show overwhelming satisfied customers with few complaints.
Does Society Mortgage do a hard pull?
Society Mortgage won’t do a hard pull for mortgage pre-approval, but it will do a hard pull for final mortgage approval.
What is the average closing time for Society Mortgage?
You can expect to close on a home within 30 to 45 days with most mortgage lenders, with some estimates stating average times have risen to 50 days. You can expect Society Mortgage’s closing times to be similar to average times. However, your closing time can vary by location, financial situation, and loan amount.
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