Financial Freedom Mortgage Interest Rate and Cost Review

Is Financial Freedom Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Financial Freedom Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Financial Freedom Mortgage nationally:

Review ItemFinancial Freedom Mortgage
Interest Ratehigher than other lenders (+0.11%)
Loan Related Closing Costshigher than other lenders (+$1104)
National Rate and Closing Cost Star Rating(2.5)

On average, Financial Freedom Mortgage’s interest rates were higher than those of other lenders (+0.11%). Its loan related closing costs were also higher than those of other lenders, with a difference of +$1104. Overall, combining interest rates and closing costs we estimate that Financial Freedom Mortgage tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 2.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Financial Freedom Mortgage, check out its website at:

Financial Freedom Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Financial Freedom Mortgage was most active in:

  1. Jersey City, NJ
  2. Washington, DC
  3. Baltimore, MD
  4. Toms River, NJ
  5. Ocean City, NJ

Financial Freedom Mortgage’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Financial Freedom Mortgage originated FHA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

New Purchase MortgagesFHA
Interest Rate Difference+0.00%
Loan Related Closing Cost Difference+$65
Cost Adjusted Rate Difference+0.01%
National Star Rating(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference+0.06%+0.15%+0.05%
Loan Related Closing Cost Difference+$685+$1473+$21
Cost Adjusted Rate Difference+0.11%+0.23%+0.05%
Average Star Rating(3)(2.5)(3.5)

As a summary, Financial Freedom Mortgage is similar to other lenders for FHA purchase mortgages. For refinancing mortgages, Financial Freedom Mortgage is similar to other lenders for VA mortgage refinance. It is more expensive than other lenders for Conforming and FHA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Financial Freedom Mortgage:

Registered name: Financial Freedom Mortgage
Registered city and state: MOUNT LAUREL, NJ, 08054
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Financial Freedom Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.