Mutual of Omaha Review
Mutual of Omaha is a financial services and insurance company founded in 1909. Noted for its diverse product lineup, the Fortune 500 company has also won praise for its philanthropic Mutual of Omaha Foundation. Through its financial services wing, Mutual of Omaha offers annuities, investment products, and home loans.
In this review, we’ll be focusing on its mortgage refinance loans, which can help homeowners access their equity, get a lower rate, and renegotiate terms. So, let’s take a closer look at the specifics to help you decide if Mutual of Omaha is the right option for you.
Pros and Cons of Mutual of Omaha
- Easy application process
- Complete rate information
- Strong loan variety
- Personalized customer service
- Easy-to-use mobile app
- Not available in New York or West Virginia
- Limited physical office locations
What Does Mutual of Omaha Offer?
Mutual of Omaha offers 15-year and 30-year mortgage refinance loans. Available interest rates, annual percentage rates (APRs), and payment amounts vary, and depend on the following criteria:
- Your credit score and borrowing history
- The property’s type and location
- The type of loan you choose
- Verification of your personal information
As of September 2021, Mutual of Omaha advertised the following terms, assuming full amortization and a loan amount of $300,000:
If you’re also interested in tapping into your home equity, then Mutual of Omaha has cash-out refinance options. In addition to conventional loans, it also services VA loans, USDA loans, FHA loans, and jumbo loans.
What To Expect on the Site
In order to get started, Mutual of Omaha asks for some basic information:
- The property’s address
- The property’s estimated market value
- Your desired loan amount
- An estimate of your credit score
- Your email address and phone number
After that, Mutual of Omaha generates custom quotes. You can then compare details of any loan options the company offers you. Mutual of Omaha doesn’t readily publish information on who qualifies for its mortgage refinance loans. The rates and terms quoted in its promotional materials use a sample FICO personal credit score of 780. They also assume the borrower has a debt-to-income ratio of 43%.
On its website, Mutual of Omaha publishes general information about its 15- and 30-year home refinance loans. However, it offers few other details about its interest rates and APRs. Your rates may differ, depending on your FICO credit score, debt-to-income ratio, and other factors. In order to get more information about fees and rates, complete Mutual of Omaha’s fast, free custom quote process.
What People Are Saying About Mutual of Omaha
Mutual of Omaha Mortgage has an excellent Trustpilot score. It holds a score of 4.8 out of 5 stars as of September 2021. The score is based on feedback from nearly 400 customer reviews:
- 89% give Mutual of Omaha 5 out of 5 stars
- 95% give Mutual of Omaha at least 4 out of 5 stars
Additionally, Mutual of Omaha is BBB-accredited with an A+ rating. In fact, it’s been accredited since 1940.
The Bottom Line
Mutual of Omaha is a trustworthy and reliable provider of home financing solutions. Its operational history traces back more than a century, and the company’s mortgage wing enjoys excellent customer reviews. While the company only publishes general information about rates and terms, it has a free and accurate custom quote process. On the whole, Mutual of Omaha could be a good fit thanks to its decades of experience and easy process. Check it out as you compare top mortgage refinance lenders.