Mutual of Omaha Mortgage Review
Our experts answer readers' home-buying questions and write unbiased product reviews (here's how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.
Mutual of Omaha Mortgage: Overall Lender Rating
| Feature | Insider rating (out of 5) |
| Loan types | 3.5 |
| Affordability | 5 |
| Customer satisfaction | 4.8 |
| Trustworthiness | 5 |
| Total | 4.58 |
Mutual of Omaha Mortgage: Pros and Cons
| Pros | Cons |
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Mutual of Omaha Mortgage Interest Rates and Fees
Mutual of Omaha Mortgage displays a few sample mortgage rates on its website, but to see rates that are customized to your credit situation, you'll need to apply for preapproval.
When you get a mortgage, you'll usually pay some fees directly to your lender as part of your closing costs. Mutual of Omaha Mortgage typically charges processing and underwriting fees, and borrowers may pay between $1,300 and $1,745 for these costs.
Compare Mutual of Omaha Mortgage to Other Mortgage Lenders
Mutual of Omaha Mortgage vs. Rocket Mortgage
Mutual of Omaha Mortgage | Rocket Mortgage |
Types of mortgages Conventional, FHA, VA, USDA, jumbo, reverse | Types of mortgages Conventional, jumbo, FHA, VA |
Standout feature Affordable mortgage options | Standout feature Customer service |
Like Mutual of Omaha Mortgage, Rocket Mortgage is a good choice if a positive customer service experience is important to you. In J.D. Power's 2022 US Mortgage Origination Satisfaction Study, Rocket Mortgage earned the No. 1 spot in customer satisfaction.
However, Mutual of Omaha Mortgage offers some affordable features that Rocket Mortgage doesn't. This includes a minimum credit score of 550 on some of its government-backed mortgages, and the ability to get a mortgage if you have a recent bankruptcy. You'll also need a 620 credit score to get a conventional mortgage with Rocket, while those with lower scores may still qualify with Mutual of Omaha.
Mutual of Omaha Mortgage vs. Chase
Mutual of Omaha Mortgage | Chase |
Types of mortgages Conventional, FHA, VA, USDA, jumbo, reverse | Types of mortgages Conventional, jumbo, FHA, VA, Chase DreaMaker |
Standout feature Affordable mortgage options | Standout feature Chase DreaMaker mortgage |
Both Chase and Mutual of Omaha Mortgage are good options for borrowers looking for affordability. Which one is right for you depends on your needs.
Chase may be a good choice if you're a low-income borrower, thanks to its DreaMaker mortgage. This mortgage is for borrowers who meet income limits, and it allows a 3% down payment with lower-cost private mortgage insurance. It also can be combined with Chase's Homebuyer Grant to get up to $2,500 or $5,000 in down payment or closing cost assistance.
But if you have a lower credit score or a recent negative event on your credit report, Mutual of Omaha may be a better fit.
How Mutual of Omaha Mortgage Works
To get a mortgage with Mutual of Omaha Mortgage, you can apply for preapproval online or start the process over the phone. If you have questions, you can also talk to a loan officer via the live online chat function on the lender's website, though you'll need to provide some contact info to do so.
Mutual of Omaha offers mortgages in 48 states and Washington, DC. It's not available in New York or West Virginia.
This lender offers conventional, FHA, VA, USDA, jumbo, and reverse mortgages.
Mutual of Omaha doesn't set a minimum required credit score for its conventional mortgages, so those with lower scores may like this lender. However, a spokesperson for Mutual of Omaha Mortgage notes that those with scores above 600 are generally more likely to get approved than those with sub-600 scores.
Is Mutual of Omaha a Reputable Mortgage Company?
Mutual of Omaha Mortgage has an A+ rating from the Better Business Bureau. A strong BBB grade indicates a company advertises honestly, responds effectively to customer complaints, and is transparent about business practices.
This lender also has many positive online customer reviews. On its Zillow lender page, it has a 4.89 out of 5-star rating, based on over 950 customer reviews. On TrustPilot, it has 4.7 out of 5 stars, based on over 700 customer reviews.
Mutual of Omaha Mortgage FAQ
Is Mutual of Omaha Mortgage a direct lender?
Yes, Mutual of Omaha Mortgage is a direct lender. This means you'll work directly with a loan officer from Mutual of Omaha to get your mortgage, rather than working with them through a mortgage broker.
How big is Mutual of Omaha Mortgage?
Mutual of Omaha Mortgage lends in all US states except New York and West Virginia. In 2021, it originated more than 33,000 mortgages, according to Home Mortgage Disclosure Act data.
What credit score does Mutual of Omaha use?
Mutual of Omaha Mortgage will look at your FICO score as part of the process of considering whether you qualify for a mortgage. For conventional loans, it doesn't set a minimum FICO score requirement. Some of its government-backed loans allow FICO scores as low as 550.