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J.G. Wentworth Mortgage Review: Understanding What’s In It For You

This J.G. Wentworth mortgage review will provide you the vital information you need to know before you even sign a loan document with the company. This will help you understand every single detail about the product that they offer to help you come up with an informed decision in the end.

JG Wentworth Mortgage Review

In a data published by the Economic Research of the Federal Reserve Bank of St. Louis, it states that as of the third quarter of 2019, the United States has a nearly $29.2 trillion total value of real estate owned by individual.

Meanwhile, the country, as of 2019 does have a total mortgage debt of $10.5 trillion, which means Americans do have $18.7 trillion in home equity.

Mortgage debt is one of the topmost types of loans in the country today, and experts believe the number of people getting mortgages will not decrease this year and in the years to come.

Well, that is not surprising because people, at the end of the day, want to have a home they can call their own. That is why it does not matter if they loan the money from the bank, or any other lending companies, for as long as they get to have their own space.


Now, just like any other types of loans, there are a lot of lending companies and/or financial institutions out there providing mortgage to individuals who need it.

With so many options, it can really get overwhelming sometimes. So, to help you trim down your options, today, we are going to do a J.G. Wentworth mortgage review.

J.G. Wentworth may not be as popular as other lenders out there, but this company definitely has what it takes to compete with other big names in the industry. Of course, it is not perfect, and we’ll tell you more about that as we go along with our review, but it’s worth checking out.

So, to keep you on track, we are going to particularly share information with you based on the following questions:

  • Who is J.G. Wentworth?
  • What kind of mortgage does J.G. Wentworth offer?
  • What do borrowers need to know about J.G. Wentworth mortgage?
  • Who qualifies for a J.G. Wentworth mortgage?
  • How to apply for a J.G. Wentworth mortgage?
  • What are the pros and cons of J.G. Wentworth mortgage?


J.G Wentworth may not be a household name like its competitors, but it surely is, as we have said earlier, something to look into if you are planning to get a mortgage.

J.G Wentworth was founded in 1991 as a merchant bank. Yes, it’s been there for a long time now. From a tiny group, it has grown to a company with 600 employees to date.

Furthermore, the company offers a variety of products and services, which include personal loans, prepaid credit cards, as well as signature structured settlements, which is actually what the company is known for.

If you want to learn more about J.G. Wentworth’s structured settlement payments, you may check the below video created by the company:

From what it already offers, J.G Wentworth added mortgages into its product offerings in 2015. They did so after the company has acquired WestStar Mortgage Inc.

Based on the Consumer Finance Protection Bureau (CFPB) data, J.G. Wentworth Home Lending per se has originated more than 14,000 loans in 2015 alone.

Moreover, it has been found to have funded more than $10 billion in loans since its birth.

J.G. Wentworth offers various loan types such as conventional lending options, VA, USDA, and FHA loans.

If you are planning to buy a house and loan the money from J.G. Wentworth Home Lending, the company is currently headquartered in Woodbridge, Virginia. It has offices in 14 states, and can also be reached online.


As a borrower, in this case, a mortgage borrower, it is important to know more about the different kinds of mortgage that lenders offer. This way, you get to learn and choose which fits you best.

If you are planning or looking at getting a mortgage from J.G. Wentworth, know that the company offers a number of options to choose from.

J.G. Wentworth offers several options not just for conventional loan customers, but also those with ow-to-moderate income and lower credit scores.

For your reference, here’s what you can expect from J.G. Wentworth:

  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage
  • Federal Housing Administration (FHA) Loan
  • U.S. Department of Agriculture (USDA) Loan
  • Veteran Affairs (VA) Loans
  • Refinance

Now, let’s discuss each option further —

Fixed-Rate Mortgage

J.G. Wentworth’s fixed-rate mortgage is ideal for borrowers or home buyers who prefers to have predictable monthly payments. A fixed-rate mortgage means your principal, as well as the interest rate, won’t change over the course of the loan term. Usually, this type of loan is popular among homebuyers who plan to stay put for a long time.

For this type of mortgage, J.G. Wentworth offers 15-year or 30-year loan terms.

Adjustable-Rate Mortgage

This type of loan literally “adjust” over a period of time. In this case, the interest rate will change after an initial fixed-interest period.

Normally, ARMs adjust the interest rate once a year once the initial period expires. Some homebuyers prefer this type of mortgage loan because of lower initial interest rates.

This type of mortgage is ideal for those who plan to sell the property after a few years. This helps you save the most on interest payments.

For this particular type of loan, the company offers three, five, or seven-year loan terms.

Federal Housing Administration (FHA) Loan

This type of mortgage is ideal for homebuyers who have a not-so-attractive credit history. Furthermore, this is also ideal for first-time homebuyers who do not usually qualify for a conventional loan.

For FHA loans, borrowers are given the option to pay only a 3.5% down payment, instead of the typical 20%.

U.S. Department of Agriculture (USDA) Loan

This particular loan type was created for borrowers or home buyers with low or moderate incomes who wish to have a home of their own in rural areas.

USDA loan does not require down payments, and it also offers lower fees and rates as compared to other types of loans out there.

Veteran Affairs (VA) Loans

Veteran Affairs (VA) Loans are specifically designed for current and former members of the U.S. Armed Forces, National Guards, as well as Reserves, and select spouses.

According to J.G. Wentworth, the company specializes in this type of loan.

Similar to USDA loans, VA loans do not require down payment as well. More so, it also does not include private mortgage insurance, and it comes with competitive rates. 


The company features the federal government’s Home Affordable Refinance Program (HARP).  Borrowers may apply for HARP only if they are not behind on their mortgage loan, closed on their loan before March 2009, and a few other qualifying factors. 


When borrowing money from a bank, a credit union, or an online lender, always make it a point to check every single detail possible. As we always say, make sure to shop around and compare features – at least three different lenders – to be able to choose the best option that fits your personal preference, and of course, your financial capabilities.

At this point in this J.G. Wentworth mortgage review, we are going to look into the following details:

  • Loan Amounts
  • Interest Rates
  • Loan Terms
  • Fees and Penalties
  • Collateral Requirements
  • Availability

Loan Amounts

When looking for a mortgage lender, make sure to take into consideration the loan amount they offer. Make sure they are able to provide how much you actually need for the house you are eyeing to buy.

Also, considering this factor will help trim down your options, at the same time, will help ensure you won’t waste a time and effort.

With J.G. Wentworth, the company provides mortgage that ranges from $0 up to $765,600. Surely, every type of mortgage product does have a specific loan amount range. Thus, we highly recommend checking out directly with J.G. Wentworth how much they lend on a particular product.

Interest Rates

Another very important thing to factor in is the interest that the lender charges. This will help you determine if you are capable of paying off the loan or not.

When shopping for a mortgage lender, ideally, you should look for the company that charges the lowest rate possible. That way, you get to save a lot of money.

Unfortunately, J.G. Wentworth does not provide specific rates or at least rate range. On their website, however, it says, “Your mortgage interest rate is personalized just for you.”

To put it simply, the company customizes the rates depending on certain factors — your credit score included.

If you want a rate quote from the company, you may do so by providing them minimal information, which in return will be the basis of what your possible rates could be. Once you have completed this process, and you find the rates within what you are hoping for, then you are given the option to proceed with the formal application online.

Loan Terms

Loan terms refer to the length of time the borrower has to repay the loan. With J.G. Wentworth, loan terms vary depending on the product or service.

For your reference, see the below table:

Type of Mortgage Loan Terms
Fixed-Rate Mortgage 15 years, 30 years
Adjustable-Rate Mortgage 3 years, 5 years, 7 years
Federal Housing Administration (FHA) Loan Not Stated
U.S. Department of Agriculture (USDA) Loan Not Stated
Veteran Affairs (VA) Loans Not Stated
Refinance Not Stated

When it comes to loan terms, keep in mind that as a general rule, the longer the loan term is, the higher the interest rate will be. Meanwhile, a shorter loan means more money saved.

Fees and Penalties

Another factor to consider when shopping for a mortgage lender is the fees and penalties.

With J.G. Wentworth, once you are approved of a mortgage loan, you will then have to coordinate a closing date and continue with your loan officer until you get to finalize the details of the home purchase.

During the time of closing, borrowers are required to pay closing costs plus additional fees.

Borrowers need to set aside about 3% to 5% of the home price to cover fees like the origination fee, as well as other charges.

The loan officer should be able to discuss as well as breakdown all the fees you will be charged off to ensure you won’t get surprised with any fees and charges.

To give you an idea, according to NerdWallet, J.G. Wentworth charges an origination fee, which comes at a flat rate of $795 for most loan types. However, if you are a Costco member, or if you are willing to join, you will be able to avail of a much lower origination fee, which amounts to as low as $275.

Collateral Requirements

All mortgage loans that J.G. Wentworth offer are all secured loans, which means collateral is needed to be able to acquire an approval (apart from other requirements, of course). Like in any other mortgage lenders though, the house you purchase using the loan automatically becomes the collateral, which means in case of default payment, the company acquires the property.


J.G. Wentworth mortgage loan is available in every state and DC except Hawaii, Idaho, Missouri, Nevada, and New York.

As mentioned earlier, the company has various offices in different states, which include Arizona, Connecticut, Florida, Georgia, Iowa, Kansas, Maryland, Michigan, New Hampshire, New Jersey, North Carolina, Pennsylvania, Texas, and Virginia.


At this point in our J.G. Wentworth mortgage, we are going to share with you the qualifications set by the company for those planning to do mortgage with them.

When you apply for a J.G. Wentworth mortgage, it is important to note that one of the major factors they consider is your credit score.

If you do not have a pleasing credit score, we highly recommend checking out other lenders or if you are not in a hurry, work on getting the best credit score as possible.

Having a high credit score means being able to avail of the best rates the company can offer, which in return will allow you to save thousands of dollars over the course of the loan.

Although the company does not display credit requirements upfront on its website, normally, the rule of thumb is to have around 700 FICO score to be able to qualify for a conventional loan. While 620 credit score is required as a minimum for some government-backed loans.

To be sure, again, we highly recommend calling J.G. Wentworth to know if you qualify for a mortgage with them.

Apart from the credit score, the company will also factor in the borrower’s employment history. Borrowers need to have at least two years of proof of employment. The proof would be your W-2s and pay stubs. If self-employed, additional documents will be required to prove your income.

Furthermore, the lender will also analyze your savings to ensure that you are able to cover the down payment required (which is usually 20%).

Another factor that the company takes into consideration is the debt-to-income ratio of the borrower.

All these, again, must be assessed to see if you are qualified for a mortgage at J.G. Wentworth.


This time around, you already know a lot of things — important things — about J.G. Wentworth mortgage.

Now, it’s time to talk about how to actually apply for a mortgage with J.G. Wentworth.

Initially, you have to check your qualifications, which include your checking your credit score as it affects a lot in the approval or non-approval of your loan application.

If you are with the required credit range, you may now opt to choose how to apply for a loan — you can either do it in person by visiting any J.G. Wentworth’s physical locations near you, or by filling out a form online that will provide you with a quote estimate, at the same time, give you the option to apply online.

Similar to any other mortgage application, you will be asked to provide your personal and financial information such as your address, Social Security number, as well as contact information. If you have a co-borrower, he or she needs to provide the same type of information as well.

As your application progresses, you will also be asked to provide employment details like tax returns and pay stubs, as well as your bank information.

By providing this information, the lender gets to verify your ability to afford monthly mortgage payments and the down payment as well.

After all the processes, the lender will then decide if you pass the qualifications, and then give you approval.

Once approved, as mentioned earlier, you will then have to coordinate a closing date and continue with your loan officer until you finalize the details on purchasing the property.


Similar to other reviews we made previously, this J.G. Wentworth mortgage review will not be complete without our list of pros and cons. This, hopefully, will help you determine if the lending company is the right one for you.


  • Provides various mortgage options including government choices like FHA, VA, and USDA (all these are ideal for low-income residents who want to be homeowners).
  • Have in-person offices in 14 states, which makes it ideal for non-tech savvy customers.


  • Unfortunately, the lending company is not licensed to operate in all 50 states.
  • Unlike other lenders that offer an online application process, J.G. Wentworth is not as cohesive.
  • The company charges various fees, which include the origination fee.
  • The lending company does not provide so much information particularly on rates on their website.


To sum it all up, J.G. Wentworth’s mortgage has its own highs and lows. Just like any other lending companies out there, it has its share of good and bad.

While it is ideal for people with high credit scores, it is also worth taking a chance for those low-income individuals who want to have a property of their own.

Do you fall into any of the brackets the company attends to?

Keep in mind, that while this J.G. Wentworth mortgage review provides you with all the essential information you need, and while we can recommend it to you, at the end of the day, the decision lies on you and your capability to repay the loan.

Investment Apps and Websites

Navy Federal Credit Union Mortgage Review: Your Ultimate Guide

If you are looking at getting a mortgage anytime soon, this Navy Federal Credit Union mortgage review will provide you essential information that you need to be able to come up with an informed decision – whether this lending company is the way to go or not.

Navy Federal Credit Union Mortgage Review

In a report published by Statista, it says that the “mortgage industry of the United States has gone through several distinct phases of evolution that have allowed it to reach its current status as the largest and most complex home-financing market all over the world.

Year after year, the numbers continue to rise, and in fact, there is no sign of a decrease in numbers. Mortgage loans have become (and would probably stay as it is) the country’s largest of debt among American consumers.

As of 2018, the total value of mortgage debt outstanding in the United States amounted to $15.4 trillion, and again, experts predict this number is set to rise even in the future.


If you are eyeing to engage in mortgage debt anytime soon, the good news is, there are a lot of lending companies or financial institutions that offer such products and/or services.

You got a lot of options to choose from, and in fact, one of them is the Navy Federal Credit Union, which is what we are going to talk about today.

Through this Navy Federal Credit Union mortgage review, we hope to provide you with all the information you need before you head on to the company and apply for a mortgage.

In particular, we are going to tackle the following:

  • Who is the Navy Federal Credit Union?
  • What are the Navy Federal Credit Union mortgage products available?
  • Who qualifies for a Navy Federal Credit Union mortgage?
  • How to apply for a Navy Federal Credit Union mortgage?
  • Important things you need to know about Navy Federal Credit Union mortgage
  • What are the pros and cons of the Navy Federal Credit Union mortgage?


Established in 1933, the Navy Federal Credit Union offers a number of financial services to particularly to its military members. The Navy Federal Credit Union serves over 9 million members of the military community across all 50 states.

All qualifying members may obtain mortgage products, which include Federal Housing Administration loans, Veterans Affairs loans, as well as conventional loans, and mortgage refinancing. 

As a member of the credit union, one may qualify to borrow money for up to $50,000. Meanwhile, Navy Federal’s maximum annual percentage rate (APR) for personal loans is 18%, which is considerably lower as compared to the maximum APR many other lenders out there.

Apart from military service members, Navy Federal Credit Union also opens its doors for membership among military members’ families. Thus, they too can get competitive loan rates and top-tier customer satisfaction.


As mentioned, the Navy Federal Credit Union provides a wide variety of products to choose from, which include mortgages with no- and low- downpayment requirements.

In particular, the credit union offers the following:

  • VA Loan – The VA loan is available exclusively to eligible service members, as well as veterans and their spouses.  VA Loans are supported by the Department of Veterans Affairs.              
  • Conventional Fixed Rate – This particular loan type is an ideal choice for buyers who want a stable monthly mortgage payment.
  • Adjustable-Rate Mortgages – Unlike the other mortgage types, these loans start with a low fixed interest rate for the initial term and then adjust according to an index.

With a lot of adjustable-rate loan options, families who need to relocate every few years will definitely find it very useful.

But apart from current homes, Navy Federal also offers mortgages for investment properties as well as second homes.

If you want to know more about Navy Federal’s mortgage products, you may check below video from the credit union itself:

Now, if you are a member of the military or a family of a military member, you may take advantage of Navy Federal’s HomeBuyers Choice Mortgage and the Military Choice Mortgage, both are cornerstone loans that are specific to military members and their families.

Just to give you an idea, here’s a quick brief about the two loan products:

  • HomeBuyers Choice – This program is ideal for first-time homebuyers. The HomeBuyers Choice offers fixed-rate loans of 15 or 30 years with up to 100% financing. It also does not have any mortgage insurance premiums. While it does charge a 1.75% funding fee, it can be waived in favor of a higher interest rate. This also helps minimize the amount of money you need at the closing of the loan.
  • Military Choice – Meanwhile, although the Military Choice program has the same benefits as the HomeBuyers Choice, it does come with special pricing particularly on mortgage interest rates and origination fees for active-duty and veteran borrowers based on the lender. The credit union’s standard 1% loan origination fee may be rolled into the loan. It can also be waived in exchange for paying a higher mortgage rate, which may further reduce the amount of money you need to close the account. This particular mortgage product is an ideal choice for service members, reservists as well as veterans who have already used up their VA loan benefit.

Apart from these amazing options, the credit union also offers fixed-rate home equity loans with 5-, 10-, 15- and 20-year terms. It also offers a home equity line of credit (HELOC) that comes with a variable interest rate. With this option, the good thing is that for the former option, the lenders do not charge the application or origination fee. As with the HELOC, it does not charge annual or inactivity fees like what other lending companies do.


This Navy Federal Credit Union mortgage review will not be complete if we are not going to provide you with the requirements in order to qualify for the mortgage.

Fortunately, the credit union did not set a minimum FICO credit score for members, which means, even if you do not have a good credit score, you may be able to loan money from them.

Furthermore, the credit union has no cap on its debt-to-income ratio.

Meanwhile, although some of Navy Federal’s loans do not require down payment, others do but the amount depends on the type of loan the borrower applies for.

Although it seems that borrowing money from Navy Federal is a breeze with its not so strict requirements, becoming a member of the Navy Federal Credit Union is a different story. Please note that to be able to apply for a mortgage debt with Navy Federal, you need to be a member of the credit union.

Navy Federal Credit Union does have strict membership requirements. To be able to qualify and join the credit union, you must either be:

  • an active member or a veteran of any branch of the military
  • a Department of Defense civilian employee
  • a contractor working at a DOD installation
  • a family member of a military member

So, if you belong to any of the above groups, you are definitely qualified to join and be a member of the Navy Federal Credit Union.

Additionally, please take note that only active service members, veterans, and their spouses can qualify for a VA loan. If you are a member through your grandmother or your brother though, you will have to choose another loan offer from the credit union.


As we have mentioned, to be able to apply for a mortgage, you need to be a member of the Navy Federal Credit Union. Being a member makes the loan application process easier.

Anyway, Navy Federal does have a digital application platform called HomeSquad. You can use this app to get a preapproval for a mortgage. Since it’s done online, there are cases when a borrower gets approved immediately.

The online application process is quite simple and easy. You can just upload documents, connect to your bank accounts when you need to very assets, as well as get notifications whenever you reach certain milestones, check the status of your loan, as well as get personalized help from Navy Federal’s representatives.

If an online application is not feasible, you may opt to start an application over the phone instead. Otherwise, you may visit any Navy Federal branch near you to apply in person.

Regardless if you apply online, over the phone, or in person, there is always a home loan advisor available to help you choose the right mortgage for you depending on your situation.

With Navy Federal’s underwriting model, it allows loan officers to evaluate your situation using alternative credit data instead of observing strictly to traditional credit scores. By taking the full financial picture into consideration, Navy Federal is able to evaluate a borrower’s risk.

Some of the things that a loan officer may look into is if the borrower pays rent and other bills on time, if he or she keeps a Federal banking account in good standing and if the borrower makes timely payments on other credit accounts. All these are taken into account to determine the qualification of a borrower for a loan.


At this point in our Navy Federal Credit Union mortgage review, we are going to talk about other essential matters regarding the credit union’s mortgage. This includes the following:

  • Loan Amount
  • Loan Terms
  • Rates
  • Fees
  • Customer Service
  • Online Features

Let’s take a look at each of these items to know more –

Loan Amount

Navy Federal Credit Union mortgage loan amount is on a case to case basis. Meaning, it depends on entitlement, as well as your home location. That is why we highly recommend either calling or visiting a Navy Federal branch near you to know the specifics.

Loan Terms

Navy Federal mortgage terms range from 10 up to 30 years. The credit union will help determine the ideal terms for you depending on your qualifications. Again, it’s best to check with Navy Federal if you need more specific information.


Generally speaking, credit unions charge lower interest rates as compared to banks and other online lenders. With Navy Federal, the annual percentage rate gets to as low as 2.50%. The exact APR depends on a number of factors like the loan amount, the terms, as well as your overall qualification.

For your reference though, you may see below table. The data is coming straight from what’s stated on Navy Federal’s website:

Mortgage Interest Rate (as low as) APR (as low as)
VA Loan 2.750% 3.224%
Military Choice 3.875% 4.149%
Conventional Fixed Rate 2.250% 2.535%
HomeBuyers Choice 4.000% 4.276%  
Adjustable-Rate Mortgages 2.375% 2.500%


As a borrower or a potential borrower, it is important to be well-aware of the fees that the lender might charge you for. After all, you do not want to get surprised paying for something you do not know about, right?

So, with Navy Federal, the credit union charges an origination fee of 1%, plus a 1.75% funding fee. However, borrowers are given the option to skip the origination fee is they will agree to a 0.25% increase in their interest rate.

Meanwhile, if you will opt for the credit union’s home equity loan product, this particular product does not charge an application or origination fee. More so, its home equity line of credit does not charge origination, application, annual or inactivity fees as well.

As with closing costs, it varies depending on your interest rate.

In addition, Navy Federal does not charge fees for documents, underwriting, as well as for the application.

You can also get a 0.25% reduction on their interest rate if you opt to set up an automatic payment from a Navy Federal Credit Union account specifically for home equity products.

Customer Service

One thing that Navy Federal Credit Union can brag about is its customer service.

The credit union provides superb customer service. In fact, it is rated five out of five in the 2018 J.D. Power U.S. Primary Mortgage Origination Satisfaction Study, which makes the credit union one of the bests.

Unfortunately, though, Navy Federal is not rank eligible.

As with the Better Business Bureau, Navy Federal Credit Union has earned an A rating.

According to the Consumer Financial Protection Bureau, they have received 90 mortgage-related complaints about Navy Federal Credit Union in 2018. All have been responded on a timely manner.

Online Features

As mentioned earlier, Navy Federal allows borrowers to apply for a mortgage online. At the same time, members of the union can also access and manage their accounts through its website.


While there are a number of things to like about the Navy Federal Credit Union mortgage, there are also things not to like about, and we are sharing them with you below.


  • The credit union offers a wide variety of affordable mortgage products, which are specifically designed for military members and their families.
  • Instead of relying on credit score, the credit union looks at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
  • It provides an online channel where members can apply for a mortgage. Essentially, the credit union provides a preapproval process and is able to make quick decisions with regards to loan applications.
  • Navy Federal Credit Union offers loans without requiring down payment.
  • The credit union does not require private mortgage insurance on many of its loans.
  • The credit union allows members to loan money of up to 100% of their equity with a home equity loan.
  • The credit union’s website is user-friendly, informative, and allows you to shop for rates online.
  • Navy Federal offers a rate match guarantee and a flexible method to lock in low-interest rates.
  • When you use a recommended real estate agent, you can get a cash-back bonus in many states.


  • Navy Federal Credit Union loans are exclusive only to military members, veterans, qualifying civilian workers, and their families.
  • The Navy Federal does not support the U.S. Department of Agriculture loans.
  • It also does not offer FHA loans.
  • It does not have a prequalification feature, which means you must be a member of the credit union and complete an actual loan application to determine if you qualify for a loan type, and what rate and terms you will be offered for such loans.


To put it simply, the Navy Federal Credit Union mortgage is an excellent choice for military members or their families who are looking for competitive rates, as well as high customer satisfaction, and more choices than other lending companies out there.

As mentioned, if you do not belong to a military family or not a member of the military though, you automatically disqualify to become a member of the credit union and enjoy its perks including competitive mortgage products.

There is honestly so much to like about the Navy Federal Credit Union mortgage products. It’s pretty much obvious as we have written so many benefits as compared to drawbacks.

If you are looking for a lending company to borrow money from, we highly recommend getting a mortgage debt from Navy Federal.

With all the information we have provided in this Navy Federal Credit Union mortgage review, we definitely can say that this is one of the best options to get a loan from if you are a military member or a family of a member of the military.