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This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

Mutual of Omaha

Andrew Omalley Andrew Omalley Last update:
NMLS#
1025894
Min Credit Score
620
Repayment Terms
10, 15, 20, 25, 30 years

Overview

Mutual of Omaha is a company that was started in 1909 and currently serves more than 4.6 million individual customers, as well as 36,000 employer groups. Therefore, Mutual of Omaha is a very trustworthy company that has stood the test of time.

Its main line of business is providing mortgages and also catering to people who are looking to refinance their mortgages. This Mutual of Omaha review will focus on everything you need to learn about refinancing a mortgage through Mutual of Omaha.

Mortgage types offered  Home mortgage, mortgage refinance, cash-out refinance
Mortgage amount  Up to 80% of the home value
Repayment term 10, 15, 20, 25, 30 years
APR Up to 3.831%
Minimum credit score 620
Lender type Direct

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Mutual of Omaha: Pros

  • 100+ years of experience
  • Wide range of payment term lengths
  • Streamlined application process
  • Access to up-to-date mortgage rates

Mutual of Omaha: Cons

  • Not available in West Virginia or New York
  • Physical locations are available in only 24 states

 

Application Process

You are able to get a mortgage refinancing quote through the Mutual of Omaha website. This can be done with no hard credit check. If you want to proceed with the mortgage refinancing, then you will being the full application process. This will see you have to subject yourself to a hard credit check.

You will be asked for standard personal information and for details regarding your home and the mortgage. Some of the documents that you will need to provide include bank statements and pay stubs. The process to refinance a mortgage is usually 30-45 days. The exact time depends on your property and the simplicity of your personal finances.

Terms & Requirements

Just like with any mortgage refinancing company, there will be a variety of terms and requirements you need to consider if you are assessing the merits of Mutual of Omaha. In general, the refinancing requirements are pretty standard for the industry as a whole, not being much better or much worse than any of the main leaders in the space.

Mortgage Refinance Requirements

All of the standard requirements are in place when you are looking to get a mortgage refinance through Mutual of Omaha. This includes:

  • At least 18 years old
  • US citizen, resident, or eligible visa holder
  • US bank account
  • Minimum 620 credit score

Mortgage Terms

You are able to cash out the equity you have built up in your home, but you will need to retain 20% equity in the mortgage.

The APR rates that Mutual of Omaha charges vary on a number of factors. This includes the term length and type of mortgage you want to refinance to, as well as other considerations like your credit score and home location.

Repayment Terms

There are some costs associated with refinancing your mortgage, including an appraisal fee, loan origination fee, closing costs, and attorney fees. The closing costs normally are about 2%-3% of the total loan size. Generally, you can get a term length of between 10 years and 30 years.

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Privacy & Security

Mutual of Omaha has a very good track with keeping its customers happy. It has been in operation for more than a century, meaning that it really has stood the test of time. Any documents or information that you share with Mutual of Omaha will be carefully handled and protected.

Mutual of Omaha has extensive security measures in place, as well as having an A+ rating with the Better Business Bureau. It holds licenses with all of the relevant authorities in every state in which it operates.

Customer Support

Mutual of Omaha offers a great level of customer support. There is a very useful mortgage app that allows you to safely and securely scan documents and check on your loan status no matter what time of day it might be. You can also get direct access to your loan officer through this app.

The support team is also on hand to answer questions through the live chat feature or by email. Finally, you can also visit one of Mutual of Omaha’s physical branches if you wish to get an in-person experience.

Final Thoughts

Mutual of Omaha is one of the most established providers of mortgage refinancing in the United States today. It has a great track record of looking after its customers, providing a flexible range of refinancing options with competitive terms.

With a very streamlined application process and a great app to manage your loan, Mutual of Omaha can be a great fit for many people.

Address

3300 Mutual of Omaha Plaza, Omaha, NE 68175

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Disclaimer: TBA

Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Andrew Omalley Andrew Omalley
Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.
This review is based on the writer's personal opinion.