Today we’ll check out LeaderOne Financial, a 100% employee-owned mortgage lender based in Overland Park, Kansas.
Despite being founded in the early 1990s, they pride themselves on being both green and paperless, aka digital.
But they also stick to their Midwestern values, which means respecting their customers, keeping their word, and treating people fairly.
Their goal wasn’t to be the biggest mortgage lender out there, but one known for its “ethics and stellar customer service.”
Based on their close to 20,000 positive customer reviews, they appear to be meeting that goal. Read on to learn more about the company.
LeaderOne Financial Fast Facts
- Retail, direct-to-consumer mortgage lender
- Founded in 1992, headquartered in Overland Park, KS
- More than 70 branches and 500 employees nationwide
- Funded more than $4 billion in home loans last year
- Most active in states of Missouri and Washington
- Currently licensed to do business in 46 states and D.C.
- Also operate a wholesale channel for mortgage brokers
LeaderOne Financial Corp. is a retail, direct-to-consumer mortgage lender that offers home purchase financing and mortgage refinances.
They’ve been around since 1992, which is a pretty long time for a mortgage lender. Or any company for that matter.
Despite their “old age,” they embrace the latest technologies to make the loan process as fast and easy as possible.
The Overland Park, KS-based company also has more than 70 branches and 500 employees nationwide.
So there’s a decent chance you could work with an individual in person if that’s your preference.
Currently, they’re licensed in 46 states and the District of Columbia. They do not operate in Alaska, Delaware, Hawaii, or New York.
Last year, they funded a healthy $4.05 billion in home loans across the country, with a 55/45 split of home purchase loans and mortgage refinances.
Interestingly, they produced the highest volume in the state of Washington, even more than their quasi-home state of Missouri.
The company also does a good amount of business in the states of Texas, Illinois, Minnesota, Arizona, and even New Hampshire.
Since inception, they’ve lent more than $12 billion to over 23,000 families nationwide.
How to Apply with LeaderOne Financial
To get started, you can visit a local branch or simply head over to their website.
There’s an online directory that lists all of their branches and loan originators so you can find someone to work with nearby.
Alternatively, you can just dive into the loan application by clicking on “Apply” from the main menu.
Their digital mortgage application is powered by SimpleNexus, one of the main players in the industry.
You can also download their free smartphone app if you prefer to work via your mobile device.
Either way, you’ll be able to calculate payments, get pre-qualified, scan and upload documents, and track loan progress.
You can also eSign disclosures and closing documents and connect with your lending team whenever you have questions.
Once your loan is submitted, you can visit the borrower portal at any time to satisfy outstanding conditions or check status.
Loan Programs Offered by LeaderOne Financial
- Home purchase loans
- Refinance loans: rate and term, cash out, streamline
- Home renovation loans
- Conforming loans backed by Fannie/Freddie
- Jumbo loans up to $3 million loan amounts
- FHA loans
- USDA loans
- VA loans
- Reverse mortgages
- Fixed-rate and adjustable-rate options available
LeaderOne Financial has a good selection of home loan programs to choose from, whether you’re buying a home or refinancing an existing mortgage.
You can get a conforming loan backed by Fannie Mae or Freddie Mac, or a jumbo loan with a loan amount up to $3 million.
They also have the full suite of government lending products, including FHA, USDA, and VA loans.
And they offer renovation products such as the FHA 203k loan, along with reverse mortgages for seniors.
Both fixed-rate and adjustable-rate mortgage options are available, including 5/1 and 7/1 ARMs.
So there’s a good chance you’ll find what you’re looking for, no matter what it is you’re after.
LeaderOne Financial Mortgage Rates
Like a lot of other mortgage companies, LeaderOne Financial doesn’t post their mortgage rates online.
While it can helpful to quickly see sample interest rates to get an idea of pricing, they are in fact just samples.
When it comes down to it, you’ll need to get a real mortgage rate quote for your particular scenario from whichever company or individual you choose to work with.
So while it’s nice see rates online instantly, you should still always get on the phone and discuss rates and fees with a human.
Anyway, it’s unclear how competitive they are relative to other banks and lenders because we’ve got nothing to go on.
And they don’t have a list of lender fees posted either. Be sure to inquire if they charge fees for underwriting, processing, or loan origination.
LeaderOne Financial Reviews
At Experience.com, LeaderOne Financial has an excellent 4.91-star rating from over 16,250 customer reviews.
You can also filter by employee to see individual rating from their 100+ loan officers.
On Zillow, they have an even better 4.94-star rating from over 550 customer reviews, along with a 4.9-star rating on WalletHub from about 1,000 reviews.
And they also have a 5.0-star rating on Google from over 500 reviews.
The only blemish at the moment is their C+ rating on the Better Business Bureau (BBB) website.
The reason for the average rating was due to a failure to respond to one complaint filed against the business.
So hopefully it was a one-off issue and not a sign of bigger problems.
In closing, LeaderOne Financial seems to be making the vast majority of their customers really happy.
They offer a wide selection of loan programs, use the latest technology, and have physical branches in many states.
The only real question mark is their pricing, as they don’t publicize mortgage rates or lender fees on their website.
But if pricing is spot on, they appear to offer excellent service, which could make them a solid choice among the many mortgage companies out there.
LeaderOne Financial Pros and Cons
The Good Stuff
- Can apply for a home loan online without a human
- Also have 70 physical branches nationwide
- Digital mortgage application powered by SimpleNexus
- Lots of loan programs to choose from including reverse mortgages
- Excellent customer reviews across multiple ratings websites
- Free smartphone app
The Maybe Not
- Aren’t licensed in Alaska, Delaware, Hawaii, or New York
- Do not display mortgage rates or lender fees on their website