Flagstar Bank Mortgage review: how does it work and is it good?

Looking for a mortgage? Check out our review of Flagstar Bank Mortgages - mortgages in all 50 states with fast appliction process.


by Suzana Brito

Published on 02/18/2023

Flagstar Bank Mortgage: get a mortgage with low down payments!

Flagstar Bank logo
Flagstar Bank Mortgage review. Source: The Mad Capitalist

Looking for a new home? Then read our Flagstar Bank Mortgage review to learn more! This lender offers several affordable loan options.

Flagstar Bank logo

How to apply for the Flagstar Bank Mortgage

Learn how to apply for a Flagstar Bank Mortgage. Enjoy several loan options and affordable pricing! Keep reading to learn more!

Let’s dive in deeper to see what they have on offer – whether it be your first time buying or something more permanent!

Credit ScoreConventional loans: 620; Jumbo loans: 700; FHA loans: 580; VA Loans: 660;
Loans OfferedRefinance, Purchase, Jumbo, Home Equity, Fixed, Adjustable, USDA, VA, FHA;
Minimum Down Payment 0% to 3%;
APRVariable, depending on loan type;
Terms15 or 30 years.

What is the Flagstar Bank Mortgage?

Flagstar Bank provides mortgage options for all 50 states in the U.S., including government-backed FHA, VA, and USDA loans, as well as conventional mortgages.

The bank also offers Jumbo loans for larger purchases and HELOCs to borrow against the equity you have in your home.

Thus, you can use their loans for purchases, refinance, or construction costs (if you’re already building a house).

In addition, it takes about 48 hours to get approval for a loan and about 35 days to close it.


Other features

Flagstar offers helpful articles about borrowing in addition to their mortgage products.

Also, you can find various mortgage options for first-home and old buyers.

So it is good for people who want to have many mortgage options, applications, and rates transparency.


Rates and fees

Flagstar charges an origination fee, but they have promotions to waive it.

You can check rates online by providing your credit score, property price, down payment amount, name, and address information.

Is the Flagstar Bank Mortgage good?

African american man with laptop in the living room holding a li
Discover Flagstar Bank Mortgage pros and cons. Source: Freepik

Flagstar Bank Mortgage is good for borrowers that need the flexibility to find the perfect mortgage that fits their needs and preferences.

They can choose from various products and shop in person at branches or conveniently online.

So let’s see their pros and cons to help you decide!

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website


  • Several loan options to choose from;
  • Some mortgages don’t require a down payment;
  • Online and in-person applications;
  • Available to all 50 states.


  • Most loans need a down payment;
  • There aren’t branches available in the states.

Does the Flagstar Bank Mortgage check credit scores?

Flagstar Bank checks credit scores for their mortgage loans, which is important in determining if you qualify.

Most of their loan options require at least a good credit score. However, some government-backed options don’t require a minimum score.

Want to apply for Flagstar Bank Mortgage? We will help you!

Are you ready to select your mortgage from a variety of options?

Learn how to apply for Flagstar Bank Mortgage in our post, and get your loan as soon as possible!

Flagstar Bank logo

How to apply for the Flagstar Bank Mortgage

Learn how to apply for a Flagstar Bank Mortgage. Enjoy several loan options and affordable pricing! Keep reading to learn more!

About the author

Suzana Brito

I'm a Language Studies graduate and have always been interested in writing and sharing knowledge. By creating content about finances and related products, I believe in contributing to people achieving financial freedom and their goals in life.

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