Churchill Mortgage Review | Ascension


Best benefits

A lender who helps you develop a strategy for paying off your debts

Churchill is different from other lenders in a way that you may find very attractive.

Its mission is to do what’s right for you. Churchill says, “We want to prepare you for financial success and ultimately set you free.”

Churchill’s unusual approach is to focus on your financial well-being, not on getting the best bang for your buck. Churchill suggests loan options that get you out of debt faster and at lower cost. To get a faster repayment, you usually need to buy a home in a lower price range. If that’s not right for you, Churchill offers traditional 30-year mortgages.

Mortgage without score

Churchill Mortgage offers a home loan to borrowers with no credit score. This is because Churchill is for people who have worked hard to pay off their debt. Work really hard – some of those hopeful buyers closed all of their credit accounts and spent years paying them down to zero. Others are part of the cash lifestyle tribe and generally shy away from credit because of the cost and potential for financial pain. Either way, the absence of recently reported credit data can leave a person without a credit score. It does not mean that you are not creditworthy.

The No Score Mortgage could be a great option for you if you don’t have or don’t want credit accounts. It could also be a great choice if you are considering building credit but haven’t started yet.

Specialized mortgage options

Along with the usual choices, Churchill also offers a few mortgage options that can’t be found everywhere:

  • USDA loan: a no-down loan for low- to moderate-income borrowers who purchase a qualifying home, usually in a rural area
  • Bank statement loan: for self-employed borrowers who wish to qualify on the basis of cash flow rather than tax returns and pay stubs
  • Doctor loan: a low down payment without mortgage insurance for high income healthcare professionals
  • Construction credit: for borrowers who buy a house that has not yet been built

Churchill says that in 2022 he will offer a piggyback loan option. Piggyback loans are typically used to help a borrower avoid mortgage insurance. For example, you put down a down payment equal to 10% of the purchase price, get an 80% mortgage, and get a piggyback loan (second mortgage) for the remaining 10%.

Low down payment mortgage

Churchill offers a number of home loan options that require a very low down payment. You can get a conventional mortgage in Churchill with a down payment of 3%. If you qualify for a VA loan or a USDA loan, the down payment requirement is zero.

Free rate cap

Churchill offers a free price cap. (Some lenders call this a rate freeze.) After your rate is approved, Churchill keeps it for you free of charge for 90 days. If mortgage rates drop before your loan closes, Churchill will lower your rate. If mortgage rates go up, yours stay the same. You can extend your price cap for an additional 90 days if necessary.

Note that the cap rate is not available on all loans.

Monitoring refinancing rates

If you want to keep an eye on interest rates and refinance your mortgage as soon as it is financially reasonable, you can sign up for Churchill’s Rate Watch. You are automatically notified when interest rates reach your target.

What could be improved

No home equity loan or HELOC

Churchill does not currently offer a Home Equity Loan or Home Equity Line of Credit (HELOC). If you want to access the equity in your home, you must apply for a cash refinance loan.

Lack of transparency

Churchill does not disclose its rates, fees, or specific qualifying criteria. There are application fees, but Churchill does not say how much they are or whether they are repayable when you close your loan. Likewise, the original fees are unknown until you apply.


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