AimLoan Mortgage Review 2023: Easy Online Access to View Fees and Lock Rates, But Few Loan Types

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Best in Transparent Pricing
AimLoan Mortgage Review 2022
AimLoan Mortgage Review 2022
Best in Transparent Pricing
AimLoan Mortgage Review 2022
  • Minimum Credit Score:
    620 for conventional loans; 720 for jumbo loans
  • Minimum Down Payment:
  • Can Apply Online:
  • Operates In:
    All 50 States

NextAdvisor’s Take

  • Originates mortgages in all 50 states
  • No personal information needs to be provided to view rates and fees online
  • Customers have the ability to lock in a rate online
  • Lender offers a guarantee that certain fees will not increase
  • Loans are typically completed in a short time frame (30 and 45-day rate locks are offered)
  • Only offers conventional and jumbo products — no government-backed loans
  • Very few branch locations
  • No low down payment loan options (minimum 5% for conforming loans)
The Bottom Line

AimLoan Mortgage does not offer any niche products like home equity loans, reverse mortgages, new construction loans, or any government-backed loans like VAFHA, or USDA loans. However, customers looking for conventional loans or jumbo loans and also do not mind the online process may appreciate the transparency of and ease of use of its website.

Customers can obtain an accurate rate quote online that includes lender and third-party fees without providing any personal information. AimLoan also allows eligible customers to lock in a rate online 24/7 after submitting an application. It then guarantees not only its own lender fees, but also certain third-party fees.


As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.

AimLoan Mortgage Full Review

AimLoan Mortgage was founded in 1998 as an internet direct lender. Since then, it has funded over $23 billion in mortgage loans to over 90,000 homeowners nationwide. AimLoan Mortgage originates loans in all 50 states and currently only offers conventional and jumbo loans. While the company does have several office locations, customers should expect to complete most of the loan process online.  

The lender states on its website it does not use mortgage brokers or commissioned loan officers. By eliminating these costs from the lending process, it claims it can pass on the savings to its customers in the form of lower rates and fees. Customers are allowed to complete a number of activities online, such as view fees, rates, complete an application, and even lock an interest rate. AimLoan Mortgage provides a high level of transparency on rates and fees, going so far as to guarantee certain closing costs shown to customers at the time of application.  

AimLoan Mortgage: Loan Types and Products

AimLoan Mortgage offers conventional and jumbo loans for customers looking to purchase or refinance a home. Fixed-rate and adjustable-rate mortgages are both available, but the rates for adjustable programs are not displayed on its website as they are currently higher than its fixed-rate products. AimLoan does not offer government-backed loans such as FHA, VA, or USDA loans. 

Here is a list of the programs offered by AimLoan Mortgage:

Conventional loans are loans that do not exceed the conforming loan limits. Loan limits vary by county and are set by the Federal Housing Finance Agency. Customers looking for loans that exceed the conforming loan limits will have to consider the lender’s jumbo fixed-rate loan products, which typically have higher rates and fees. 

AimLoan Mortgage Transparency

AimLoan Mortgage allows customers to obtain rate quotes online 24/7. No personal information needs to be provided, and the quotes include interest rates, discount points, fees, and third-party costs. Rate quotes can be obtained quickly and are also updated daily so customers can compare interest rates against other lenders. The lender also has an informational section on its website addressing basic mortgage terminology and what the process entails, but those who have questions can also call or email a loan officer. 

Customers who choose to move forward can submit an online application. Once an application is submitted, AimLoan Mortgage’s system can issue disclosures and conduct an automated underwriting review of the loan. Disclosures include a guarantee of total closing costs, including third-party service providers. If deemed eligible by the automated underwriting review system, customers will be given the option to lock an interest rate. Rates can be locked for either 30 or 45 days.  

The lender’s stand-out feature is its flat-rate lender fee and guarantee of total closing costs

AimLoan Mortgage: Rates and Fees 

AimLoan advertises rates for its fixed-rate conforming and jumbo programs. Adjustable-rate programs are also offered, but rates are not shown online since they are currently higher than its fixed-rate loans. To obtain a Loan Estimate, customers must submit a loan application. We spoke with a loan officer who informed us that as long as the lender verifies the same information as what was provided in the online rate quote, Loan Estimates will typically show the same rate and fee information.

AimLoan Mortgage charges a flat lender fee for all of its loans. Other fees may vary based on a customer’s loan scenario, but may include:

  • Appraisal fee
  • Credit report fee
  • Flood certification fee
  • Tax service fee
  • e-Record fee
  • Recording processing fee
  • Lender’s title insurance
  • Settlement fee

A loan officer we spoke with informed us that conventional loans require a minimum credit score of 620, while jumbo loans require a 720. Customers interested in paying off their mortgage early can also do so as the lender does not charge any prepayment penalty fees. 

Refinancing With AimLoan Mortgage

AimLoan provides a brief overview of the loan process on its website. Customers will need to submit a loan application, which is then run through an automated underwriting system. If eligible, customers will be given the option to lock in a rate. Otherwise, a loan officer will reach out to the customer to discuss options and request any required documentation. Once the lender’s underwriting department reviews and approves all items for the loan, customers will review a closing disclosure, after which they will coordinate with a notary to sign final loan documents. 

Rate locks are offered in 30 and 45-day increments so you could benefit from the fast closing process. One of the benefits of refinancing with AimLoan Mortgage is the lender guarantees certain closing costs. This guarantee is a stand-out feature when compared to other lenders. Most only adhere to what is required on the Loan Estimate (LE). AimLoan charges a flat lender fee and guarantees that certain third-party fees will not be more than what is shown on the LE. These guaranteed fees can include appraisal, credit report, flood cert, tax service, settlement agent, lender’s title insurance, and government and recording fees. 

AimLoan Mortgage Compared to Other Mortgage Lenders 

AimLoan MortgageRocket MortgageloanDepot
Minimum credit score620 for conventional loans; 720 for jumbo loans580 to 620620 for conventional loans; 700 for jumbo loans; 580 for FHA loans; 620 for VA loans
Minimum down payment5%0% to 3.5%0% to 5%
Where does the lender operate?All 50 statesAll 50 statesAll 50 states
Major loan typesPurchase, refinance, cash-out refinance, conventional, jumbo, fixed-rate, adjustable-rateConventional, jumbo, VA, and FHA Conventional, jumbo, VA, FHA, FHA 203(k), renovation, adjustable-rate, fixed-rate, refinance, cash-out refinance

How to Shop Around to Get the Best Mortgage Rate

When comparing which lender is offering the best rate, it’s important to review the fees that are being charged. Lower interest rates may come with a higher upfront cost in the form of discount points or higher lender and third-party fees. Interest rates can also change on a daily basis, so it’s best to compare rates obtained from lenders on the same day. 

For the most accurate information, you can obtain a Loan Estimate (LE) from each lender you are considering. The LE will list all fees associated with the loan and are not allowed to increase more than a certain amount. It’s also important to make sure that the LE is based on the same loan scenario, as fees can vary depending on the property type, loan amount, credit score, down payment, and property location. 

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As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.