RoundPoint Mortgage Review

Founded in 2007, RoundPoint is among the 25 largest mortgage sub-servicers in the nation. The bulk of the business conducted by RoundPoint is tied to servicing home loans as opposed to issuing them, yet it also offers mortgages for new purchases as well as refinance loans and home equity loans.

RoundPoint’s Charlotte, North Carolina, headquarters has an A+ rating from the Better Business Bureau, although it’s not accredited by that group. RoundPoint also has a four-star average rating from over 300 customer reviews submitted to the BBB and regularly responds to both positive and negative comments left on the organization’s website.

RoundPoint Overview

Founded in 2007, RoundPoint is a newer business that focuses far more on servicing mortgages than on issuing them directly. It’s not among HousingWire’s list of the top lenders dominating the mortgage market and does not appear on the Consumer Financial Protection Bureau’s list of total originations in 2018. 

However, it serves all 50 states and could bring the right mortgage offer to the table, depending on individual circumstances. Its established history as a servicer and strong Better Business Bureau ratings, from both the organization as well as its customers, are also positive marks.

Since the company limits the information available on its website, it’s imperative that interested homebuyers complete the application process or contact RoundPoint directly to learn more about their mortgage rates and products.

Current RoundPoint Mortgage Rates

RoundPoint Loan Specifics

RoundPoint keeps information about home loan and refinancing options gated behind an application workflow. However, it emphasizes certain aspects of the lender-homeowner relationship during the application and loan repayment processes. 

RoundPoint’s major differentiators, as noted on its webpage for home loans, include high-touch communication, quick turnaround times, and superior customer service. The company also offers real-time updates throughout the application process and a custom experience supported by mortgage specialists from start to finish.

Fixed-Rate Mortgage

A fixed-rate mortgage offers the stability of a single rate across the life of the loan. This is especially beneficial when interest rates are low and borrowers plan to live in or own the same home for an extended period of time. Fixed-rate mortgages might also be a good fit for those who expect to have a relatively stable income in years to come.

There’s no long-term uncertainty about the cost of fixed-rate mortgages, which makes them easy to budget for; only changes in insurance and property tax can impact monthly mortgage payments. Common fixed-rate mortgage lengths range from 10 to 30 years. Shorter mortgages require higher monthly payments but have lower overall costs due to lower interest accrual.

Longer mortgages offer lower monthly payments but cost more over the length of the agreement.

Adjustable-Rate Mortgage

Adjustable-rate mortgages often feature more favorable interest rates. They also offer fixed rates during the first several years of the loan, then adjust according to the current market. Adjustable-rate mortgages are better suited to those who plan on moving within 5-10 years, expect their income to grow significantly over time, or anticipate paying off their home loan in 10 years or less.

The changing nature of this loan’s monthly payment makes it more difficult to budget for in the long term, yet it could yield excellent benefits if interest rates drop. Similarly, if market rates increased, so would monthly payments for borrowers of these types of products.

Jumbo Loans

Jumbo loans exceed the borrowing limit for conforming loans as established by the Federal Housing Finance Agency (FHFA). That cap is currently set at $726,200, outside of high-cost areas where the upper value of the loan is higher to account for increased real estate prices.

To qualify for a jumbo loan, prospective borrowers must have strong credit and assets that can be used as collateral. Jumbo loans can have either fixed or adjustable rates, making them flexible products for qualifying borrowers.

FHA Loan

FHA loans are backed by the Federal Housing Administration and are ideal for first-time homebuyers. These loans offer a number of benefits to help those who meet the agency’s requirements, like down payments as low as 3.5 percent and lower closing costs.

VA Loan

VA loans are backed by the Department of Veterans Affairs and offer homeownership support for active-duty service members, veterans, and qualifying spouses.

Although qualification requirements substantially limit the pool of borrowers who may apply for these loans, those who do meet the criteria set by the agency can benefit from lower down payment requirements, reduced interest rates, and additional financial support in certain circumstances.

Cash-Out Refinance Loans

Cash-out refinance loans allow those who already own a home and have established equity to replace their existing mortgage with a new one above the total value of the home. Homeowners can use the difference between the old loan and the new one for whatever purpose they choose, be it home improvements or other financial responsibilities.

Since cash-out refinance loans use the borrower’s home as collateral, foreclosure is a possibility responsible homeowners should consider.

USDA loan

A U.S. Department of Agriculture loan helps low- and moderate-income families wishing to purchase a home in a qualifying rural area. The advantages of these types of loans include low or zero down payments, low interest rates, and flexible credit guidelines.

USDA loans are applicable to homes in areas that wouldn’t necessarily be considered rural, so be sure to check if the home you’re interested in purchasing qualifies for a USDA loan.

Mortgage Loan Overview

Loan Type	Key Features	Suitable for	Advantages
Fixed-Rate Mortgage	• Stable Interest Rate • Long-Term Ownership • Predictable Payments • Terms: 10-30 Years	• Borrowers Planning Long-Term Homeownership • Stable Income	• Predictable Payments Over the Loan Term
Adjustable-Rate Mortgage	• Favorable Initial Rates • Short-Term Ownership • Potential Income Growth • Variable Payments	• Those Planning to Move In 5-10 Years • Expecting Income Growth • Rate Flexibility	• Potential for Lower Initial Rates but Variable Payments
Jumbo Loans	• Exceed Fhfa Limits • Strong Credit and Collateral • Fixed or Adjustable Rates	• Borrowers Needing Larger Loans • Strong Credit and Collateral	• Flexibility for Larger Loan Amounts With Rate Options
FHA Loan	• Backed by Fha • Low 3.5% Down Payment • Lower Closing Costs • First-Time Homebuyers	• Eligible First-Time Homebuyers Meeting Criteria	• Lower Down Payments and Reduced Costs.
VA Loan	• Backed by VA • Lower Down Payments, Rates, and Financial Support • Eligible Service Members	• Active-Duty Service Members, Veterans, and Qualifying Spouses	• Reduced Down Payments, Rates, and Added Support
Cash-Out Refinance Loans	• Access Cash Using Home Equity • Collateral Risk • For Existing Homeowners	• Homeowners With Equity Seeking Financial Flexibility	• Leverage Home Equity for Various Financial Needs
USDA Loan	• Low Income Families in Rural Areas • Low/Zero Down Payments – Low Rates • Flexible Credit	• Low/Moderate-Income Families in Rural Areas • Check Eligibility	• Low/Zero Down Payments, Low Rates, Flexible Credit

RoundPoint Customer Service

Although RoundPoint keeps much of its specific mortgage information gated behind the online application process, it offers a number of valuable resources for prospective homebuyers. The company offers a payment and amortization calculator, a rent vs. own calculator, and a debt consolidation calculator for public use. It also promises a high degree of support and information for those in any stage of the loan approval process.

In part due to its primary role as a mortgage sub-servicer, RoundPoint does not appear on the J.D. Power Primary Mortgage Originator rankings, in 2023 there was an average of 119 Customer Reviews in the Better Business Bureau.

RoundPoint does not publicly list an average time to close on its home loans, but Keeping Ellie Mae’s 41-day national average to close in mind will help you as you learn more about the averages offered by individual providers.

RoundPoint Lender Reputation

RoundPoint is primarily a mortgage servicer which also offers home loans and refinancing. It is based in Charlotte, North Carolina, but has established plans to move to South Carolina in 2019. It was founded in 2007 and its unique Nationwide Mortgage Licensing System ID number is 49636. Neither the CFPB nor the NMLS has taken any recorded actions against RoundPoint. 

RoundPoint’s headquarters has a Better Business Bureau rating of A+, although it isn’t accredited by the organization. It has 119 customer reviews and a one-point sixty-one rating on the BBB’s website. A strong majority of the complaints against the company are related to its mortgage servicing operations, as opposed to the mortgages it issues.

RoundPoint Mortgage Qualifications

While RoundPoint doesn’t publicize its mortgage qualifications prior to the start of the application process, a general understanding of credit scores can help you better anticipate what to expect from this lender. Generally, higher credit scores are associated with more beneficial rates and terms, while lower scores can lead to less favorable terms.

Remember that many other factors, from the type of loan and loan amount you request to your employment history, also influence loan terms.

Credit Score	Category	Likelihood of Approval
760 or higher	Excellent	Very likely
700-759	Good	Likely
621-699	Fair	Somewhat likely
0-620	Poor	Somewhat unlikely
None	N/A	Unlikely

RoundPoint Phone Number and Additional Details

Homepage URL: https://www.rpmservicing.com/
Company Phone: (855) 801-5831
Headquarters address: 5016 Parkway Plaza Blvd., Bldg. 6 & 8, Charlotte, NC 28217

How We Review Mortgage Lenders: 

Good Financial Cents evaluates U.S. mortgage lenders with a focus on loan offerings, customer service, and overall trustworthiness. We strive to provide a balanced and detailed perspective for potential borrowers. We prioritize editorial transparency in all our reviews.

By obtaining data directly from lenders and carefully reviewing loan terms and conditions, we ensure a comprehensive assessment. Our research, combined with real-world feedback, shapes our evaluation process. Lenders are then rated on various factors, culminating in a star rating from one to five.

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