What borrowers say about Watermark Home Loans

NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from Zillow.

  • Watermark Home Loans receives a 4.84, as of the date of publication, according to customer reviews on Zillow. Scores are out of 5 and reflect more than 1,640 customer reviews.

Watermark Home Loans variety of loan types

  • 5 of 5 stars

At Watermark, you'll find purchase, refinance, conventional and jumbo loans plus FHA loans, USDA loans and VA loans. The lender also offers nonqualified mortgage loans, also called non-QM loans, for borrowers who are self-employed and might not show large incomes on their tax returns.

Watermark Home Loans ease of application

  • 5 of 5 stars

Watermark allows borrowers to apply for loans online as well as upload documents, track the loan process digitally and sign documents electronically. The "Apply Now" button on the website leads to a couple of questions about borrower intent and then offers a toll-free number for a loan officer. Or you can select "Continue" for the full online application.

Watermark Home Loans rates and fees

  • 4 of 5 stars

  • Watermark Home Loans earns 3 of 5 stars for average origination fee.

  • Watermark Home Loans earns 5 of 5 stars for average mortgage interest rates. 

Borrowers should consider the balance between lender fees and mortgage rates. Though it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

Watermark Home Loans rate transparency

  • 1 of 5 stars

Watermark publishes a sample of national average mortgage interest rates on its website, but you will need to contact the lender for its rates. 

Alternatives to Watermark Home Loans 

Here are some comparable lenders we review that borrowers can consider. 

Rocket Mortgage also offers traditional and cash-out options for homeowners looking to refinance, and Carrington is another top pick for USDA loans.