Top Flite Financial Review: A Lender That Specializes in Cash Out Refis for Those With Less Than Perfect Credit

Today we’ll check out “Top Flite Financial,” a mortgage lender that constantly lands in LendingTree’s top-10 rankings for customer satisfaction.

In fact, they’ve earned that distinction in each of the past four quarters and beyond, a strong testament to their exceptional (and consistent) customer service.

The company began as a small mom and pop shop operating out of an 80-square foot home office, and is now a multi-million-dollar corporation with 60+ retail locations.

They consider themselves cash out refinance specialists, helping homeowners tap into their equity to pay off more expensive debt or cover other expenses.

And they’ve got solutions for those with less than perfect credit who are looking to improve their financial outlook. Read on to learn more.

Top Flite Financial Fast Facts

• Family-owned and operated direct-to-consumer mortgage lender
• Offers home purchase loans, refis, home equity loans, and more
• Founded in 2002, headquartered in Richmond Heights, MO
• Licensed to do business in 17 states nationwide
• Funded about $1 billion in home loans last year
• Most active in Arizona, California, and Washington
• Also operates a wholesale lending division for mortgage brokers

Top Flite Financial Inc. began as a family shop, launched by Timothy and Tracie Baise in December 2002.

Their home office in rural Michigan eventually transformed into a large corporate office in Richmond Heights, Missouri, a suburb of St. Louis.

Today, the company funds nearly $1 billion in home loans annually across the entire United States.

At the moment, they’re licensed in 17 states, including Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Massachusetts, Missouri, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, and Washington.

They are most active in the states of Arizona, California, and Washington, and roughly two-thirds of their loans are mortgage refinances.

The company also operates a wholesale lending division for mortgage broker partners.

How to Apply for a Mortgage with Top Flite Financial

To get started, you can call them directly or visit their website to learn more about the company.

If you go online, you can fill out a short form to get a free quote. A Top Flite Financial loan officer will then reach out to discuss loan options, eligibility, and pricing.

Assuming you’re happy with what you hear, you can fill out their digital mortgage application and upload supporting documentation, such as bank statements and tax returns.

Their tech platform is powered by SimpleNexus, a leader in the digital mortgage space.

You have the option to download their “Hole N1 Mortgage” smartphone app or complete your application from their secure online portal.

The app displays a checklist of items that need to be uploaded, which can be sent securely via your phone.

You will receive updates as you go, and can message your loan officer instantly if and when you have questions.

Those in the market to purchase a home can get pre-qualified for a mortgage in as little as 24 hours.

Loan Programs Offered by Top Flite Financial

• Home purchase loans
• Refinance loans: rate and term, cash out, streamline
• Conforming loans backed by Fannie/Freddie
• FHA loans
• VA loans
• USDA loans
• Jumbo and super jumbo loans up to $3.5 million
• Self-employed bank statement programs
• Non-QM loans
• Manufactured and modular home loans
• Home equity lines of credit (HELOCs)
• Reverse mortgages

If you’re looking for access to a wide selection of loan programs, you’ll like what Top Flite Financial has to offer.

They’ve got pretty much every home loan program under the sun, from government-backed mortgages (FHA/VA/USDA) to super jumbo loans and bank statement programs.

You can also get a combo loan with a home equity line of credit (HELOC) in place as a second mortgage to extend your financing.

Seniors on a fixed income can take advantage of a reverse mortgage as an alternative to a traditional home loan, which carries no monthly payments.

And those with less-than-perfect credit can get approved as well, even if they need a cash out refinance.

What sets them apart from other lenders is their “Step Forward Program,” which allows borrowers to get FHA and VA loans with credit scores as low as 500.

These borrowers can pull cash out or consolidate their debt to improve their financial position.

After 6-8 on-time payments, a loan officer will determine if better loan options are available.

Typically, credit scores improve after the initial refinance, which may allow for better terms.

If this is the case, they’ll offer a “no lender fee” refinance to help customers reduce their monthly mortgage payments going forward.

Top Flite Financial lends on all major property types, including manufactured and modular homes.

Loan terms ranging from 10 to 30 years are available. It’s unclear if they also offer adjustable-rate mortgages.

Top Flite Financial Mortgage Rates

Top Flite says they may not always have the lowest “advertised” mortgage rate, but that they pride themselves on delivering the terms advertised.

And that includes always being transparent with real numbers so each customer knows what they qualify for upfront.

That being said, they might offer very competitive mortgage rates depending on the loan scenario in question.

Additionally, they may have loan programs that the other guys don’t offer, which could be more important than price.

Still, given their excellent customer reviews across multiple ratings websites, my guess is they are priced fairly well relative to other mortgage companies.

Of course, you should still put in the time to shop with other lenders and gather additional quotes to ensure a better deal isn’t missed.

With regard to lender fees, that’s also a question mark, though my guess is they can structure their loans as no cost mortgages using lender credits.

Top Flite Financial Reviews

On LendingTree, Top Flite Financial has a near-perfect 4.9-star rating out of 5 from almost 2,000 customer reviews. And 98% of these customers would recommend the company to others.

Additionally, they have been in the top-10 for customer satisfaction in the home lending category on LendingTree for the past four quarters.

That achievement is based directly on customer ratings and reviews, which take into account interest rates, fees and closing costs, and overall experience.

Over at Google, they’ve got a perfect 5.0-rating from more than 600 customer reviews. And on Facebook, a 4.9 rating from over 300 reviews.

The company also has a 4.42/5 rating on the Better Business Bureau website from about 50 reviews, which is a good score for a more complaint-driven site.

Lastly, they are a BBB accredited company and have been since 2004. They currently hold an ‘A+’ rating based on complaint history.

To sum things up, Top Flite Financial’s wide selection of loan offerings sets them apart.  Especially the ones geared toward borrowers with low credit scores.

If you don’t have great credit, but still want cash out or a lower rate, they could be a good option.

They might even be a good choice for someone with excellent credit, as their customer reviews are stellar.

Top Flite Financial Pros and Cons

The Good Stuff

• Can apply for a home loan online or via smartphone
• They offer a digital, mostly paperless mortgage process
• Excellent customer reviews across all major ratings websites
• A top-10 LendingTree partner based on customer satisfaction
• Lots of loan programs to choose from including low FICO score options
• Free smartphone app to help submit and manage your loan

The Maybe Not

• Aren’t licensed in all states
• Do not list mortgage rates and lender fees online