Wed. Apr 21st, 2021

Exos Bank, founded in 2000, is a San Diego-based digital financial services company. The full-service online bank is insured by the Federal Deposit Insurance Corp. and offers everything from personal and business savings and checking accounts to auto and home loans.

The minimum credit score for Exos Bank’s mortgage is 620, requiring a government-backed Federal Housing Administration loan of 680 or more. Borrowers with an Exos bank checking account can reduce or eliminate lender fees and earn cash back using the account to make monthly mortgage payments.

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  • Earn 3% annual cash back – 0.25% monthly – if you have an Exos Bank checking account and use it to pay off your mortgage.
  • Reduce or eliminate the $ 995 lender fee with the Exos Bank checking account.
  • Timely completion is guaranteed for buyers of single-family homes.
  • Reach mortgage loan advisors to discuss your home financing needs.


  • Due to Exos Bank being online only, borrowers who need support will have to reach them by phone
  • If you open an Exos Bank checking account, loan fee waiver and cash back rewards are available only.

What mortgage loan does Exos Bank offer?

  • Home Purchase Loan.
  • Home equity loans and lines of credit.
  • Cash-out refinance.
  • Conventional Refinancing

Origin of Exos Bank Traditional And non-performing loans, Veterans Affairs and the FHA Department of Low- and no-down-payment options, interest-only mortgages, and investment property loans. Exos Bank’s special loans also help foreign nationals gain home ownership.

Loans can be used for many property types, from single-family homes to multistory condo complexes.

Alternatively, borrowers can make home improvements or pay off the loan with Exos Bank Home equity loan or line of credit, Or use cash-out refinancing to pay medical bills or education expenses. Exos Bank also offers Refinance option To match goals such as lowering your monthly payment, removing mortgage insurance, switching to a fixed rate, or paying off your mortgage faster.

How do Exos Bank Mortgages Work?

You will start the mortgage application process online by answering a series of basic questions about the type of mortgage and then receive a free quote. When you submit the initial mortgage application digitally, an Exos Bank loan advisor will contact you.

You can upload all the required documents, such as bank statement, W-2 and payment stubs in your online application. Checking the status of your loan application and tracking its progress can also be completed online.

Exos Bank usually closes the mortgage within 30 days. But if you pre approved And pre-determined, Exos Bank may be able to close soon.

What are the mortgage terms, fees and conditions of Exos Bank?

The longest mortgage loan of Exos Bank is 30 years, and the shortest term is 10 years. Are available with the best interest rate 15- and 30-year terms. Interest rates can be fixed or adjusted.

Borrowers can save up to $ 995 on fees and earn 3% cash annually by opening an Exos Bank checking account and using it to pay off the mortgage.

At closing, borrowers are responsible for costs such as discount points, loan origination and appraisal fees, surveys and titles, and homeowners insurance. closing costs Exos banks can add 8% of the purchase price of a home, according to the lender on the mortgage.

If you have three or more consecutive payments returned, Exos Bank will cancel the automatic payment on your account. (You can ensure that your account information is up-to-date.) Exos Bank discloses late fees and penalties in its mortgage agreement.

What does Exos Bank give discounts?

Exos Bank offers mortgage discounts for borrowers who open an Exos Bank checking account. Save $ 995 on lender fees for mortgages of at least $ 250,000 and $ 200 on fees for mortgages under $ 250,000.

An Exos bank checking account also earns 3% cash annually – 0.25% monthly – when you pay your mortgage with it. Credit is based on principal and interest payments and does not include escrow, and borrowers cannot earn more than $ 100 in cash monthly.

Eligibility: How can you qualify for Exos Bank Mortgage?

Exos Bank offers online prequalification and preapproval. Loan amounts range from $ 15,000 to $ 510,000 with some exceptions.

Of lender Jumbo loan There is neither a loan limit nor a loan minimum.

What credit score do you need for an Exos bank mortgage?

The minimum credit score to qualify for most Exos Bank mortgages is 620, which comes in FICO. Reasonable limit.

Government-backed FHA and VA loans are required “Good” FICO Credit Score In 680. However, Exos Bank not only considers the credit history, but also reduces the payment amount and savings.

Where does Exos Bank operate?

Exos Bank operates nationwide.

Is Exos Bank Reputable?

Exos Bank has an A + rating with the Better Business Bureau, and the TrustPilot score is Exos Bank 2.6 out of 5 stars, mostly with complaints related to customer service.

The Consumer Financial Protection Bureau received 25 mortgage-related complaints about Exos Financial, the holding company for Exos Bank, in 2020. About half were related to trouble during the payment process. Each complaint received a timely response and was closed with clarification.

How is Exos Bank customer service?

Exos Bank is an online bank, but supports borrowers with mortgage advisors at 888-546-2634 from 8 am to 5 pm. You can also request information by filling an online form, and a loan advisor will contact you.

When paying Exos Bank’s mortgage, you can choose automatic withdrawal from your Exos bank account, pay once online or mail a check. A virtual financial assistant called Evo, accessible through the Exos Bank app or online banking, can be used to manage your loan, including scheduling and making payments.

What are some of Exos Bank’s online features?

The entire mortgage application process is completed online with this digital bank, including rate quotes or prequalifications. Upload all documents and check the status of your loan application online. Close loans online, and payment can be made through the Exos Bank mobile app or website.

The lender requires a phone call after starting the loan application. You can contact customer service, and a mortgage advisor will walk you through this process.

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