Watermark Mortgage Review | Ascension


Best benefits

Large selection of mortgage products

Watermark is a flexible lender offering a very wide variety of home loans to meet the needs of most residential real estate borrowers.

To this end, Watermark Mortgage offers conventional loans, FHA loans, VA loans, and jumbo loans, as well as the harder to find USDA loan. Here are some of the other options you can find on Watermark:

  • Loan on bank statement: for independent borrowers who want to use cash flow instead of tax returns to qualify
  • Piggyback loan: to help you make a bigger down payment and avoid mortgage insurance

Flexible subscription

Watermark Mortgage offers several ways to get a home with a low down payment, lower credit score, or higher DTI.

If you qualify for a VA loan or a USDA loan, your down payment may be zero. Otherwise, you can get one of two conventional 97 mortgage options with a 3% down payment. Some conventional 97 loans are intended for first-time home buyers and others for borrowers who meet the income criteria. You can also look for an FHA loan, which requires a down payment of 3.5%.

All of these loans come with flexible credit score and debt-to-income ratio guidelines.

Very low rates

Watermark Mortgage offers very competitive mortgage interest rates. When we checked, the rate was lower than the national average.

Borrowers who expect to own a home for a long time can lower the rate even further by paying an origination fee. If you prefer to reduce your repayable costs, the Watermark mortgage offers a loan with no closing costs.

Fully remote closing

For loans that allow it (and where it’s legal), Watermark can provide a fully digital experience, up to and including your loan closing. You can apply, provide documents, track your loan, and close from any location.

What could be improved

Difficult to find information

Watermark does not provide information about its rates or mortgage products online. You need to speak to a loan officer to get these details. If you are sensitive to sharing your contact information, this could be a hindrance.

Not nationwide

The Watermark mortgage is not available everywhere. According to its website, Watermark is a licensed mortgage lender in the following states:


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