Founded in 2017, Nexa Mortgage is a full-service mortgage broker based in Chandler, Arizona, that offers home purchase loans, refinance rates and easy rate comparisons. It offers primary residences, investment properties and commercial real estate financing. Nexa Mortgage operates in 48 states.
Whether you’re considering a first-time home purchase or a refinance, Nexa Mortgage offers solutions. It aims to offer exceptional customer service while serving clients with honesty, integrity and competence.
“As a broker, Nexa has access to tons of lenders, which means they can often beat out direct lenders on rates and flexibility,” says real estate investor Sergio Aguinaga, owner and founder of Michigan Houses for Cash. “The con: Their model gives loan officers a lot of freedom, which is great when they know what they’re doing, but not so great when they don’t.”
- Diverse home loan solutions
- Fast closing
- Free instant quotes
- Excellent online tools
- Some customers complain of aggressive agents
- Not available in all states
- Nexa Mortgage Loan Options
- Customer Service
- Rates and Fees
- See All 11 Items
Nexa Mortgage is a broker that works with lenders to offer more competitive rates for prospective homeowners.
Nexa Mortgage stands out for fast funding on home purchase loans, refinancing or cash-out refinance. Its website is simple to use and intuitive, allowing you to apply for a pre-qualification letter, perform a refinance analysis or compare the best mortgage rates on the market.
In our Nexa Mortgage review, we’ll take a closer look at the company’s loan offerings, how they compare to the competition and who should consider Nexa for their next mortgage. We’ll also hear what an expert real estate investor thinks about the company’s offerings and if he’d recommend them.
Nexa Mortgage Loan Options
Nexa Mortgage offers the following mortgage types:
- Fixed-rate mortgages
- Adjustable-rate mortgages
- Jumbo loans
- FHA loans
- VA loans
- USDA loans
- Refinancing products
Customer Service
Nexa performs exceptionally well in customer satisfaction. It has 4.96 out of 5 stars on Zillow, with 726 reviews and a 4.3 out of five stars on Birdeye, with 279 or 339 reviewers leaving five-star reviews.
Nexa received a Better Business Bureau rating of A+, although it's not accredited by the BBB and one dissatisfied customer left a one-star rating there. Nexa Mortgage complaints center around aggressive sales agents and customers who want more branch offices.
You can reach Nexa Mortgage at (602) 344-9333. Nexa offers corporate support for everything from accounting and payroll to licensing and compliance from Monday to Friday, from 8 a.m. to 5 p.m. Arizona time.
You can reach a loan support officer from 6 a.m. to 6 p.m. Monday to Friday and Saturdays from 8:30 a.m. to 12:30 p.m. You can also get a free customized quote online.
Rates and Fees
Nexa Mortgage allows you to get a free online quote in minutes. To see individual interest rates, you’ll need to go through the pre-qualification application process and provide contact information and other personal information.
Credit Score Requirements
You’ll need a minimum credit score of 580 for a conventional loan at Nexa Mortgage, which is lower than the industry average of 620.
Who is a Nexa Mortgage Best For
Nexa Mortgage is perfect for those who prefer an online mortgage lender. You can easily compare rates and quotes on their website and if you’re ready to apply for a home loan you can easily fill one out without going to a physical branch.
How to Apply for a Mortgage From Nexa
To apply for a mortgage through Nexa, you’ll simply go to their website and click “Apply Now.” You’ll then be walked through the virtual process by a licensed real estate professional. Before clicking the apply button, have the following documents handy:
- Proof of income (pay stubs, tax returns)
- Employment details
- Financial statements (bank accounts, investments)
- Identification (Social Security number, ID)
Nexa Mortgage vs loanDepot
Like Nexa Mortgage, loanDepot is an online mortgage lender that offers a wide range of financial products. Both companies also have largely positive customer reviews on TrustPilot and Reddit.
One thing Nexa does that loanDepot doesn’t is provide rates upfront. With the latter, you’ll need to start an application process before you’re told the rate you could be paying. On the other hand, loanDepot is licensed in all 50 states and Nexa is not (it only operates in 48 states).
The Bottom Line
Nexa Mortgage offers competitive rates and instant online quotes. With thousands of satisfied customers and strong financial performance, its profile ranks near the top of mortgage lenders nationwide. With the option for low credit score loan qualifications, Nexa also offers conventional mortgages to more borrowers.
Why You Should Trust Us
Benzinga has offered investment and mortgage advice to more than one million people. Our experts include financial professionals and homeowners, such as Anthony O’Reilly, the writer of this piece. Anthony is a former journalist who’s won awards for his coverage of the New York City economy. He’s navigated tricky real estate markets in New York, Northern Virginia and North Carolina.
For this story, we worked with real estate investor Sergio Aguinaga, founder and owner of Michigan Houses for Cash.
Frequently Asked Questions
What is the BBB rating for NEXA Mortgage?
Nexa Mortgage has an A+ rating with the Better Business Bureau, however, it’s not a BBB-accredited business.
Is NEXA Mortgage a direct lender?
No, Nexa Mortgage is not a direct lender. Instead, they act as a mortgage broker that works with various lenders to offer more competitive rates and flexibility for customers.
Who owns NEXA Mortgage?
Nexa Mortgage is owned by Mike Kortas, the company’s CEO and co-founder.
Sources
- Sergio Aguinaga, founder and owner of Michigan Houses for Cash
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About Anthony O'Reilly
Anthony O’Reilly is an updates editor for Benzinga. He’s won numerous journalism awards for his coverage of the New York City economy and Long Island school district budgets.
