Total Mortgage has been anything but a total package for borrowers looking for competitive home loans. Over the past two years, its mortgage rates have consistently been significantly higher than other lenders, placing it in the bottom 30th percentile of mortgage providers in the U.S. Borrowers have expressed concerns over misleading advertising and last-minute loan adjustments that drive up costs, making Total Mortgage a lender to approach with caution.
See today’s mortgage interest rates on TrueRate.
How Total Mortgage compares to other lenders
| Headquarters | Milford, Connecticut |
| Website | totalmortgage.com |
| Rate | 0.32% higher than the median rate |
| Lender fees | $1,690 (median on Total Mortgage loans) |
| Added cost after 1 year, compared to the median interest rate | $677 |
| Added cost after 10 years, compared to the median interest rate | $10,116 |
| Added cost after 1 year (vs. Tomo Mortgage) | $3,255 |
| Added cost 10 years (vs. Tomo Mortgage) | $21,300 |
For a $400,000 mortgage, Total Mortgage’s rates—about 0.32% higher than the market median—and $1,690 in lender fees would result in borrowers paying approximately $677 more in the first year and about $10,100 more over 10 years compared to the median lender.
The gap is even greater when compared to ultra-low-cost lenders like Tomo Mortgage, with a potential difference of more than $21,000 over the life of the loan.
What customers are saying
Borrowers praised Total Mortgage for offering competitive rates and an efficient loan process. Loan officers were commended for their responsiveness, professionalism, and ability to clearly explain mortgage options, including programs for first-time homebuyers. Customers also appreciated the convenience of the online portal, which streamlined document uploads and application management.
Complaints often focused on poor communication and operational inefficiencies. Borrowers reported closing delays, repeated document requests, and inconsistent updates on loan status. Some customers experienced issues with loan servicing after their mortgages were transferred, including payment processing problems and unresponsive customer support. Others cited frustration over unexpected loan denials after already paying for appraisals and inspections.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.