MLB Mortgage has struggled to keep up with industry standards, consistently offering mortgage rates well above the market average. Over the past two years, its higher-than-normal rates have placed it in the bottom 30th percentile of lenders in the U.S. Many borrowers have expressed frustration over misleading rate quotes and a lack of transparency in loan terms, making it clear that MLB Mortgage prioritizes profit over customer satisfaction.
See today’s mortgage interest rates on TrueRate.
How MLB Mortgage compares to other lenders
| Headquarters | Springfield, New Jersey |
| Website | mlbmortgage.com |
| Rate | 0.65% higher than the median rate |
| Lender fees | $1,890 (MLB Mortgage loan median) |
| Added cost after 1 year, compared to the median interest rate | $1,738 |
| Added cost after 10 years, compared to the median interest rate | $20,723 |
| Added cost after 1 year (vs. Tomo Mortgage) | $4,316 |
| Added cost after 10 years (vs. Tomo Mortgage) | $31,907 |
For a $400,000 mortgage, MLB Mortgage’s rates—about 0.65% higher than the market median—and $1,890 in lender fees would result in borrowers paying approximately $1,738 more in the first year and over $20,700 more over 10 years compared to a typical lender. When stacked against low-cost options like Tomo Mortgage, the difference climbs to more than $31,000 over the life of the loan. With that kind of gap, rate shopping isn’t just smart—it’s essential. Always compare multiple offers to make sure you’re not overpaying for your mortgage.
What customers are saying
Borrowers frequently praise MLB Residential Lending for strong customer service. Loan officers are commended for their professionalism, responsiveness, and ability to guide clients through the mortgage process. Many reviewers noted smooth closings, even under tight deadlines.
First-time homebuyers often highlighted the company’s patience and clear explanations, which helped them feel confident navigating the mortgage process. Customers also appreciated programs like FASTTRAK, which enabled quicker approvals and a competitive edge in a fast-moving housing market.
Some borrowers did report occasional communication delays during servicing transitions or challenges with reaching representatives for updates. A few reviews also mentioned documentation errors or last-minute changes to loan terms.
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.