Axos Bank is a San Diego–based direct lender with an online-first mortgage experience. Its digital platform lets borrowers apply and manage their loan entirely online, often speeding up the process compared to traditional banks. Axos offers conventional, jumbo, and investment property loans, typically with rates around 0.08% below the market and no origination fees—thanks in part to cutting out traditional banking overhead.
See today’s mortgage interest rates on TrueRate.
How Axos Bank compares to other mortgage lenders
| Headquarters | San Diego |
| Website | axosbank.com |
| Rate | 0.08% lower than the median interest rate |
| Lender fees | $995 (median on Axos Bank loans) |
| Savings after 1 year, compared to the median interest rate | $620 |
| Savings after 10 years, compared to the median interest rate | $2,857 |
| Added cost after 1 year, compared to Tomo Mortgage | $1,958 |
| Added cost after 10 years, compared to Tomo Mortgage | $8,327 |
For a $400,000 mortgage, Axos Bank’s just below-market rates and $995 lender fee can translate into light savings of about $1,000 in the first year and over $2,800 after 10 years. While borrowers might save a thousand or two with Axos, comparing loan options with lenders like Tomo Mortgage could unlock triple the savings.
What customers are saying
Customer reviews of Axos Bank’s mortgage services reveal a mix of positive and negative experiences. On the positive side, borrowers often commend the bank for its competitive interest rates, efficient loan processing, and helpful loan officers. Customers have highlighted smooth refinancing experiences, quick closings, and personalized guidance from staff who were praised for their professionalism and responsiveness. Many borrowers also appreciated Axos Bank’s streamlined processes and smart technology tools that made document submission and communication easier.
However, negative feedback points to recurring issues with payment processing errors and poor customer service. Some borrowers reported payments being misapplied to principal-only accounts multiple times, leading to frustration and delays in resolution. Others criticized the bank for inconsistent communication, unhelpful responses to disputes, and rigid policies that caused financial strain. Complaints about customer service lapses and difficulties in resolving issues were frequent across platforms like Yelp and the Better Business Bureau (BBB).
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.