SecurityNational Mortgage Company (SNMC) is a leading, full-service mortgage lender headquartered in Salt Lake City, Utah. Established in 1993 as the mortgage division of SecurityNational Financial Corporation (founded in 1965), SNMC has grown to become one of the largest retail mortgage lenders in the United States, operating over 100 professional office locations in 41 states. With significantly higher-than-market rates and fees, SNMC is one of the most expensive mortgage lenders a buyer could choose.
See today’s mortgage interest rates on TrueRate.
How SecurityNational Mortgage Company compares to other lenders
| Headquarters | Salt Lake City, Utah |
| Website | snmc.com |
| Rate | 0.34% higher than the median rate |
| Lender fees | $1,895 (median) |
| Added cost after 1 year, compared to the median interest rate | $738 |
| Added cost after 10 years, compared to the median interest rate | $10,731 |
| Added cost after 1 year (vs. Tomo Mortgage) | $3,317 |
| Added cost after 10 years (vs. Tomo Mortgage) | $21,196 |
For a $400,000 mortgage, SecurityNational Mortgage Company’s rates—about 0.34% higher than the market median—and $1,895 in lender fees would result in an added cost of around $738 in the first year and around $10,731 over 10 years compared to a typical lender, making SNMC one of the highest-cost lenders in the market.
What customers are saying
SecurityNational Mortgage Company receives predominantly negative reviews on BBB and Yelp, with borrowers frequently citing poor communication, especially after closing, resulting in missed or misdirected payments and credit score issues. Complaints also include predatory practices, such as filing mortgages without consent and providing contradictory or misleading information. Delays, paperwork errors, and unprofessional staff are common frustrations. Some borrowers and employees report positive experiences with individual loan officers and supportive teams, particularly during the initial loan process, but these are exceptions. Overall, the company’s inconsistent communication and post-closing service are significant drawbacks for many clients.
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.