For Businesses
Write a Review
  3. Finance
  4. Mortgages
  5. Best Mortgage Lenders
Are you this business?

Provident Funding Associates Reviews

1.4
200 reviews
Compare Alternatives Write a review
Are you this business?
4,895,222reviews on ConsumerAffairs are verified
  • We require contact information to ensure our reviewers are real.
  • Our moderators read all reviews to verify quality and helpfulness.
  • We use intelligent software that helps us maintain the integrity of reviews.
Author picture
By: Taylor Sansano
+1 more
Author picture
Edited by: Sally Jones

About Provident Funding Associates

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Provident Funding Associates (NMLS #3821) is a direct mortgage lender and servicer founded in 1992. The company publishes daily rates and discloses its fees on its website. You can apply for a purchase or refinance loan and manage your application, upload documents and make payments online. Provident Funding Associates serves customers in 25 U.S. states.

Pros
  • Transparent rates and fees
  • Rate lock up to 60 days for purchase loan
  • Completely online loan management
Cons
  • No FHA, VA or USDA loans
  • Not available in all states

Helpful Reviews

Pasadena, CA
Verified purchase
I'm sorry to read about the negative experiences that others have had. I've always had great experience w Provident. On two occasions I accidentally paid $2 less that what I owed,...

Read more

Washington, DC
Verified purchase
They purchase loans because nobody in their right mind would select this servicer voluntarily. No phone calls until their fees accrue. Takes them the better of 30 of the 60 days t...

Read more

Rates

Provident Funding publishes real-time rates online. Clicking “View Rates” on its website shows you today’s interest rates and annual percentage rates (APRs) on 15- and 30-year fixed-rate loans (with specified points).

If you click on “Customize My Rate,” you can see a more precise rate for your situation. Choose purchase or refinance loan, and enter the requested information. For a purchase loan, you put in the purchase price, down payment, ZIP code, property type, loan program and your credit score. There are eight different loan program selections.

Provident Funding has both fixed-rate and adjustable-rate mortgages (ARMs). Its ARMs have an initial rate for the first five or seven years that’s lower than the rate on a fixed-rate loan; the rate then adjusts every six months. An ARM could be a good choice if you plan on short-term homeownership.

According to data provided under the Home Mortgage Disclosure Act, Provident Funding’s average home purchase rate from 2019 to 2021 has consistently been lower than the national average.

Provident Funding Associates average home purchase rate vs. national average

Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

Provident Funding Associates divides its loan process into seven steps. You can start by signing up for an account online or calling the company to speak with a representative.

Whether you start online or call, Provident Funding assigns your application to a mortgage consultant, who reviews your application, answers your questions and sets your application in motion through an automated underwriting process.

Once you are approved through underwriting (and have an accepted offer from a seller, if applicable), you can then lock in your interest rate. Provident Funding Associates' rate locks last from 21 to 60 days.

Next, you pay a property appraisal deposit ($600 or $850, depending on loan type). Then Provident Funding starts processing the loan application. The mortgage consultant lets you know what financial documentation is needed for the application to go through underwriting.

It takes about 30 days from your rate lock to the time your loan is funded with Provident Funding.

A ConsumerAffairs reviewer from Glendale, Arizona, had this to say about their experience with Provident Funding Associates:

"I refi'ed last year. ... There are lots of choices with points or credits, depending on your individual needs. I found the process to be easy and smooth, and got a good rate with enough credits to nearly pay for the real costs of the refinance."

Provident Funding Associates application features

Loan types

Provident Funding Associates offers conventional loans and jumbo loans for purchasing and refinancing. These include both fixed-rate loans with terms ranging from 10 to 30 years and ARMs with five- and seven-year initial fixed-rate periods. Provident Funding doesn’t offer FHA, VA or USDA loans.

In 2021, there were 9,455 applications for home purchase loans from Provident Funding. The company closed on 4,167, or about 44%. It denied about 11% of home purchase loan applications.

Loan applications for home purchases only by year

Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

Provident Funding refinances existing home loans so customers can change their rate or term, or get cash out of their equity. In 2020 and 2021, a period when rates reached record lows, refinance loans made up over 85% of Provident Funding’s loans.

Home purchase vs. refinance loans by year

Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

Requirements

To apply for a loan from Provident Funding Associates, you need income documentation (pay stubs, W-2 forms, tax returns), asset documentation (bank statements) and a homeowners insurance policy. The mortgage consultant you’re working with will let you know what other items the lender needs.

Provident Funding Associates evaluates your income, assets, debts, debt-to-income (DTI) ratio, credit history and other factors to determine what loans you qualify for, your rate and how much you can borrow. It doesn’t specify a minimum credit score, but most lenders set a minimum score of 620 for conventional loans.

Provident Funding does offer The Home Possible mortgage, which is designed to help low-income borrowers. This loan permits a down payment as low as 3%.

For other loan types, read our guides on FHA, VA and USDA loans.

Cost and fees

Provident Funding Associates charges a $1,425 administration fee. Third-party fees listed by the lender include an appraisal fee, title insurance, recording fee and taxes. These fees vary based on the loan purpose, loan amount, property state and county and purchase price.

These aren’t necessarily the only closing costs. Provident Funding shows a breakdown of all costs and fees in the Loan Estimate it sends within three days after you submit your loan application. You’ll see a more accurate listing of closing costs when you receive the Closing Disclosure form.

Depending on your terms and loan type, Provident Funding may pay for some or all closing costs if you choose a higher interest rate.

FAQ

What is Provident Funding Associates?

Provident Funding Associates is a direct mortgage lender and servicer. It offers purchase and refinance loans in 25 states at the time of publishing.

Is Provident Funding Associates legit?

Provident Funding has been part of the mortgage lending industry since 1992. In 2021, it originated over 32,000 purchase and refinance loans, according to HMDA data.

Where is Provident Funding Associates available?

Provident Funding originates loans in Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and Washington.

Still have questions?

Shop with confidence

Compare with top companies

Network Capital
View profile
Veterans United Home Loans
View profile
AmeriSave Mortgage
View profile
Lower
View profile

Provident Funding Associates Reviews

Write a Review

Filter by Rating

  • (13)
  • (2)
  • (2)
  • (12)
  • (153)

Popular Mentions

    How do I know I can trust these reviews about Provident Funding Associates?
    • 4,895,222 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Recent
    • Recent
    • Oldest
    • Most helpful

    A link has directed you to this review. Its location on this page may change next time you visit.

    How do I know I can trust these reviews about Provident Funding Associates?
    • 4,895,222 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Customer ServiceCoveragePricePunctuality & SpeedRefunds & PayoutsStaffBillingRates

    Reviewed Sept. 17, 2025

    I simply cannot in good conscience recommend a company that make ZERO exceptions for medical hardship. To be clear, this company purchased my mortgage. I have a credit rating over 800. I have never missed a payment. Provident allows from the 1st to the 15th as their acceptable window to submit payment. On June 18th of this year I had cancer surgery and everything associated with that disease state. I paid some of my bills in cash-and fought with the hospital for close to THREE months to be refunded my overpayment.

    I paid my house payment today and when I did I noticed a late charge. When I called and spoke with a customer service rep I was surprised to be told that due to their investors policy there are NO exceptions given to waive a late fee. I explained that in the past my payment was processed after the 15th and never had a charge before. I was told that's because the due date fell on a holiday or weekend. When that happens, it is automatically extended to next business day.

    I explained my medical situation and when I was again told the rep could do nothing due to company policy of investors, I asked (politely) to be transferred to a supervisor. I explained and went through the same conversation and was told the same thing: Provident Funding DOES NOT allow ANY exceptions to waive ANY late fee. PERIOD. It is their INVESTOR and company policy.

    Now, prior to June I did not have throat cancer on my bingo card. I did not have all the bills that go along with that on my radar. And, despite being able to cover everything it put me in a position where I had to wait to be refunded in order to make my payment. I did not have that it would take me three months (tech 9/28 is month 3) to get refunded from my hospital from my cash overpayment on 6/18. I also did NOT expect a company to be so rigid and intolerant even when the payment was received in full less than 36 hours after the last date to post.

    I did not expect-and I have bought many houses in my life-that if there is a window to make your payment that THAT is what they call a grace period. Perhaps I am a 58 year old naïve man, but a grace period to me is the time AFTER the last payment date. As a business owner myself, that is how I would explain it to a customer. I certainly would not and NEVER charge a person a late fee before or after they shared their medical journey with me. I simply cannot recommend a company that treat people in this manner.

    Thanks for your vote!
    Customer ServiceCoverageRefunds & PayoutsStaffLoan ProcessHonesty & Transparency

    Reviewed Feb. 11, 2025

    We've processed a handful of loans with Provident and as long as your loans are simple, cookie cutter, and don't require any moving parts then you'll be good. Our account executive, Logan **, is not helpful and compared to our other AEs at Freedom, The Loan Store, EPM etc, he is at the bottom of the barrel. If you need any assistance escalating a condition he will just go back to the underwriter and partner with them saying they did all they could, even when they are wrong. He or the underwriter will never give you the contact information for an underwriting manager so they portray themselves as the "end all" which is not good since we caught the underwriter and Logan in lies and cover ups.

    The "senior" underwriter in question, when asked for help, instead wanted us to play a guessing game on what was required to satisfy a condition and told us we could move forward with making a borrower pay for his tax return to get amended and it "might" work. We tried calling Logan to get his help several times after he directed us to go back to the underwriter (and the underwriter was again unhelpful) but he never called us back and ignored us. Finally after the Broker Owner informed him he was going to end the relationship he called him. As you can see, the service is horrible so if you think at all you may need help with anything don't count on it.

    Thanks for your vote!

    Not sure how to choose?

    Get buying tips about Mortgage Lenders delivered to your inbox.

      By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

      Thanks for subscribing.

      You have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

      Customer ServiceBillingLoan ProcessRates

      Reviewed Feb. 4, 2025

      I'm sorry to read about the negative experiences that others have had. I've always had great experience w Provident. On two occasions I accidentally paid $2 less that what I owed, and while their computer understandably considered this "payment in full not made," it only took one phone call to explain the situation and everything got ironed out by a very pleasant call center person ("Cliff"). One of the fixes even involved having Provident re-run last year's mortgage interest statement, which has to be a lot of work for my $2 error.

      I've found that when there's a hiccup in a large corporate system, if I call in politely, willing to accept blame, expressing appreciation for anything they can do, the results are always better than storming in with guns blazing. The call center people are humans, and we all respond better to politeness than anger. I will add that I originated my loan with another lender, which then sold it to Provident. I'm always a little nervous when one of my loans gets sold, but Provident handled it seamlessly.

      Thanks for your vote!
      Loan ProcessRates

      Reviewed Jan. 30, 2025

      Provident ran my Buyer headlong into a wall. They lure you in with low rates, but they compensate for this buy over conditioning the loan. They asked for many things beyond what other Lenders, and Fannie Mae request. If you don't give it to them, they deny the loan. A very painful learning experience. Go anywhere else.

      Thanks for your vote!
      Customer ServiceLoan Process

      Reviewed Feb. 27, 2024

      They purchase loans because nobody in their right mind would select this servicer voluntarily. No phone calls until their fees accrue. Takes them the better of 30 of the 60 days they claim to give you to transition to even give you access to an account. Go with a different lender.

      Thanks for your vote!
      Staff

      Reviewed Feb. 14, 2024

      The application process is arduous. They are a compassionless company with no customer focus. They are not willing to assist in any way, shape or form. Will be switching lenders asap. They are friendly at first, but then become snotty and completely unhelpful.

      Thanks for your vote!
      PriceBillingLoan ProcessRates

      Reviewed Oct. 3, 2023

      Definitely a NO-NO. My loan was sold to this low rated business. Unfortunately, they don’t offer bi-weekly payments. I had to pay over $4k to my previous lender 3 months ago to have the biweekly set up and now my loan was sold to Provident Funding who doesn’t offer that service. Not a decent way to make business.

      Thanks for your vote!
      Customer ServiceCoveragePriceStaffLoan Process

      Reviewed July 20, 2023

      Refinance costs were almost $10k and not disclosed until the final signing. I recently sold my house and paid off the loan and then still took $3,650 from my escrow account for lender forced hazard insurance. This was not disclosed to me until after the fact and was conveniently the exact amount I had in escrow. I have paid the loan of and still receive phone calls and emails about purchasing other products or referring friends and family. BEWARE! Worked with another lender for my new mortgage and it was a completely different experience. Also, the mortgage reps on their customer service line are clueless and unable to answer basic questions about your loan or refinancing. YOU HAVE BEEN WARNED!!

      Thanks for your vote!
      Customer ServicePunctuality & SpeedOnline & AppStaffBillingLoan ProcessRates

      Reviewed May 23, 2022

      We didn't pick Provident Funding when we financed our apartment over 10 years ago, they brought our loan. Since 2014, we have paid on time even during the difficult COVID economy period. May 2022, we mailed the payment as usual, only this time Provident Funding did not receive on time, 1 day late. I cannot tell if it's Post Office delay or their internal staff shortage issue. However, when I called their Customer Service staff and supervisor, talked with Evelyn, Ty and Steve, all did not care about a loyal customer. They stuck with policies without understanding of the situation, of course, no waiver granted.

      I was also told that as a customer of Provident Funding, we cannot talk to their President. Really? Because they made millions of dollars a year so they don't dare to be involved in their real daily business operation or even talk to customers? I totally did not see any of their mission statement that Provident Funding put in their website which could be their intent in 1992 but definitely not in 2022. They only interest in finding new customers not to maintain a good one. My advice to everyone is: "DO NOT USE PROVIDENT FUNDING!" They won't let you go when you make a minor mistake or under any situation out of your control! Keep read the comments from the other customers. I won't even give 1 star but can't put in any comments if not.

      Thanks for your vote!
      Customer ServiceStaff

      Reviewed March 16, 2022

      Worst company I have dealt with, they will screw you. Terrible customer service that could care less. Terrible computer system. Mistakes can be made and they will not call you. Worst experience with a company I have ever had.

      Thanks for your vote!

      Simplify your search

      Easily compare personalized rates.

      Loading more reviews...
      Sources
      ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page . Specific sources for this article include:
      1. Federal Financial Institutions Examination Council, “ HMDA Data Publication .” Accessed Sept. 9, 2022.

      Provident Funding Associates Company Information

      Company Name:
      Provident Funding Associates
      Website:
      www.provident.com
      Provident Funding Associates logo
      Leave a reviewAre you a Provident Funding Associates customer?
      Share your experience
      Explore more...