Axos Bank, founded in 2000, is a digital financial services company based in San Diego. The full-service online bank is insured by the Federal Deposit Insurance Corp. and offers everything from personal and business savings and checking accounts to auto and home loans.

The minimum credit score for an Axos Bank mortgage is 620, with government-backed Federal Housing Administration loans requiring a score of 680 or higher. Borrowers with an Axos Bank checking account can reduce or eliminate the lender fee and earn cash back by using the account to make monthly mortgage payments.

Axos Bank originates conventional and nonconforming loans, Department of Veterans Affairs and FHA loans with low- and no-down-payment options, interest-only mortgages, and investment property loans. Specialty loans from Axos Bank also help foreign nationals achieve home ownership.

Loans can be used for many property types, from single-family homes to multistory condo complexes.

Alternatively, borrowers can finance home improvements or pay off debts with an Axos Bank home equity loan or line of credit, or use a cash-out refinance to pay medical bills or education expenses. Axos Bank also offers refinance options to match goals such as lowering your monthly payment, removing mortgage insurance, switching to a fixed rate or paying off your mortgage faster.

You’ll start the mortgage application process online by answering a series of basic questions about the type of mortgage you want and then receive a free quote. After you submit the initial mortgage application digitally, an Axos Bank loan consultant will contact you.

You can upload to your online application all required documents, such as bank statements, W-2s and pay stubs. Checking the status of your loan application and tracking its progress can also be accomplished online.

Axos Bank typically closes mortgages within 30 days. But if you are preapproved and prequalified, Axos Bank might be able to close sooner.

The longest mortgage loan term Axos Bank offers is 30 years, and the shortest term is 10 years. The best interest rates are available with 15- and 30-year terms. Interest rates can be fixed or adjustable.

Borrowers can save up to $995 on the lender fee and earn 3% cash back annually by opening an Axos Bank checking account and using it to pay the mortgage.

At closing, borrowers are responsible for costs such as discount points, loan origination and appraisal fees, surveys, and title and homeowners insurance premiums. Closing costs on Axos Bank mortgages can add up to 8% of a home’s purchase price, according to the lender.

Axos Bank will cancel automatic payments on your account if you have three or more consecutive returned payments. (You can avoid this by making sure your account information is up to date.) Axos Bank discloses late fees and penalties in its mortgage contract.

Axos Bank offers mortgage discounts for borrowers who open an Axos Bank checking account. Save up to $995 on the lender fee for mortgages of at least $250,000 and $200 on the fee for mortgages less than $250,000.

An Axos Bank checking account also earns 3% cash back annually – 0.25% monthly – when you pay your mortgage with it. The credit is based on principal and interest payments and does not include escrow, and borrowers can earn no more than $100 cash back monthly.

Axos Bank offers online prequalification and preapproval. Loan amounts range from $15,000 to $510,000, with some exceptions.

The lender’s jumbo loans have neither a loan limit nor a credit minimum.

The minimum credit score to qualify for most Axos Bank mortgages is 620, which falls in FICO’s fair range.

Government-backed FHA and VA loans generally require a “good” FICO credit score of 680. However, Axos Bank considers not only credit history but also down payment amount and savings.

Axos Bank does business nationwide.

Axos Bank has an A+ rating with the Better Business Bureau, and Trustpilot scores Axos Bank 2.6 out of 5 stars, with complaints mostly related to customer service.

The Consumer Financial Protection Bureau received 25 mortgage-related complaints in 2020 about Axos Financial, the holding company for Axos Bank. Nearly half were related to trouble during the payment process. Each complaint received a timely response and was closed with an explanation.

Axos Bank is an online bank but supports borrowers with mortgage consultants available at 888-546-2634 from 8 a.m. to 5 p.m. PST. You can also request information by completing an online form, and a loan consultant will contact you.

When paying Axos Bank mortgages, you can choose automatic withdrawal from your Axos Bank account, make a one-time online payment or mail a check. A virtual financial assistant called Evo, accessible through the Axos Bank app or online banking, can be used to manage your loan, including scheduling and making payments.

The entire mortgage application process with this digital bank is completed online, including rate quotes or prequalifications. Upload all documents and check the status of your loan application online. Loans close online, and payments can be made through the Axos Bank mobile app or website.

The lender requires a phone call after you begin the loan application. You can contact customer service, and a mortgage consultant will walk you through the process.