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  1. Quicken Loans
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Discover Financial - Star Review


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Discover Financial Services, (formerly Home Loan Center) is an American financial services institution and is the third largest credit card brand in the United States. In June of 2012, Discover acquired Home Loan Center, Inc. from Following this acquisition, Discover Financial Services began offering mortgage loans through Discover Home Loans.

In 1985, Discover was introduced by Sears into the market. In 1997, Discover merged with Morgan Stanley, and by 2007, it was an independent company.

Discover Financial Features:

  • Fixed rate mortgages
  • Adjustable rate mortgages
  • Federal housing administration loans
  • Refinancing loans (their standard conventional loans can be used for refinancing)
  • HARP refinancing loans


Discover Home Loans does not provide exact pricing information on their website. However, users can find a wide variety of pricing and cost information through their Frequently Asked Questions feature. The website also features a detailed breakdown of a Good Faith Estimate.

Customer Service and Support:

Discover Home Loans had three avenues for contacting customer service. Interested borrowers could fill out an online form and be contacted by a Discover representative, they could call Discover Home Loans, or they could write to Discover’s physical address. Users can also visit Discover’s Frequently Asked Questions section for more information.


  • Discover is a reputable company.
  • The electronic application and approval process is easy.
  • Online application status and online account information.
  • They commit to closing on time or else they will credit consumers with $1,000 towards closing costs (some stipulations may apply).
  • They apply a Welcome Back bonus for subsequent loans (some stipulations may apply).


  • To get the best deals on their mortgages, home buyers must buy a typical owner-occupied, single family home, and have a good credit score.

Our Impression:

With Discover Home Loans being so new, we have not been able to develop a full opinion about their services yet. Discover Home Loans does not have a lot (if any) online consumer reviews, and many of the reviews that populate for Discover actually originated under Home Loan Center, Inc.  Despite the lack of information about their current abilities as a mortgage lender, Discover has a healthy reputation as a credit card lender and will do well in the mortgage market. Discover has plenty of industry experience, customer service experience, and a history of successful business practices.

We would not advise potential borrowers against using Discover Home Loans. However, as with all home loans, we advise consumers to practice due diligence and speak to their customer service department. Borrowers should thoroughly review the contracts and discuss complex clauses with the lender. Borrowers should also have a thorough understanding of all rates and fees before initiating the lending process. With the success of Discover as a credit card lending service, we feel certain that they will be a successful mortgage company, but there is no evidence yet to support this one way or another.

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