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07/26/2021 - Best Mortgage Rates from Big & Reputable Lenders and SD Reviews (30year @ 2.75%, 15year @ 2.25% etc)

5,049 1,724 July 4, 2020 at 01:27 PM in Free Shipping (6)
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Last Edited by shahhere July 26, 2021 at 06:35 AM
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Details on how to understand the Mortgage basics and information that I understand for your learning can be accessed on this post (Click this hyperlink to go to the post); If you are new to this process and have questions this is a Must Read before asking question on the forum!


Reviving my over a decade old thread from SD and FW as the rates have gotten competitive. This thread is a SD community thread to compare and post best rates received along with their lender experience for a quick compare and estimation from a starting point.


Please note that rates will vary on quite a few factors and just because one person has a rate will not guarantee you will receive the same rate but simply use this as a guide and negotiation tactic.

All below rates are based on assumptions of certain LTV, DTI, & Excellent Credit Scores:

30 Year Fixed best rates (Assuming Good Credit & 20% down, low LTV, low DTI, etc etc):
All listed lenders are here because I shopped them and have encountered competitive pricing and not because I get any sort of a kickback....use this as a gauge for the latest but note that things can change week to week, day to day and even hour to hour:

07/14/2021 2.875% Better.com- Will consider Lender Match to beat Competitors and combine with Amex cashback (Click here for additional Forum thread details). Amex's "Digital Assist" Team @ 800-297-7500

07/14/2021 2.875% LoanDepot.com - Is competitive but works better if you have another offer for them. My LO Luke Dean
[email protected] 949-652-4521

07/14/2021 BSMFunding (David Pressel) - Call to get the latest rates (no published online). Very competitive rates; get everything in writing via email!
https://bsmfunding.mymortgage-onl...essel.html
David Pressel (NMLS: 562175)- Branch Manager - Phone: 908-208-2036
[email protected]
07/14/2021 2.5% LoanCabin [loancabin.com] - Most Competitive but refinance times have grow to almost 6 months for many people so proceed with caution as recent reviews indicate normal 1 month closing. Generally do not charge for big Lender Fees (A+B on LE) as they are under $100 in most cases; esp if appraisal is waived for your scenario.

07/14/2021 3% LenderFi - Competitive but might be slow and not work on beating other lender rates.
30 Year Fixed Jumbo Best Rates (Assuming Good Credit & 20% down):
TBD
15 year Fixed:
07/14/2021 2.0 % Better.com; matches Bankrate rates for themselves.
07/04/2020 2.5% NIH Credit Union with Lender Credit
Title Company Comparisions:
RadianTitleDirect.com - OP has used them for almost a decade with getting best rates (closed after Covid, Lender must submit order as consumer side is closed).
ALTTitle.com
https://www.valerotitle.com/ - Texas only.
Alphabetical list of other lenders (some could be non-proven without direct member experiences posted here):
  1. AimLoan - Will provide LE without hard pull if credit is frozen https://www.aimloan.com/
  2. Amerisave - will give you scores from all 3 bureaus with just a soft pull https://www.amerisave.com/
  3. Better.com https://better.com/
  4. BoxHomeLoans https://www.boxhomeloans.com/
  5. Close Your Own Loan https://www.closeyourownloan.com/...sults.aspx
  6. Colonial Mort http://www.colonialmort.com/
  7. HighTechLending http://www.hightechlending.co/Default.aspx
  8. Interactive Mortgage https://interactivemortgage.com/ Eric from IM is super rude so good luck dealing with this guy!
  9. LenderFi https://www.lenderfi.com [lenderfi.com]if the link wont work try this backend link: https://app.lenderfi.com/app/sign...r/lenderfi
  10. Loan Cabin https://www.loancabin.com/
  11. Loan Depot https://www.loandepot.com/
  12. LoanLock https://www.loanlock.com/
  13. NavyFederal CU https://www.navyfederal.org/
  14. NIH credit union (Delware, District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia, West Virginia) https://www.nihfcu.org/
  15. Northpointe Bank https://www.northpointe.com/
  16. Owning.com (Operates only in CA) https://owning.com/
  17. Pentagon Federal CU https://www.penfed.org/
  18. Provident Funding - will give LE without locking rate https://www.provident.com/
  19. RatePlus (California) https://www.rateplus.com/
  20. Travis Credit Union (12 North Cal Counties only) https://www.traviscu.org/ Eligibility traviscu.org
  21. United wholesale mortgages https://www.uwm.com/
  22. Watermark Home Loans https://www.watermarkhomeloans.com/
  23. West Coast Mortgage Associates (The loan broker is in So.Cal. Debbie Morgan) https://wcmtg.com/


Shahhere

Old Thread - https://slickdeals.net/e/1223863-03-06-2009-best-mortgage-rates-from-big-reputable-lenders-30year-5-15year-5-arm-s-etc
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Last Edited by RiversofWisdom August 18, 2021 at 03:12 PM
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Quote from MeAPhool :
I think a lot of people get confused with regards to "no closing cost". Specifically I think that is with regards to A+B+C (as referenced in this post by volcomssj48 - https://slickdeals.net/forums/showpost.php?p=138543920&postcount=138)

As per volcomssj48, this is a good place to go for a basic understanding of the LE (Loan Estimate) that should be provided to you by each lender once you give all of your information: https://www.consumerfinance.gov/o...-estimate/

I'm in NJ so I can't really shop Title Insurance much as it's the cost is regulated by the state, however in other states, you can really cut down some of the costs in section "C".
Good site for daily mortgage news. Subscribe to their daily mortgage rate news to learn about their predictions. Also take a look at the rest of their site.
http://www.mortgagenewsdaily.com/...age_rates/



Potential Lenders - Mentioned in Thread
*Please add to this list and add locality if applicable*
  1. Loan Cabin https://www.loancabin.com/
  2. Better.com https://better.com/
  3. Interactive Mortgage https://interactivemortgage.com/
  4. LenderFi https://www.lenderfi.com/
  5. owning.com (Operates only in CA) https://owning.com/
  6. NIH credit union (Delware, District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia, West Virginia) https://www.nihfcu.org/
  7. Loan Depot https://www.loandepot.com/
  8. Travis Credit Union (12 North Cal Counties only) https://www.traviscu.org/ Eligibility [traviscu.org]
  9. Pentagon Federal CU https://www.penfed.org/
  10. Interactive Mortgage https://interactivemortgage.com/
  11. NavyFederal CU https://www.navyfederal.org/
  12. United wholesale mortgages https://www.uwm.com/
  13. BoxHomeLoans https://www.boxhomeloans.com/
  14. LoanLock https://www.loanlock.com/
  15. West Coast Mortgage Associates (The loan broker is in So.Cal. Debbie Morgan) https://wcmtg.com/
  16. RatePlus (California) https://www.rateplus.com/
  17. Northpointe Bank https://www.northpointe.com/
  18. HighTechLending https://hightechlending.mortgagewebcenter.com/
  19. Close Your Own Loan https://www.closeyourownloan.com/...sults.aspx
  20. AimLoan - will give LE without hard pull if credit is frozen https://www.aimloan.com/
  21. Amerisave - will give you scores from all 3 bureaus with just a soft pull
    https://www.amerisave.com/
  22. Provident - will give LE without locking rate https://www.provident.com/ Best Credit Back with 60% LTV or better.
  23. Watermark Home Loans https://www.watermarkhomeloans.com/ Skip these guys. They are being rude to Slickdealers. In one occasion they have explicitly said they don't want to do business with people from Slickdeals. They also have an approach where they give you the best rate initially and just raise it more each time you ask.
  24. Colonial Mort http://www.colonialmort.com/
  25. Annie Mac https://www.annie-mac.com/ Licensed in these states https://www.annie-mac.com/page/licensed-states/
  26. Rate Rabbit https://www.raterabbit.com/ Licensed in MA and others [raterabbit.com]

Discount lenders who DO NOT accept fully documented in tax returns self-employment income:
Owning.com
BoxHomeLoans
Lower.com

Discount Lenders that DO accept fully documented in tax returns self-employment income:
Sebonic
Caliber
Sage

Title Company Shopping
AltTitle.com
mytitlegenius.com (formerly entitle direct)
TO AVOID - Settlement LTD (local Pittsburgh run away from them - high cost, very bad service, lot of delays)


Feel Free to Add Sections for Each Lender - MeAPhool

Loan Cabin - DetailsWARNING. DO NOT GO WITH LOAN CABIN. TRUST ME.
I would have lost the home if i was trying to buy a house.
I just had a normal refi and it took then 127 days to close. out of the 27 emails i sent, they responded to 3. I even had to call (complain) their main office 2 times to get a response to any emails. they screwed the closing paperwork as well.


Loan Cabin does not charge lender fees. Actually all of this is in their FAQ but of course nobody reads anything and wants everything spoon fed.

This means A+B (reference the link above in the wiki regarding Loan Estimate) in the Loan Estimate should be 0 (as long as your appraisal is waived).

You will be responsible for Title Cost (of course you can shop that to your heart's delight)
You will be responsible for Recording Fee in your county
You will be responsible for Escrows (if you so choose OR if you are close to Homeowner's OR Property Tax payment - though you can negotiate and show evidence to get it waived. Most lender's will waive it if you are choosing not to escrow and you can show proof that you paid the upcoming Property Tax or Homeowner's Insurance)

You will be responsible for Prepaid Interest (this isn't a cost. If you didn't refinance, you'd be paying the interest at your current mortgage rate which I assume would be higher).

Lender Credit - If this covers A+B+C+E then you have a no-cost refinance. If you have a surplus aside from A+B+C+E, then technically you made money on your refinance.


If you apply and do no hear back for 3 days, then on the 3rd business day, reach out to [email protected]. They will usually help get a response on your application within a day.



If the information in this WIKI does not cover your questions, then please ask. We will answer and update WIKI accordingly.

Thanks - MeAPhool

Quote from arouncoumar :
For those needing clarity on LC closing costs, I was on the same boat. See what they charge here https://www.dropbox.com/s/r30ecea...t.png?dl=0
Quote from PeterLegend :
Here is a photo of my loan estimate from Loan Cabin, my lender credits should be closer to 3K based on my initial conversations with Bob so i'm following up with him on that.

I do see title insurance in my estimate. I reached out to Owning but I didn't quality for the no cost refinance option since my LTV was 73%, it has to be 50% or lower when I spoke to them.

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Joined Apr 2009
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> bubble2 54 Posts
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vasavers
07-30-2020 at 09:03 AM.
07-30-2020 at 09:03 AM.
Quote from nicemann :
Yep I posted that a little whiles back. It works great.
can we do for Loandepot too. I tried it but unsuccessful.
Reply
Joined Jun 2007
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> bubble2 3,123 Posts
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nicemann
07-30-2020 at 09:15 AM.
07-30-2020 at 09:15 AM.
Quote from vasavers :
can we do for Loandepot too. I tried it but unsuccessful.
Loandepot is much easier. Just go to https://www.loandepot.com/branches and find your local branch. Then just click on their website and see all the LOs. If you click on contact me it will have their phone number and email address. I did this but their rates were not as good as others even with a LE for them to match.
Reply
Joined Jul 2020
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michiganwolves50
07-30-2020 at 09:23 AM.
07-30-2020 at 09:23 AM.
Quote from MeAPhool :
I used that for LoanCabin but they only have 1 rep for NJ. I also emailed [email protected] and still no reply.

Waiting for LE's is like watching paint dry. Instead of playing this cat/mouse game, I wish lenders were forced to just put their best rates online for you to see and apply.

It would make less work for everyone.
Hello- LC does put their live rates on their site and are accurate. They are the one lender that does put accurate rates online. I was quoted same rate I saw online. Only thing you have to make sure is do a 60 day lock. Go to loancabin.com and hit view rates and apply.
Reply
Joined Jun 2007
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> bubble2 3,123 Posts
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nicemann
07-30-2020 at 09:28 AM.
07-30-2020 at 09:28 AM.
Quote from michiganwolves50 :
Hello- LC does put their live rates on their site and are accurate. They are the one lender that does put accurate rates online. I was quoted same rate I saw online. Only thing you have to make sure is do a 60 day lock. Go to loancabin.com and hit view rates and apply.
LC quotes are kind of weird though. They show rates for states they do not even service. Kind of sad thinking you can get such a great late and then start applying only to see they don't service you.
Reply
Last edited by nicemann July 30, 2020 at 09:43 AM.
Joined Nov 2004
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> bubble2 1,118 Posts
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MeAPhool
07-30-2020 at 09:49 AM.
07-30-2020 at 09:49 AM.
Quote from michiganwolves50 :
Hello- LC does put their live rates on their site and are accurate. They are the one lender that does put accurate rates online. I was quoted same rate I saw online. Only thing you have to make sure is do a 60 day lock. Go to loancabin.com and hit view rates and apply.
That I understand, the fees are less for a shorter lock but 60 is probably safer. Does anyone know if LC will extend the rate for free if the delay is on their end? I have all my documents ready and can send them everything within 1 hour. If they extend for free due to delay on their end, I'd pick 15 day.

For LC, my issue is not getting a reply after filling out the online application. I know everyone is busy -- leading to my "watching paint dry" comment.

While I can see their rates, I can only see their best rate (with points) and no estimated closing fees except for an APR. With some other lenders, I can see estimated breakdown of closing costs as well as slightly higher rates with associated lender credits.
Reply
Joined Apr 2009
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> bubble2 54 Posts
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vasavers
07-30-2020 at 10:06 AM.
07-30-2020 at 10:06 AM.
Quote from nicemann :
Loandepot is much easier. Just go to https://www.loandepot.com/branches and find your local branch. Then just click on their website and see all the LOs. If you click on contact me it will have their phone number and email address. I did this but their rates were not as good as others even with a LE for them to match.

I tried that , they don't pick the phone. It's better to get those who lives outside of the state but has state license to do the loan.
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Joined Jun 2013
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> bubble2 1,411 Posts
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MeSandy
07-30-2020 at 10:15 AM.
07-30-2020 at 10:15 AM.
Anyone has details for Watermark Representative for Oregon.

I tried to search but couldn't find anyone.

NM: Found it.
Reply
Last edited by MeSandy July 30, 2020 at 10:31 AM.

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Joined Aug 2012
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HarryS4062
07-30-2020 at 10:30 AM.
07-30-2020 at 10:30 AM.
Quote from MeAPhool :
That I understand, the fees are less for a shorter lock but 60 is probably safer. Does anyone know if LC will extend the rate for free if the delay is on their end? I have all my documents ready and can send them everything within 1 hour. If they extend for free due to delay on their end, I'd pick 15 day.

For LC, my issue is not getting a reply after filling out the online application. I know everyone is busy -- leading to my "watching paint dry" comment.

While I can see their rates, I can only see their best rate (with points) and no estimated closing fees except for an APR. With some other lenders, I can see estimated breakdown of closing costs as well as slightly higher rates with associated lender credits.
LC will not allow you to lock for 15 days even though they advertise it on their website. That is the only bait and switch portion. I tried and they said it is company policy not to lock for 15 days these days since they are overloaded and sure that they will not be able to close in 15 or even 45 days. Not saying you should not try as things could change by now, but just my DP from about 1 month back - that is what I was told when I tried to lock for 15 days. I was disappointed because their 60 day lock had more points than the 15 day lock which I thought I was going to get. I never continued with them after that.
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Joined Nov 2004
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MeAPhool
07-30-2020 at 10:49 AM.
07-30-2020 at 10:49 AM.
Quote from HarryS4062 :
LC will not allow you to lock for 15 days even though they advertise it on their website. That is the only bait and switch portion. I tried and they said it is company policy not to lock for 15 days these days since they are overloaded and sure that they will not be able to close in 15 or even 45 days. Not saying you should not try as things could change by now, but just my DP from about 1 month back - that is what I was told when I tried to lock for 15 days. I was disappointed because their 60 day lock had more points than the 15 day lock which I thought I was going to get. I never continued with them after that.
Thanks for the heads-up. Just curious, I looked back and saw you were willing to do 8 month escrow with Better.com. Did they mention if you could waive that after a certain period of time?

I know it's less risk, but I find it annoying, especially if I can show proof that I've paid my taxes on-time since (forever), forever being the length of period I've owned my current property (>5 years). With escrow, they can always screw up and they take escrow more $$$ than necessary.
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Joined Aug 2012
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HarryS4062
07-30-2020 at 11:20 AM.
07-30-2020 at 11:20 AM.
Quote from MeAPhool :
Thanks for the heads-up. Just curious, I looked back and saw you were willing to do 8 month escrow with Better.com. Did they mention if you could waive that after a certain period of time?

I know it's less risk, but I find it annoying, especially if I can show proof that I've paid my taxes on-time since (forever), forever being the length of period I've owned my current property (>5 years). With escrow, they can always screw up and they take escrow more $$$ than necessary.
Not 8 months and I was not "willing". It was 3 months for me and I asked it to be removed and was told lender credit will be halved if I remove it. So I kept it at least for now. I don't like escrows either and don't have them on my current loan - just on the new one that I applied for. I will likely request them removed at the end of the first year if I have not refinanced by then. I don't believe this is Better.com policy to add escrows. Until now they have been very lenient on this aspect and removed them right from day 1 when I applied. But this time around in order to get the rate I am getting I think they had to put this in to meet some investor requirement.
Edit: Once the loan funds it is up to the investor and loan servicor to decide on removing the escrows. ymmv I guess and have to try then.
Reply
Last edited by HarryS4062 July 30, 2020 at 11:23 AM.
Joined Dec 2010
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nagraw4
07-30-2020 at 11:21 AM.
07-30-2020 at 11:21 AM.
Quote from Methodman :
I'm about to lock with LenderFi after failing to get Better to match two LE's. $567K 30yr non-conforming loan in CA. 44% LTV. First was a LE from LC for 2.625% with about $1,300 in out of pocket costs. LenderFi just beat that with 2.625% and no out of pocket costs. Sent both LE's to Better and they kept quoting that their costs are $14-15K so there's no way they would be able to match either. Told me even with the AMEX credit they couldn't come close. I asked about the $100 price match guarantee and he sent me a screenshot that said that only applied to loans under $500K. Pretty much done with them, especially Miguel A. Sucks I won't get a 2nd $2500 AMEX credit, but at this point, going from 3.875% -> 3.125% -> 2.625% within 2 months is a nice win.
Did you inform LenderFi that you are refi'ing in such a short period of time? Did they have any issues with it?
Asking because I might close with Better in a few days and then go and refi with Loan Cabin.
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Joined Nov 2004
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MeAPhool
07-30-2020 at 12:35 PM.
07-30-2020 at 12:35 PM.
Quote from HarryS4062 :
Not 8 months and I was not "willing". It was 3 months for me and I asked it to be removed and was told lender credit will be halved if I remove it. So I kept it at least for now. I don't like escrows either and don't have them on my current loan - just on the new one that I applied for. I will likely request them removed at the end of the first year if I have not refinanced by then. I don't believe this is Better.com policy to add escrows. Until now they have been very lenient on this aspect and removed them right from day 1 when I applied. But this time around in order to get the rate I am getting I think they had to put this in to meet some investor requirement.
Edit: Once the loan funds it is up to the investor and loan servicor to decide on removing the escrows. ymmv I guess and have to try then.
Gotcha, my fault. You had quoted lifeinabox who mentioned LC was enforcing 8 months and for some reason my brain associated it to you Peace
Reply
Joined Dec 2013
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> bubble2 276 Posts
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tedzo
07-30-2020 at 01:01 PM.
07-30-2020 at 01:01 PM.
I was reading today that a whole sale mortgage lender- United Wholesale Mortgage announced under 2% for 15yr (1.875, actually) for the first time...
Maybe a gimmick.... if not, this is going to keep us busy Smilie

https://finance.yahoo.com/news/he...00865.html
1
Reply
Joined Jun 2007
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> bubble2 3,123 Posts
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nicemann
07-30-2020 at 01:06 PM.
07-30-2020 at 01:06 PM.
Quote from tedzo :
I was reading today that a whole sale mortgage lender- United Wholesale Mortgage announced under 2% for 15yr (1.875, actually) for the first time...
Maybe a gimmick.... if not, this is going to keep us busy Smilie

https://finance.yahoo.com/news/he...00865.html
I hate articles like this. It's kind of like when they say the avg interest rate is x.xx% but they are taking points into consideration. So is it really a 1.875% or is there points to get down to that?

Here is an article about their same "Conquest Program" but for 30 years and rates down to 2.5%. This was from May 13th https://www.thetruthaboutmortgage...ear-fixed/
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Last edited by nicemann July 30, 2020 at 01:15 PM.

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Joined Dec 2006
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yapagaldil
07-30-2020 at 01:10 PM.
07-30-2020 at 01:10 PM.
Quote from tedzo :
I was reading today that a whole sale mortgage lender- United Wholesale Mortgage announced under 2% for 15yr (1.875, actually) for the first time...
Maybe a gimmick.... if not, this is going to keep us busy Smilie

https://finance.yahoo.com/news/he...00865.html
Now how can you get a loan estimate from them?
Reply
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