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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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Community Wiki

Last Edited by RiversofWisdom August 18, 2021 at 03:12 PM
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.

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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 Aug 2006
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> bubble2 499 Posts
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vfx
07-30-2020 at 04:59 PM.
07-30-2020 at 04:59 PM.
Quote from nicemann :
Loan Cabin does charge a lender fee of $1290.00 on most loans. So that will be about half your credit. But still a good deal for a 2.5% if you did not have to pay for points.
On my LE, it doesn't have any lender fee. Where do you get this info?

Also I got in the email confirmed that there are no points and no lender fees. Anyway, please post your info otherwise, use LE to make sure whether lender fee/points or not.

For the 30 year fixed, we can do:

2.49% interest rate, NO points NO lender fees
Reply
Joined Jul 2020
L2: Beginner
> bubble2 59 Posts
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Joanneitaly1958
07-30-2020 at 05:01 PM.
07-30-2020 at 05:01 PM.
Quote from nicemann :
Loan Cabin does charge a lender fee of $1290.00 on most loans. So that will be about half your credit. But still a good deal for a 2.5% if you did not have to pay for points.
Nicemann- Loan Cabin does not charge lender fees at all. If a fee was on there this may have been a mistake. I would definitely ask them about this because Myself and 4 friends and family That I refereed same deal.
Reply
Joined Jul 2020
L2: Beginner
> bubble2 59 Posts
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Joanneitaly1958
07-30-2020 at 05:04 PM.
07-30-2020 at 05:04 PM.
Quote from Shikoku74 :
Joanneitaly1958, Would you mind to post a detail breakdown of all cost on LE for Loan Cabin. This will help as I am going to hear from them. Thank you.
Box A. $0
Box B. $0

Box C. My third party title fees

Loan Cabin does not charge any lender fees. They advised if I wanted find my own title company I could. I had an appraisal waiver so no fee there.

I chose Loan Cabin because they were up front with me from day 1. I did not have to bring an LE for them to match. They had the best rates and I felt comfortable proceeding.
Reply
Last edited by Joanneitaly1958 July 30, 2020 at 05:07 PM.
Joined Nov 2004
L10: Yummy Food
> bubble2 1,118 Posts
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MeAPhool
07-30-2020 at 05:18 PM.
07-30-2020 at 05:18 PM.
Quote from vfx :
On my LE, it doesn't have any lender fee. Where do you get this info?

Also I got in the email confirmed that there are no points and no lender fees. Anyway, please post your info otherwise, use LE to make sure whether lender fee/points or not.

For the 30 year fixed, we can do:

2.49% interest rate, NO points NO lender fees
Quote from Joanneitaly1958 :
Box A. $0
Box B. $0

Box C. My third party title fees

Loan Cabin does not charge any lender fees. They advised if I wanted find my own title company I could. I had an appraisal waiver so no fee there.

I chose Loan Cabin because they were up front with me from day 1. I did not have to bring an LE for them to match. They had the best rates and I felt comfortable proceeding.
vfx & Joanneitaly

How long after the email with rates did you get an official LE? I thought they would send to me immediately when I responded but I never got another response.
Reply
Joined Jun 2007
L8: Grand Teacher
> bubble2 3,123 Posts
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nicemann
07-30-2020 at 05:27 PM.
07-30-2020 at 05:27 PM.
Quote from vfx :
On my LE, it doesn't have any lender fee. Where do you get this info?

Also I got in the email confirmed that there are no points and no lender fees. Anyway, please post your info otherwise, use LE to make sure whether lender fee/points or not.

For the 30 year fixed, we can do:

2.49% interest rate, NO points NO lender fees

Humm sorry LC does not service my state. I was just going by this on their website. https://www.loancabin.com/faq/doe...nder-fees/
Reply
Joined Jun 2013
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> bubble2 1,411 Posts
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MeSandy
07-30-2020 at 06:21 PM.
07-30-2020 at 06:21 PM.
How much is WM Closing Cost? It seems they have $1400 Origination Fee so it must be close to $4000

Also if anyone has done business with them, how's the experience?
Reply
Joined Dec 2013
L3: Novice
> bubble2 276 Posts
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tedzo
07-30-2020 at 06:27 PM.
07-30-2020 at 06:27 PM.
Quote from MeSandy :
How much is WM Closing Cost? It seems they have $1400 Origination Fee so it must be close to $4000

Also if anyone has done business with them, how's the experience?
They are generally fine. Some people have had some trouble reaching them, it seems. Was fine for me. Costs (A/B/C) was around 2500. Appraisal was waived.
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Joined Jun 2013
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MeSandy
07-30-2020 at 06:34 PM.
07-30-2020 at 06:34 PM.
Quote from tedzo :
They are generally fine. Some people have had some trouble reaching them, it seems. Was fine for me. Costs (A/B/C) was around 2500. Appraisal was waived.
Just $2500, Wow. Is the $1400 Fee included in that?

They are saying $4xxx to me even after waiving Appraisal.
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Joined Jun 2007
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> bubble2 3,123 Posts
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nicemann
07-30-2020 at 06:40 PM.
07-30-2020 at 06:40 PM.
Quote from MeSandy :
Just $2500, Wow. Is the $1400 Fee included in that?

They are saying $4xxx to me even after waiving Appraisal.
My A+B+C with WM was $2,545 including the $1,499 fee. They offered a lender credit of $1,891 so total was really $654. Now this was on a 30 year 2.625% 79% LTV $250k loan. Same thing the appraisal was waived.

I did not go close with them due to already working with another lender who ended up with a better deal for me.
Reply
Joined Jun 2013
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MeSandy
07-30-2020 at 06:45 PM.
07-30-2020 at 06:45 PM.
Quote from nicemann :
My A+B+C with WM was $2,545 including the $1,499 fee. They offered a lender credit of $1,891 so total was really $654. Now this was on a 30 year 2.625% 79% LTV $250k loan. Same thing the appraisal was waived.

I did not go close with them due to already working with another lender who ended up with a better deal for me.
OK, Thanks.

I locked with WM, 2.5%, 30 Years fixed, $27xx in Lender Credit.

But the Guy is saying Closing Cost will be around $35xx-4xxx. Also when i asked for LE, He is saying disclosure team will send it. He just said i am locking your rate.

Is this how WM works?
Reply
Last edited by MeSandy July 30, 2020 at 06:55 PM.
Joined Jun 2007
L8: Grand Teacher
> bubble2 3,123 Posts
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nicemann
07-30-2020 at 06:47 PM.
07-30-2020 at 06:47 PM.
Quote from MeSandy :
OK, Thanks.

I locked with WM, 2.5% 50 Years fixed, $27xx in Lender Credit.

But the Guy is saying Closing Cost will be around $35xx-4xxx. Also when i asked for LE, He is saying disclosure team will send it. He just said i am locking your rate.

Is this how WM works?

He is correct. I did not get a LE till the disclosure were added to my webportal. It was within 24 hours from when I applied though. This was last week.
Reply
Joined Jun 2013
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MeSandy
07-30-2020 at 07:07 PM.
07-30-2020 at 07:07 PM.
Quote from nicemann :
He is correct. I did not get a LE till the disclosure were added to my webportal. It was within 24 hours from when I applied though. This was last week.
Thanks for your feedback. It helps a lot.

I will see how it goes with them?
Reply
Joined Aug 2006
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> bubble2 499 Posts
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vfx
07-30-2020 at 07:08 PM.
07-30-2020 at 07:08 PM.
Quote from MeAPhool :
vfx & Joanneitaly

How long after the email with rates did you get an official LE? I thought they would send to me immediately when I responded but I never got another response.

A week after I applied on their portal. Someone mentioned to cc [email protected], then Samatha responded and she copied someone else too. I gotta give prop to her. Can't imagine the volume she'd receive, but she was being a good sport and always ended her reply with some smiley emoji. Anyway, I was being courteous at the same time relentless too. If there was a day or two gaps with no response. I CC'd hello loan cabin again and returned her with a slightly different type of emoji. JK. In all seriousness, I was being cordial and told her upfront. In the end, I was pleased. Long story short. LD couldn't match LE from LC. I'll start uploading docs tonight to proceed with LC. Might have wasted 3+ weeks with LD. Keep finger-crossed with LC. I notice on the LE from LC, another lender will be servicing my loan instead of LC.
Reply
Joined Dec 2013
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> bubble2 276 Posts
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tedzo
07-30-2020 at 07:13 PM.
07-30-2020 at 07:13 PM.
Quote from MeSandy :
OK, Thanks.

I locked with WM, 2.5%, 30 Years fixed, $27xx in Lender Credit.

But the Guy is saying Closing Cost will be around $35xx-4xxx. Also when i asked for LE, He is saying disclosure team will send it. He just said i am locking your rate.

Is this how WM works?
They (and I assume others) include govt tax/fees, prepaids, escrow (insurance, property tax in closing costs. All that included came to over 5k for me. However, I don't think any of those ,with the exception of govt tax and fees should count as closing costs.
Reply

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Joined Jun 2013
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> bubble2 1,411 Posts
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MeSandy
07-30-2020 at 07:19 PM.
07-30-2020 at 07:19 PM.
Quote from tedzo :
They (and I assume others) include govt tax/fees, prepaids, escrow (insurance, property tax in closing costs. All that included came to over 5k for me. However, I don't think any of those ,with the exception of govt tax and fees should count as closing costs.

$4xxx is D(=A + B + C) + E Only
Reply
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