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

5,048 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
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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 Dec 2010
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> bubble2 166 Posts
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nagraw4
08-07-2020 at 08:53 AM.
08-07-2020 at 08:53 AM.
Quote from shahhere :
So yea they said I am at max credit and only option is to roll in the costs......I could so will dwell on it for a few hours lol.


Shahhere
Think about it this way, you are borrowing now at what 2.75%, right? You are going to refi again after this close. Probably at 2.5% if not lower. If rates keep going down, which if you read the mortgage research out there they will most likely do, you can go to 2%. Now if you put the money in a savings account you will get about 1%. Question is can you find investment opportunities that will bridge the 1% to 1.5% gap.

Or another thing you can do is, if you have any other debt (auto loan, student loan etc) with rate higher than your primary mortgage you can pre-pay some of it when you get your current escrow back. That would keep your personal leverage unchanged.
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Joined Jun 2007
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> bubble2 3,123 Posts
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nicemann
08-07-2020 at 08:55 AM.
08-07-2020 at 08:55 AM.
Quote from HilariousNose335 :
Do i really have to include my ssn with my loan application with loan cabin? i KNOW i WILL AT SOME POINT. JUST NOT RIGHT OFF THE BAT. SEEMS RISKY.
I hate just throwing that number out to just anyone willy nilly.
Sorry you have to include it. It's part of applying for a loan. They at least give you an idea of the rate on their website before you apply of the rate. Most places do not do that.
Reply
Joined Aug 2020
New User
> bubble2 3 Posts
cai24
08-07-2020 at 08:59 AM.
08-07-2020 at 08:59 AM.
I am looking to refinance my mortgage, and I am so confused about whether I'm getting a good deal. For $175k, I was offered a rate of 2.5% (2.617% APR). Closing costs come to $2,332, which includes a lender credit of $858 and a waiver of the appraisal. My scores are 800+ on all three bureaus. I feel that I will be in the house for the next 15 years and probably would not refinance again (unless rates really dropped). I haven't seen many better options, but Loan Cabin is offering 2.25% (2.287% APR) with lender fees/points of $465. I've read some negative reviews on them, so I don't know if this is just a gimmick. I'm looking for a good rate and trying to make sure that I don't overpay. I would appreciate any tips, advice, suggestions, etc!
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Joined Dec 2010
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> bubble2 166 Posts
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nagraw4
08-07-2020 at 09:07 AM.
08-07-2020 at 09:07 AM.
Quote from cai24 :
I am looking to refinance my mortgage, and I am so confused about whether I'm getting a good deal. For $175k, I was offered a rate of 2.5% (2.617% APR). Closing costs come to $2,332, which includes a lender credit of $858 and a waiver of the appraisal. My scores are 800+ on all three bureaus. I feel that I will be in the house for the next 15 years and probably would not refinance again (unless rates really dropped). I haven't seen many better options, but Loan Cabin is offering 2.25% (2.287% APR) with lender fees/points of $465. I've read some negative reviews on them, so I don't know if this is just a gimmick. I'm looking for a good rate and trying to make sure that I don't overpay. I would appreciate any tips, advice, suggestions, etc!
Read the beginning of this thread. You need to be able understand different parts of a loan estimate.
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Joined Aug 2020
New User
> bubble2 3 Posts
cai24
08-07-2020 at 09:17 AM.
08-07-2020 at 09:17 AM.
Is LoanCabin still on a 3-4 day response time? I was going to apply there today. I noticed when I call the number and choose the refinance option, it routes to a person whose voicemail is full.
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Joined Jul 2018
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> bubble2 37 Posts
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HilariousNose335
08-07-2020 at 09:19 AM.
08-07-2020 at 09:19 AM.

Quote from nicemann :

Sorry you have to include it. It's part of applying for a loan. They at least give you an idea of the rate on their website before you apply of the rate. Most places do not do that.



Well I already sent in the initial online application with everything filled out except for my SSN. do you think I'm screwed or will they still to open the application and contact me.
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Joined Nov 2004
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MeAPhool
08-07-2020 at 09:32 AM.
08-07-2020 at 09:32 AM.
Consolidating my posts as I realized I post to much.


Quote from cai24 :
Is LoanCabin still on a 3-4 day response time? I was going to apply there today. I noticed when I call the number and choose the refinance option, it routes to a person whose voicemail is full.
Based on forum members, they are still behind (who knows how much, maybe 2 weeks?).
To give some reference, I applied on 7/24 and got notified by email on 7/30. ( only after reaching out to [email protected] as suggested by another member)

Today is 8/7 (I have e-signed my initial set of disclosures and locked my rate). I am waiting for the next steps (uploading w2, banking, etc - not even sure if it's required since I don't have to bring any $$$ to closing).

Actually I don't even know when closing is which I'm also waiting to find out.



Quote from HilariousNose335 :
Well I already sent in the initial online application with everything filled out except for my SSN. do you think I'm screwed or will they still to open the application and contact me.
Not screwed, but I definitely think it would slow your application down even further. Did you at least provide an estimate of your credit score? For the actual Loan Estimate they would get your consent to run your credit (at that time they would need your SSN). Since they'd have to call you to get that and I could see that being a bottleneck.


*cai24 & HilariousNose335* - I recommend that both of you email [email protected] on the 3rd business after you applied if you have not received any feedback. The law states lenders need to provide LE to you by the 3rd business day. Loan Cabin will miss that but I don't see any "recourse" described in the law. Just be patient.
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Joined Mar 2010
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> bubble2 226 Posts
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loto1
08-07-2020 at 10:24 AM.
08-07-2020 at 10:24 AM.
I started the refinance application process with WM last week, locked in rate, uploaded most of the docs, signed the e-disclosure etc. Status says "Document upload and loan team review".

Where am I at? Is it a stage that I can back out without penalties? Just got a response from LenderFi - after a long wait - a slightly better offer 2.25%/15yrs -> 2.125%/15yrs (both close to no cost). Wondering if it is worth going through a hassle that saves $30/month
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Joined Oct 2007
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> bubble2 18 Posts
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pet1
08-07-2020 at 10:33 AM.
08-07-2020 at 10:33 AM.
What is the best way to get estimate to lock it from LenderFi. They dont have an option to get the online estimate. I left a message to their 888#. Any other number or email can contact LenderFI for estimate and to lock it? Thanks in advance.
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Joined Nov 2004
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MeAPhool
08-07-2020 at 10:39 AM.
08-07-2020 at 10:39 AM.
Quote from loto1 :
I started the refinance application process with WM last week, locked in rate, uploaded most of the docs, signed the e-disclosure etc. Status says "Document upload and loan team review".

Where am I at? Is it a stage that I can back out without penalties? Just got a response from LenderFi - after a long wait - a slightly better offer 2.25%/15yrs -> 2.125%/15yrs (both close to no cost). Wondering if it is worth going through a hassle that saves $30/month
Bring that to WM and ask them to match. $30/month is 1 thing, look at the total interest over the course of the loan that you will save too.
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Joined Nov 2017
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> bubble2 900 Posts
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gk6740
08-07-2020 at 11:12 AM.
08-07-2020 at 11:12 AM.
Quote from HilariousNose335 :
i KNOW i WILL AT SOME POINT. JUST NOT RIGHT OFF THE BAT. SEEMS RISKY.
I think you will find that most of the folks here have given out their SSN to multiple lenders. And in some cases, also sent in their tax forms, and all other kinds of documents.

I see no risk in this process. If you are unwilling to give them your SSN and have them pull your credit, then refinance might not be for you.

Again - I see very very little risk.
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Joined Oct 2008
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> bubble2 952 Posts
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quizzer
08-07-2020 at 11:42 AM.
08-07-2020 at 11:42 AM.
Quote from gk6740 :
I think you will find that most of the folks here have given out their SSN to multiple lenders. And in some cases, also sent in their tax forms, and all other kinds of documents.

I see no risk in this process. If you are unwilling to give them your SSN and have them pull your credit, then refinance might not be for you.

Again - I see very very little risk.
Also if i understand correctly, applying to multiple lenders within 2 weeks or so will get consolidated into ONE credit pull eventually.

Am I right?
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Joined Aug 2006
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> bubble2 3,834 Posts
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niceperson77
08-07-2020 at 11:55 AM.
08-07-2020 at 11:55 AM.
Where to apply for SMALL refinance in NC? $62k on equity loan at 5.7%....looking for $62k-130k. 800+ credit scores and excellent DTI.

Looking to help out my dear ol parents.....

Best I'm finding is:

1. 2.875% on a 15 with $2800 fees rolled in (Mutual Omaha)
2. 3.5% 15 yr with no fees (local credit union)
3. 2.5% 30 yr with $4k fees rolled in (Mutual Omaha)

These rates seem to suck. They (I'm) ready to lock in NOW.

They have NEVER switched lenders before so this is huge for them!!!!
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Last edited by niceperson77 August 7, 2020 at 12:06 PM.
Joined Mar 2010
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> bubble2 651 Posts
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MurraytheDemonSkull
08-07-2020 at 01:14 PM.
08-07-2020 at 01:14 PM.
does loan cabin offer floating down after you locked with them?
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Joined Nov 2004
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MeAPhool
08-07-2020 at 02:17 PM.
08-07-2020 at 02:17 PM.
Quote from MurraytheDemonSkull :
does loan cabin offer floating down after you locked with them?
I just asked this question today. This is the answer I received:

Quote :
1 float down per transaction, when market conditions improve by 0.25% in yield when the lock occurred
Can anyone translate that for me?
Is it as simple as saying when rates drop by .25%? (i.e. I locked at 2.5 and they drop to 2.25)

Thanks.
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