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

5,051 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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jimmyrules712
08-14-2020 at 05:42 AM.
08-14-2020 at 05:42 AM.
Quote from Zwitterion :
Per this Fannie Mae guidance, my understanding is that if an appraisal was done and uploaded to their system within 120 days prior, an appraisal waiver will *not* be granted. See Item Q4.

My guess is that if a prior lender wanted/needed an appraisal, they assume it is a property which should get one.

https://singlefamily.fanniemae.co...al-waivers
Just saw that. In my case the previous appraisal was done in Feb for a purchase that closed in March. I would have thought I'd be past the 120 day requirement by now but I don't know when the last appraisal would have been uploaded into that system which appears to be what starts the clock. And it's still odd that in July LenderFI said I was eligible for a waiver but in August WM and LC said I was not eligible. Maybe the February appraisal didn't get uploaded until late July or early August?
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shahhere
08-14-2020 at 05:55 AM.
08-14-2020 at 05:55 AM.
I would encourage you all to call your lender if the Title is ordered and just sitting there without things moving or even the title company you have picked to get the full picture.

In my case there were weird title issues from Better's Side, Radian's Side as well as my decisions to change title ownership at last minute that caused all kinds of delays but if I had not made calls things wouldn't have gotten done even in the time that they did:

  1. I have 3 people on title with me and as such has caused issues in the past as most lenders want all 3 on the loan as well whereas I'd only tie up credit for who is needed. Better had assured me that its not an issue on their side to keep the same setup.
  2. 5 Days after title was sent to Better as shown on their portal I called as nothing had moved and the Processor said its not reviewed yet so I had asked him to move things along so 2 days later they confirmed that it was received and reviewed.
  3. The next day they said only 2 people are on title so I I said if its not an issue lets just keep it and move on but then the following day Better came back and said I have to be on title to which I was surprised as I own and am sure was on title from my Jan refi.
  4. Better also said that there is a lien on the property and that is causing delays.
  5. Called Radian Title right after that call and after a few transfers the person said they cannot pull PA's Child Support check as they dont have social from everyone. I gave them all 3 socials as that was creating the hold and Better was just sitting on that for some reason for days.
  6. 2 days after that I found out that Radian goofed up and only sent line 1 of the vesting and hence the 2 names were sent but not mine (3rd). I had them rectify that again on a call and send it asap.
  7. While on the call I made the decision to drop the 3rd name and only keep my and 1 more name as this is bound to come up over and over again. This required new Deed to be signed and was told it would be done in 24hours but took almost 4ish days and that too because I called on day 3 & 4 and basically told Radian I am missing my lock date due to this delay along with the above vesting issue.
  8. Again the 4PM day that Radian sent this information I called and made sure that Better moved my loan to the Closing team. It did not happen until the the next day and the Closing expert I was assigned was then displaced due to Isias....
My loan is still stuck and will hopefully fund/wire today to the old lender as Better forgot to notify Radian that I have a HOA. There was a task to me to upload a statement for the HOA 3 weeks back and is now not in the portal yesterday so again called the Closing Expert and had him create a new one and uploaded the documents again along with the Rider signed and scanned asap. This did move the loan to funding (wire possibly today) and worked with Radian to have me sent an Overnight label to drop off the original signed documents to them so they will receive it today.


Yes, it sounds like a lot of work but as said you have to stay on top of the various people and make the necessary calls as I target 2 times in a day to call people as needed else things get missed and slip the dates.

If I hadn't stayed on top of Better then they would have sat on the Original TItle issue without knowing what to do.....


Shahhere
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shahhere
08-14-2020 at 05:58 AM.
08-14-2020 at 05:58 AM.
BTW, i have another weird issue that I noticed but went ahead with the signed documents:


Better collected 4 sets of escrows compared to my current lender collecting only 2.
1 - School Tax - This is correct.

2 - Local Tax - This is correct
3 - HO Insurance - I did not escrow this before but let them add it as they asked.

4 - County Tax - No such thing but looks to be a duplicated of #2.


This nets my monthly payments to be higher and Better is saying that I can correct this after its setup with TMS. Should I wait until then or any other options about this in anyone's experience?


Shahhere
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Joined Apr 2010
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> bubble2 591 Posts
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smmmm
08-14-2020 at 06:07 AM.
08-14-2020 at 06:07 AM.
I'm sure this question has been asked and answered. I locked with Better yesterday, but I'm holding out hope for LoanCabin to reach out and give me a LE. Has anyone locked with one Lender but decided to go to another before closing? The only thing I see is that if I cancel with Better I have to wait 30 days to retry again with Better.

TIA Smilie
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nicemann
08-14-2020 at 06:32 AM.
08-14-2020 at 06:32 AM.
Quote from smmmm :
I'm sure this question has been asked and answered. I locked with Better yesterday, but I'm holding out hope for LoanCabin to reach out and give me a LE. Has anyone locked with one Lender but decided to go to another before closing? The only thing I see is that if I cancel with Better I have to wait 30 days to retry again with Better.

TIA Smilie
It happens all the time. You can lock with as many lenders as you want. You can get all the way to closing if you want and do all the work with all the lenders. Just make sure you only physically sign the actual loan documents in person with one lender. Peace
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nicemann
08-14-2020 at 06:34 AM.
08-14-2020 at 06:34 AM.
Quote from shahhere :
BTW, i have another weird issue that I noticed but went ahead with the signed documents:


Better collected 4 sets of escrows compared to my current lender collecting only 2.
1 - School Tax - This is correct.

2 - Local Tax - This is correct
3 - HO Insurance - I did not escrow this before but let them add it as they asked.

4 - County Tax - No such thing but looks to be a duplicated of #2.


This nets my monthly payments to be higher and Better is saying that I can correct this after its setup with TMS. Should I wait until then or any other options about this in anyone's experience?


Shahhere
I personally would not sign if they are trying to double my taxes in escrow. They can fix this now. You may have more problems trying to get this adjusted later. At least before the typically one year review.
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Joined Dec 2010
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nagraw4
08-14-2020 at 06:53 AM.
08-14-2020 at 06:53 AM.
I am really having a hard time trying to find a title company for Loan Cabin. I just closed with Better where Radian was the title company and they charged $1100 for title and settlement (all of Sec C). Loan Cabin on their locked LE quoted a little over $2000. They are saying you can shop around but I can't seem to get anywhere close to the Radian numbers. Best I am getting is about $1700.

Two questions:
If you are working with LC, who is your title company?
If you are in GA, what title company have you used (irrespective of the lender)?

Thanks!

Edit: Radian does not work with LC!
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Last edited by nagraw4 August 14, 2020 at 07:51 AM.

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Joined May 2006
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baronvdb
08-14-2020 at 07:15 AM.
08-14-2020 at 07:15 AM.
Are better rates available for a home categorized as "second home" or "investment property". I have one that could qualify as either.

What lender is offering the best rates on homes that are not "primary".

Thanks!
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shahhere
08-14-2020 at 07:20 AM.
08-14-2020 at 07:20 AM.
Quote from nicemann :
I personally would not sign if they are trying to double my taxes in escrow. They can fix this now. You may have more problems trying to get this adjusted later. At least before the typically one year review.

I know and as I wanted to get things done and over the hump I closed and it funded now lol so will have to see what happens next.


My angle is to try to refi again in the next 3 or so weeks so lets see.


Shahhere
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Joined Jul 2018
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prs98
08-14-2020 at 07:31 AM.
08-14-2020 at 07:31 AM.
Quote from shahhere :
I know and as I wanted to get things done and over the hump I closed and it funded now lol so will have to see what happens next.


My angle is to try to refi again in the next 3 or so weeks so lets see.


Shahhere
can you lock in your rate with another lender, if you are ready to close with a lender in a week or is there a time frame that we have to wait after loan gets funded to lock rate on to another refi ?
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Joined Aug 2006
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> bubble2 76 Posts
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GooW00
08-14-2020 at 07:36 AM.
08-14-2020 at 07:36 AM.
Quote from nagraw4 :
I am really having a hard time trying to find a title company for Loan Cabin. I just closed with Better where Radian was the title company and they charged $1100 for title and settlement (all of Sec C). Loan Cabin on their locked LE quoted a little over $2000. They are saying you can shop around but I can't seem to get anywhere close to the Radian numbers. Best I am getting is about $1700.

Two questions:
If you are working with LC, who is your title company?
If you are in GA, what title company have you used (irrespective of the lender)?

Thanks!
Why not just use Radian again if you were satisfied with them and they're the cheapest you've found?
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Joined Dec 2010
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> bubble2 166 Posts
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nagraw4
08-14-2020 at 07:50 AM.
08-14-2020 at 07:50 AM.
Quote from GooW00 :
Why not just use Radian again if you were satisfied with them and they're the cheapest you've found?
Ah! I need to edit my post. Radian does not work with LC!
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MeAPhool
08-14-2020 at 08:11 AM.
08-14-2020 at 08:11 AM.
Quote from nagraw4 :
Ah! I need to edit my post. Radian does not work with LC!
nagraw - I think it might be difficult for you to match Radian's rates.

Radian might have a commercial agreement with Better (or some "corporate rate").
As in individual we won't have the scale to negotiate down some of the things like settlement cost etc. However Better as a lender, might be able to negotiate this down with their preferred title companies since they can provide scale.

The above is just my opinion and not necessarily reality.

Edited to add

Even in my search in NJ (where title is regulated), I saw a wide variety of quotes for title.
Some companies charged for everything while others did not.
For example, some title companies charged $100/hour for closing settlement done outside of their office (I guess for travel time).
Other companies said the cost was the same whether we closed at my home or in their office.

If you have, try using a local facebook community group or nextdoor. I'm sure everyone refinancing in your local region also wants the same low-cost reputable title company. I didn't try this, but you could always see if a title company can match another companies quote.
Reply
Last edited by MeAPhool August 14, 2020 at 08:25 AM.
Joined Mar 2008
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lmc387
08-14-2020 at 08:11 AM.
08-14-2020 at 08:11 AM.
Quote from shahhere :
I know and as I wanted to get things done and over the hump I closed and it funded now lol so will have to see what happens next.


My angle is to try to refi again in the next 3 or so weeks so lets see.


Shahhere
You should be able to ask TMS to re-calc escrow if you end up sticking with them. You made the right move as that's a lot easier than them issuing all the paperwork again.
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wangcho78
08-14-2020 at 08:21 AM.
08-14-2020 at 08:21 AM.
For people who got it processed through Water Mark Home Loans, how long did each process take? Mine is at 'Document upload and loan team review'. If you have any advice then please share. I want to make sure my loan gets processed on time.
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