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

5,053 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 Feb 2007
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> bubble2 100 Posts
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tim2357b
09-17-2020 at 01:16 PM.
09-17-2020 at 01:16 PM.
Quote from 7Guru7 :
Hey OP,

Thanks for the awesome post, was very helpful. Complete noob here, if I may ask, why do you serially-refinance? I understand refinancing when the rates go down. But, why would you refinance for a higher interest rate? I assume you either cash-out or perhaps you foresee selling the home sooner than your lower interest rate would break-even?

Thanks!
You have to decide if it's worth it to you.

This is a Pretty Calculator
https://better.com/content/no-cost-mortgage/

a simple calculator
https://www.mortgagecalculators.i...gincontent

complex mathSmilie
https://www.mtgprofessor.com/Calc...ators.html

Reply
Last edited by tim2357b September 17, 2020 at 01:20 PM.
Joined Feb 2007
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> bubble2 100 Posts
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tim2357b
09-17-2020 at 01:24 PM.
09-17-2020 at 01:24 PM.
In my case, I'm taking the 2.5, at a cost of not getting the extra lender credit, but It's worth it to me.

On the other hand, I'm passing up an offer at 2.375 par. The difference in the two, divided by the loan amount to calculate the point difference, and use that point number in the calculators to see if it makes sense.
Reply
Last edited by tim2357b September 17, 2020 at 01:44 PM.
Joined Mar 2014
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> bubble2 153 Posts
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MadeInAP
09-17-2020 at 01:24 PM.
09-17-2020 at 01:24 PM.
Quote from xman47 :
I've pretty much given up on Loan Cabin.

I applied 8/6 and didn't hear a word (despite numerous email inquiries) until 9/8. By that time I had already closed my 2.5%, 30-year with Ally/Better.

The email I received on 9/8 asked the same questions others have described in this thread. I responded immediately, but still have not heard anything. Six weeks from my application and not so much as a rate quote, much less a loan estimate.

I'm very happy with the loan I closed, so I don't expect to refi with LC at this point anyway, but I'm curious enough about their rates and strange business practices to continue corresponding with them.

Edit: I should add I have a high balance loan (not a jumbo) in CA at about 70% LTV, with 800+ credit scores and low DTI ratio.
You did the right thing. The only time you would go with LC is when you have all the time in the world, got an irresistible offer from LC and you want to delay your refinance as long as possible. It's highly risky to go with LC when the 'Adverse Market Refinance Fee' is staring at you. You can use LC to get the initial LE for others to match, even this option is risky too as the LE itself is taking months. I might consider LC if I'm trying to better my recent refinance.
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Joined Aug 2020
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> bubble2 29 Posts
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xman47
09-17-2020 at 01:30 PM.
09-17-2020 at 01:30 PM.
Quote from MadeInAP :
You did the right thing. The only time you would go with LC is when you have all the time in the world, got an irresistible offer from LC and you want to delay your refinance as long as possible. It's highly risky to go with LC when the 'Adverse Market Refinance Fee' is staring at you. You can use LC to get the initial LE for others to match, even this option is risky too as the LE itself is taking months. I might consider LC if I'm trying to better my recent refinance.

Yes, exactly this. If LC can improve upon the refi I just finished, great! But I'm not holding my breath. Even if I get an amazing loan estimate from LC, I'd probably just take it to Better and if they could beat it, apply again with them. I have no desire to wait out a three-month refi.
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Joined Jan 2020
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> bubble2 1,079 Posts
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Rocketmon
09-17-2020 at 01:44 PM.
09-17-2020 at 01:44 PM.
Hi. Need a title insurance reccoendation to give / use with Better. They just asked that I provide a provider .

Want to find one that I can get an online quote with. Radiant doesn't have quotes
Reply
Joined Oct 2008
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> bubble2 710 Posts
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weigojmi
09-17-2020 at 02:54 PM.
09-17-2020 at 02:54 PM.
Quote from Rocketmon :
Hi. Need a title insurance reccoendation to give / use with Better. They just asked that I provide a provider .

Want to find one that I can get an online quote with. Radiant doesn't have quotes
Call Radian. They will get your info and likely send you a quote same day.
Reply
Joined Feb 2007
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> bubble2 100 Posts
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tim2357b
09-17-2020 at 02:59 PM.
09-17-2020 at 02:59 PM.
Quote from Rocketmon :
Hi. Need a title insurance reccoendation to give / use with Better. They just asked that I provide a provider .

Want to find one that I can get an online quote with. Radiant doesn't have quotes
in March better used:
Radian Settlement Services
1000 GSK Drive Ste 210 Coraopolis, PA
15108
Phone: 412-494-0400

Now they selected:
Title365 Company
345 Rouser Rd, Suite 101 Coraopolis, PA
15108
Phone: 412-329-4406

I was having trouble reaching them, but tried either 412-329-4406 or 855-286-1576 also and ended up being transferred to the Better department. But they said they do not work with other lenders so I did not get a quote.

They are showing $975 on my LE, vs LD had $940 listed for closing usa (only works with LD), vs my own titleforward.com online quote of $1288.
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Joined Jan 2020
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Rocketmon
09-17-2020 at 03:00 PM.
09-17-2020 at 03:00 PM.
Quote from weigojmi :
Call Radian. They will get your info and likely send you a quote same day.
Better said they will contact Radian and go with them. Easy enough.
Reply
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weigojmi
09-17-2020 at 03:06 PM.
09-17-2020 at 03:06 PM.
Quote from Rocketmon :
Better said they will contact Radian and go with them. Easy enough.
Interesting. They just gave me a credit so they can stay with their current company.
Reply
Joined Aug 2020
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> bubble2 17 Posts
TNDN
09-17-2020 at 03:15 PM.
09-17-2020 at 03:15 PM.
I've been working with my loan officer with better. They updated my loan estimate several times in the last 2 days.

I have extra lender credit. About $2400.
The cash to borrower is $1300. Then they applied $1100 for a loan reduction.

If $2,000 is the maximum. Can I ask them to give me $700 back? And then just raise/increase the loan amount by $700?
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presto987
09-17-2020 at 03:18 PM.
09-17-2020 at 03:18 PM.
Quote from weigojmi :
Interesting. They just gave me a credit so they can stay with their current company.
Yes, both are good options. You can ask them to price match another title company like Radian, in which case you will get additional lender credit. Or you can ask them to actually use Radian. Either way, you will pay the same.

If the title search is already in progress, then you may want to use Better's company and take the credit so that you don't slow down the process. The loan processor will probably encourage you to do this, but they can't force you to use a specific title company. So if you ask to use a company of your choice, then they will let you.

If you are already bumping up against the maximum lender credits ($4999), then it is possible that you won't be able to get the full benefit of the price match, in which case you may want to actually switch the title company to Radian.

A few people have asked about reissue rates. I am certainly not an expert, but I asked a title company in CA about this. She said that there are short form title policies and long form title policies. Typically in refinance transactions, the lender is OK with the short form policy. I believe the reissue rate would apply if you were looking at a long form policy, but the short form policy is already discounted, so title insurers don't offer reissue rates on those. Note: I do not know if this is how things work outside of CA.
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Joined Apr 2007
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> bubble2 341 Posts
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presto987
09-17-2020 at 03:19 PM.
09-17-2020 at 03:19 PM.
Quote from TNDN :
I've been working with my loan officer with better. They updated my loan estimate several times in the last 2 days.

I have extra lender credit. About $2400.
The cash to borrower is $1300. Then they applied $1100 for a loan reduction.

If $2,000 is the maximum. Can I ask them to give me $700 back? And then just raise/increase the loan amount by $700?
Yes, this should be possible, except they won't want to go all the way to $2000 in case there are any last minute changes that cause the cash to borrower to increase. They will probably be comfortable adjusting it so that you get a total of $1900 back. This leaves $100 of wiggle room in case anything changes.
Reply
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pogchamp
09-17-2020 at 03:20 PM.
09-17-2020 at 03:20 PM.
Quote from weigojmi :
Interesting. They just gave me a credit so they can stay with their current company.

Same - maybe because they already sent my details off to their title company when I asked? It was like two days in process before I mentioned another title company/quote. It says "Better Settlement Services" on my loan estimate. The price was comparable to LDs title estimate
Reply
Joined Aug 2020
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> bubble2 17 Posts
TNDN
09-17-2020 at 03:28 PM.
09-17-2020 at 03:28 PM.
Quote from presto987 :
Yes, this should be possible, except they won't want to go all the way to $2000 in case there are any last minute changes that cause the cash to borrower to increase. They will probably be comfortable adjusting it so that you get a total of $1900 back. This leaves $100 of wiggle room in case anything changes.
Stupid question: how do I ask?
Is it as simple as raise my lender credit to $1900 and raise my loan amount by $600?
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Joined Jul 2006
Call me Mr. Deals
> bubble2 5,053 Posts
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shahhere
09-17-2020 at 03:40 PM.
09-17-2020 at 03:40 PM.
Quote from Rocketmon :
Hi. Need a title insurance reccoendation to give / use with Better. They just asked that I provide a provider .

Want to find one that I can get an online quote with. Radiant doesn't have quotes
Quote from weigojmi :
Call Radian. They will get your info and likely send you a quote same day.
Quote from tim2357b :
in March better used:
Radian Settlement Services
1000 GSK Drive Ste 210 Coraopolis, PA
15108
Phone: 412-494-0400

Now they selected:
Title365 Company
345 Rouser Rd, Suite 101 Coraopolis, PA
15108
Phone: 412-329-4406

I was having trouble reaching them, but tried either 412-329-4406 or 855-286-1576 also and ended up being transferred to the Better department. But they said they do not work with other lenders so I did not get a quote.

They are showing $975 on my LE, vs LD had $940 listed for closing usa (only works with LD), vs my own titleforward.com online quote of $1288.
Quote from Rocketmon :
Better said they will contact Radian and go with them. Easy enough.
Quote from weigojmi :
Interesting. They just gave me a credit so they can stay with their current company.
Quote from presto987 :
Yes, both are good options. You can ask them to price match another title company like Radian, in which case you will get additional lender credit. Or you can ask them to actually use Radian. Either way, you will pay the same.

If the title search is already in progress, then you may want to use Better's company and take the credit so that you don't slow down the process. The loan processor will probably encourage you to do this, but they can't force you to use a specific title company. So if you ask to use a company of your choice, then they will let you.

If you are already bumping up against the maximum lender credits ($4999), then it is possible that you won't be able to get the full benefit of the price match, in which case you may want to actually switch the title company to Radian.

A few people have asked about reissue rates. I am certainly not an expert, but I asked a title company in CA about this. She said that there are short form title policies and long form title policies. Typically in refinance transactions, the lender is OK with the short form policy. I believe the reissue rate would apply if you were looking at a long form policy, but the short form policy is already discounted, so title insurers don't offer reissue rates on those. Note: I do not know if this is how things work outside of CA.

Radian: I spoke to Radian at length last week and with the issues I had and not having a point of contact and what not they have agreed to have one of their VPs be a single point of contact for anyone I refer back to them to help navigate the Title items. If you run into issues or have questions that aren't being answered let me know and I'll pass the contact information to whomever needs it here.


Shahhere
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