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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

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 Jul 2006
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shahhere
09-23-2020 at 09:20 AM.
09-23-2020 at 09:20 AM.
Quote from Johny707 :
With all of these August/Sept LC lock date loans and them most likely being 90 day closing times....they will not meet the Dec 1st G fee deadline. So I am assuming LC is going to take a pretty big hit yah?

Thats why I think their pricing has increased to already include the fee because its not when they close its when the sell it back btw; which isn't right after you close as it takes days/weeks.



Shahhere
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Joined Dec 2007
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ElPipo
09-23-2020 at 09:22 AM.
09-23-2020 at 09:22 AM.
Quote from k1ngkev1n1 :
Try Dave with bay shore mortgage. He's on this forum helping people out.

I emailed him this morning and he responded immediately. Unfortunately, his company does not do business in my state, Illinois.
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Joined Sep 2020
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JAC702
09-23-2020 at 09:30 AM.
09-23-2020 at 09:30 AM.
What's Daves turn around times to close...45-60 days?
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Joined Aug 2010
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aaba78
09-23-2020 at 09:56 AM.
09-23-2020 at 09:56 AM.
If my A+B+C = $2329 and my lender credit is $2041 am I in essence paying $288 OOP to refinance or do I have to add E as my costs as well?
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Joined Apr 2004
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BMWZ8Bond
09-23-2020 at 10:05 AM.
09-23-2020 at 10:05 AM.
Quote from aaba78 :
If my A+B+C = $2329 and my lender credit is $2041 am I in essence paying $288 OOP to refinance or do I have to add E as my costs as well?
Add E to get your OOP costs. Most think of 'no cost' to be A+B+C, but some will get lender credits big enough to cover E as well.
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aaba78
09-23-2020 at 10:28 AM.
09-23-2020 at 10:28 AM.
Quote from BMWZ8Bond :
Add E to get your OOP costs. Most think of 'no cost' to be A+B+C, but some will get lender credits big enough to cover E as well.
so E is a separate costs that should be added? i was confused because its said Taxes and Other Govt Fees and I thought these were fixed costs you cant get out of similar to taxes and insurance.. that should not be added as a true cost

Other Costs
E. Taxes and Other Government Fees$1234

Recording Fees and Other Taxes$227
Transfer Taxes$1,007

if I add E then im paying $1522 to refi..is that go or no?
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I like free stuff.
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ghounds07
09-23-2020 at 10:30 AM.
09-23-2020 at 10:30 AM.
Quote from shahhere :
Credit Received for Refi1:

  • 08/08/2020 - Signed 8/8/2020
  • 08/14/2020 - Funded/Wired
  • 09/22/2020 - Credit showed up on the card yesterday
  • 09/04/2020 - Backdated which looks to be the start of my current statement cycle.

So almost 2 weeks from the time of close...so weird that others are on the other end of the spectrum and are still waiting 8+ weeks out.

Other events:
  • Got the original email for the offer earlier in the year (in fact had 2 emails with the offer).
  • When I applied I think I signed up for the offer without the link and so on the 3rd day in speaking with the loan officer he had to "transfer" to the Amex team that took an additional day.
  • Throughout the process there were references to the offer in conversation with the LO so wasn't too worried but did not have the final task to add Amex numbers and had to ask the closing expert to add it which then got done manually.
  • After close received the email congratulating me about the offer from Better LO and that 8-12 week time-frame was noted.
  • Post Consummation CD email (CyclonFW noted about this earlier) was received on 9/15/2020.
Shahhere
Just curious, how much are you benefiting from each Refi? Seems like a lot of work, but I guess if you're gaining $4k in value for each one it's not so bad!

I've received 5 LEs in Minnesota, going to lock with LenderFi today as they were the best by a very wide margin.
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BMWZ8Bond
09-23-2020 at 10:34 AM.
09-23-2020 at 10:34 AM.
Quote from aaba78 :
so E is a separate costs that should be added? i was confused because its said Taxes and Other Govt Fees and I thought these were fixed costs you cant get out of similar to taxes and insurance.. that should not be added as a true cost

Other Costs
E. Taxes and Other Government Fees$1234

Recording Fees and Other Taxes$227
Transfer Taxes$1,007

if I add E then im paying $1522 to refi..is that go or no?
They are fixed costs, and not tied to the loan, but are tied to the fact you are refinancing.

People exclude F/G because whether or not you refinance, you will incur those costs on your current loan (F/G are just timing of when taxes/interest/insurance, etc get paid).

$1,522 is high for me, but I don't have experience with E being so large (obviously varies by state/city) - for me it's $124 so easier to ignore if a lender doesn't provide a credit towards it.

If the rate is good, paying $288 for ABC and then $1234 on E is probably fine. But if you think you'll turn around and refi an a little bit to get a better rate, then shop now.
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urth_ling
09-23-2020 at 10:52 AM.
09-23-2020 at 10:52 AM.
Currently hunting for a new ReFi from my current 3% 30 Year in California.

Applied to California lenders, and heard back from four so far.

$465K loan (no cash out), 42% LTV, 800+ score

Ally - Way too high but willing to see if they can match
LoanDepot - 2.875%, $2500+ closing costs
Owning - 2.375%, $4650 closing costs
IM - 2.375%, no closing costs

Looks like IM is the best choice so far, but need to have them do a hard pull for an official LE.
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rk191
09-23-2020 at 10:57 AM.
09-23-2020 at 10:57 AM.
Quote from kr191 :
Thanks Shahhere let me know after he gets NC lic...timelines may work
Amrock works with LD..but the prices are high.seems like they have negotiated low prices with lenders
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shahhere
09-23-2020 at 12:02 PM.
09-23-2020 at 12:02 PM.
WOW, anyone get this email after close this week from Better; below is the excerpt from the email:


As you may know, the Federal Housing Finance Agency recently introduced a surprise 0.5% fee on mortgage refinances which was applied to your total loan amount.* Due in large part to pushback from industry leaders like us, the FHFA has postponed the fee until December 2020.

Because the fee is no longer applicable to your pending loan with Better Mortgage, we'll be sending you a $1,xxx.00 refund — 0.5% of your total loan amount after your loan funds. You can expect to receive a check by mail within 10-14 business days to the mailing address we have on file.



Shahhere
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sids911
09-23-2020 at 12:04 PM.
09-23-2020 at 12:04 PM.
Have a question for those who closed refi with owning.com - did you get a portal login or something where your case files are all consolidated and shows the status of your case? I dont believe I even have a login and they are currently "processing" my refi since last week.
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seiromem
09-23-2020 at 12:09 PM.
09-23-2020 at 12:09 PM.
Quote from ElPipo :
I emailed him this morning and he responded immediately. Unfortunately, his company does not do business in my state, Illinois.
I emailed in a few days ago and not a peep. Also applied online over a week ago, nothing.
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mamakat
09-23-2020 at 12:11 PM.
09-23-2020 at 12:11 PM.
Quote from Johny707 :
can you click on the little bell icon and see what it shows? Its the 5th icon down, on the left hand side of page. Should be some updates on progress there.

Hi johny thanks for your question. All it shows me when I click on the little bell icon (for notifications) - is one line that says Application Received 7-27-20 Frown

If this falls to go through does anyone know if I can use the appraisal elsewhere? I had to pay about $500 for it.

I'm freaking out a little because no one even told me about the appraisal besides the appraiser when called to schedule it. is there a possibility I was scammed by a fake appraiser? ugghh
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Last edited by mamakat September 23, 2020 at 12:15 PM.

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presto987
09-23-2020 at 12:27 PM.
09-23-2020 at 12:27 PM.
Quote from urth_ling :
Currently hunting for a new ReFi from my current 3% 30 Year in California.

Applied to California lenders, and heard back from four so far.

$465K loan (no cash out), 42% LTV, 800+ score

Ally - Way too high but willing to see if they can match
LoanDepot - 2.875%, $2500+ closing costs
Owning - 2.375%, $4650 closing costs
IM - 2.375%, no closing costs

Looks like IM is the best choice so far, but need to have them do a hard pull for an official LE.
If you are planning to be in the house for a while, I would take that IM offer and run. You are not going to do better than no-cost 2.375% right now.

The only reason not to take that is if you want to go up in rate in order to get a net credit. You could try asking Ally or Better to match IM once you have the LE, and then seeing if you can go up in rate. But neither Ally nor Better was willing to match my 2.375% LE from IM.
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