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

5,049 1,724 July 4, 2020 at 01:27 PM in Free Shipping (6)
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Last Edited by shahhere July 26, 2021 at 06:35 AM
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Details on how to understand the Mortgage basics and information that I understand for your learning can be accessed on this post (Click this hyperlink to go to the post); If you are new to this process and have questions this is a Must Read before asking question on the forum!


Reviving my over a decade old thread from SD and FW as the rates have gotten competitive. This thread is a SD community thread to compare and post best rates received along with their lender experience for a quick compare and estimation from a starting point.


Please note that rates will vary on quite a few factors and just because one person has a rate will not guarantee you will receive the same rate but simply use this as a guide and negotiation tactic.

All below rates are based on assumptions of certain LTV, DTI, & Excellent Credit Scores:

30 Year Fixed best rates (Assuming Good Credit & 20% down, low LTV, low DTI, etc etc):
All listed lenders are here because I shopped them and have encountered competitive pricing and not because I get any sort of a kickback....use this as a gauge for the latest but note that things can change week to week, day to day and even hour to hour:

07/14/2021 2.875% Better.com- Will consider Lender Match to beat Competitors and combine with Amex cashback (Click here for additional Forum thread details). Amex's "Digital Assist" Team @ 800-297-7500

07/14/2021 2.875% LoanDepot.com - Is competitive but works better if you have another offer for them. My LO Luke Dean
[email protected] 949-652-4521

07/14/2021 BSMFunding (David Pressel) - Call to get the latest rates (no published online). Very competitive rates; get everything in writing via email!
https://bsmfunding.mymortgage-onl...essel.html
David Pressel (NMLS: 562175)- Branch Manager - Phone: 908-208-2036
[email protected]
07/14/2021 2.5% LoanCabin [loancabin.com] - Most Competitive but refinance times have grow to almost 6 months for many people so proceed with caution as recent reviews indicate normal 1 month closing. Generally do not charge for big Lender Fees (A+B on LE) as they are under $100 in most cases; esp if appraisal is waived for your scenario.

07/14/2021 3% LenderFi - Competitive but might be slow and not work on beating other lender rates.
30 Year Fixed Jumbo Best Rates (Assuming Good Credit & 20% down):
TBD
15 year Fixed:
07/14/2021 2.0 % Better.com; matches Bankrate rates for themselves.
07/04/2020 2.5% NIH Credit Union with Lender Credit
Title Company Comparisions:
RadianTitleDirect.com - OP has used them for almost a decade with getting best rates (closed after Covid, Lender must submit order as consumer side is closed).
ALTTitle.com
https://www.valerotitle.com/ - Texas only.
Alphabetical list of other lenders (some could be non-proven without direct member experiences posted here):
  1. AimLoan - Will provide LE without hard pull if credit is frozen https://www.aimloan.com/
  2. Amerisave - will give you scores from all 3 bureaus with just a soft pull https://www.amerisave.com/
  3. Better.com https://better.com/
  4. BoxHomeLoans https://www.boxhomeloans.com/
  5. Close Your Own Loan https://www.closeyourownloan.com/...sults.aspx
  6. Colonial Mort http://www.colonialmort.com/
  7. HighTechLending http://www.hightechlending.co/Default.aspx
  8. Interactive Mortgage https://interactivemortgage.com/ Eric from IM is super rude so good luck dealing with this guy!
  9. LenderFi https://www.lenderfi.com [lenderfi.com]if the link wont work try this backend link: https://app.lenderfi.com/app/sign...r/lenderfi
  10. Loan Cabin https://www.loancabin.com/
  11. Loan Depot https://www.loandepot.com/
  12. LoanLock https://www.loanlock.com/
  13. NavyFederal CU https://www.navyfederal.org/
  14. NIH credit union (Delware, District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia, West Virginia) https://www.nihfcu.org/
  15. Northpointe Bank https://www.northpointe.com/
  16. Owning.com (Operates only in CA) https://owning.com/
  17. Pentagon Federal CU https://www.penfed.org/
  18. Provident Funding - will give LE without locking rate https://www.provident.com/
  19. RatePlus (California) https://www.rateplus.com/
  20. Travis Credit Union (12 North Cal Counties only) https://www.traviscu.org/ Eligibility traviscu.org
  21. United wholesale mortgages https://www.uwm.com/
  22. Watermark Home Loans https://www.watermarkhomeloans.com/
  23. West Coast Mortgage Associates (The loan broker is in So.Cal. Debbie Morgan) https://wcmtg.com/


Shahhere

Old Thread - https://slickdeals.net/e/1223863-03-06-2009-best-mortgage-rates-from-big-reputable-lenders-30year-5-15year-5-arm-s-etc
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Community Wiki

Last Edited by RiversofWisdom August 18, 2021 at 03:12 PM
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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 Apr 2007
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> bubble2 341 Posts
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presto987
09-25-2020 at 01:14 PM.
09-25-2020 at 01:14 PM.
Quote from thedesi :
I have never shopped for Title. Do you mind telling me howd I go about having a conversation with Radian? Meaning what should I ask for and do I send that to lender or lender reaches to Radian directly. Any color is helpful. Thanks
Email Radian at [email protected] with your address, loan amount, and name of lender (Better). Then they will send you a PDF quote. You can then send this to Better and either ask them to price-match Radian or ask them to use Radian. Price-matching is generally easier but there are circumstances when you might want them to use Radian.
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Joined Jun 2011
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rebates
09-25-2020 at 01:16 PM.
09-25-2020 at 01:16 PM.
Been reading thru many of the valuable info in this thread. Thanks to all the contributors,
I finally applied to Better, Ally and LC for now. Came to know Ally and Better are processed through the same division. No response from LC yet. Better LO told me they won't do any price match with Ally LE. Ally matched a local Lender and gave me the 30yr 2.625% with a lender credit of 3100 and 20yr 2.625% with a lender credit of 4500. Their cost ( A+B+C) = 3100, which include an origination fee of 995, no appraisal waiver. Loan amount of 330K 74 %LTV.

What do you guys think ? Should I wait for LC LE to take it back to Better or Ally.
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Joined Jan 2016
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maari
09-25-2020 at 01:26 PM.
09-25-2020 at 01:26 PM.
Quote from jrl :
Looks like you have to come up with closing costs though.
Looks like 1% point at closing, read Rate Information details.

Also you are right, "On a refinance, equity of 40%, based on appraised value, may be required. We assumed (unless otherwise noted) that closing costs are paid out of pocket, this is your primary single family residence, your debt to income ratio is below 25%, and you have a credit score over 740."
Reply
Last edited by maari September 25, 2020 at 01:34 PM.
Joined Apr 2007
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> bubble2 341 Posts
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presto987
09-25-2020 at 01:31 PM.
09-25-2020 at 01:31 PM.
Quote from rebates :
Been reading thru many of the valuable info in this thread. Thanks to all the contributors,
I finally applied to Better, Ally and LC for now. Came to know Ally and Better are processed through the same division. No response from LC yet. Better LO told me they won't do any price match with Ally LE. Ally matched a local Lender and gave me the 30yr 2.625% with a lender credit of 3100 and 20yr 2.625% with a lender credit of 4500. Their cost ( A+B+C) = 3100, which include an origination fee of 995, no appraisal waiver. Loan amount of 330K 74 %LTV.

What do you guys think ? Should I wait for LC LE to take it back to Better or Ally.
LC would most likely take a while to get back to you. You could try locking with Ally, and then if LC gets back to you before you close, see if they can price-match LC.

Even though Ally and Better are on the same platform, I am not sure whether Ally price matches after locking. I know that people have been able to get Better to do it.
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pikappstrmchase
09-25-2020 at 01:53 PM.
09-25-2020 at 01:53 PM.
This thread is the main reason. At the time I was getting ready to lock with our credit union at 2.875 w/fees. But then I thought, I wonder if slickdeals has any mortgage threads - boy was that a great financial decision!

I obtained LEs from a handful of lenders. LC was the lowest. A few refused to match, but most did match. The fees (mainly B+C) were lowest with Better, especially when they waived the appraisal. Before the 0.5% refund, the loan costs were about $300. The 0.5% fee was not listed anywhere on the LE or CD. It must have been padded in the overall loan cost/points/rate.

Two other things I learned for AFTER locking a rate 1.) you can continue to accept LEs from other LOs (price match if deal is better - but don't over do it) 2.) check and see if increasing your rate will provide better credits (shorter lock period may help, too).

Quote from thedesi :
Wow... net 1.2k in credits at 2.5% that amazing. How did you pull that off?
I locked a 15yr, 2.25 with approx 1,500 out of pocket. I feel bad for me now
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Joined May 2010
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> bubble2 632 Posts
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thedesi
09-25-2020 at 02:11 PM.
09-25-2020 at 02:11 PM.
Quote from presto987 :
Email Radian at [email protected] with your address, loan amount, and name of lender (Better). Then they will send you a PDF quote. You can then send this to Better and either ask them to price-match Radian or ask them to use Radian. Price-matching is generally easier but there are circumstances when you might want them to use Radian.
thanks!... dropped them an email. appreciate it
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thedesi
09-25-2020 at 02:13 PM.
09-25-2020 at 02:13 PM.
Quote from pikappstrmchase :
This thread is the main reason. At the time I was getting ready to lock with our credit union at 2.875 w/fees. But then I thought, I wonder if slickdeals has any mortgage threads - boy was that a great financial decision!

I obtained LEs from a handful of lenders. LC was the lowest. A few refused to match, but most did match. The fees (mainly B+C) were lowest with Better, especially when they waived the appraisal. Before the 0.5% refund, the loan costs were about $300. The 0.5% fee was not listed anywhere on the LE or CD. It must have been padded in the overall loan cost/points/rate.

Two other things I learned for AFTER locking a rate 1.) you can continue to accept LEs from other LOs (price match if deal is better - but don't over do it) 2.) check and see if increasing your rate will provide better credits (shorter lock period may help, too).
Are you saying you can continue to get LEs from diff LO's at same lender, say Better.com?
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Joined Dec 2007
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pikappstrmchase
09-25-2020 at 02:31 PM.
09-25-2020 at 02:31 PM.
Quote from thedesi :
Are you saying you can continue to get LEs from diff LO's at same lender, say Better.com?
Some LOs may still match LEs from other lenders even after you've locked with them, at least until or near underwriting.
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scorpioneyes
09-25-2020 at 02:43 PM.
09-25-2020 at 02:43 PM.
Quote from jrl :
Looks like you have to come up with closing costs though.
Yes closing costs/title are paid by the lender if you qualify for the 2.375, but paid by the borrower if other rates/scenarios are used such as having a 2nd mortgage. the guy wouldn't give me any kind of indication what the higher rates or fees are. i think my guy was just lazy - wanting to see of any other SD members have better experiences with them
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rebates
09-25-2020 at 02:59 PM.
09-25-2020 at 02:59 PM.
Quote from pikappstrmchase :
Closed with Better a few weeks ago... had an all around great experience.

Got an email from my LO a few days ago indicating we would be receiving a refund for the 0.5% FHFA fee that has since been delayed. I was not expecting this at all and I am kind of speechless.

Updated numbers; 2.5% 30y 290K 65% LTV with a net of 1.2K in credits!
Very good deal. Will you get Amex credit on top of this. Then its awesome.
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Joined Jun 2011
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rebates
09-25-2020 at 03:46 PM.
09-25-2020 at 03:46 PM.
Quote from presto987 :
LC would most likely take a while to get back to you. You could try locking with Ally, and then if LC gets back to you before you close, see if they can price-match LC.

Even though Ally and Better are on the same platform, I am not sure whether Ally price matches after locking. I know that people have been able to get Better to do it.

Thanks, good point. I might go that route. I will send an email to LO asking some more specific questions.
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maari
09-25-2020 at 04:02 PM.
09-25-2020 at 04:02 PM.
Do we as borrowers have right to know if FHFA fee was applied/baked into to a refinance mortgage ? How do we know if that has been taken into account for pricing or rate ? Has anyone had success with inquiring this with lender ?

It looks like Better.com is the only lender I have heard of who is returning the fee. Good to know there are still honest lenders out there.
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Last edited by maari September 25, 2020 at 04:05 PM.
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yapagaldil
09-25-2020 at 05:40 PM.
09-25-2020 at 05:40 PM.
Quote from scorpioneyes :
Yes closing costs/title are paid by the lender if you qualify for the 2.375, but paid by the borrower if other rates/scenarios are used such as having a 2nd mortgage. the guy wouldn't give me any kind of indication what the higher rates or fees are. i think my guy was just lazy - wanting to see of any other SD members have better experiences with them
i tried getting some info from them but they won't tell you. They called a lot before i spoke to someone. Their setup seems to feel like loan-depot.

If you got any numbers out of them please share. I haven't seen anyone else talking about them on this forum.

Thanks
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sdmlog
09-25-2020 at 06:31 PM.
09-25-2020 at 06:31 PM.
Quote from thedesi :
thanks!... dropped them an email. appreciate it
check these if they offer in your state:
https://www.firstam.com/title/res...lator.html
https://www.oldrepublictitle.com/rate-calculator
https://www.stewart.com/en/pages/...quote.html

NY only: https://onetitle.com/calculator/

Google title company in your local area.
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Joined Nov 2016
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sd72986
09-25-2020 at 08:11 PM.
09-25-2020 at 08:11 PM.
Quote from pikappstrmchase :
Some LOs may still match LEs from other lenders even after you've locked with them, at least until or near underwriting.
Curious about the "until or near underwriting." Any reason they wouldn't match it after underwriting? Thx!
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