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

5,048 1,724 July 4, 2020 at 01:27 PM in Free Shipping (6)
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Last Edited by shahhere July 26, 2021 at 06:35 AM
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Details on how to understand the Mortgage basics and information that I understand for your learning can be accessed on this post (Click this hyperlink to go to the post); If you are new to this process and have questions this is a Must Read before asking question on the forum!


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


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

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

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

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

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

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

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


Shahhere

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

Last Edited by RiversofWisdom August 18, 2021 at 03:12 PM
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.

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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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presto987
10-06-2020 at 05:09 PM.
10-06-2020 at 05:09 PM.
Quote from RageHarder :
Hi all!

I used Owning (owning.com) to refi back in Feb 2020 for a cash-out to repay a 2nd. The LO I worked with said I could refi again in 6 months with a straight rate-term for a better rate. Apparently they "changed their policy" and now you must wait 12 months to refi again with them.

My refi in Feb was great with Owning. Quick and a decent rate (3.75%) considering the cash out. I can't tell you how irritated I am with them now because of the policy change. I had another lender I could have used in Feb so I could get the rate-term refi now... Owning really does have the best rates and true no-closing costs I've ever seen. They're currently advertising 2.375%/2.474%.

I'm looking for a lender that can match Owning, or get close to that 2.5%APR mark with no-closing costs. Any recommendations? Thanks in advance!

SFR in CA
Loan Balance: 321,000
Approx Value: 485,000
Approx LTV: 66%
Credit: 800
Term: 30yr fixed

P.S. Any recommendations for Title would be great too! Thanks!
My recommendation is to check out LenderFi. They might be able to get you to 2.5% no cost. Of course you can also try Loan Cabin and Dave Pressel at Bayshore.

Owning no longer offers true no-closing cost loans. They did up until a month or two ago. Now the advertised rates all involve points.

Interactive Mortgage is doing true no-cost loans as low as 2.375% for 30-year and 1.99% for 15-year, but your loan size doesn't meet their minimum, and your LTV is a bit too high.

Rate Plus is another option in CA. They are advertising 2.625% at no cost.
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Joined Apr 2007
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presto987
10-06-2020 at 05:10 PM.
10-06-2020 at 05:10 PM.
Quote from slickdealerms1988 :
I m refinancing my Jumbo loan and seeing below costs, can I reduce these fees if I go with Radian?



C. Services You Can Shop For $1,484
Notary Fee $150
Title - Doc Prep Fee $14
Title - Escrow Fee $575
Title - Lenders Title Policy $745
Radian only works with certain lenders. You would have to contact them to find out if they work with your lender and to get a quote. That is the only way to get the answer to your question.
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Joined Jul 2006
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shahhere
10-06-2020 at 06:32 PM.
10-06-2020 at 06:32 PM.
Quote from presto987 :
Radian only works with certain lenders. You would have to contact them to find out if they work with your lender and to get a quote. That is the only way to get the answer to your question.

I wanted to point out that in my recent dealings I got a new quote for my refi4 and the rate was $600 more from Radian and they said that its based on the lender as they might not be doing ample business.....for $600 more I might line up other options especially for someone like me who repeats the refinance which should help them if anything.


Shahhere
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BMWZ8Bond
10-06-2020 at 06:59 PM.
10-06-2020 at 06:59 PM.
Quote from xxMarcWithaCxx :
We are trying to purchase a new home. Good credit and we keep being told by our agents that we should have local "well known" lenders that will help us get selected in the hot market "Seattle". I got one pre-auth at 3.0 for a 30 year fixed from Axia. We were also sent to a few others like a local Cailber agent. Wondering how others have handled similar situations. I know I can get some similar quotes when we go to lock down the mortgage but wondering if other have had luck with getting smaller organizations to match/compete.
Seems like the typical referral tie up you see between real estate agents and loan officers.

Some buyers start with the mortgage/bank side of things to see how much they can afford, so the LO refer them to an agent they know. In return, for those buyers that start with the real estate agent and then need mortgage help, the real estate agent sends them to the LO.

You only need one pre-auth to give to the sellers so they feel more confident you'll be able to qualify/close. In the meantime check through this thread for which lenders you should reach out to with the lowest rate/best lender credits so you're prepared.

As soon as you go under contract, reach out to those lenders. As a new buyer (vs refinance), you'll get preferential treatment because lenders all know that you have a clock ticking (vs the refinance people who have no such requirement).
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ElatedGame2273
10-06-2020 at 07:19 PM.
10-06-2020 at 07:19 PM.
before locking my rate with better.com they required I pay the appraisal fee by credit card in advance, and that they would refund it if an appraisal was not necessary. Since I knew my appraisal was going to get waived and since I thought I was going to use better.com I foolishly paid the fee. But since then I read this thread and got better loan offers.

Does anyone know if better.com would refund this fee easily if I stop the process with them? I don't want to stop it yet so I don't want to ask them.
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presto987
10-06-2020 at 08:03 PM.
10-06-2020 at 08:03 PM.
Quote from ElatedGame2273 :
before locking my rate with better.com they required I pay the appraisal fee by credit card in advance, and that they would refund it if an appraisal was not necessary. Since I knew my appraisal was going to get waived and since I thought I was going to use better.com I foolishly paid the fee. But since then I read this thread and got better loan offers.

Does anyone know if better.com would refund this fee easily if I stop the process with them? I don't want to stop it yet so I don't want to ask them.
Yes. I paid the fee and two weeks later I asked to withdraw my application. A couple of days after that, the Processing Expert sent me a screenshot of a refund receipt. It was all very easy.
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xxMarcWithaCxx
10-06-2020 at 10:20 PM.
10-06-2020 at 10:20 PM.
Quote from BMWZ8Bond :
Seems like the typical referral tie up you see between real estate agents and loan officers.

Some buyers start with the mortgage/bank side of things to see how much they can afford, so the LO refer them to an agent they know. In return, for those buyers that start with the real estate agent and then need mortgage help, the real estate agent sends them to the LO.

You only need one pre-auth to give to the sellers so they feel more confident you'll be able to qualify/close. In the meantime check through this thread for which lenders you should reach out to with the lowest rate/best lender credits so you're prepared.

As soon as you go under contract, reach out to those lenders. As a new buyer (vs refinance), you'll get preferential treatment because lenders all know that you have a clock ticking (vs the refinance people who have no such requirement).

Thanks for this. Does the fact that we want to go under 20% down change anything for lenders on this thread?
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xman47
10-06-2020 at 10:38 PM.
10-06-2020 at 10:38 PM.
Quote from ElatedGame2273 :
before locking my rate with better.com they required I pay the appraisal fee by credit card in advance, and that they would refund it if an appraisal was not necessary. Since I knew my appraisal was going to get waived and since I thought I was going to use better.com I foolishly paid the fee. But since then I read this thread and got better loan offers.

Does anyone know if better.com would refund this fee easily if I stop the process with them? I don't want to stop it yet so I don't want to ask them.

Why not take the other offers to better and see if they can beat them? Better is usually really great about beating competing offers and if they can then you'll get the offer you want without sacrificing the time you've already put in.
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sdpettytyrant
10-06-2020 at 11:32 PM.
10-06-2020 at 11:32 PM.
Refi 2 with Better funded. It was a bumpy ride because the title report had already been completed for refi 2 when refi 1 closed and funded. So Better cancelled a couple times a day before closing to get updated title reports and updated pay stubs. So if you're serial refing and the title report is already completed, expect delays to get an updated title report.
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weigojmi
10-07-2020 at 06:17 AM.
10-07-2020 at 06:17 AM.
Quote from soobaerodude :
I took my LC LE to Better and had them beat it. I was then able to close in 3 weeks
Quote from presto987 :
Yes. I paid the fee and two weeks later I asked to withdraw my application. A couple of days after that, the Processing Expert sent me a screenshot of a refund receipt. It was all very easy.
You should always get a refund if the appraisal has not yet been performed.
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Joined May 2012
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YuvrajSingh
10-07-2020 at 06:28 AM.
10-07-2020 at 06:28 AM.
Any suggestion on lenders I should talk to for refinancing primary property in Washington state ? I know LoanCabin & IM doesn't do WA state loans?
Looking for 15 year , 620K loan amount .What rates should I target ?
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senthilcoumar
10-07-2020 at 07:01 AM.
10-07-2020 at 07:01 AM.
Quote from tedzo :
Congressional Bank.
Quote from yapagaldil :
Virginia is really dry for good lenders, not sure why. Here's my list of preferred lenders. I prefer lenders which don't charge origination fee. I know multiple refinancing going through David as of right now. He does offer a decent deal with no origination fee.

-BSMFunding (David Pressel) - Dont have published rates but a few members have posted that his rates were just as good as LC so another reasonable option for people to use.https://bsmfunding.mymortgage-onl...essel.html
David Pressel (NMLS: 562175)- Branch Manager - Phone: 908-208-2036
[email protected]

-Lenderfi

-https://www.networkcapital.net

-Watermark Home Loans (They have origination fee so if others are not good then talk to them).

-Loandepot if they are willing to beat offers from other lenders.
Thanks for this list. Also thanks to tedzo for suggesting congressional bank. I just applied to all of these. In the meantime I got a quote (through costco) which is attached. Any comments on how good/bad this is?
Click image for larger version Name: quote1.jpg Views: 33 Size: 224.8 KB ID: 9440750
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Last edited by senthilcoumar October 7, 2020 at 07:19 AM.
Joined Mar 2014
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MadeInAP
10-07-2020 at 08:29 AM.
10-07-2020 at 08:29 AM.
Quote from senthilcoumar :
Thanks for this list. Also thanks to tedzo for suggesting congressional bank. I just applied to all of these. In the meantime I got a quote (through costco) which is attached. Any comments on how good/bad this is?
Attachment 9440750
Loan amount is more than the payoff amount in Costco quote. You are basically rolling in your closing costs into your loan amount.
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Joined Jul 2006
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shahhere
10-07-2020 at 08:36 AM.
10-07-2020 at 08:36 AM.
Quote from MadeInAP :
Loan amount is more than the payoff amount in Costco quote. You are basically rolling in your closing costs into your loan amount.

Dont think its a bad thing Smilie but yes good to know and point it out.


I have spoken to these guys before and if you are going through Costco they along with a laundry list of other lenders charge a flat $350 Org Fee if you are an Executive Member which isnt too too bad but should be noted in the cost as I dont see it in the provided document.


Costs at 2.625% - $350 + $31 + $10 + Title and if you have +Appraisal.


Thats not a bad rate in recent days but I'd be curious how much credit they'd give you at 2.75% to get as close to a No Cost loan.


Shahhere
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BMWZ8Bond
10-07-2020 at 09:01 AM.
10-07-2020 at 09:01 AM.
Quote from xxMarcWithaCxx :
Thanks for this. Does the fact that we want to go under 20% down change anything for lenders on this thread?
I'm not actually sure, but definitely on the overall rate/credits offered (since your LTV will be >80%). Not sure when PMI requirement kicks in
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