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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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> bubble2 17 Posts
TNDN
10-07-2020 at 08:24 PM.
10-07-2020 at 08:24 PM.
Quote from sdpettytyrant :
I have an appraisal waiver, but it doesn't matter to Better. Better still wants the appraisal deposit.

How are some of you avoiding the appraisal deposit with Better (now that the Amex offer is gone)?
They will refund you the money during closing.
Reply
Last edited by TNDN October 7, 2020 at 08:37 PM.
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> bubble2 38 Posts
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pogchamp
10-07-2020 at 08:31 PM.
10-07-2020 at 08:31 PM.
Quote from sdpettytyrant :
I have an appraisal waiver, but it doesn't matter to Better. Better still wants the appraisal deposit.

How are some of you avoiding the appraisal deposit with Better (now that the Amex offer is gone)?

The loan officer that I worked with from better was able to lock in the rate over the phone to avoid the fee (there was no way to lock online without the fee). This was after I asked them to check if I was eligible for a waiver. Once they confirmed I had a waiver, they had no problem waiving the upfront fee.
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Joined Apr 2004
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> bubble2 1,449 Posts
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BMWZ8Bond
10-07-2020 at 09:45 PM.
10-07-2020 at 09:45 PM.
Quote from gaman :
Locking a refinance rate with a lender doesn't mean I have to close with them? Correct? I can lock with several lenders but pick the best lender for closing?
Correct. I don't mean this to be snarky, but reading it helps it make logical sense: they can't force you to borrow money from them.

Some (Better, LD, etc.) will require an appraisal deposit. If you cancel before the appraisal (or don't even need one), they refund the money. I cancelled with LD the Friday before my appraiser was to come out on the following Monday. No issue getting my deposit back, and required no work on my part subsequent to my withdrawing my application. Took a week or two, but got an email then saw the credit hit my card.
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> bubble2 43 Posts
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qAnon09102020
10-07-2020 at 09:45 PM.
10-07-2020 at 09:45 PM.
Has anyone from Orange County, California closed with Better? What were your recording fees? Strangely enough, lender 1 only charged $150 on Part E of LE, but Better stated $325 then updated LE now shows $382. Has this happened to anyone?

Also, I have a condo, but a rep from Better just said I needed to increase my coverage so that my deductible stays under 5%. Followed by this link: https://selling-guide.fanniemae.c...6-2014.htm

Did anyone else face this from Better.com?
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Joined Jun 2008
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> bubble2 66 Posts
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humnukupua
10-07-2020 at 10:35 PM.
10-07-2020 at 10:35 PM.
Quote from qAnon09102020 :
Has anyone from Orange County, California closed with Better? What were your recording fees? Strangely enough, lender 1 only charged $150 on Part E of LE, but Better stated $325 then updated LE now shows $382. Has this happened to anyone?

Also, I have a condo, but a rep from Better just said I needed to increase my coverage so that my deductible stays under 5%. Followed by this link: https://selling-guide.fanniemae.c...6-2014.htm

Did anyone else face this from Better.com?
I closed with Better for a condo refi in OC, CA at the end of Aug and the initial closing disclosure had $382 for recording, but the final CD was only $139 so your fees should drop closer to $150. Better had no issues with my coverage so can't help you there.
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> bubble2 930 Posts
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boingyman
10-07-2020 at 11:49 PM.
10-07-2020 at 11:49 PM.
Just wanted to share my experience since this thread has been so helpful.

Location: Northern California
Loan Amount: $369k
LTV: ~62%
Credit Score: 800+
Rate: 30 year @ 2.5%
ABCE = $900 (points paid due to LTV not being < 60%, they paid for title and recording fees, appraisal waiver)

9/1: Applied to Owning
9/2: Locked with Owning and received my LE.
9/3-9/12: Mostly waiting, but had to send or sign some documents during this timeframe.
9/13: Informed that we will be signing closing docs in 2 days.
9/15: Signed closing docs with notary
9/19: Had to take 2 photos of the house (due to being near the fires)
9/24: Had to fix a date error
9/25-10/5: *crickets*
10/6 - Finally closed

Done. During the process I got other quotes that actually beat Owning by $500 (Dave Pressel and Loan Depot), however I had a lot on my plate at the time and I was 1/3 of the way through the process. I did not like that fact that I had to sign way before the loan actually closed, but it seems like common practice from Owning if you read other experiences. LO responded quickly to emails, except towards the end I felt like I was ghosted. Overall the process was very easy with Owning, but it's also my 4th or 5th time refinancing so I'm use to it. I would recommend Owning since overall customer service was good, everything was done promptly and are competitive with their rates.

If I had to do it again at that time I should have applied to Loan Cabin immediately first. I'm willing to bet I could have gotten a better deal. Possibly 2.25% with maybe slightly higher ABCE cost or even 2.5% with more lender credit. I would have also shopped around a little more and just binge shopped to get multiple quotes/LE's as possible. If I just pushed and went through with Dave or LD I could have saved $500 more. I also should have estimated higher worth of my house. About week into the process a comp on my street with same floorplan and equivalent upgrades was pending at ~60% LTV. It's possible my home could be below 60% LTV
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Last edited by boingyman October 8, 2020 at 12:00 AM.
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> bubble2 540 Posts
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NFLfan
10-08-2020 at 04:47 AM.
10-08-2020 at 04:47 AM.
I got a 2.5%, $4,950 credit, 30 year fixed for a new home purchase through congressional bank. Is it good deal? They also waived the appraisal since i am paying 20% down. However, they are charging $1280 in 'junk fees' though. They told me that they wont waive them.
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Last edited by NFLfan October 8, 2020 at 05:44 AM.

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> bubble2 188 Posts
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Bigbert
10-08-2020 at 05:37 AM.
10-08-2020 at 05:37 AM.
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.
As long as you haven't actually gotten the appraisal done you can cancel and get a refund.

Or you can submit the offers from other lenders to your loan officer and they will match. I got my rate/fees matched twice
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> bubble2 710 Posts
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weigojmi
10-08-2020 at 05:42 AM.
10-08-2020 at 05:42 AM.
Quote from sdpettytyrant :
I have an appraisal waiver, but it doesn't matter to Better. Better still wants the appraisal deposit.

How are some of you avoiding the appraisal deposit with Better (now that the Amex offer is gone)?
Honestly, I'm not really sure what the big deal is to tie up ~$500 for a few weeks...
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> bubble2 5,048 Posts
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shahhere
10-08-2020 at 05:54 AM.
10-08-2020 at 05:54 AM.
Quote from NFLfan :
I got a 2.5%, $4,950 credit, 30 year fixed for a new home purchase through congressional bank. Is it good deal? They also waived the appraisal since i am paying 20% down. However, they are charging $1280 in 'junk fees' though. They told me that they wont waive them.

The rate and the net credit of $3670 sound good enough for the current week(s). Not sure what you loan amount is but that should be a no cost loan and some money coming you way.


Shop for Title if you didn't already so you can control that in addition to the other costs. Who's the lender? I am sure you did your due diligence of asking Dave Pressel and checking LC as well?



Shahhere
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Joined Aug 2011
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> bubble2 315 Posts
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dealz2012
10-08-2020 at 07:09 AM.
10-08-2020 at 07:09 AM.
Anyone recently look into a loan in MA?

RateRabbit online and Lenderfi is 2.875%, I haven't called either yet...

Just submitted an inquiry to WM.

Loan Cabin shows 2.5% but doesnt service MA which is annoying. Anywhere else MA folks have been getting decent rates through online servicers? Rather narrow down the list to 2-3 people to give all my info out to...
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Joined Mar 2005
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> bubble2 540 Posts
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NFLfan
10-08-2020 at 07:44 AM.
10-08-2020 at 07:44 AM.
Quote from shahhere :
The rate and the net credit of $3670 sound good enough for the current week(s). Not sure what you loan amount is but that should be a no cost loan and some money coming you way.


Shop for Title if you didn't already so you can control that in addition to the other costs. Who's the lender? I am sure you did your due diligence of asking Dave Pressel and checking LC as well?



Shahhere
Lender is Congressional Bank. The loan is for $495,000. I did not ask David Pressel. Loan Cabin does not serve in Maryland.
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Joined Nov 2015
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> bubble2 130 Posts
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gaman
10-08-2020 at 07:46 AM.
10-08-2020 at 07:46 AM.
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.
So if the LTV is below 50% you can get Title insurance waived? Is it only for Owning? I am not in CA, so I can't go through Owning.
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Joined Apr 2007
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> bubble2 341 Posts
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presto987
10-08-2020 at 08:12 AM.
10-08-2020 at 08:12 AM.
Quote from gaman :
So if the LTV is below 50% you can get Title insurance waived? Is it only for Owning? I am not in CA, so I can't go through Owning.
Title costs aren't waived, but they give you a credit that is large enough to cover title costs.

Many lenders -- pretty much all of them who are discussed regularly in this thread -- offer the option of no-cost refis. Some of them like Owning and Interactive Mortgage impose certain restrictions in order to be eligible. Others will simply allow you to increase your interest rate in order to get enough lender credits to offset your costs.
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> bubble2 49 Posts
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yapagaldil
10-08-2020 at 10:34 AM.
10-08-2020 at 10:34 AM.
Quote from NFLfan :
Lender is Congressional Bank. The loan is for $495,000. I did not ask David Pressel. Loan Cabin does not serve in Maryland.
Try Lenderfi and Better. Lenderfi gave a decent deal to someone i know from Maryland.
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