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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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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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levinthal2
10-11-2020 at 07:22 PM.
10-11-2020 at 07:22 PM.
Quote from yapagaldil :
@shahhere

Looking for suggestion, my loan was funded one day before the loan was transferred to new servicer. The loan officer was aware of this change but still send the money to the old servicer. Now i am unable to track where the money is sitting. I have spoken to the new servicer as well but they are slow in on-boarding the loan and still can't provide much insight. This point the older service is saying loan is transfered and new servicer can't tell much because loan is still in on-boarding processes.

Any suggestion on what I should do?
I am not shahhere, but I had a similar situation as described in my earlier posts.
In my case, the old servicer was TMS (a really bad company). New servicer was Mr. Cooper. The payoff was sent one day before transfer. Long story short, it was paid off with new servicer about 10 days late, with additional interest cost.
The starting point is to get a proof of wire transfer.
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yapagaldil
10-11-2020 at 08:38 PM.
10-11-2020 at 08:38 PM.
Quote from levinthal2 :
I am not shahhere, but I had a similar situation as described in my earlier posts.
In my case, the old servicer was TMS (a really bad company). New servicer was Mr. Cooper. The payoff was sent one day before transfer. Long story short, it was paid off with new servicer about 10 days late, with additional interest cost.
The starting point is to get a proof of wire transfer.
My new server is Mr. Cooper. I do have the wire transfer proof from the Title company.
Reply
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F1Racer
10-11-2020 at 08:40 PM.
10-11-2020 at 08:40 PM.

My Bayshore (Dave Pressel) experience:
09/07 - Loan app entered online
09/08 - Initial disclosures + LE + appraisal waiver rec'd
09/10 - Uploaded all my docs (very convenient esp.since I had digitalized my personal paperwork as a way of life already)
09/25 - Conditional approval rec'd
10/05 - 2nd disclosures + updated LE + official lock rate rec'd
10/07 - Initial Closing Disclosures rec'd
10/13 - Closing

Some notes:
  • Dave is super responsive (<=1 day @ most latency)
  • The Wiki, Opening post, 1st 20 pages & last 20 pages helps a ton for some1 like me who has never refi'd.
  • I didn't get to see the lender credit until the Initial Closing Disclosures were received. So I just went with Dave's promise & an email where lender credit was spelled out.
  • I shopped for title with Radian & it was lower by $450 which Bayshore matched & credited towards my final closing numbers.
  • Because of my county taxes & where I am in the year with my current escrows, am going to closing with a hefty out of pocket costs (EFGH).
  • But as Dave explained it: EFGH will be lessened in 2-3 weeks as I get my deposited unused escrows back from my current servicer. And everything else net of that is just business as usual due to lender & county.

Final numbers: 2.625%+No costs in D + $450 towards EFGH + 36 days turn time.

HIGH RECOMMENDATION for Dave Pressel, his entire underwriting & closing team @ Bayshore
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Last edited by F1Racer October 12, 2020 at 11:43 AM.
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levinthal2
10-11-2020 at 09:11 PM.
10-11-2020 at 09:11 PM.
Quote from yapagaldil :
My new server is Mr. Cooper. I do have the wire transfer proof from the Title company.
Next step is to confirm the receipt of wire transfer by the old servicer. I have a really bad experience about this with TMS. Then they should 1) forward it to new servicer with the correct receipt date or 2) return it asap. Who is your old servicer?
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yapagaldil
10-11-2020 at 09:54 PM.
10-11-2020 at 09:54 PM.
Quote from levinthal2 :
Next step is to confirm the receipt of wire transfer by the old servicer. I have a really bad experience about this with TMS. Then they should 1) forward it to new servicer with the correct receipt date or 2) return it asap. Who is your old servicer?

It's Rocket/Quicken mortgage. I tried asking the customer service multiple times but they can't see it.
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gaman
10-12-2020 at 06:07 AM.
10-12-2020 at 06:07 AM.
I am looking to put about 10k of down payment towards my refinance. I locked the rate on Friday with LC but reading from other comments, it looks like it may take 30-60 days to close. Is it a good idea, that instead of the above I put it down towards principal with my current lender to save on probably up to 2 months of interest?
Reply
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shahhere
10-12-2020 at 06:19 AM.
10-12-2020 at 06:19 AM.
Quote from sdpettytyrant :
LoanDepot. It is really hit and miss with them. It all depends on the loan officer.

Yes, LD must have diff departments or different thresholds to meet by different teams.


2.5 months ago they wouldn't give me anything worth proceeding with and said it would be 3.375%-3.25% with any credit at my "small" $230,000 loan amount. I formally applied as well and got the same answer and even checked in 2 other times as I was already getting 2.75% with many lenders with -$1000 credit or more.


Then in Sept a new LO called me again and was insistent that he can beat what I have and that the prior information wasn't with him...... I gave him all the info and he ran credit and basically came back saying that 2.5% would cost me about $11,000 in fees/points.


Obviously I was annoyed and that he was wasting my time despite setting clear expectations of what my numbers are and what not. Basically said send me a LE and he'll get it beat; again I did not want to do this work at that time but I did apply and got a few LEs and ironically the guy calls me again 3 day later. I send him the LE and he calls me a few times and again we are off and him saying I"ll save $15,000 over the course of the loan etc etc.....


Finally in the afternoon he called me with his manager team (3 total people on call) and I was annoyed as they were selling me BS numbers on the closing costs and savings over the life of the loan and monthly payments wont change crap. Told them that I understand all of that and done care to listen to it as I can calculate all that myself and since a LE was not sent that if they weren't speaking ABC on the LE to not waste my time. They came back and said they got a LE to cover all the costs to beat the other LE i sent over. Still off by $3400 after providing a $3000 credit (their ORG fee and other costs still stayed).


After all the calls they said they'll submit a pricing exemption and they came back and said that i was approved for a credit of $6800 which I couldn't believe but so far its locked and proceeding so once I close I'll rejoice but LD is all over the place for sure.


Shahhere
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shahhere
10-12-2020 at 06:24 AM.
10-12-2020 at 06:24 AM.
Quote from azpt :
I've started to do some research but some of the lenders on this thread only do refi's. Other's don't service Az.

I'm looking to buy the home from my in laws. The home value is $340,000 and they are willing to gift us the home's equity so that we would just need a loan to payoff what is owed. The loan would be for $256,000 so that would mean 75% LTV.

My mortgage broker stated the rate would be around 2.75% but this was an estimate she gave me on Sept 24th. She is charging a $1150 processing fee and believes I could have the appriasal fee waived. I would then also have to pay title fees.

My plan is to go ahead and start the application process with her and maybe also start applications with some other lenders at the same time. I just wanted to see if there were any specific lenders people have used for purchases in Az.

My point was that you'll have to shop and apply or inquire about the loans out there and if the lenders do purchase or not will vary but yes you'll have to shop. Purchase rules are a bit different and from what I understand the AMF wont apply to purchase but I am sure YMMV.


2.75% with roughly $3000 in costs isn't great ($1150+Title estimate) but as I am not shopping for a purchase I cannot quite help you as well as not being in AZ Smilie.


Shahhere
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shahhere
10-12-2020 at 06:30 AM.
10-12-2020 at 06:30 AM.
Quote from levinthal2 :
I am not shahhere, but I had a similar situation as described in my earlier posts.
In my case, the old servicer was TMS (a really bad company). New servicer was Mr. Cooper. The payoff was sent one day before transfer. Long story short, it was paid off with new servicer about 10 days late, with additional interest cost.
The starting point is to get a proof of wire transfer.
Quote from yapagaldil :
My new server is Mr. Cooper. I do have the wire transfer proof from the Title company.

Yes, this transfer of providers and servicers is crazy in all the years I've dont refinances as lenders use to hold loans for a few months at least before transferring. This year it seems that a lot of lenders are closing and immediately bundling and selling or selling with an anticipation closing before the damm loan closes!


As Levanthal noted that the Title Company and the Old Lender need to provide proof of successful wire transfer. It might take a few days/weeks to get the new account setup with the new Servicer. You will have to call and keep checking with the both lenders to see where your loan is and who you need to make payments (get that in writing).


I cant help you much as this isn't a common occurrence especially as soon as yours is. In my case it was scheduled to be transferred so I stayed on top of it and got it closed in time before the actual transfer as I was doing another refinance.


Shahhere
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shahhere
10-12-2020 at 06:37 AM.
10-12-2020 at 06:37 AM.
Quote from gaman :
I am looking to put about 10k of down payment towards my refinance. I locked the rate on Friday with LC but reading from other comments, it looks like it may take 30-60 days to close. Is it a good idea, that instead of the above I put it down towards principal with my current lender to save on probably up to 2 months of interest?

I know LC takes a while but I personally try to not pay and move large funds in the midst of a refinance as that can cause underwriting to question everything.


How far are you with LC? Keep in mind that by you paying 10K to your old lender you'll have to notify LC that your payoff has now changed which will affect your net credits as well. My suggestion is to close as soon as possible and bug LC every few days and then pay the down payment to them after close.


Make sure they dont sell and transfer you loan else' you'll be better served to wait until that happens and not risk your payments getting stuck in limbo.



Shahhere
Reply
Joined Dec 2013
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cdancer20
10-12-2020 at 07:01 AM.
10-12-2020 at 07:01 AM.
Quote from gaman :
I am looking to put about 10k of down payment towards my refinance. I locked the rate on Friday with LC but reading from other comments, it looks like it may take 30-60 days to close. Is it a good idea, that instead of the above I put it down towards principal with my current lender to save on probably up to 2 months of interest?
I suggest doing this. I did this with my first refinance with Better. I was going to pay down roughly $10-15k to get below 20%. However, when I ran the numbers, it made a lot more sense to pay it down sooner to save on the interest. I paid it down after I locked my rate.

Note that this didn't affect any of my credits since the loan amount. I imagine that it's because the loan amount stayed the same. I also didn't have to show any new bank statements. I just let the Loan Expert know what I was doing.
Reply
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seiromem
10-12-2020 at 07:04 AM.
10-12-2020 at 07:04 AM.
Quote from F1Racer :

My Bayshore (Dave Pressel) experience:
09/07 - Loan app entered online
09/08 - Initial disclosures + LE rec'd
09/10 - Uploaded all my docs
09/25 - Conditional approval rec'd
10/05 - 2nd disclosures + updated LE + official lock rate rec'd
10/07 - Initial Closing Disclosures rec'd
10/13 - Closing

Some notes:
  • Dave is super responsive (<=1 day @ most latency)
  • The Wiki, Opening post, 1st 20 pages & last 20 pages helps a ton for some1 like me who has never refi'd.
  • I didn't get to see the lender credit until the Initial Closing Disclosures were received. So I just went with Dave's promise & an email where lender credit was spelled out.
  • I shopped for title with Radian & it was lower by $450 which Bayshore matched & credited towards my final closing numbers.
  • Because of my county taxes & where I am in the year with my current escrows, am going to closing with a hefty out of pocket costs (EFGH).
  • But as Dave explained it: EFGH will be lessened in 2-3 weeks as I get my deposited unused escrows back from my current servicer. And everything else net of that is just business as usual due to lender & county.

Final numbers: 2.625%+No costs in D + $450 towards EFGH + 36 days turn time.

HIGH RECOMMENDATION for Dave Pressel, his entire underwriting & closing team @ Bayshore
Read many people recommended Bayshore but I applied online and sent a follow email. Received no response from Dave.
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cdancer20
10-12-2020 at 07:05 AM.
10-12-2020 at 07:05 AM.
Quote from shahhere :
I know LC takes a while but I personally try to not pay and move large funds in the midst of a refinance as that can cause underwriting to question everything.


How far are you with LC? Keep in mind that by you paying 10K to your old lender you'll have to notify LC that your payoff has now changed which will affect your net credits as well. My suggestion is to close as soon as possible and bug LC every few days and then pay the down payment to them after close.


Make sure they dont sell and transfer you loan else' you'll be better served to wait until that happens and not risk your payments getting stuck in limbo.



Shahhere
I did this exact thing with Better in my last refinance. I didn't affect any of my credits and nothing was questioned by underwriting. I suspect that it didn't affect anything because my loan amount didn't change. Only the amount that was due at closing.
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Joined Jul 2014
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levinthal2
10-12-2020 at 07:46 AM.
10-12-2020 at 07:46 AM.
Quote from yapagaldil :
It's Rocket/Quicken mortgage. I tried asking the customer service multiple times but they can't see it.
Don't waste too much time calling around low-level customer service agents.
Try to speak to one of their supervisors or directly to person in the wiring department if possible.
Prepare a memo/letter detailing what happened with documentary evidences.
Send it to old and new servicers and the lender and tell them you are considering filing a CFPB complaint. Prepare a payoff statement from Mr. Cooper ASAP just in case your payment will be returned to the title company. I hope it will be resolved soon.
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Danny_75
10-12-2020 at 08:17 AM.
10-12-2020 at 08:17 AM.
Quote from F1Racer :
My Bayshore (Dave Pressel) experience:
09/07 - Loan app entered online
09/08 - Initial disclosures + LE rec'd
09/10 - Uploaded all my docs
09/25 - Conditional approval rec'd
10/05 - 2nd disclosures + updated LE + official lock rate rec'd
10/07 - Initial Closing Disclosures rec'd
10/13 - Closing

Some notes:
  • Dave is super responsive (<=1 day @ most latency)
  • The Wiki, Opening post, 1st 20 pages & last 20 pages helps a ton for some1 like me who has never refi'd.
  • I didn't get to see the lender credit until the Initial Closing Disclosures were received. So I just went with Dave's promise & an email where lender credit was spelled out.
  • I shopped for title with Radian & it was lower by $450 which Bayshore matched & credited towards my final closing numbers.
  • Because of my county taxes & where I am in the year with my current escrows, am going to closing with a hefty out of pocket costs (EFGH).
  • But as Dave explained it: EFGH will be lessened in 2-3 weeks as I get my deposited unused escrows back from my current servicer. And everything else net of that is just business as usual due to lender & county.

Final numbers: 2.625%+No costs in D + $450 towards EFGH + 36 days turn time.

HIGH RECOMMENDATION for Dave Pressel, his entire underwriting & closing team @ Bayshore
Thanks for sharing the closing timelines. Did you have to get an appraisal done?
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