Slickdeals is community-supported.  We may get paid by brands for deals, including promoted items.
Popular

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)
Deal
Score +133
889,309 Views

Deal Details

Last Edited by shahhere July 26, 2021 at 06:35 AM
+133 Deal Score
889,309 Views
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
See Deal
Add a Comment
Report Reply

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.

Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.

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.

5,912 Comments

View Forum Thread

Your comment cannot be blank.

Sign up for a Slickdeals account to remove this ad.

Joined Mar 2008
L3: Novice
> bubble2 124 Posts
17 Reputation
araknis
10-12-2020 at 12:58 PM.
10-12-2020 at 12:58 PM.
Quote from Johny707 :
Click on the little bullet point check list icon on left side of screen and scroll down to see what date is listed under " What is the Contract closing date" . That is where mine shows 11/2/20.

Loan status updates in my portal shows it was sent to processing 9/16/20. I locked on 9/9/20.
Ok, that date is auto populated and means nothing. The only dates that matter are what is shown in Notifications.
Reply
Joined Sep 2020
L3: Novice
> bubble2 230 Posts
18 Reputation
JAC702
10-12-2020 at 01:02 PM.
10-12-2020 at 01:02 PM.
Quote from araknis :
Ok, that date is auto populated and means nothing. The only dates that matter are what is shown in Notifications.
Ahhh good to know! Well sucks even more for me, could very well mean Dec/Jan 2021 closing? Lol
Reply
Joined Oct 2020
New User
> bubble2 12 Posts
10 Reputation
Slickdealer2400
10-12-2020 at 03:49 PM.
10-12-2020 at 03:49 PM.
@Shahhere: Does the 6 months also apply to refinancing after a cashout refi? I am doing a cash out refi with Better.com and was thinking of refinancing rate and term (no cashout) to a lower rate after my Better.com cashout refi closes.


Quote from shahhere :
This has been discussed and at best my take is that its a scare tactic that Loan Officers are using to scare you into not taking the leap to refinance. The matters to the LO as they get paid their broker commission at the 6 month mark but that's not to say that you cannot refinance before that if its a material impact to you to do so.


LenderFi is the only lender noted here that has has made people sign this but how enforceable it will be or is is open. Even they aren't including whats generally called a "claw back clause" in the recent apps that I've reviewed.


Lenders might prevent you from doing another refinance if you were do it with them and Cashout Refinances have different rules BTW to wait at least 6 months.


Shahhere
Reply
Joined Mar 2014
L3: Novice
> bubble2 285 Posts
21 Reputation
JayT1528
10-12-2020 at 05:52 PM.
10-12-2020 at 05:52 PM.
Looking for any advice on who is good for Jumbo loans that serve Virginia.

Any help is appreciated.
Reply
Joined Aug 2020
L2: Beginner
> bubble2 61 Posts
sdpettytyrant
10-12-2020 at 09:00 PM.
10-12-2020 at 09:00 PM.
Has anyone seen 30 yr 2.375% on their Better rate sheet? I'm thinking 2.5% is their system's lowest right now.
Reply
Joined May 2005
L4: Apprentice
> bubble2 351 Posts
137 Reputation
KrustyVT
10-12-2020 at 09:51 PM.
10-12-2020 at 09:51 PM.
Be careful with Interactive Mortgage ...

My property is a condo in the Bay Area, and despite my high property value and 36% LTV no lender has ever been able to get an appraisal waiver due to it being a condo. I went through the initial process with IM, and they said they'd arrange for the appraisal.

Loan estimate + initial disclosures and 2.375% rate lock received and e-signed on 10/5.

I heard back from my loan consultant today that the disclosures were mistakenly setup to include an appraisal waiver, and since my property requires an appraisal it needs to be fixed. However, since more than 3 days have passed from the credit report date they have to reoriginate the mortgage, and their rate has now gone up to 2.5% - and that's the only rate they will honor.

He asked if I wanted to continue at 2.5%, and I declined. Not because 2.5% w/no closing costs isn't competitive - it is the next best I've seen on a >$510k loan - but because I refuse to do business with a company that works like this.
Reply
Last edited by KrustyVT October 12, 2020 at 09:57 PM.
Joined Jun 2006
L2: Beginner
> bubble2 84 Posts
14 Reputation
jrl
10-12-2020 at 11:05 PM.
10-12-2020 at 11:05 PM.
Quote from KrustyVT :
Be careful with Interactive Mortgage ...

My property is a condo in the Bay Area, and despite my high property value and 36% LTV no lender has ever been able to get an appraisal waiver due to it being a condo. I went through the initial process with IM, and they said they'd arrange for the appraisal.

Loan estimate + initial disclosures and 2.375% rate lock received and e-signed on 10/5.

I heard back from my loan consultant today that the disclosures were mistakenly setup to include an appraisal waiver, and since my property requires an appraisal it needs to be fixed. However, since more than 3 days have passed from the credit report date they have to reoriginate the mortgage, and their rate has now gone up to 2.5% - and that's the only rate they will honor.

He asked if I wanted to continue at 2.5%, and I declined. Not because 2.5% w/no closing costs isn't competitive - it is the next best I've seen on a >$510k loan - but because I refuse to do business with a company that works like this.
Totally understand your feelings, but if you wanted to stick it to them you could have them do the refinance and then refinance it ASAP once you get a better deal, and if it's within 6 months they won't get paid. Right now it seems that you are cutting off your nose to spite your face.

Also fwiw, I know a quite a few Bay Area condos getting appraisal waivers.
Reply
Last edited by jrl October 12, 2020 at 11:15 PM.

Sign up for a Slickdeals account to remove this ad.

Joined May 2005
L4: Apprentice
> bubble2 351 Posts
137 Reputation
KrustyVT
10-13-2020 at 07:33 AM.
10-13-2020 at 07:33 AM.
Quote from jrl :
Totally understand your feelings, but if you wanted to stick it to them you could have them do the refinance and then refinance it ASAP once you get a better deal, and if it's within 6 months they won't get paid. Right now it seems that you are cutting off your nose to spite your face.

Also fwiw, I know a quite a few Bay Area condos getting appraisal waivers.
Agreed that some condos will get waivers - but for whatever reason, I have never been able to get one for this location. Meanwhile, single family homes all around me with similar valuations get waivers with no issue.

As for my refinance - I'm currently at 2.75%, so I'm only absorbing a small hit. I'm betting on rates dropping between now and the election at least, at which point I will work with them again at 2.375% or less.
Reply
Joined Feb 2007
L5: Journeyman
> bubble2 633 Posts
144 Reputation
techoin
10-13-2020 at 07:52 AM.
10-13-2020 at 07:52 AM.
Quote from sdpettytyrant :
Has anyone seen 30 yr 2.375% on their Better rate sheet? I'm thinking 2.5% is their system's lowest right now.
I have seen upto 2.25% .. it was couple of months back though
Reply
Joined Jul 2007
L1: Learner
> bubble2 6 Posts
10 Reputation
senthilcoumar
10-13-2020 at 08:16 AM.
10-13-2020 at 08:16 AM.
delete
Reply
Joined Jul 2007
L1: Learner
> bubble2 6 Posts
10 Reputation
senthilcoumar
10-13-2020 at 08:19 AM.
10-13-2020 at 08:19 AM.
Any comments on the attached LE from Congressional Bank?
Click image for larger version Name: LE_congressional__Page_1.jpg Views: 33 Size: 167.5 KB ID: 9462128
Click image for larger version Name: LE_congressional__Page_2.jpg Views: 29 Size: 123.4 KB ID: 9462131
Click image for larger version Name: LE_congressional__Page_3.jpg Views: 13 Size: 187.4 KB ID: 9462134
Reply
Joined Jul 2006
Call me Mr. Deals
> bubble2 5,048 Posts
1,724 Reputation
Original Poster
Pro
shahhere
10-13-2020 at 08:33 AM.
10-13-2020 at 08:33 AM.
Quote from Slickdealer2400 :
@Shahhere: Does the 6 months also apply to refinancing after a cashout refi? I am doing a cash out refi with Better.com and was thinking of refinancing rate and term (no cashout) to a lower rate after my Better.com cashout refi closes.

Want to stand corrected here in what I typed earlier that a Conventional Cashout Refinance might not have to wait a 6 month period (Seasoning) but a VA/FHA one does. The 6 or 12 month period comes in to play not from Fannie/Freddy for Conventional but from most lenders who might not want to refinance you.


Best to check with the lender or provide information so I can correct my learning about this top (as I haven't do this personally).



Also note that you'll have to get an appraisal based on what I understand for a Cashout Refi.


Shahhere
Reply
Joined Jul 2006
Call me Mr. Deals
> bubble2 5,048 Posts
1,724 Reputation
Original Poster
Pro
shahhere
10-13-2020 at 08:46 AM.
10-13-2020 at 08:46 AM.
Quote from senthilcoumar :
Any comments on the attached LE from Congressional Bank?
Attachment 9462128
Attachment 9462131
Attachment 9462134

Looks to be a no cost refinance based on the fees and the lender credit at 2.5% for your $254,000 loan.



Looks solid!


Shahhere
Reply
Joined Jan 2007
L2: Beginner
> bubble2 50 Posts
10 Reputation
Wojofoo
10-13-2020 at 09:22 AM.
10-13-2020 at 09:22 AM.
Has anyone had issues with Better not getting transfer taxes correct? They are trying to charge me the same amount for when I purchased my house in 2017 instead of taxing me on only the difference between the new mortgage and the remaining mortgage as per Maryland law.
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Jul 2014
L2: Beginner
> bubble2 69 Posts
14 Reputation
levinthal2
10-13-2020 at 09:41 AM.
10-13-2020 at 09:41 AM.
Quote from Wojofoo :
Has anyone had issues with Better not getting transfer taxes correct? They are trying to charge me the same amount for when I purchased my house in 2017 instead of taxing me on only the difference between the new mortgage and the remaining mortgage as per Maryland law.
I don't know why. But I had the same experience in my 2 refinances with Better. My property is also in MD. But it was corrected in the closing disclosure. Ultimately the title company calculates the exact amount of section E cost. I think they overestimates it because legally they cannot increase it later.
Reply
Last edited by levinthal2 October 13, 2020 at 09:49 AM.
Page 238 of 395
Start the Conversation
 
Link Copied

The link has been copied to the clipboard.