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
889,163 Views

Deal Details

Last Edited by shahhere July 26, 2021 at 06:35 AM
+133 Deal Score
889,163 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 Jan 2006
L9: Master
> bubble2 5,218 Posts
690 Reputation
scottman
10-14-2020 at 10:58 AM.
10-14-2020 at 10:58 AM.
Quote from presto987 :
They are not retroactively sneaking in the fee. What probably happened is that they requested a payoff quote from your current lender and have updated the payoff amount accordingly.

The payoff amount includes not only your current principal but also any interest that has accrued and will accrue until a week after your expected funding date. This ensures that your current lender gets paid all the interest that is due to them through the funding date, plus a little extra in case funding is delayed (the current lender will refund any overage). Normally you would be paying this interest as part of your monthly payment.

Finally, there are usually some recording or processing fees associated with the payoff. For me this was $129 on my last refi.
Yeah, I was just coming back here to post I forgot about that interest, which would also be close to the amount listed, so you are probably right. Thanks.
Reply
Joined Aug 2020
L2: Beginner
> bubble2 61 Posts
sdpettytyrant
10-14-2020 at 11:21 AM.
10-14-2020 at 11:21 AM.
For Radian, I emailed [email protected] twice and there's no response. Any suggestions? I really want to use Radian instead of Better's preferred company, so I'm not just rate shopping and price matching.
Reply
Joined Feb 2007
L4: Apprentice
> bubble2 387 Posts
286 Reputation
zakster
10-14-2020 at 11:22 AM.
10-14-2020 at 11:22 AM.
Quote from sdpettytyrant :
For Radian, I emailed [email protected] twice and there's no response. Any suggestions? I really want to use Radian instead of Better's preferred company, so I'm not just rate shopping and price matching.
Email [email protected] for quick response.
Reply
Joined May 2016
L2: Beginner
> bubble2 46 Posts
10 Reputation
Danny_75
10-14-2020 at 11:58 AM.
10-14-2020 at 11:58 AM.
Appraisal Appeal
Anyone went through appeal process with appraiser after appraisal chime in on the timelines for the appeal process and how successful they have been in getting the appraisal value increased by say 10%?
Reply
Last edited by Danny_75 October 14, 2020 at 11:59 AM.
Joined Apr 2007
L2: Beginner
> bubble2 43 Posts
14 Reputation
qAnon09102020
10-14-2020 at 12:35 PM.
10-14-2020 at 12:35 PM.
Well, I'd just like a big thank you for everyone who has made it possible for me to get one of the best rates ever for my refi. My goal is always 30 years fixed rate refi, and here's my journey:

9/1- Applied LC Online

9/9 - Emailed [email protected] in morning to ask for update
9/9 - Received Email stating " We are currently experiencing Higher than usual turn times and are reviewing all applications from 9.1.2020"

9/11 still nothing from LC since 9/9.
9/11 applied to Dave's BSM company at 9:08am PST

9/22 Emailed Bob @ Loan Cabin and got replied back the same day but rates (2.5% but paying $730 for points) weren't as competitive as before.
9/22 Called Interactive Mortgage (IM) general line off the website, and got a hold of someone within minutes. The LO told me the rate would be 2.625% no cost, but he suggested waiting till tomorrow for possible lower rates

9/23 Locked at 2.5% no cost (A+B+C) he said. Got my first LE, but it showed 2.625%. LO rushed me into signing it, but after I signed, I called him back and said the LE didn't show what he said of 2.5%. So there was a little back and forth, and it seemed fishy at this point.

9/25 Took the IM LE to Better and they beat it by $100. Locked immediately and got my updated LE and paid for $550. The rep did tell me I qualified for approval waiver but $550 was needed and will be refunded back after the loan closes (no big deal).

9/28 Title report ordered @ Better

9/29 Broke the news to IM LO that I'm working with Better too. His response was short saying he was giving me the same 2.5% for free already.

10/7 Title received@ Better

10/8 Title cleared@ Better

10/14 got my initial closing disclosure (ICD) at 12:36AM. Though the section E recording fees was not accurate but was assured by Closing Expert that it'd be accurate on the final closing disclosure. I scheduled for paperwork signing this weekend.

If you're still following my journey, you might wonder about what is happening with IM? I have yet to receive any further response than him saying he was already giving me the same refi at no cost. I don't expect to hear anything from the IM LO since the rep I had seemed unreliable from the start.


TLDR: Here's my refi that is due to complete this weekend.
293K, 60% LTV, 44% DTI, 800 credit score, Southern CA condo.
Lender credit - (A+B+C = D) is $508 credit back @ 2.5% 30 year fixed rate.
Reply
Last edited by qAnon09102020 October 14, 2020 at 12:38 PM.
Joined May 2011
L5: Journeyman
> bubble2 930 Posts
68 Reputation
boingyman
10-14-2020 at 01:10 PM.
10-14-2020 at 01:10 PM.
Just got a message after my refi with Owning that my new service lender will now be U.S. Bank Home Mortgage Servicing Department. Anyone else experience this. How are they?
Reply
Joined Oct 2008
L5: Journeyman
> bubble2 952 Posts
64 Reputation
quizzer
10-14-2020 at 01:36 PM.
10-14-2020 at 01:36 PM.
Quote from boingyman :
Just got a message after my refi with Owning that my new service lender will now be U.S. Bank Home Mortgage Servicing Department. Anyone else experience this. How are they?
Heard from my friends - US Bank is good. Big bank and no issues.
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Aug 2020
L3: Novice
> bubble2 108 Posts
14 Reputation
PeterLegend
10-14-2020 at 03:11 PM.
10-14-2020 at 03:11 PM.
I received a piece of mail from State Farm on my home insurance and Loan Cabin added their name and loan to the policy coverage lol. Which is funny since I haven't closed yet...
Reply
Joined Dec 2013
L5: Journeyman
> bubble2 606 Posts
95 Reputation
cdancer20
10-14-2020 at 04:05 PM.
10-14-2020 at 04:05 PM.
Quote from boingyman :
Just got a message after my refi with Owning that my new service lender will now be U.S. Bank Home Mortgage Servicing Department. Anyone else experience this. How are they?
They were the mortgager until 2 years ago when I moved. No complaints. Like previous poster said, they are a mainstream bank so they do more than just mortgages.
Reply
Joined Dec 2013
L5: Journeyman
> bubble2 606 Posts
95 Reputation
cdancer20
10-14-2020 at 04:06 PM.
10-14-2020 at 04:06 PM.
Quote from PeterLegend :
I received a piece of mail from State Farm on my home insurance and Loan Cabin added their name and loan to the policy coverage lol. Which is funny since I haven't closed yet...
Better did that too before I closed. I was super surprised to get the mail.
Reply
Joined Oct 2008
L5: Journeyman
> bubble2 952 Posts
64 Reputation
quizzer
10-14-2020 at 04:19 PM.
10-14-2020 at 04:19 PM.
Quote from PeterLegend :
I received a piece of mail from State Farm on my home insurance and Loan Cabin added their name and loan to the policy coverage lol. Which is funny since I haven't closed yet...
I got this the same day when LC said my application has been sent to Underwriting.
Reply
Joined Sep 2009
L5: Journeyman
> bubble2 550 Posts
157 Reputation
mamakat
10-14-2020 at 04:30 PM.
10-14-2020 at 04:30 PM.
At what point would you give up on LC and go to another lender? I've been waiting 10 weeks. I'm not getting any response to status inquiries. My appraisal was done over a month ago, and I feel if I go elsewhere I will lose that $500 fee I paid. But also, just how long do I hang on and wait? And what about the new .5% fee that's going to kick in if I go elsewhere and it takes this long?.. I'm sooo frustrated.
Reply
Joined Aug 2020
L2: Beginner
> bubble2 61 Posts
sdpettytyrant
10-14-2020 at 04:30 PM.
10-14-2020 at 04:30 PM.
Quote from zakster :
Email [email protected] for quick response.
She is awesome, got a quote in less than an hour.

Quote from qAnon09102020 :
9/11 applied to Dave's BSM company at 9:08am PST
Quote from F1Racer :

My Bayshore (Dave Pressel) experience:
09/07 - Loan app entered online
09/08 - Initial disclosures + LE + appraisal waiver rec'd
...
10/13 - Closing
...
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.
...
Final numbers: 2.625%+No costs in D + $450 towards EFGH + 36 days turn time.
I think David Pressel and BSM should be removed from the list. I've not heard anything weeks after applying and emailing. Other people are reporting the same. Dave didn't give this person a great deal, 2.625% on 9/8. He also refused to put the lender credit on the loan estimate. It's disappointing.

Quote from KrustyVT :
Be careful with Interactive Mortgage ...
I went through the initial process with IM, and they said they'd arrange for the appraisal.
...
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.
Quote from qAnon09102020 :
9/22 Called Interactive Mortgage (IM) general line off the website, and got a hold of someone within minutes. The LO told me the rate would be 2.625% no cost, but he suggested waiting till tomorrow for possible lower rates

9/23 Locked at 2.5% no cost (A+B+C) he said. Got my first LE, but it showed 2.625%. LO rushed me into signing it, but after I signed, I called him back and said the LE didn't show what he said of 2.5%. So there was a little back and forth, and it seemed fishy at this point.
...
9/29 Broke the news to IM LO that I'm working with Better too. His response was short saying he was giving me the same 2.5% for free already.
...
If you're still following my journey, you might wonder about what is happening with IM? I have yet to receive any further response than him saying he was already giving me the same refi at no cost. I don't expect to hear anything from the IM LO since the rep I had seemed unreliable from the start.
I think Interactive Mortgage should also be removed from the list. They were shady and rude to me too.
Reply
Joined Apr 2007
L3: Novice
> bubble2 341 Posts
82 Reputation
presto987
10-14-2020 at 05:34 PM.
10-14-2020 at 05:34 PM.
Quote from mamakat :
At what point would you give up on LC and go to another lender? I've been waiting 10 weeks. I'm not getting any response to status inquiries. My appraisal was done over a month ago, and I feel if I go elsewhere I will lose that $500 fee I paid. But also, just how long do I hang on and wait? And what about the new .5% fee that's going to kick in if I go elsewhere and it takes this long?.. I'm sooo frustrated.
I understand your frustration. I am going through the process with LC too, though I haven't been waiting as long as you have.

If I were in your shoes, I'd definitely want a status update. Like are you waiting in the queue to have your file reviewed, or did they just get stuck somewhere? Sometimes they are just stuck waiting on one thing, and if you knew what it was, you could try to help expedite it. But you can't do that if they don't respond to you!

Have you tried calling your loan officer recently? Mine never responds to emails and only occasionally responds to texts. But when I call, he usually picks up. Also things get busier for them toward the end of each month, so if you haven't reached out recently, you could try again.

You are right that the 0.5% fee is already priced in everywhere, so assuming you locked with LC before they started including the fee, then you will lose that benefit if you jump ship.

You could try seeing if LoanDepot is willing to beat or match LC's offer. There have been several reports of this happening. I personally was able to get LD to beat my locked LC rate a few weeks ago (though I am hoping to close with LC for various reasons). I am happy to share via PM the contact info of the LD LO who was able to do this.
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Apr 2007
L3: Novice
> bubble2 341 Posts
82 Reputation
presto987
10-14-2020 at 05:38 PM.
10-14-2020 at 05:38 PM.
I've been responding to a lot of questions, but I have one of my own:

Do lenders collect prepaid property taxes even if you're not escrowing property taxes?

I thought the answer was yes, that they usually collected prepaid taxes if they were due over the next 2 months. Even if you don't escrow. I thought this was a Fannie/Freddie guideline.

The reason I'm asking is that I am looking to do a loan with LC that involves a very large lender credit. I was hoping to apply the credit to prepaid property taxes to avoid going over the $2000 cash-to-borrower limit for a non-cash out refi. But my LC LO is saying that I would need to escrow in order to get property taxes paid from my loan.

LC will be selling the loan to PennyMac, but I thought that PennyMac would typically sell loans into Fannie/Freddie, so they would have to follow those guidelines.

Appreciate any insight!
Reply
Page 241 of 395
Start the Conversation
 
Link Copied

The link has been copied to the clipboard.