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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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Joined Jan 2007
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MitchD14
10-17-2020 at 06:39 AM.
10-17-2020 at 06:39 AM.
I may be close to closing with Loan Depot. I locked originally on 7/27 and after some back and forth in September after my rate expired, they honored the original rate with credits and extended 30 days. Now my rate is set to expire on Friday (10/23) and that is when they said I could close.

Does the rate lock go through Friday or expire at midnight Friday morning?

Also, should I be worried that my loan will not disburse by Friday and the lock would expire?

Finally, the processor said that I will get my final CD a day or two prior to closing. Doesn't it need to be three days before?

Ease my mind slickdeals community. Thanks!
Reply
Joined Dec 2013
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cdancer20
10-17-2020 at 06:55 AM.
10-17-2020 at 06:55 AM.
Quote from MitchD14 :
I may be close to closing with Loan Depot. I locked originally on 7/27 and after some back and forth in September after my rate expired, they honored the original rate with credits and extended 30 days. Now my rate is set to expire on Friday (10/23) and that is when they said I could close.

Does the rate lock go through Friday or expire at midnight Friday morning?

Also, should I be worried that my loan will not disburse by Friday and the lock would expire?

Finally, the processor said that I will get my final CD a day or two prior to closing. Doesn't it need to be three days before?

Ease my mind slickdeals community. Thanks!
Can you push up your closing by a day at all? I think you should be fine though as long as your final disclosure matches what you expect. For your second question, it's the initial CD that has to be 3 days before. They can still make changes after the fact if minor things change and don't have to wait 3 days.
Reply
Joined Nov 2017
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rk191
10-17-2020 at 11:02 AM.
10-17-2020 at 11:02 AM.
I finally closed with LD today.
My experience ..unless you have great deal & significant difference from competitor.
Would stay way from them..as processing is long.
Also factor in the interest you would be paying on current loan while waiting them to close.
Reply
Joined Jun 2020
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Letsgogogo
10-17-2020 at 02:51 PM.
10-17-2020 at 02:51 PM.
Quote from kr191 :
I finally closed with LD today.
My experience ..unless you have great deal & significant difference from competitor.
Would stay way from them..as processing is long.
Also factor in the interest you would be paying on current loan while waiting them to close.
Did you have to pay credit report deposit fee to initially start?

How long was your process in total from beginning to the end?
Reply
Joined Jan 2007
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MitchD14
10-17-2020 at 03:24 PM.
10-17-2020 at 03:24 PM.
Quote from Letsgogogo :
Did you have to pay credit report deposit fee to initially start?

How long was your process in total from beginning to the end?
I know that you didn't quote me, but I can answer. I will hopefully close in 90 days from lock. The credit report fee is 20.36. They say that you have to pay that to lock.
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Joined Jul 2010
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holycow1
10-17-2020 at 03:57 PM.
10-17-2020 at 03:57 PM.
Those who have recently closed with Loan Depot or have a firm closing date, can you please post timeline?

TIA!
Reply
Joined Nov 2017
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rk191
10-17-2020 at 05:10 PM.
10-17-2020 at 05:10 PM.
Quote from Letsgogogo :
Did you have to pay credit report deposit fee to initially start?

How long was your process in total from beginning to the end?
Yes had to pay credit report fee. Mine was about 47 days without appraisal.
From my experience that is why they have 60 day lock.They are slammed and taking time.
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MitchD14
10-17-2020 at 06:49 PM.
10-17-2020 at 06:49 PM.
Quote from holycow1 :
Those who have recently closed with Loan Depot or have a firm closing date, can you please post timeline?

TIA!
Mine is set to close next week. It will have been 90 days. After lock, not a peep for about 50 days when I reached out. The newly assigned processor sent me a new loan estimate with different credit from the original agreed-upon estimate so I had to go back to my loan officer who went to his manager to get it fixed which took about three days. They extended the lock another month and it seems like it will take that entire time.
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tedzo
10-17-2020 at 08:42 PM.
10-17-2020 at 08:42 PM.
Quote from cdancer20 :
I did the math right at $1000 to account for the $4999 max amount from Better. I think that I'm done with playing this refinance game after this. These rates mostly made sense with the $2500 Amex credit as then they made me money. Title and taxes are high in my state so I would have to see 2.5% or lower on a 30 year with at least $4500 lender credit to cover those to make me refinance again. And that's not including the new 0.5% fee.
That's pretty much what I got two weeks ago- 2.5% on a 30yr with 4300-ish credit and 3500-ish cost (A+B+C+E).
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TraceS9652
10-17-2020 at 09:47 PM.
10-17-2020 at 09:47 PM.
Quote from tedzo :
That's pretty much what I got two weeks ago- 2.5% on a 30yr with 4300-ish credit and 3500-ish cost (A+B+C+E).
who did you get that from? can you share the contact?
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TraceS9652
10-17-2020 at 09:52 PM.
10-17-2020 at 09:52 PM.
Quote from cdancer20 :
Have you tried asking another company to match LC, i.e. Better?
As I said, I am still waiting for LC (3 weeks now) for their LE as they seems to be the ONLY Lender that offer 2.5% 30 years at no cost. The quote that I got from LD is not even closed. I will like to know if here is any other lender out there that will be able to provide as good of deal as from LC. Better will match with any offer but they won't offer such deal initially.
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Joined Jan 2006
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scottman
10-17-2020 at 10:33 PM.
10-17-2020 at 10:33 PM.
Quote from TraceS9652 :
As I said, I am still waiting for LC (3 weeks now) for their LE as they seems to be the ONLY Lender that offer 2.5% 30 years at no cost. The quote that I got from LD is not even closed. I will like to know if here is any other lender out there that will be able to provide as good of deal as from LC. Better will match with any offer but they won't offer such deal initially.
When I applied to LC, someone called me the next day, but I didn't answer. They emailed me asking for some general info, then got right back to me with rates and loan estimates. Seemed very responsive with the initial LE, but maybe depends on applicant's profile.
Reply
Last edited by scottman October 17, 2020 at 10:37 PM.
Joined Aug 2020
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sdpettytyrant
10-17-2020 at 10:50 PM.
10-17-2020 at 10:50 PM.
Quote from shahhere :
clearly something on your end is amiss....

you clearly do not understand how any of this works on Slickdeals or on Bogglehead for that matter.
Wow you've showed your true colors. I pointed out unsavory practices by some of these companies, and your response is personal attacks.
Quote from shahhere :
Dave ... has been one of the better priced lender in line with LC rates.

A poster posting a rate and for you to come in and say he/she got taken advantage of is absolutely baseless .... Any lender can provide you whatever rate they can and its still on you to gauge if the deal is good or not as the Lender is in it to make money and not not offer community service.
I just go by the facts. I've been keeping a spreadsheet of rates and credits. I looked at 9/7-9/8 and I see Loan Cabin 30 year 2.375% no cost with extra lender credits, and 2.25% with points. I also remembered 2.5% no cost from a couple other companies. The poster indicated Bayshore Dave gave 2.625% no cost, and that is way out of line compared to Loan Cabin rates.

You say the lender is in it to make money and not offer community service, and indeed Dave took advantage of the poster and made money. You say it's on the poster to gauge if the deal is good or not, but the poster indicated that he doesn't want to spend the time on refinancing as we spend on it. The spreadsheet of facts indicate Dave took advantage of him. The poster was happy for the improvement from his previous rate and was happy to spend very little time, and that's great for him. Happiness on the deal is not the same as whether it was a great rate. It was an average rate for no cost, not a great rate. The same poster could refi right now to a lower rate no cost.
Quote from shahhere :
I am sure Dave knows what game we are playing here so I am sure he is protecting his bottom line with the credits and your ability to not use him as a shopping point.
You say you are playing a game. I'm not playing a game. I'm getting a great rate and great lender credits, and I'm closing with anyone who will give that. I'm not using someone for a great loan estimate to shop around and then abandoning them.

I don't like Dave playing a game, not putting lender credits on loan estimates, putting $100 for credit reports.

I don't like any company playing games. I don't like Interactive Mortgage or LoanDepot trying to reduce lender credits from the original amount on loan estimates. I don't like Watermark blacklisting Slickdealers. I don't like Calibre saying you will get lender credits and then not putting it on the loan estimate.

I've gotten a great deal, and I want to see other people get great deals too. It is a community service to be honest and say what is a great deal or not.
Quote from shahhere :
Not sure what your issue is with Dave in general but aside from him not responding to people as posters have noted on the forum or at least not a timely expected manner, he has delivered what he has told people and on the contrary has been one of the better priced lender in line with LC rates.


Don't particularly need to speak on Dave's behalf or defend him as the forum members have done so in a positive note and even the person you referenced in your response is countering your own statement so clearly something on your end is amiss....


BTW, I am sure Dave knows what game we are playing here so I am sure he is protecting his bottom line with the credits and your ability to not use him as a shopping point. Other lenders are doing the same but as long as they provide what was promised not much you can do as its not illegal to not provide the credit in the LE as Credit can always go up before you close and you'd be completely legit. Look at my experience with Caliber as they messed up and did NOT provide the credit from LE to LE.


A poster posting a rate and for you to come in and say he/she got taken advantage of is absolutely baseless and you clearly do not understand how any of this works on Slickdeals or on Bogglehead for that matter. Any lender can provide you whatever rate they can and its still on you to gauge if the deal is good or not as the Lender is in it to make money and not not offer community service. That's where the ability to Price Match and negotiate comes in and by that measuring stick you should be calling the FBI on Better with their rates and credit offerings before PMs Smilie.


Shahhere
It's one thing to be super slow. It's quite another to hide things, be rude, and bait and switch. There's no good excuse to put $195 for credit reports.
Reply
Joined Jan 2006
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scottman
10-18-2020 at 12:22 AM.
10-18-2020 at 12:22 AM.
Quote from sdpettytyrant :
I just go by the facts. I've been keeping a spreadsheet of rates and credits. I looked at 9/7-9/8 and I see Loan Cabin 30 year 2.375% no cost with extra lender credits, and 2.25% with points. I also remembered 2.5% no cost from a couple other companies. The poster indicated Bayshore Dave gave 2.625% no cost, and that is way out of line compared to Loan Cabin rates.
Some lender may just want to slow their load or even make more profit, but that isn't "taking advantage" of someone. And unless you know all the loan details, credit score etc.. you have no basis to say anyone was being taken advantage of.
Reply
Last edited by scottman October 18, 2020 at 02:06 AM.

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Joined Dec 2009
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GBusCrs
10-18-2020 at 08:08 AM.
10-18-2020 at 08:08 AM.
Can we stop the drama and stick to point of the thread? If you need to vent please private message each other.
Reply
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