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07/26/2021 - Best Mortgage Rates from Big & Reputable Lenders and SD Reviews (30year @ 2.75%, 15year @ 2.25% etc)

5,049 1,724 July 4, 2020 at 01:27 PM in Free Shipping (6)
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Last Edited by shahhere July 26, 2021 at 06:35 AM
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Details on how to understand the Mortgage basics and information that I understand for your learning can be accessed on this post (Click this hyperlink to go to the post); If you are new to this process and have questions this is a Must Read before asking question on the forum!


Reviving my over a decade old thread from SD and FW as the rates have gotten competitive. This thread is a SD community thread to compare and post best rates received along with their lender experience for a quick compare and estimation from a starting point.


Please note that rates will vary on quite a few factors and just because one person has a rate will not guarantee you will receive the same rate but simply use this as a guide and negotiation tactic.

All below rates are based on assumptions of certain LTV, DTI, & Excellent Credit Scores:

30 Year Fixed best rates (Assuming Good Credit & 20% down, low LTV, low DTI, etc etc):
All listed lenders are here because I shopped them and have encountered competitive pricing and not because I get any sort of a kickback....use this as a gauge for the latest but note that things can change week to week, day to day and even hour to hour:

07/14/2021 2.875% Better.com- Will consider Lender Match to beat Competitors and combine with Amex cashback (Click here for additional Forum thread details). Amex's "Digital Assist" Team @ 800-297-7500

07/14/2021 2.875% LoanDepot.com - Is competitive but works better if you have another offer for them. My LO Luke Dean
[email protected] 949-652-4521

07/14/2021 BSMFunding (David Pressel) - Call to get the latest rates (no published online). Very competitive rates; get everything in writing via email!
https://bsmfunding.mymortgage-onl...essel.html
David Pressel (NMLS: 562175)- Branch Manager - Phone: 908-208-2036
[email protected]
07/14/2021 2.5% LoanCabin [loancabin.com] - Most Competitive but refinance times have grow to almost 6 months for many people so proceed with caution as recent reviews indicate normal 1 month closing. Generally do not charge for big Lender Fees (A+B on LE) as they are under $100 in most cases; esp if appraisal is waived for your scenario.

07/14/2021 3% LenderFi - Competitive but might be slow and not work on beating other lender rates.
30 Year Fixed Jumbo Best Rates (Assuming Good Credit & 20% down):
TBD
15 year Fixed:
07/14/2021 2.0 % Better.com; matches Bankrate rates for themselves.
07/04/2020 2.5% NIH Credit Union with Lender Credit
Title Company Comparisions:
RadianTitleDirect.com - OP has used them for almost a decade with getting best rates (closed after Covid, Lender must submit order as consumer side is closed).
ALTTitle.com
https://www.valerotitle.com/ - Texas only.
Alphabetical list of other lenders (some could be non-proven without direct member experiences posted here):
  1. AimLoan - Will provide LE without hard pull if credit is frozen https://www.aimloan.com/
  2. Amerisave - will give you scores from all 3 bureaus with just a soft pull https://www.amerisave.com/
  3. Better.com https://better.com/
  4. BoxHomeLoans https://www.boxhomeloans.com/
  5. Close Your Own Loan https://www.closeyourownloan.com/...sults.aspx
  6. Colonial Mort http://www.colonialmort.com/
  7. HighTechLending http://www.hightechlending.co/Default.aspx
  8. Interactive Mortgage https://interactivemortgage.com/ Eric from IM is super rude so good luck dealing with this guy!
  9. LenderFi https://www.lenderfi.com [lenderfi.com]if the link wont work try this backend link: https://app.lenderfi.com/app/sign...r/lenderfi
  10. Loan Cabin https://www.loancabin.com/
  11. Loan Depot https://www.loandepot.com/
  12. LoanLock https://www.loanlock.com/
  13. NavyFederal CU https://www.navyfederal.org/
  14. NIH credit union (Delware, District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia, West Virginia) https://www.nihfcu.org/
  15. Northpointe Bank https://www.northpointe.com/
  16. Owning.com (Operates only in CA) https://owning.com/
  17. Pentagon Federal CU https://www.penfed.org/
  18. Provident Funding - will give LE without locking rate https://www.provident.com/
  19. RatePlus (California) https://www.rateplus.com/
  20. Travis Credit Union (12 North Cal Counties only) https://www.traviscu.org/ Eligibility traviscu.org
  21. United wholesale mortgages https://www.uwm.com/
  22. Watermark Home Loans https://www.watermarkhomeloans.com/
  23. West Coast Mortgage Associates (The loan broker is in So.Cal. Debbie Morgan) https://wcmtg.com/


Shahhere

Old Thread - https://slickdeals.net/e/1223863-03-06-2009-best-mortgage-rates-from-big-reputable-lenders-30year-5-15year-5-arm-s-etc
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Community Wiki

Last Edited by RiversofWisdom August 18, 2021 at 03:12 PM
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.

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Quote from MeAPhool :
I think a lot of people get confused with regards to "no closing cost". Specifically I think that is with regards to A+B+C (as referenced in this post by volcomssj48 - https://slickdeals.net/forums/showpost.php?p=138543920&postcount=138)

As per volcomssj48, this is a good place to go for a basic understanding of the LE (Loan Estimate) that should be provided to you by each lender once you give all of your information: https://www.consumerfinance.gov/o...-estimate/

I'm in NJ so I can't really shop Title Insurance much as it's the cost is regulated by the state, however in other states, you can really cut down some of the costs in section "C".
Good site for daily mortgage news. Subscribe to their daily mortgage rate news to learn about their predictions. Also take a look at the rest of their site.
http://www.mortgagenewsdaily.com/...age_rates/



Potential Lenders - Mentioned in Thread
*Please add to this list and add locality if applicable*
  1. Loan Cabin https://www.loancabin.com/
  2. Better.com https://better.com/
  3. Interactive Mortgage https://interactivemortgage.com/
  4. LenderFi https://www.lenderfi.com/
  5. owning.com (Operates only in CA) https://owning.com/
  6. NIH credit union (Delware, District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia, West Virginia) https://www.nihfcu.org/
  7. Loan Depot https://www.loandepot.com/
  8. Travis Credit Union (12 North Cal Counties only) https://www.traviscu.org/ Eligibility [traviscu.org]
  9. Pentagon Federal CU https://www.penfed.org/
  10. Interactive Mortgage https://interactivemortgage.com/
  11. NavyFederal CU https://www.navyfederal.org/
  12. United wholesale mortgages https://www.uwm.com/
  13. BoxHomeLoans https://www.boxhomeloans.com/
  14. LoanLock https://www.loanlock.com/
  15. West Coast Mortgage Associates (The loan broker is in So.Cal. Debbie Morgan) https://wcmtg.com/
  16. RatePlus (California) https://www.rateplus.com/
  17. Northpointe Bank https://www.northpointe.com/
  18. HighTechLending https://hightechlending.mortgagewebcenter.com/
  19. Close Your Own Loan https://www.closeyourownloan.com/...sults.aspx
  20. AimLoan - will give LE without hard pull if credit is frozen https://www.aimloan.com/
  21. Amerisave - will give you scores from all 3 bureaus with just a soft pull
    https://www.amerisave.com/
  22. Provident - will give LE without locking rate https://www.provident.com/ Best Credit Back with 60% LTV or better.
  23. Watermark Home Loans https://www.watermarkhomeloans.com/ Skip these guys. They are being rude to Slickdealers. In one occasion they have explicitly said they don't want to do business with people from Slickdeals. They also have an approach where they give you the best rate initially and just raise it more each time you ask.
  24. Colonial Mort http://www.colonialmort.com/
  25. Annie Mac https://www.annie-mac.com/ Licensed in these states https://www.annie-mac.com/page/licensed-states/
  26. Rate Rabbit https://www.raterabbit.com/ Licensed in MA and others [raterabbit.com]

Discount lenders who DO NOT accept fully documented in tax returns self-employment income:
Owning.com
BoxHomeLoans
Lower.com

Discount Lenders that DO accept fully documented in tax returns self-employment income:
Sebonic
Caliber
Sage

Title Company Shopping
AltTitle.com
mytitlegenius.com (formerly entitle direct)
TO AVOID - Settlement LTD (local Pittsburgh run away from them - high cost, very bad service, lot of delays)


Feel Free to Add Sections for Each Lender - MeAPhool

Loan Cabin - DetailsWARNING. DO NOT GO WITH LOAN CABIN. TRUST ME.
I would have lost the home if i was trying to buy a house.
I just had a normal refi and it took then 127 days to close. out of the 27 emails i sent, they responded to 3. I even had to call (complain) their main office 2 times to get a response to any emails. they screwed the closing paperwork as well.


Loan Cabin does not charge lender fees. Actually all of this is in their FAQ but of course nobody reads anything and wants everything spoon fed.

This means A+B (reference the link above in the wiki regarding Loan Estimate) in the Loan Estimate should be 0 (as long as your appraisal is waived).

You will be responsible for Title Cost (of course you can shop that to your heart's delight)
You will be responsible for Recording Fee in your county
You will be responsible for Escrows (if you so choose OR if you are close to Homeowner's OR Property Tax payment - though you can negotiate and show evidence to get it waived. Most lender's will waive it if you are choosing not to escrow and you can show proof that you paid the upcoming Property Tax or Homeowner's Insurance)

You will be responsible for Prepaid Interest (this isn't a cost. If you didn't refinance, you'd be paying the interest at your current mortgage rate which I assume would be higher).

Lender Credit - If this covers A+B+C+E then you have a no-cost refinance. If you have a surplus aside from A+B+C+E, then technically you made money on your refinance.


If you apply and do no hear back for 3 days, then on the 3rd business day, reach out to [email protected]. They will usually help get a response on your application within a day.



If the information in this WIKI does not cover your questions, then please ask. We will answer and update WIKI accordingly.

Thanks - MeAPhool

Quote from arouncoumar :
For those needing clarity on LC closing costs, I was on the same boat. See what they charge here https://www.dropbox.com/s/r30ecea...t.png?dl=0
Quote from PeterLegend :
Here is a photo of my loan estimate from Loan Cabin, my lender credits should be closer to 3K based on my initial conversations with Bob so i'm following up with him on that.

I do see title insurance in my estimate. I reached out to Owning but I didn't quality for the no cost refinance option since my LTV was 73%, it has to be 50% or lower when I spoke to them.

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dikomo
10-31-2020 at 11:06 AM.
10-31-2020 at 11:06 AM.
Quote from shahhere :
As noted to the other user who has been helpful but be mindful that I do not expect this to work in my favor at all . As Better noted that they were refunding but there is not federal regulation for them to refund it .


LD in this cases will probably be case by case and huge YMMV as my closing numbers are very favorable for me I doubt they will part with more of their earnings as they dont have to refund the AMF ($230k loan with -$6900 credit, +$1596 org fee at the 2.5% rate I got for the 30).


I love chasing the deal so nonetheless i'll go down this rabbit hole and see how far it leads and will update the community as always but as stated am not holding my breath.



Shahhere
Shahhere,

Did you lock after the AMF fee announced or before?
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Joined Jul 2006
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shahhere
10-31-2020 at 12:00 PM.
10-31-2020 at 12:00 PM.
Quote from dikomo :
Shahhere,

Did you lock after the AMF fee announced or before?

Yes, locked 9.3.2020 and signed today.

Wouldn't have closed on time but knowing the process i had to stay on top of all the steps and also fight back their initial almost denial for NTB. This marked my 5th in 12 month and 3rd in 3 month refi.

Shahhere
Reply
Joined Apr 2007
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presto987
10-31-2020 at 12:05 PM.
10-31-2020 at 12:05 PM.
Quote from shahhere :
Yes, locked 9.3.2020 and signed today.

Wouldn't have closed on time but knowing the process i had to stay on top of all the steps and also fight back their initial almost denial for NTB. This marked my 5th in 12 month and 3rd in 3 month refi.

Shahhere
I'm curious about the NTB issue and how you dealt with it. Did you go from 2.5% to 2.5%?

In my case I am currently at 2.625% and am trying to raise my rate. LD LO said I couldn't do that because of NTB, but the workaround was to move from a 30-year term to a 25-year term. I guess a change in term is considered a benefit.
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shahhere
10-31-2020 at 12:23 PM.
10-31-2020 at 12:23 PM.
Quote from presto987 :
I'm curious about the NTB issue and how you dealt with it. Did you go from 2.5% to 2.5%?

In my case I am currently at 2.625% and am trying to raise my rate. LD LO said I couldn't do that because of NTB, but the workaround was to move from a 30-year term to a 25-year term. I guess a change in term is considered a benefit.

My NTB issue was because they came back saying I would only save $30 going from 2.625% down to 2.5% (its actually incorrect as the savings is even smaller lol). I countered and said initially that its a savings to me so what do you care but the LO came back with 2 options to either bring 5% of the loan amount so my monthly savings would be at least 5% or go down to 2.25% and that I'd only have to pay $2000 or less during closing.


Both of those options were BS and I quoted CFPB rules worksheet items to them and #1 was incorrect as there is no 5% requirement for conventional loans as its a FHA/VA requirement and doesn't apply in this case so they were incorrectly applying it in my case. #2 I also countered to them again quoting CFPB that they cannot force me in a loan product to meet the NTB as that would be illegal.


I clearly indicated to them that I have an immediate NTB as first I am saving on my monthly, second I have an immediate breakeven as its a no cost loan and then some and lastly I can sign off as a borrower indicating that it is in my financial interest to take this loan and that I clearly understand the terms and fees. LD said oh they have their own rules and again I pushed as indicated to them that they cannot have overarching rules on top of what CFPB states.


Long and short the second reasoning to have an immediate breakeven was enough to get me past NTB.


Shahhere
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presto987
10-31-2020 at 01:53 PM.
10-31-2020 at 01:53 PM.
Thanks for the detail. Same thing happened to me with LoanDepot. I was originally trying to go from 2.625 to 2.5, and they said this wouldn't work because my payment needed to go down 5% to meet NTB. I was surprised, because surely if a borrower can reduce their rate with no costs then it is a NTB to them. I also pointed out that this was not a rule, but my LO said it is LD's specific policy.

LO suggested I reduce my loan amount enough to get the monthly payment to be 5% below the current. This required me to bring cash to closing even though I had a lot of lender credit.

The other option was to reduce my term to 25, 20, or 15 years. So I went with 25 years. When I did that, they were actually comfortable with me going up in the rate table to 2.875%.
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sdpettytyrant
10-31-2020 at 01:58 PM.
10-31-2020 at 01:58 PM.
Funded 3 refis in 3 months. Over $8,500 profit from lender credits (after subtracting A+B+C+E+original lender recording fee and payoff statement fee). When Amex credit posts, it'll be over $11,000. Onto refi 4, expecting funding in November.
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Usa2010
10-31-2020 at 02:51 PM.
10-31-2020 at 02:51 PM.
Quote from sdpettytyrant :
Funded 3 refis in 3 months. Over $8,500 profit from lender credits (after subtracting A+B+C+E+original lender recording fee and payoff statement fee). When Amex credit posts, it'll be over $11,000. Onto refi 4, expecting funding in November.
Plz DM ur lender contacts...I'm stuck with Loan Cabin for 3+ months now...
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Joined Nov 2017
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rk191
10-31-2020 at 02:57 PM.
10-31-2020 at 02:57 PM.
any good lender contacts for investment property?
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sdpettytyrant
10-31-2020 at 03:40 PM.
10-31-2020 at 03:40 PM.
Quote from Usa2010 :
Plz DM ur lender contacts...I'm stuck with Loan Cabin for 3+ months now...
You should proceed with more than one lender at the same time.

Better can close around 30 days. Better pre-lock would not match for me, but post-lock Better matched a competitor loan estimate. I submitted the loan estimate to Better within 1 day of the date on the loan estimate. So with hindsight, you should've applied to Better, and when you got your Loan Cabin loan estimate, then you should've locked with Better and sent the Loan Cabin loan estimate to your Better processing expert for a match.

You should check if Loan Depot lends in your state. If yes, then I suggest you contact presto987 for a good contact at Loan Depot that might match your Loan Cabin loan estimate. In the meanwhile, you should apply to Better and finish all the tasks except for rate lock, so you'll be ready for a new loan estimate.

For aggressive refiers only, Reali. Good is matching competitor loan estimate. Bad is over 3 months to close, a month to get initial pricing and loan estimate, high initial pricing.
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Letsgogogo
10-31-2020 at 10:55 PM.
10-31-2020 at 10:55 PM.
Quote from shahhere :
Yes, locked 9.3.2020 and signed today.

Wouldn't have closed on time but knowing the process i had to stay on top of all the steps and also fight back their initial almost denial for NTB. This marked my 5th in 12 month and 3rd in 3 month refi.

Shahhere
With better or LD?
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shahhere
11-01-2020 at 03:37 AM.
11-01-2020 at 03:37 AM.
Quote from Letsgogogo :
With better or LD?

9.3.2020 lock was with LD, I closed/funded my second with Better on 9.22.2020.

Shahhere
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Letsgogogo
11-01-2020 at 07:10 AM.
11-01-2020 at 07:10 AM.
Quote from shahhere :
9.3.2020 lock was with LD, I closed/funded my second with Better on 9.22.2020.

Shahhere
Nice. What was your lender credits at 2.5%?
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shahhere
11-01-2020 at 07:12 AM.
11-01-2020 at 07:12 AM.
Quote from Letsgogogo :
Nice. What was your lender credits at 2.5%?

$6900 at 2.5% on my $230,000 loan (-$1596 org).


Shahhere
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Joined Sep 2020
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JAC702
11-01-2020 at 08:51 AM.
11-01-2020 at 08:51 AM.
Is LD closing now a days pretty quickly?
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silicali
11-01-2020 at 07:22 PM.
11-01-2020 at 07:22 PM.
Quote from Johny707 :
Is LD closing now a days pretty quickly?
Locked on Sep 1st and closed on Oct 15th for me.
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