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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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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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airfreshjoe
11-01-2020 at 10:22 PM.
11-01-2020 at 10:22 PM.
Who do you guys recommend for lenders in either Orange County or LA County who can close on time and has the best rate?

Home value: 500K
Down Pay: 100K

Thanks!
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JudiciousBuyer
11-01-2020 at 11:00 PM.
11-01-2020 at 11:00 PM.
Only after going through this thread, I came across this term and googled;
https://mymortgageinsider.com/fha...o-qualify/
https://mymortgageinsider.com/fha...teps-6814/

This NTB is not required if you do traditional refinance (whole none yard)?

Quote from shahhere :
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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Joined Dec 2013
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cdancer20
11-02-2020 at 07:03 AM.
11-02-2020 at 07:03 AM.
Quote from NavyGame3262 :
Refinancing in Florida
Is anyone able to refinance is Florida a 30 years loan for approx.400K with LTV about 80% lender paying all the closing costs (except pre-paids) lower than 2.625%? I want to understand the current refinancing rates in Florida where the closing costs (C+E) are about 1% of the loan amount.
I am in Florida. I refinanced at $370k with 80% LTV. From Loan Cabin, I received 2.625% with $2k lenders credit or 2.75% with $5.1k lender's credit. I ended up price matching to Better for 2.625% at a about $3.7k lender's credit. I would assume then that LC would offer 2.5% at about 1-2%. My C+E was $4200. However, I didn't shop around for a title company. DO THIS! My first refinance with my own title company just a few months before was $3.9k but Better did offer me $300 credit to not change companies.
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NavyGame3262
11-02-2020 at 07:10 AM.
11-02-2020 at 07:10 AM.
Quote from cdancer20 :
I am in Florida. I refinanced at $370k with 80% LTV. From Loan Cabin, I received 2.625% with $2k lenders credit or 2.75% with $5.1k lender's credit. I ended up price matching to Better for 2.625% at a about $3.7k lender's credit. I would assume then that LC would offer 2.5% at about 1-2%. My C+E was $4200. However, I didn't shop around for a title company. DO THIS! My first refinance with my own title company just a few months before was $3.9k but Better did offer me $300 credit to not change companies.
Thank you for your response. Looks like the 2.625% for 400K loan with all lender paying all of D+E ($4K in my case) costs is still the best rate as of now for Florida for 30 years refinancing.
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Joined Apr 2007
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presto987
11-02-2020 at 07:33 AM.
11-02-2020 at 07:33 AM.
Quote from JudiciousBuyer :
Only after going through this thread, I came across this term and googled;
https://mymortgageinsider.com/fha...o-qualify/ [mymortgageinsider.com]
https://mymortgageinsider.com/fha...teps-6814/ [mymortgageinsider.com]

This NTB is not required if you do traditional refinance (whole none yard)?
I think you're right that there is not a common standard for NTB on traditional refis. Certain states have their own requirements though. And lenders may have their own policies.
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Joined Apr 2004
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BMWZ8Bond
11-02-2020 at 08:43 AM.
11-02-2020 at 08:43 AM.
Quote from airfreshjoe :
Who do you guys recommend for lenders in either Orange County or LA County who can close on time and has the best rate?

Home value: 500K
Down Pay: 100K

Thanks!
What does "on time" mean? Are you buying or refinancing? If buying, most lenders are prioritizing the underwriting/loan process for obvious reasons.

If refinancing, expect 30-90 days depending on the lender. I can recommend Interactive as they do no cost 2.5% on a 30 fixed and were able to close just over 30 days for me.
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jimmyrules712
11-02-2020 at 09:23 AM.
11-02-2020 at 09:23 AM.
Quote from sdpettytyrant :
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.
So you have to lock with Better before they will match a competing offer? When I first applied with them and asked them to match an offer I was told "sent the offer to this email address and we will try to match". I emailed the offer I wanted them to match and I never heard from them again (that was 3+ months ago).
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airfreshjoe
11-02-2020 at 09:42 AM.
11-02-2020 at 09:42 AM.
Quote from BMWZ8Bond :
What does "on time" mean? Are you buying or refinancing? If buying, most lenders are prioritizing the underwriting/loan process for obvious reasons.

If refinancing, expect 30-90 days depending on the lender. I can recommend Interactive as they do no cost 2.5% on a 30 fixed and were able to close just over 30 days for me.
I'm buying but I heard stories about internet-based lenders and big name companies such as Chase, BoA etc... not closing on time and was advised to go LOCAL.
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presto987
11-02-2020 at 09:44 AM.
11-02-2020 at 09:44 AM.
Quote from jimmyrules712 :
So you have to lock with Better before they will match a competing offer? When I first applied with them and asked them to match an offer I was told "sent the offer to this email address and we will try to match". I emailed the offer I wanted them to match and I never heard from them again (that was 3+ months ago).
No, you don't have to. But some people have had more luck getting price matches after locking than before. Also, Processing Experts are probably easier to get ahold of than Mortgage Experts (LOs).

Another idea is that you can try first before locking. If they agree, then great. If they don't, then lock and try again with the Processing Expert. That way you get two shots at it. (The only problem with this approach is that sometimes they insist that the competing LE be dated within 1 business day, so the timing may be hard to work out).

If you don't get a response to an email, I found it helpful to follow up with phone calls until you get an answer. Some Mortgage Experts are more responsive than others.
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JudiciousBuyer
11-02-2020 at 11:09 AM.
11-02-2020 at 11:09 AM.
I have never price matched. But I have some rate in mind and I always ask for no cost as origination/discount point/appraisal/Title could vary. They just need to cover these costs with lender credit or waive off. In my case Chase waived off everything except appraisal last year. I did a broker refinance and everything was taken care in lender credit in August (closed with in 4 weeks and smooth). Now I am again trying with LD with no cost (process seems stretched out). I have heard good things about Owning (CA, they close quickly) but they were not giving me rate I wanted..

Of course when there is hard check your credit score goes down by some points.

Once you pay for point(s) or closing cost, you are betting that rates will no go down further. If they do and you refinance, you are losing that part you paid.



Quote from presto987 :
No, you don't have to. But some people have had more luck getting price matches after locking than before. Also, Processing Experts are probably easier to get ahold of than Mortgage Experts (LOs).

Another idea is that you can try first before locking. If they agree, then great. If they don't, then lock and try again with the Processing Expert. That way you get two shots at it. (The only problem with this approach is that sometimes they insist that the competing LE be dated within 1 business day, so the timing may be hard to work out).

If you don't get a response to an email, I found it helpful to follow up with phone calls until you get an answer. Some Mortgage Experts are more responsive than others.
Reply
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cochbr
11-03-2020 at 11:35 AM.
11-03-2020 at 11:35 AM.
Thanks all for sharing your knowledge and experience. I reached out to owning.com this past Saturday night and negotiated 2.5% no-cost refi on my primary home's $450k loan at 3.75%, LTV 23%. Rate lock yesterday, appraisal scheduled for tomorrow, close in ~21 days (we'll see if this holds true).
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gti3372
11-04-2020 at 08:56 AM.
11-04-2020 at 08:56 AM.
Reached out to a broker I've worked with in the past as well as a few online vendors mentioned in this post for a refi.

Best offer I've received for a 30 year fixed @ 52% LTV and some cash out for a kitchen remodel is 2.5% with $1561 of costs rolled into the loan or payable at closing from Interactive. Anyone think I can do better, or should I lock this?
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MeAPhool
11-04-2020 at 09:22 AM.
11-04-2020 at 09:22 AM.
Quote from gti3372 :
Reached out to a broker I've worked with in the past as well as a few online vendors mentioned in this post for a refi.

Best offer I've received for a 30 year fixed @ 52% LTV and some cash out for a kitchen remodel is 2.5% with $1561 of costs rolled into the loan or payable at closing from Interactive. Anyone think I can do better, or should I lock this?
Ask the broker if the FHFA 50 basis point fee is priced into your loan. If it is not, then I would definitely lock. If it is, then it's up to you if you want to wait and see what happens after the election.
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wootwoot123
11-04-2020 at 09:41 AM.
11-04-2020 at 09:41 AM.
Quote from gti3372 :
Reached out to a broker I've worked with in the past as well as a few online vendors mentioned in this post for a refi.

Best offer I've received for a 30 year fixed @ 52% LTV and some cash out for a kitchen remodel is 2.5% with $1561 of costs rolled into the loan or payable at closing from Interactive. Anyone think I can do better, or should I lock this?
Ask them how long it takes to close. IM is as slow as LC for some of us.
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Joined Apr 2008
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gti3372
11-04-2020 at 09:42 AM.
11-04-2020 at 09:42 AM.
Quote from wootwoot123 :
Ask them how long it takes to close. IM is as slow as LC for some of us.
Interesting, they're telling me 35 days . . .
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