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Box Home Loans Discounts, Deals and Coupon Codes

Mortgages: Refinance or Purchase at 3.125% with $0 closing costs or even a credit towards closing with Box Home Loans

bryantq 2,244 1,355 June 7, 2012 at 08:15 PM in Home & Home Improvement (7) More Box Home Loans Deals
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Last Edited by bryantq November 28, 2012 at 02:14 PM
Box Home Loans [boxhomeloans.com/slickdeals/] is offering an extra credit of 1/8th of a point on top of their already low rates and fees to Slickdeals users.

This allows some well qualified individuals to refinance or purchase a home at 3.125%* for no cost or even get a credit (they pay you!) towards closing.

Here at Slickdeals, we've actually had several employees use Box Home Loans, and after realizing it was such a good deal, we reached out to them to see if they could offer something even sweeter to our users. We've done a lot of comparison shopping for our own personal homes and Box Home Loans have always been the lowest (so far!) in fees, closing costs and rates! From our personal experience, its fast and no-nonsense.

Box Home Loans services the following states:
  • Arizona
  • California,
  • Colorado,
  • Idaho,
  • Nevada,
  • New Mexico,
  • Oregon,
  • Texas,
  • Utah
  • Washington
To give you guys an idea of the rate comparisons we did some research today*:
RATES ARE ALWAYS CHANGING SO BE SURE TO CHECK THE BOX HOME LOANS WEBSITE FOR CURRENT RATES - ITS EASY, NO EMAIL NECESSARY JUST PLUG IN THE NUMBERS.


Purchase:
LenderRateAPRClosing Costs
Box Home Loans (Slickdeals) [boxhomeloans.com]3.75%3.75%Free + $250 Credit
Box Home Loans (Direct)3.75%3.75%Free
First Internet Bank3.75%3.83%$1621
Amerisave3.75%3.83%$1991
Penfed3.75%3.81%$3562
Chase3.75%3.96%$4314
Box Home Loans (Slickdeals) [boxhomeloans.com]3.625%3.685%$1845
Box Home Loans (Direct)3.625%3.685%$2095
First Internet Bank3.625%3.704%$2649
Amerisave3.625%3.705%$2782
Penfed3.625%3.81%$5812


Refinance:
LenderRateAPRClosing Costs
Box Home Loans (Slickdeals) [boxhomeloans.com]3.75%3.75%Free + $80 Credit
Box Home Loans (Direct)3.75%3.75%Free
First Internet Bank3.75%3.83%$1757
Amerisave3.75%3.83%$565
Penfed3.75%3.8%$2188
Chase4.25%4.32%$3960
Box Home Loans (Slickdeals) [boxhomeloans.com]3.625%3.685%$1845
Box Home Loans (Direct)3.6253.685%$2095
First Internet Bank3.625%3.702%$2785
Amerisave3.625%3.705%$1773
Penfed3.625%3.768%$4438

Assumptions:
  • 30 Year Fixed Conventional Loan
  • $250,000 Home Value
  • $200,000 Loan Value
  • Clark County, Nevada
  • 740+ Credit Score
*Rates and data as of 06/07/2012 10:22am. We can't guarantee the availability of these rates, just showing you as a representative sample when we did the research!
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.

Community Wiki

Last Edited by mrkk July 19, 2013 at 02:44 PM
If you walk away AFTER locking the rate it would cost you about 1000$ (some fee and appraisal costs)

Now offered in AZ!!

Box Home Loans BAD EXPERIENCE -
Just a FYI I had a bad experience using box. I was getting a ~400k loan on my house worth over 1 million and they refused to close the loan because 1 of 3 bathrooms was not complete, even though the "as-is" appraisal on my house was still ~1 million. After wasting my time I used CashCall got the same same rate and they funded the loan with no problems whatsoever...



IF INTERESTED IN PROVIDENT.com, sign up with perkspot and get code for .25 rebate which is $250.00 for each 100K in loan value.

https://friends.perkspot.com/Logi...urnUrl=%2f

The code given here is the same as I got as govt employee.


Three criteria to fit in the box:*
  • Minimum 700 Credit Score.
  • Owner-Occupied Properties
  • Minimum 3.5% down (or equity)
*Other exclusions may apply. Consult your loan officer.


Box Home Loans only charges $149* in total lender and broker fees for conventional loans, and $199 for FHA Loans. No origination fees. No underwriting fees. No wire fees. No junk. And no, we do not raise your interest rate to make up for the low costs.


Compare the Right Fees

Read carefully. This is where most shoppers get taken. There are three types of fees in a mortgage quote--lender fees, third-party fees, and prepaid/escrow items--and only some of these should affect your comparison. We will summarize each and tell you how you should compare them.

Lender Fees
Lender fees consist of two things: points/origination fees and “junk” fees. You must take both into consideration. I repeat: you must add them together. Some lenders brag about charging “no points” only to charge you an “admin” fee of $1,995. Or others might advertise, “no junk fees” only to charge you twice the points of another lender. You also must know the following about the two different kinds of lender fees:

Points and/or Origination Fees
There are subtle differences to points and origination fees, but for the sake of comparison, they should be viewed as the same thing. The most important thing to know about points and origination fees is that their amounts go up or down as the interest rate goes up and down. Generally speaking, the lower your rate, the more you pay in points or origination fees. The higher the rate, the less you pay in points.

Lender “Junk” Fees
Underwriting Fees, Admin Fees, Tax Service Fees, Flood Certification Fees, Pay-For-My-Trip-To-Hawaii Fees, yada yada yada. The list goes on and on. It is somewhat amusing to see what kind of fees lenders make up. Basically, these are any fees not charged by the third parties below. And if a broker tries to pass off his partnering lender’s underwriting fee as a third-party expense, don’t believe it. Essentially, all fees not charged by the appraiser, credit agency, title company, or attorney, are all considered lender fees.

Third-Party Fees

Third-party fees don’t matter as much to your comparison because those fees are essentially the same no matter where you get your loan. In fact, it is illegal for a mortgage company to pad these third-party fees. These costs include the appraisal, credit report, title company fees, and government fees (recording, transfer taxes, tax stamps, etc). Third-party fees do vary somewhat from provider to provider. Not all title companies charge the exact same fees, for example. But the differences are minimal and typically not subject to change. Therefore, don’t waste too much time haggling over these. Haggle over the stuff that matters—lender fees!

Prepaid/Escrow Items

Prepaid/escrows items should have ZERO bearing on your comparison between two lenders. They represent the amount collected either to pre-pay (or escrow) your taxes, insurance, and interest. The amount a lender can collect for these items is highly regulated by the federal government, and does not fluctuate significantly from lender to lender. Yes, it is critical to understand the amount required for these items, but worry about this after you have chosen your lender.

To compare one lender with another, simply add up the points, origination fees, and lender “junk” fees for each lender.

What separates Box Home Loans from the rest is our lack of fees. It is stunning, actually. The only fees you will see from us are the points or lender credit associated with your rate and a processing fee of $149 for conventional loans and $199 for FHA loans.

Finally, whether you choose Box Home Loans for your next mortgage, these three comparison rules—Same Day, Same Rate, Right Fees—will prove invaluable as you shop for your next mortgage. Never again will you have to ask yourself, “Did I just pay too much?”

For everything else, make sure you're comparing the same rates, same values, and on the same day! It matters!

----

NOTE on CURRENT RATES
Make sure to check these rates OFTEN. Rates are RISING FAST this week, specifically yesterday.

Read: Mortgage Rates Reach Two-Month Highs. Best-Execution Shifts Higher [mortgagenewsdaily.com] (8/15/2012)
View: Today's Mortgage Rates [mortgagenewsdaily.com]

-----

515 Comments

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#436
Quote from Kanjuice View Post :
If you have not paid anything out of pocket yet, i would just call and tell them you do not want to refi anymore. Find another lender first...

I just got a rate of 3.375% for 30 yr, 80% LTV without any costs. I am in Michigan. Found multiple persons offering those same rates....
I've been charged for the appraisal and reimbursed with points. I don't know if I can pull out at this moment.

I'm refi'ing for more than $417K so am gonna pay slightly more than the conforming loans.
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#437
I refinanced with Provident. It was closed a week ago. The whole process took about two months. I have two rooms with no permits in the garage and they said that they would deny my loan. But they later changed their mind and said that they would approve my loan. So, I think that provident is good if everything is standard. But if you have any modification to your home, you will need to be careful.
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#438
Quote from gotojanoo View Post :
Can they refinance without appraisal or if they credit back appraisal if appraisal came low?
Wanna refinance currently have 4.75.,but 3 month ago appraisal came 25k low. Don't wanna risk 500 more for appraisal lol.
Yes there are loans that dont require appraisals such as Fannie Mae DU Refi Plus or Freddie Mac Open access, but both programs need an AUS (automated underwriting system) report stating the appraisal waiver. Also both programs, you note must have recorded with Fannie or Freddie prior to June 1, 2009. Also, both programs were designed to help home owners that are up side down. Hope this helps.
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#439
Quote from gotojanoo View Post :
Can they refinance without appraisal or if they credit back appraisal if appraisal came low?
Wanna refinance currently have 4.75.,but 3 month ago appraisal came 25k low. Don't wanna risk 500 more for appraisal lol.
Noadays, most lenders have no control over where the appraisal will go.
I went thru the same frustration last yr. Got a great rate from Amerisave but the appraiser screwed me, he came 45,000 less.
Instead then in dec 11 I went with this other lender who was able to use a drive by appraisal.I went to 3.875 @30 for no closing cost then.

Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me.
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#440
Does Box Home Loans lend loans for investment properties?
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#441
Quote from aunghtain View Post :
Does Box Home Loans lend loans for investment properties?
Dontknow But I don't see why not. It would be worth a call to find out.
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#442
Quote from Schooby View Post :
Dontknow But I don't see why not. It would be worth a call to find out.
I can't find an option to choose investment properties for rate calculator.
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#443
Quote from aunghtain View Post :
I can't find an option to choose investment properties for rate calculator.
You should give them a call...but wouldn't you pick residential property?
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#444
Quote from aunghtain View Post :
I refinanced with Provident. It was closed a week ago. The whole process took about two months. I have two rooms with no permits in the garage and they said that they would deny my loan. But they later changed their mind and said that they would approve my loan. So, I think that provident is good if everything is standard. But if you have any modification to your home, you will need to be careful.
How did they find out about those rooms?
The reason I am asking is because I finished my basement and built a sizable deck all up to code, just no permits.

Thanks
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#445
Quote from Zurg View Post :
How did they find out about those rooms?
The reason I am asking is because I finished my basement and built a sizable deck all up to code, just no permits.

Thanks
During appraisal. The appraisal guy said the total square feet didn't match with the record. He said that he had to report it.
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#446
Quote from Schooby View Post :
You should give them a call...but wouldn't you pick residential property?
i just chatted with them online. they dont loan for investment properties.
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#447
Quote from dssproxy View Post :
Who do you think buys mortgages from BHL.. Closed Sept 17th.
I was told it was usually Wells Fargo, Penny Mac, or Providence. It's too bad they're so swamped because the customer service could have been better, especially since I had to close a day later. I'd probably refinance with them again. Their rates were too good to pass up. Hopefully the next one will be smoother.
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#448
Quote from aunghtain View Post :
i just chatted with them online. they dont loan for investment properties.
Bummer..sorry but thanks for the info. It might help others.

Quote from OCSD View Post :
I was told it was usually Wells Fargo, Penny Mac, or Providence. It's too bad they're so swamped because the customer service could have been better, especially since I had to close a day later. I'd probably refinance with them again. Their rates were too good to pass up. Hopefully the next one will be smoother.
Yeah mine from Jan was sold to PennyMac. I never had any issues with them. I kind of hope it goes back to them again since it was trouble free. Smilie


I did talk to the loan officer the other day (I had a follow up comment for him) and while talking he did ask that I email him with any feedback or suggestions on what I think would help it run smoother. I mentioned that a few people on the forum commented on how long it took and were a bit concerned that their lock date might get passed up. He said they were working on that since yes, they did get swamped with the drop of interest rates. They want to reduce the amount of time it takes for the process to be completed. When I did mine in Jan. I think it only took about a month. This time I was down to being within a few days of my lock date ending.

Feel free to shoot them an email with any feedback. All-in-all I have been happy with the service and admit that when I did this the first time in Jan I was very skeptical and a bit nervous doing this all on line but it went quite well.
They seem to have really good customer service.


Heck if the rates keep going down I just might do this again in a few months Stick Out Tongue





* And I just got word that it was indeed sold to PennyMac again laugh out loud Thumbup
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Last edited by Schooby October 2, 2012 at 02:04 PM
#449
Who is offering this: Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me


Quote from goastros View Post :
Noadays, most lenders have no control over where the appraisal will go.
I went thru the same frustration last yr. Got a great rate from Amerisave but the appraiser screwed me, he came 45,000 less.
Instead then in dec 11 I went with this other lender who was able to use a drive by appraisal.I went to 3.875 @30 for no closing cost then.

Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me.
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#450
Quote from Tj05 View Post :
Who is offering this: Now I am ready to do refi again - 2.875 @ 15yr with no closing costs to me
which state are you in ? PM me and I can give you the company's number.
I have closed with them twice in past . I will be closing next week at my locked rate of 2.75 for 15 yrs with 0 closing costs. (locked on 9/25)
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