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

5,050 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
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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 Oct 2008
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> bubble2 710 Posts
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weigojmi
08-15-2020 at 04:40 AM.
08-15-2020 at 04:40 AM.
Speaking of LenderFI, the main link says they are not taking new applications but the second link is allowing me to apply.
Reply
Joined Aug 2012
L6: Expert
> bubble2 1,519 Posts
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HarryS4062
08-15-2020 at 06:23 AM.
08-15-2020 at 06:23 AM.
Quote from Gaston :
Curious on your thoughts. Just got a LE from LenderFi. 30 year, $390k, 59% LTV. Offered 2.625% with 0 points. A+B+C = $1100. Lender credit of $723. I'm thinking about trying to get it matched/beat...but am a bit worried with rates and the fannie/freddie fee. Thoughts? Lock now?
There are two separate factors that contributed to a 0.25 to 0.5 RATE increase last week.
One that everyone is talking is the G-Fee increase of 0.5% (which really should only decrease lender credits by about 1K in most cases and not affect the rate itself). This would have entered rate sheets from either 12th or 13th Aug.
Two that is not talked about as much is a general UMBS drop which is not that much but compared to previous week when between 6th to 10th Aug which was the best week, it dropped on 11 Aug - what they called a technical correction after having risen to best levels - and did not start recovering until about 14th Aug.

So if you got a LE on the 13 or 14th that would be one of the worst rates in the past couple weeks. While unlikely that G-fee would be rolled back, UMBS did make a recovery and is expected to recover even more next week (though not guaranteed). So if you wait to next week you might get an ever better LE to send for matching. Or you can ask next week to LenderFi itself that since rates have dropped since last week can they generate an updated LE.
Reply
Joined Sep 2018
L4: Apprentice
> bubble2 305 Posts
61 Reputation
Lifeinabox
08-15-2020 at 09:53 AM.
08-15-2020 at 09:53 AM.
Quote from weigojmi :
Speaking of LenderFI, the main link says they are not taking new applications but the second link is allowing me to apply.
Yes, that's the backdoor application that several of us have used sucesfully.
Reply
Joined Sep 2018
L4: Apprentice
> bubble2 305 Posts
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Lifeinabox
08-15-2020 at 09:57 AM.
08-15-2020 at 09:57 AM.
Speaking of LenderFi, here's the latest on my refi:

8/3 Applied via backdoor link.
8/4 Application approved and first contact with my LO.
8/5 Received redisclosure documents and inital documents request.
8/6 Locked 2.5% 30 yr with ~$600 in net credits.
8/7-8/11 Dark.
8/12 Received initial disclosures and follow-up document request.
8/14 Forwarded to loan processing...
Reply
Joined Sep 2008
L7: Teacher
> bubble2 2,461 Posts
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lanb
08-15-2020 at 11:01 AM.
08-15-2020 at 11:01 AM.
Did the G-fee increase for all LTV's or just ones > 50% ?
Also, was it for 15 Year loans too ?

WM quoted reduced lender credit by about $1500 on 8/12 compared to 8/11 for me Frown

Quote from HarryS4062 :
There are two separate factors that contributed to a 0.25 to 0.5 RATE increase last week.
One that everyone is talking is the G-Fee increase of 0.5% (which really should only decrease lender credits by about 1K in most cases and not affect the rate itself). This would have entered rate sheets from either 12th or 13th Aug.
Two that is not talked about as much is a general UMBS drop which is not that much but compared to previous week when between 6th to 10th Aug which was the best week, it dropped on 11 Aug - what they called a technical correction after having risen to best levels - and did not start recovering until about 14th Aug.

So if you got a LE on the 13 or 14th that would be one of the worst rates in the past couple weeks. While unlikely that G-fee would be rolled back, UMBS did make a recovery and is expected to recover even more next week (though not guaranteed). So if you wait to next week you might get an ever better LE to send for matching. Or you can ask next week to LenderFi itself that since rates have dropped since last week can they generate an updated LE.
Reply
Joined Aug 2012
L6: Expert
> bubble2 1,519 Posts
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HarryS4062
08-15-2020 at 11:26 AM.
08-15-2020 at 11:26 AM.
Quote from lanb :
Did the G-fee increase for all LTV's or just ones > 50% ?
Also, was it for 15 Year loans too ?

WM quoted reduced lender credit by about $1500 on 8/12 compared to 8/11 for me Frown
G-Fee increased for all refi loans 15, 30, ARM, 20, everything and does not matter what your LTV is.
G-FEE increase was documented on 8/12 and communicated to lenders 8/12/ to 813. So rate tables started to change towards evening of 8/13.
Additionally the UMBS dip was reversed on Friday and the positive aspect of this will usually take 2 to 3 days to enter rate tables....likely begin seeing lower rates Tuesday or Wednesday next if the trend continues but if the trend reverses they will likely stay what they are as of Friday/today.
Reply
Joined Sep 2008
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lanb
08-15-2020 at 12:05 PM.
08-15-2020 at 12:05 PM.
Quote from HarryS4062 :
G-Fee increased for all refi loans 15, 30, ARM, 20, everything and does not matter what your LTV is.
G-FEE increase was documented on 8/12 and communicated to lenders 8/12/ to 813. So rate tables started to change towards evening of 8/13.
Additionally the UMBS dip was reversed on Friday and the positive aspect of this will usually take 2 to 3 days to enter rate tables....likely begin seeing lower rates Tuesday or Wednesday next if the trend continues but if the trend reverses they will likely stay what they are as of Friday/today.
Thanks, I will keep an eye next week.
Reply

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Joined Aug 2012
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> bubble2 1,519 Posts
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HarryS4062
08-15-2020 at 01:52 PM.
08-15-2020 at 01:52 PM.
Quote from refitime2 :
#1 closed this week and funds next week. #2 is in underwriting. What should I tell #2 and when should I tell them?
bye bye
Reply
Joined Nov 2011
L5: COVID-19 Warrior
> bubble2 1,187 Posts
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Zwitterion
08-15-2020 at 05:06 PM.
08-15-2020 at 05:06 PM.
Quote from HarryS4062 :
G-Fee increased for all refi loans 15, 30, ARM, 20, everything and does not matter what your LTV is.
G-FEE increase was documented on 8/12 and communicated to lenders 8/12/ to 813. So rate tables started to change towards evening of 8/13.
Additionally the UMBS dip was reversed on Friday and the positive aspect of this will usually take 2 to 3 days to enter rate tables....likely begin seeing lower rates Tuesday or Wednesday next if the trend continues but if the trend reverses they will likely stay what they are as of Friday/today.

Thanks Harry. I think the pullback is as bad as it is because of massive lost profits on locked loans. Lenders are apparently tightening purchase loans despite the LLPA not even affecting them.
1
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Joined Oct 2005
Been here forever....
> bubble2 77 Posts
rsb567
08-15-2020 at 08:22 PM.
08-15-2020 at 08:22 PM.
Just a quick question if someone can weigh in on the best deal I've gotten, to see if it's worth continuing to shop around:
.58 LTV
15 year jumbo at 2.25 with 0.94 points
Good?
Thanks!
Reply
Last edited by rsb567 August 15, 2020 at 08:36 PM.
Joined Jan 2005
L3: Novice
> bubble2 169 Posts
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faye1218
08-16-2020 at 07:28 AM.
08-16-2020 at 07:28 AM.
Hi all, I am looking to refi in CA...currently have a 3.25% 30 year on our primary residence, credit over 760. I have read the latest on this post and am wanting to find out which lenders are a good place to start to shop for rates? I have used Amerisave several times in the past and was always very happy with them but it seems their website isn't as user friendly as it used to be to be able to shop for rates.

I am seeing a lot on this post about Watermark, LenderFi and LoanCabin. It looks like they all require you to fill out an application or form to move forward. How soon are you able to view and lock rates after filling these forms out? I'm not interested in filling out a bunch of forms and having my credit pulled just to get rates and costs.
Reply
Last edited by faye1218 August 16, 2020 at 07:30 AM.
Joined Sep 2011
L2: Beginner
> bubble2 74 Posts
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jimmyrules712
08-16-2020 at 07:46 AM.
08-16-2020 at 07:46 AM.
Quote from faye1218 :
Hi all, I am looking to refi in CA...currently have a 3.25% 30 year on our primary residence, credit over 760. I have read the latest on this post and am wanting to find out which lenders are a good place to start to shop for rates? I have used Amerisave several times in the past and was always very happy with them but it seems their website isn't as user friendly as it used to be to be able to shop for rates.

I am seeing a lot on this post about Watermark, LenderFi and LoanCabin. It looks like they all require you to fill out an application or form to move forward. How soon are you able to view and lock rates after filling these forms out? I'm not interested in filling out a bunch of forms and having my credit pulled just to get rates and costs.
Owning is CA only so not heavily discussed here but seems to be one of the best if you're in CA. Outside of that the 3 you mentioned have been most reliably giving the best rates but you have to apply and get a quote from a loan agent. Don't go off the rates on their websites. Some people have had luck getting Better or Loan Depot to match a low offer but they didn't even try to compete for me.
Reply
Joined Jun 2007
L8: Grand Teacher
> bubble2 3,123 Posts
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nicemann
08-16-2020 at 07:57 AM.
08-16-2020 at 07:57 AM.
Quote from faye1218 :
Hi all, I am looking to refi in CA...currently have a 3.25% 30 year on our primary residence, credit over 760. I have read the latest on this post and am wanting to find out which lenders are a good place to start to shop for rates? I have used Amerisave several times in the past and was always very happy with them but it seems their website isn't as user friendly as it used to be to be able to shop for rates.

I am seeing a lot on this post about Watermark, LenderFi and LoanCabin. It looks like they all require you to fill out an application or form to move forward. How soon are you able to view and lock rates after filling these forms out? I'm not interested in filling out a bunch of forms and having my credit pulled just to get rates and costs.

Check out https://hightechlending.mortgagew...CheckRates they will give you rates and costs right on that website and are based on CA.
Reply
Joined Sep 2011
L2: Beginner
> bubble2 74 Posts
30 Reputation
jimmyrules712
08-16-2020 at 08:03 AM.
08-16-2020 at 08:03 AM.
Quote from faye1218 :
Hi all, I am looking to refi in CA...currently have a 3.25% 30 year on our primary residence, credit over 760. I have read the latest on this post and am wanting to find out which lenders are a good place to start to shop for rates? I have used Amerisave several times in the past and was always very happy with them but it seems their website isn't as user friendly as it used to be to be able to shop for rates.

I am seeing a lot on this post about Watermark, LenderFi and LoanCabin. It looks like they all require you to fill out an application or form to move forward. How soon are you able to view and lock rates after filling these forms out? I'm not interested in filling out a bunch of forms and having my credit pulled just to get rates and costs.
Regarding your other questions, it varies by lender. Some of them will contact you within a day of applying and give you a quote over phone or email. Some are so backlogged it may be weeks until you hear from them but when you eventually do you'll get a competitive quote.

Regarding your last sentence...the only lenders giving these really good sub 3% quotes are tiny and overwhelmed with applicants. They don't have time to mess around with applicants who aren't serious. Putting in the small amount of work to submit an application and show you're serious is the price of admission.
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Joined Aug 2020
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> bubble2 108 Posts
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PeterLegend
08-16-2020 at 08:42 AM.
08-16-2020 at 08:42 AM.
Quote from faye1218 :
Hi all, I am looking to refi in CA...currently have a 3.25% 30 year on our primary residence, credit over 760. I have read the latest on this post and am wanting to find out which lenders are a good place to start to shop for rates? I have used Amerisave several times in the past and was always very happy with them but it seems their website isn't as user friendly as it used to be to be able to shop for rates.

I am seeing a lot on this post about Watermark, LenderFi and LoanCabin. It looks like they all require you to fill out an application or form to move forward. How soon are you able to view and lock rates after filling these forms out? I'm not interested in filling out a bunch of forms and having my credit pulled just to get rates and costs.
Hi, I'm in the similar boat as you, currently I have a 3.25% 30 year fixed loan in Southern California. House is worth at least 560K and I owe 414K, I applied to LenderFi thanks to the link above and Loan Cabin, I'll probably apply to High Tech Lending too. At the very least i get Loan Estimates with the only drawback of getting my credit pulled. I'm hoping to get at least 2.625% with little or no closing costs based on what I have seen other people get...

I also had a question for some of the folks here that used Better.com to match, do I just email my Loan Estimate to "[email protected]" and wait for a response? Just want to be ready.
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Last edited by PeterLegend August 16, 2020 at 08:51 AM.
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