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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
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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 Aug 2012
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HarryS4062
09-09-2020 at 06:58 AM.
09-09-2020 at 06:58 AM.
Quote from MadeInAP :
Gurus, I finally received my rate sheet from LC. What do you think of the below rates? When it says closing cost 0, what does it include? Need your advice. Thanks.

15 year fixed – 60 day lock – Waived Escrow
IMHO, it could be better. If Watermark is in your state you could try there or wait a few days if that works for you. I think WM gives the best rates for 15 fixed at least that was the case as of last month when I got LE from them for 2.25 with 0.9% in credits. Though they have 1400 in fee that would still translate to 800+ in credits for a 250K loan.
Also someone here posted a few pages back that they got 1.99 with small lender credit from loan cabin. So it might just be that you got it on a day when rates were a bit higher. Again the difference would not be huge on the smaller loans - probably about 1K in credits would be the swing.

Edit: When it says 0 closing costs on Loan cabin estimate it means 0 points from what is posted here previously as well.
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Joined Aug 2020
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rel8200
09-09-2020 at 07:07 AM.
09-09-2020 at 07:07 AM.
Does anyone know if Loan Depot offers a free float down option? I locked on August 13th, and I'm considering asking them if they have a free float down (I don't know if rates are better or not), but I'd like to know if others have had success before I ask. Thanks!
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Joined Jan 2020
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Rocketmon
09-09-2020 at 07:51 AM.
09-09-2020 at 07:51 AM.
Does Better.com match/beat rates? It's not clear here - sorry if this has been asked.

I see Loan Cabin has phenomenal rates, but not really comfortable going with a small operation - also they require Escrow for the lowest rates - I prefer not to Escrow. I don't think Better requires escrow based on FAQs I found...but its unclear if it impacts rates.
Reply
Joined Oct 2010
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k1ngkev1n1
09-09-2020 at 07:57 AM.
09-09-2020 at 07:57 AM.
Quote from Rocketmon :
Does Better.com match/beat rates? It's not clear here - sorry if this has been asked.

I see Loan Cabin has phenomenal rates, but not really comfortable going with a small operation - also they require Escrow for the lowest rates - I prefer not to Escrow. I don't think Better requires escrow based on FAQs I found...but its unclear if it impacts rates.
yes been said abunch of times.

thanks,
Reply
Joined Jan 2020
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Rocketmon
09-09-2020 at 08:05 AM.
09-09-2020 at 08:05 AM.
Quote from k1ngkev1n1 :
yes been said abunch of times.

thanks,

How do you get them to. Match ?

And why do I see lower better.com rates on bankrate vs their own site ? Do I get a lower rate by clicking tHrough?
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Joined Apr 2007
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presto987
09-09-2020 at 08:08 AM.
09-09-2020 at 08:08 AM.
Quote from Rocketmon :
Does Better.com match/beat rates? It's not clear here - sorry if this has been asked.

I see Loan Cabin has phenomenal rates, but not really comfortable going with a small operation - also they require Escrow for the lowest rates - I prefer not to Escrow. I don't think Better requires escrow based on FAQs I found...but its unclear if it impacts rates.
I recently locked with Loan Cabin. In my case, there was no pricing benefit for having escrow. Although the website shows an escrow benefit sometimes, the website is not always exact when pricing the different parameters.
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Joined Jan 2020
The Maestro
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Rocketmon
09-09-2020 at 08:14 AM.
09-09-2020 at 08:14 AM.
Quote from presto987 :
I recently locked with Loan Cabin. In my case, there was no pricing benefit for having escrow. Although the website shows an escrow benefit sometimes, the website is not always exact when pricing the different parameters.
how has you experience been with loan cabin>?
and why did you go with them vs Better?
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pogchamp
09-09-2020 at 08:17 AM.
09-09-2020 at 08:17 AM.
Quote from Rocketmon :
How do you get them to. Match ?

And why do I see lower better.com rates on bankrate vs their own site ? Do I get a lower rate by clicking tHrough?

They are very upfront about the whole process if you speak with someone. They will match/beat an offer but the catch is the competing offer must be dated within one business day. I found the rates without match were not very competitive. I even told them this when they contacted me after applying. they actually suggested that I send them a competitive loan estimate and they will counter offer
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weigojmi
09-09-2020 at 08:29 AM.
09-09-2020 at 08:29 AM.
Quote from pogchamp :
They are very upfront about the whole process if you speak with someone. They will match/beat an offer but the catch is the competing offer must be dated within one business day. I found the rates without match were not very competitive. I even told them this when they contacted me after applying. they actually suggested that I send them a competitive loan estimate and they will counter offer
On top of that they have a mandatory item in their Tasks list to upload a competing LE. Even after I chose to "skip" I had to explain why. And after all that its still there...kinda odd.
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Joined Jan 2020
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Rocketmon
09-09-2020 at 08:43 AM.
09-09-2020 at 08:43 AM.
Quote from weigojmi :
On top of that they have a mandatory item in their Tasks list to upload a competing LE. Even after I chose to "skip" I had to explain why. And after all that its still there...kinda odd.
so what are you guys saying? avoid Better.com? And go with Loan Cabin?
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MeAPhool
09-09-2020 at 08:49 AM.
09-09-2020 at 08:49 AM.
Quote from Rocketmon :
so what are you guys saying? avoid Better.com? And go with Loan Cabin?
Regardless of your decision, you need a LE from Loan Cabin and that takes time.
Why?

1) You need LC LE to have better.com match
2) You are going with LC period.

The real question is which other lenders do you plan to apply with. You should apply with LC first but just know other lender's will get you LE faster so you'll have to wait on LC's Loan Estimate if you plan to use it for a match.
Reply
Joined Apr 2007
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presto987
09-09-2020 at 08:51 AM.
09-09-2020 at 08:51 AM.
Quote from Rocketmon :
how has you experience been with loan cabin>?
and why did you go with them vs Better?
I recently closed a refi with Better and had a great experience with them overall. It is true that sometimes they ask for too many things in their Tasks list, but ultimately it didn't bother me very much.

I might go with Better again for the next refi, but in order to get a good deal with Better, you need to get them to price match someone else. Loan Cabin has consistently offered the best pricing, so that is why I have started the process with them. I don't know yet whether I will close with them or ask Better to price match them and go with Better.

The downside with Loan Cabin is that they are extremely busy and therefore slow to respond and slow to close.

One reason I may prefer LC over Better is that Better caps their lender credits at $4,999. I prefer to take a higher interest rate with higher lender credits, and LC does not have this same limitation.
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Joined Jan 2020
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Rocketmon
09-09-2020 at 08:52 AM.
09-09-2020 at 08:52 AM.
Quote from MeAPhool :
Regardless of your decision, you need a LE from Loan Cabin and that takes time.
Why?

1) You need LC LE to have better.com match
2) You are going with LC period.

The real question is which other lenders do you plan to apply with. You should apply with LC first but just know other lender's will get you LE faster so you'll have to wait on LC's Loan Estimate if you plan to use it for a match.

I was planning on better and or loan cabin only

Unless you have some recommendations

I'm looking at 15 and 20 year refi. Perfect credit. No cash out. And half mortgage is paid off I'm in NJ
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Joined Oct 2010
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k1ngkev1n1
09-09-2020 at 09:04 AM.
09-09-2020 at 09:04 AM.
Quote from Rocketmon :
I was planning on better and or loan cabin only

Unless you have some recommendations

I'm looking at 15 and 20 year refi. Perfect credit. No cash out. And half mortgage is paid off I'm in NJ
again start with LC's LE. then get better to match if you want to use them. or just go with LC. either way you need to connect with LC first.
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Joined Jul 2006
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shahhere
09-09-2020 at 09:09 AM.
09-09-2020 at 09:09 AM.
Quote from Rocketmon :
I was planning on better and or loan cabin only

Unless you have some recommendations

I'm looking at 15 and 20 year refi. Perfect credit. No cash out. And half mortgage is paid off I'm in NJ

I am not sure what your question is but sounds like a strategy problem here.

Why do you only plan on applying at those 2 places? I have listed quite a few places on the first post so you should be checking them all out. If the loan amount is larger than $200,000 you'll get favorable pricing from lenders.



Not all lenders will give you their best pricing upfront. Thats where the Pricematching comes in as they will take others LE and then match/beat it. Better is/was an option for people with the Amex offer but without that they are not any better than LC & DaveP.



LC is slow as noted by other so if anything you should apply as it will take them time to get a LE to you and then apply to other places so by the time you get a LE from LC you have something to show other lenders as far as what you expect from them. Note again that applying and locking and providing your SS to run Credit wont drop your score if done within a short timeframe.



Shahhere
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