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

5,052 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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Joined Jul 2006
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shahhere
10-20-2020 at 09:00 AM.
10-20-2020 at 09:00 AM.
Quote from zukuri :
I was trying "aggressive refinance" on my property.
My third refinance was on going with Better.com after my second was funded a week ago.
Here's the email I got when they told me they will withdraw my application.

"Unfortunately due to federal regulations, we are unable to proceed with the application as there are certain red flags when doing multiple refis on the same property. I double checked with my team and we will have to withdraw and have you reapply later on since the terms have changed."

This sounds like a pure scare tactic btw. Please ask the lender or the loan officer what "Federal Regulation" is being quoted here as there isn't any regulation that prevents you from refinancing your property as long as its the single loan you are acquiring at the same time and so doing one after the first one closes qualifies literally the day after.


Shahhere
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Joined Jul 2006
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shahhere
10-20-2020 at 09:08 AM.
10-20-2020 at 09:08 AM.
Quote from Letsgogogo :
Did anyone get the 0.5% refund check from better.com?

Speaking of this; no but I did follow up last week and they said they'll send the refund asap but no dice as of today.......




Shahhere
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Joined Sep 2009
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> bubble2 550 Posts
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mamakat
10-20-2020 at 09:37 AM.
10-20-2020 at 09:37 AM.
Quote from presto987 :
Radian is now working with Loan Cabin (as of last week). I am doing a refi with LC right now and got a quote from Radian last week.

They quoted me $900 for title/settlement in CA, which is the same as what they quoted when I did a refi with Better. This may vary based on your loan amount.

Sorry, I have another question. I know very little about all these fees and never questioned them when I purchased my house..

The title Co I used for my purchase quoted this as discounted rates:
600- title
450- escrow
200- notary
25- recording fee
65- recording dt est
75- endor est

So does Radian's fee cover all those items? That'd be awesome!

Unfortunately my county also charges a $225 "affordable housing" fee, which I guess I can't avoid.. so I'll be paying $450 this year for that (bought my house in January)- ugggh, wth ?
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presto987
10-20-2020 at 09:47 AM.
10-20-2020 at 09:47 AM.
Quote from mamakat :
Sorry, I have another question. I know very little about all these fees and never questioned them when I purchased my house..

The title Co I used for my purchase quoted this as discounted rates:
600- title
450- escrow
200- notary
25- recording fee
65- recording dt est
75- endor est

So does Radian's fee cover all those items? That'd be awesome!

Unfortunately my county also charges a $225 "affordable housing" fee, which I guess I can't avoid.. so I'll be paying $450 this year for that (bought my house in January)- ugggh, wth ?
Yes, Radian's quote should cover all these items. That is my expectation at least. That is one of the nice things about them - they don't nickel and dime you like some companies do.

Regarding the CA affordable housing fee, it is $75 per document per parcel of property, subject to a max of $225. So for most refis, you should only have to pay $75. Often lenders will include the full $225 in the LE as a conservative estimate, and then it goes down to $75 in your closing disclosure.
Reply
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SoapOpera
10-20-2020 at 09:51 AM.
10-20-2020 at 09:51 AM.
Quote from shahhere :
Speaking of this; no but I did follow up last week and they said they'll send the refund asap but no dice as of today.......




Shahhere
what is this refund for btw? I closed with better in late august.
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presto987
10-20-2020 at 09:54 AM.
10-20-2020 at 09:54 AM.
Quote from SoapOpera :
what is this refund for btw? I closed with better in late august.
This is for people who locked in mid- to late-August when the 0.5% refi fee had initially been announced with a September 1 start date. For those people, Better would have priced in the 0.5% fee, but since the fee got delayed, they are offering a refund.
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SoapOpera
10-20-2020 at 09:56 AM.
10-20-2020 at 09:56 AM.
Quote from presto987 :
This is for people who locked after the 0.5% refi fee had initially been announced and before the fee was delayed to December 1. For those people, Better would have priced in the 0.5% fee, but since it got delayed, they are offering a refund.
hmm, i closed on August 28th, i guess i will wait and see if it shows up in the mail.
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presto987
10-20-2020 at 10:04 AM.
10-20-2020 at 10:04 AM.
Quote from SoapOpera :
hmm, i closed on August 28th, i guess i will wait and see if it shows up in the mail.
You probably locked before the fee was announced on August 12. In that case you shouldn't get a refund. Plus I think they emailed anyone who they deemed eligible.
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cdancer20
10-20-2020 at 12:56 PM.
10-20-2020 at 12:56 PM.
Quote from ghounds07 :
Just closed on Saturday (24 days for whole process):

2.75% via LenderFi, no appraisal needed (removed PMI because of their gangbuster auto appraisal)
9/23 locked rate
10/17 closed

Very happy with the process, thanks all!
Quote from dealz2012 :
I am currently 7 days since signing LE for this exact scenario with lenderfi. 2.75% with no cost. Very easy up to this point. I also got a much higher than anticipated appraisal waiver valuation.

Somehow it already is being prepared for closing (just signed closing disclosure), not sure how much longer from this step but fingers crossed it's quick.
What was your lender credit with them? Their rates have been up and down but for my first refinance, I matched to LenderFi. They appraised me really high as well. However, after my appraisal came back with Better.com, it went down quite a bit and they knocked off some of the lender credit they had matched from Better. Second time, they gave me another high appraisal and promised me that I wouldn't need an appraisal so no need to worry about it changing.
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cdancer20
10-20-2020 at 01:09 PM.
10-20-2020 at 01:09 PM.
Quote from zukuri :
I was trying "aggressive refinance" on my property.
My third refinance was on going with Better.com after my second was funded a week ago.
Here's the email I got when they told me they will withdraw my application.

"Unfortunately due to federal regulations, we are unable to proceed with the application as there are certain red flags when doing multiple refis on the same property. I double checked with my team and we will have to withdraw and have you reapply later on since the terms have changed."
Quote from shahhere :
This sounds like a pure scare tactic btw. Please ask the lender or the loan officer what "Federal Regulation" is being quoted here as there isn't any regulation that prevents you from refinancing your property as long as its the single loan you are acquiring at the same time and so doing one after the first one closes qualifies literally the day after.


Shahhere
When I got ready to do my second lock with Better in August, I was asked to delay my closing 3 months because they had to pay a fee to TMS for a new closing within 6 months. I wonder if this is part of the reason that they are denying you. In the end, I didn't do that and I guess they just had to pay the fee.
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shahhere
10-20-2020 at 02:05 PM.
10-20-2020 at 02:05 PM.
Quote from cdancer20 :
When I got ready to do my second lock with Better in August, I was asked to delay my closing 3 months because they had to pay a fee to TMS for a new closing within 6 months. I wonder if this is part of the reason that they are denying you. In the end, I didn't do that and I guess they just had to pay the fee.

If you refinance before 6 months the lender/broker generally looses their commission. This sadly is purely internal to each lender and is not something that is passed on to you and since there are no laws preventing you from doing this is more of if you like the last lender you were working with or not....


Better has been trying to use this tactic but technically cannot deny you with your loan process, without lying about why to be honest is what i think.



Shahhere
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dealz2012
10-20-2020 at 04:04 PM.
10-20-2020 at 04:04 PM.
Quote from cdancer20 :
What was your lender credit with them? Their rates have been up and down but for my first refinance, I matched to LenderFi. They appraised me really high as well. However, after my appraisal came back with Better.com, it went down quite a bit and they knocked off some of the lender credit they had matched from Better. Second time, they gave me another high appraisal and promised me that I wouldn't need an appraisal so no need to worry about it changing.
1600 lender credit, covered all the closing costs other than prepaids.

I am sure if I shopped it like some here I may have gotten a higher credit for that rate, but I have a little unique situation where I would rather just lock in this 2.75.

Especially my gut is telling me these rates are going to reverse trend soon. Worst case I'll refi again if they get closer to 2.25...
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SplendidCircle329
10-20-2020 at 05:05 PM.
10-20-2020 at 05:05 PM.
Quote from presto987 :
Yes, Radian's quote should cover all these items. That is my expectation at least. That is one of the nice things about them - they don't nickel and dime you like some companies do.

Regarding the CA affordable housing fee, it is $75 per document per parcel of property, subject to a max of $225. So for most refis, you should only have to pay $75. Often lenders will include the full $225 in the LE as a conservative estimate, and then it goes down to $75 in your closing disclosure.
What about settlement fee?
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presto987
10-20-2020 at 05:47 PM.
10-20-2020 at 05:47 PM.
Quote from SplendidCircle329 :
What about settlement fee?
My quote from Radian was $450 for title insurance and $450 for settlement fee.
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PeterPan2002
10-20-2020 at 05:53 PM.
10-20-2020 at 05:53 PM.
Just found out about this thread and thanks everyone for the knowledge. It is so much information out there.

I am owning a house that I bought in the summer 2020 with a jumbo loan and 3.875% rate. My mistake, I didn't shop online.

Now i sold my own house and prepaid the mortgage to bring down the mortgage to < 765K to refinance to conforming loan with high balance in CA

I got LE from better.com for 2.65% for 15 yrs with about $3700 closing cost
Also just got a quote by phone with Owning.com for 2.5% with no closing cost.

My question is if the rate i find is the lowest or should i shop some more. Thanks everyone
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