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

5,427 1,744 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
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Quote from MeAPhool View quoted comment :
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 View quoted comment :
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 View quoted comment :
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 2006
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runner0382
12-12-2020 at 02:48 PM.
12-12-2020 at 02:48 PM.
Quote from scottman View quoted comment :
Not stupid. Has title been ordered and cleared? If not, email radian for a quote with lender, loan info, address and let your lender know you would like to use them, assuming they work with them.
I don't believe it has. Thank you.
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Joined Apr 2007
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krwshl
12-12-2020 at 08:20 PM.
12-12-2020 at 08:20 PM.
Have shopped around quite a bit. Home value $505K and mortgage $386K = 76.4% LTV. 803 credit score. Current rate is 3.75.

Better is offering 2.875% with no closing costs, have the LE. D 1,999 + E 198 - lender credit -2,275 = -78.

Lenderfi claimed they could do 2.75% with no closing costs, but have not seen the LE yet. Is this good enough to lock with Better or would you hold out to see Lenderfi's LE first? Better would save me $228 a month and break even is immediate ... not sure what to do. Any help is appreciated.
Reply
Last edited by krwshl December 12, 2020 at 08:26 PM.
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presto987
12-12-2020 at 11:18 PM.
12-12-2020 at 11:18 PM.
Quote from krwshl View quoted comment :
Have shopped around quite a bit. Home value $505K and mortgage $386K = 76.4% LTV. 803 credit score. Current rate is 3.75.

Better is offering 2.875% with no closing costs, have the LE. D 1,999 + E 198 - lender credit -2,275 = -78.

Lenderfi claimed they could do 2.75% with no closing costs, but have not seen the LE yet. Is this good enough to lock with Better or would you hold out to see Lenderfi's LE first? Better would save me $228 a month and break even is immediate ... not sure what to do. Any help is appreciated.
With Better, you still have the ability to request price matches after you lock. So no harm in locking while you wait for LenderFi's LE. Once you get the LE from LenderFi, if they have a better offer, then you can either go with them or ask Better to beat it.
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krwshl
12-12-2020 at 11:28 PM.
12-12-2020 at 11:28 PM.
Quote from presto987 View quoted comment :
With Better, you still have the ability to request price matches after you lock. So no harm in locking while you wait for LenderFi's LE. Once you get the LE from LenderFi, if they have a better offer, then you can either go with them or ask Better to beat it.
Thanks for the reply. Looks like I have to pay $550 at better for the appraisal to lock. Though it can be refunded anytime before appraisal. Does that sound right?
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kittynpony
12-12-2020 at 11:36 PM.
12-12-2020 at 11:36 PM.
My first refi was done around 9/2020 @ rate of 2.625% for 30 years. Is it worth it to do the refi again now?

Also, is Loan Cabin still pretty slow in responding? Last time they offered 2.5% but I was afraid of the super slow process, so I went with 2.625% with WM. This time when I did a quote on their website, the rate is 2.25% for 30 years. I never locked and never cancelled with LC last time. I replied to Samantha via our old email to see if I need to reapply. However, I am afraid that it will take weeks before she respond so I reapplied anyways, but now the system wouldn't let me submit the application. Have anyone encounter the same problem?

By the way, Better doesn't keep promise of their price match guarantee. During my 1st refinance, Better LO cannot match the rate, so I asked him about the 100$ if they cannot match. (in case anyone doesn't know what I'm referring to: on Better's website they stated that if Better cannot match, they will give you 100$ after you close with another lender.) I sent my LO the screenshot of the offer. He told me to email the customer service and include the CD of the LE that Better cannot match to file a claim for 100$. I emailed customer service and CC my LO twice after I closed, nothing happened. They probably only care about the one that they beat by 100$.
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Last edited by kittynpony December 12, 2020 at 11:39 PM.
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jimmyrules712
12-13-2020 at 08:05 AM.
12-13-2020 at 08:05 AM.
I'm tired of waiting on LC so I"m going to submit some new applications.

Who are the lenders these days that will usually provide a really good quote on the initial request (rather than those like Better and Loan Depot who will only make a good offer when asked to match a competing LE)?

I know LenderFI, Watermark, Loan Cabin, and Owning (CA only) are among that group. Any others? I don't know if LenferFI will give me a quote since I backed out on a refi with them earlier this year when rates dropped and I'm not in CA so can't use owning. Trying Watermark but would like to have other options.
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Last edited by jimmyrules712 December 13, 2020 at 08:08 AM.
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GBusCrs
12-13-2020 at 08:10 AM.
12-13-2020 at 08:10 AM.
Quote from kittynpony View quoted comment :
My first refi was done around 9/2020 @ rate of 2.625% for 30 years. Is it worth it to do the refi again now?

Also, is Loan Cabin still pretty slow in responding? Last time they offered 2.5% but I was afraid of the super slow process, so I went with 2.625% with WM. This time when I did a quote on their website, the rate is 2.25% for 30 years. I never locked and never cancelled with LC last time. I replied to Samantha via our old email to see if I need to reapply. However, I am afraid that it will take weeks before she respond so I reapplied anyways, but now the system wouldn't let me submit the application. Have anyone encounter the same problem?

By the way, Better doesn't keep promise of their price match guarantee. During my 1st refinance, Better LO cannot match the rate, so I asked him about the 100$ if they cannot match. (in case anyone doesn't know what I'm referring to: on Better's website they stated that if Better cannot match, they will give you 100$ after you close with another lender.) I sent my LO the screenshot of the offer. He told me to email the customer service and include the CD of the LE that Better cannot match to file a claim for 100$. I emailed customer service and CC my LO twice after I closed, nothing happened. They probably only care about the one that they beat by 100$.
I wouldn't go with LC again. They are way over 100 days since lock for many of us. I also had the same experience with Better. They wouldn't match and they wouldn't give the $100 either.
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MitchD14
12-13-2020 at 08:21 AM.
12-13-2020 at 08:21 AM.
Quote from krwshl View quoted comment :
Thanks for the reply. Looks like I have to pay $550 at better for the appraisal to lock. Though it can be refunded anytime before appraisal. Does that sound right?
It will be refunded if your withdraw your application before an appraisal is done or if you close without an appraisal. I was able to have them lock over the phone after they told me that I had an appraisal waiver without putting down the appraisal deposit. It took a little convincing but they told me that they could lock manually and I never paid the deposit.
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JAC702
12-13-2020 at 08:22 AM.
12-13-2020 at 08:22 AM.
Quote from jimmyrules712 View quoted comment :
I'm tired of waiting on LC so I"m going to submit some new applications.

Who are the lenders these days that will usually provide a really good quote on the initial request (rather than those like Better and Loan Depot who will only make a good offer when asked to match a competing LE)?

I know LenderFI, Watermark, Loan Cabin, and Owning (CA only) are among that group. Any others? I don't know if LenferFI will give me a quote since I backed out on a refi with them earlier this year when rates dropped and I'm not in CA so can't use owning. Trying Watermark but would like to have other options.
I had LD match my LC LE in November even tho LC LE was dated September 2020. I tried the same with Ally but they said LE has to be recently dated so they wouldn't match for me.

Luckily I am hopefully closing with LC in 2 days...lock to signing date = 98 long days.
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jimmyrules712
12-13-2020 at 10:00 AM.
12-13-2020 at 10:00 AM.
Quote from JAC702 View quoted comment :
I had LD match my LC LE in November even tho LC LE was dated September 2020. I tried the same with Ally but they said LE has to be recently dated so they wouldn't match for me.

Luckily I am hopefully closing with LC in 2 days...lock to signing date = 98 long days.
I locked with LC around 130 days ago and still don't have a closing date. Given how long it's been I don't think anyone is going to match the LE I got from LC back the first week of august and I can't exactly use them to get a new LE for others to match.
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presto987
12-13-2020 at 10:59 AM.
12-13-2020 at 10:59 AM.
Quote from jimmyrules712 View quoted comment :
I locked with LC around 130 days ago and still don't have a closing date. Given how long it's been I don't think anyone is going to match the LE I got from LC back the first week of august and I can't exactly use them to get a new LE for others to match.
You might still be able to use the LE with folks like LD. Rates now are similar to what they were in August, actually probably a little better despite the 0.5% g-fee. If you are in process with LC then there is no reason why LD shouldn't try to beat your current offer.
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kittynpony
12-13-2020 at 11:16 AM.
12-13-2020 at 11:16 AM.
Quote from GBusCrs View quoted comment :
I wouldn't go with LC again. They are way over 100 days since lock for many of us. I also had the same experience with Better. They wouldn't match and they wouldn't give the $100 either.
Thanks for your reply on both LC and Better. I guess the system is hinting me to not go with LC again lol
Reply
Last edited by kittynpony December 14, 2020 at 10:51 PM.
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krwshl
12-13-2020 at 01:52 PM.
12-13-2020 at 01:52 PM.
Quote from MitchD14 View quoted comment :
It will be refunded if your withdraw your application before an appraisal is done or if you close without an appraisal. I was able to have them lock over the phone after they told me that I had an appraisal waiver without putting down the appraisal deposit. It took a little convincing but they told me that they could lock manually and I never paid the deposit.
Thank you. My lender credit decreased from 2,300 to 1,900 with my waiting. Hope it bounces back up now.

Still hoping to see Lenderfi LE with 2.75 and no closing costs too. Hope rates don't go up tomorrow 😑
Reply
Last edited by krwshl December 13, 2020 at 01:56 PM.
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jimmyrules712
12-13-2020 at 02:25 PM.
12-13-2020 at 02:25 PM.
Quote from presto987 View quoted comment :
You might still be able to use the LE with folks like LD. Rates now are similar to what they were in August, actually probably a little better despite the 0.5% g-fee. If you are in process with LC then there is no reason why LD shouldn't try to beat your current offer.
I'll go ahead and apply at LD and give it a shot but I'm not optimistic.

The offer I locked with LC on August 5th was 30 yr 2.625% with $2k credit, $242k loan. Just tried applying with LenderFI and the offer they gave me was 2.625% with only a $600 credit so that makes me skeptical anyone else is going to beat the 4 month old LC offer.
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presto987
12-13-2020 at 03:30 PM.
12-13-2020 at 03:30 PM.
Quote from jimmyrules712 View quoted comment :
I'll go ahead and apply at LD and give it a shot but I'm not optimistic.

The offer I locked with LC on August 5th was 30 yr 2.625% with $2k credit, $242k loan. Just tried applying with LenderFI and the offer they gave me was 2.625% with only a $600 credit so that makes me skeptical anyone else is going to beat the 4 month old LC offer.
LC's pricing would normally be better than LenderFi's anyway, so your data points suggest to me that the pricing now is similar to what it was when you locked.

LD can be hit or miss, so your best bet is to find an LO with whom others have had success and apply through that LO's link. Of course they have to be licensed in your state. Happy to provide the name of my LO if helpful.
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