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

4,825 1,716 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 Aug 2008
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mrchiltu
02-11-2022 at 06:36 AM.
02-11-2022 at 06:36 AM.
I tried Radian for titles but they said they don't do in NJ.

Any one has a good recommendation for the titles in NJ that is reasonable and good?

thanks.
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pnreddy413
02-17-2022 at 05:50 AM.
02-17-2022 at 05:50 AM.
Hi Friends, I was shopping for below loan amount in NC.
Purchase price : 712855
Down payment:142571 (20%)
Single family home
Primary home.

Bank of America offering 3.625 with 1693 lender credit and loan cost 4000 including all the fee. Is there any way to beat this.
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HarryS4062
02-28-2022 at 02:03 PM.
02-28-2022 at 02:03 PM.
Anyone have experience with semper home loans. On today's Bankrate comparison, they appear to be the lowest for 30 year fixed by at least a 1/2 percentage point.
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incarnate
03-20-2022 at 10:42 AM.
03-20-2022 at 10:42 AM.
Quote from drofpm :
I am looking to purchase a home that needs significant work, so looking to do a 10% down and use the balance of our funds for the renovation and later either refinance or have a PMI removed through an appraisal. I need to go with Better as I am using their real estate services for the rebates as well as potentially using their cash offer program. How quickly would I be able to refinance the house once it is purchased considering I would have PMI on it, my goal is to quickly refi'ed itonce the renovations are in place. Better isn't the best rate, I am seeing a 10/1arm @ 2.5 as a local credit union - not sure if they will bother matching that as they have me by the balls given the real estate services - given the the large rebates I am ok to pay a higher rate for about 6 months knowing i can refi.
Do you have any idea how many thousands of dollars closing costs are on any mortgage? This isn't a car loan where you can refi immediately at no cost.
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drofpm
03-22-2022 at 10:44 AM.
03-22-2022 at 10:44 AM.
Quote from incarnate :
Do you have any idea how many thousands of dollars closing costs are on any mortgage? This isn't a car loan where you can refi immediately at no cost.
Yes. I have done multiple refis in the past. They cost me about $3-4K, small price to pay to secure a home.
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incarnate
03-24-2022 at 03:36 PM.
03-24-2022 at 03:36 PM.
Quote from drofpm :
Yes. I have done multiple refis in the past. They cost me about $3-4K, small price to pay to secure a home.
Your post wasn't about securing a home. It was about refinancing very soon after financing it. You will want to do the math to see how long it will take before you make that $3-4k back in interest savings. That amount sounds low, too.

a 10/1 ARM doesn't seem like the best unless you absolutely plan to be out of the house before then, or pay it off by then. Rates on a 30 yr fixed are still near historic lows, even though they are higher than they were a year ago. Rates in the early 2000's were over 8%
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Last edited by incarnate March 24, 2022 at 03:44 PM.
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adamh007
03-26-2022 at 07:34 PM.
03-26-2022 at 07:34 PM.
After seeing mortgage rates jump almost 50 basis points this week, I'm wondering if this marks the end of the low rate era (2-3% rates). Most of the mortgage loan aggregator sites are showing 4.5%+ for 30 year fixed rates.

Anyone know any other lenders to try for a NJ based property purchase?
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supersherry
04-13-2022 at 02:55 PM.
04-13-2022 at 02:55 PM.
Looking at these mortgage rates from even a few weeks ago makes me very sad.
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atamanah
05-09-2022 at 06:18 AM.
05-09-2022 at 06:18 AM.
Quote from supersherry :
Looking at these mortgage rates from even a few weeks ago makes me very sad.
It was a good run.... I did two in two years... would have been closer, but Texas requires a year on the cash out...

Went from 30yr at 3.75 for a 90/10 to a 20yr with cash out at 2.5 to a 15yr at 2.0. My only regret was not buying down to 1.875% just to say my mortgage was below 2...
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TealApparel5587
05-24-2022 at 06:42 AM.
05-24-2022 at 06:42 AM.
Excellent discussion. I live in Wisconsin and am considering refinancing. The sites [cloptoncapital.com] listed in this thread don't appear to have a WI option. (LoanCabin - 15 states without WI, and owning appears to be limited to California) Any other searches or suggestions?
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aztony
05-01-2023 at 11:54 PM.
05-01-2023 at 11:54 PM.
I'm looking to sell my current home (AZ) and buy another house. The mortgage won't be for much, maybe about $100k, I'm planning on putting a large deposit on the new house ($350k or less). I noticed the mortgage company recommendations on the first page are a couple of years old. Are they still the companies to contact?
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Original Poster
shahhere
05-02-2023 at 04:30 AM.
05-02-2023 at 04:30 AM.
Quote from aztony :
I'm looking to sell my current home (AZ) and buy another house. The mortgage won't be for much, maybe about $100k, I'm planning on putting a large deposit on the new house ($350k or less). I noticed the mortgage company recommendations on the first page are a couple of years old. Are they still the companies to contact?

Sadly, I am not longer managing the OP and have been out of this thread for a while as the rates and deals dried up (I also was no longer shopping and did not have time to shop and update the current rates).



Use the places on the first page as a shopping guidance as many are still around but not idea what their rates and deals are today.


Shahhere
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FurleyDuck
05-15-2023 at 09:20 PM.
05-15-2023 at 09:20 PM.
For that low of a loan amount I would check with smaller local banks and credit unions.
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fintlewoodlewix
05-17-2023 at 09:43 AM.
05-17-2023 at 09:43 AM.
Quote from shahhere :
Sadly, I am not longer managing the OP and have been out of this thread for a while as the rates and deals dried up (I also was no longer shopping and did not have time to shop and update the current rates).



Use the places on the first page as a shopping guidance as many are still around but not idea what their rates and deals are today.


Shahhere
I'd go to bankrate.com and see what they offer. Those are the high pressure sales companies who will often offer a great rate. Then I'd call around some local banks and credit unions. You can also check with a well-regarded broker near you.

A broker is great because they can shop around for you, and they often can grease the wheels of getting the loan done. A local bank may write a loan that other banks will not. Credit unions sometimes have better rates. Banks and middlemen found through a place like bankrate often have fantastic rates, but then they don't care about you, so they can be a pain in the butt to deal with. I did a refinance through a company I found on bankrate, and the rate was fantastic, but the process for a 350k loan was horrifically slow and painful. Then I did a business loan through a mid-size national bank's local branch, and that was even worse. Right before those two, I did a loan through a small regional bank, and I befriended the loan agent. It went smooth as greased silk.

YMMV.
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dj24
06-30-2023 at 11:52 PM.
06-30-2023 at 11:52 PM.
First Time (Scared) Homebuyer

Looking for our first mortgage and dreading starting as a complete noob let alone going through with the process. We've always rented (not feasible or affordable anymore) and as cheapskates who thrive on paying off everything in full a.s.a.p the first day the bills arrive and absolutely abhor owing anyone anything, this is absolutely terrifying knowing that this is the single most expensive decision we will possibly make in our lives.

My fiancée and I have decided that once we find and purchase our first home- it will be our first and final one and will hope the rates get lower in the future which we will then hopefully allow us to refinance as many times as possible.

Our current budget for a home is 350k- 450k; Combined annual income is approx $115k with zero debt to our name; Our credit scores range between 780-795; Savings of 50k ready for our down payment.

I guess my question is- where do we begin? Is there a mortgage 101 for dummies (videos, books, online sites etc) that will get us started and give us some confidence moving forward that you guys recommend? We would love it if there was a mortgage broker that we can hire here in Las Vegas where we are looking to purchase that would truly work and look out only for us without getting something on the side from the companies they end up recommending but I'm not sure if truly independent brokers that look out only for the buyers like that even exist...

Thanks for letting me share our fear and anxiety... It feels truly daunting..
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Last edited by dj24 July 2, 2023 at 04:58 PM.
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