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Box Home Loans Discounts, Deals and Coupon Codes

Mortgages: Refinance or Purchase at 3.125% with $0 closing costs or even a credit towards closing with Box Home Loans

bryantq 2,195 1,351 June 7, 2012 at 08:15 PM in Home & Home Improvement (7) More Box Home Loans Deals
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Last Edited by bryantq November 28, 2012 at 02:14 PM
Box Home Loans [boxhomeloans.com/slickdeals/] is offering an extra credit of 1/8th of a point on top of their already low rates and fees to Slickdeals users.

This allows some well qualified individuals to refinance or purchase a home at 3.125%* for no cost or even get a credit (they pay you!) towards closing.

Here at Slickdeals, we've actually had several employees use Box Home Loans, and after realizing it was such a good deal, we reached out to them to see if they could offer something even sweeter to our users. We've done a lot of comparison shopping for our own personal homes and Box Home Loans have always been the lowest (so far!) in fees, closing costs and rates! From our personal experience, its fast and no-nonsense.

Box Home Loans services the following states:
  • Arizona
  • California,
  • Colorado,
  • Idaho,
  • Nevada,
  • New Mexico,
  • Oregon,
  • Texas,
  • Utah
  • Washington
To give you guys an idea of the rate comparisons we did some research today*:
RATES ARE ALWAYS CHANGING SO BE SURE TO CHECK THE BOX HOME LOANS WEBSITE FOR CURRENT RATES - ITS EASY, NO EMAIL NECESSARY JUST PLUG IN THE NUMBERS.


Purchase:
LenderRateAPRClosing Costs
Box Home Loans (Slickdeals) [boxhomeloans.com]3.75%3.75%Free + $250 Credit
Box Home Loans (Direct)3.75%3.75%Free
First Internet Bank3.75%3.83%$1621
Amerisave3.75%3.83%$1991
Penfed3.75%3.81%$3562
Chase3.75%3.96%$4314
Box Home Loans (Slickdeals) [boxhomeloans.com]3.625%3.685%$1845
Box Home Loans (Direct)3.625%3.685%$2095
First Internet Bank3.625%3.704%$2649
Amerisave3.625%3.705%$2782
Penfed3.625%3.81%$5812


Refinance:
LenderRateAPRClosing Costs
Box Home Loans (Slickdeals) [boxhomeloans.com]3.75%3.75%Free + $80 Credit
Box Home Loans (Direct)3.75%3.75%Free
First Internet Bank3.75%3.83%$1757
Amerisave3.75%3.83%$565
Penfed3.75%3.8%$2188
Chase4.25%4.32%$3960
Box Home Loans (Slickdeals) [boxhomeloans.com]3.625%3.685%$1845
Box Home Loans (Direct)3.6253.685%$2095
First Internet Bank3.625%3.702%$2785
Amerisave3.625%3.705%$1773
Penfed3.625%3.768%$4438

Assumptions:
  • 30 Year Fixed Conventional Loan
  • $250,000 Home Value
  • $200,000 Loan Value
  • Clark County, Nevada
  • 740+ Credit Score
*Rates and data as of 06/07/2012 10:22am. We can't guarantee the availability of these rates, just showing you as a representative sample when we did the research!

Community Wiki

Last Edited by mrkk July 19, 2013 at 02:44 PM
If you walk away AFTER locking the rate it would cost you about 1000$ (some fee and appraisal costs)

Now offered in AZ!!

Box Home Loans BAD EXPERIENCE -
Just a FYI I had a bad experience using box. I was getting a ~400k loan on my house worth over 1 million and they refused to close the loan because 1 of 3 bathrooms was not complete, even though the "as-is" appraisal on my house was still ~1 million. After wasting my time I used CashCall got the same same rate and they funded the loan with no problems whatsoever...



IF INTERESTED IN PROVIDENT.com, sign up with perkspot and get code for .25 rebate which is $250.00 for each 100K in loan value.

https://friends.perkspot.com/Logi...urnUrl=%2f

The code given here is the same as I got as govt employee.


Three criteria to fit in the box:*
  • Minimum 700 Credit Score.
  • Owner-Occupied Properties
  • Minimum 3.5% down (or equity)
*Other exclusions may apply. Consult your loan officer.


Box Home Loans only charges $149* in total lender and broker fees for conventional loans, and $199 for FHA Loans. No origination fees. No underwriting fees. No wire fees. No junk. And no, we do not raise your interest rate to make up for the low costs.


Compare the Right Fees

Read carefully. This is where most shoppers get taken. There are three types of fees in a mortgage quote--lender fees, third-party fees, and prepaid/escrow items--and only some of these should affect your comparison. We will summarize each and tell you how you should compare them.

Lender Fees
Lender fees consist of two things: points/origination fees and “junk” fees. You must take both into consideration. I repeat: you must add them together. Some lenders brag about charging “no points” only to charge you an “admin” fee of $1,995. Or others might advertise, “no junk fees” only to charge you twice the points of another lender. You also must know the following about the two different kinds of lender fees:

Points and/or Origination Fees
There are subtle differences to points and origination fees, but for the sake of comparison, they should be viewed as the same thing. The most important thing to know about points and origination fees is that their amounts go up or down as the interest rate goes up and down. Generally speaking, the lower your rate, the more you pay in points or origination fees. The higher the rate, the less you pay in points.

Lender “Junk” Fees
Underwriting Fees, Admin Fees, Tax Service Fees, Flood Certification Fees, Pay-For-My-Trip-To-Hawaii Fees, yada yada yada. The list goes on and on. It is somewhat amusing to see what kind of fees lenders make up. Basically, these are any fees not charged by the third parties below. And if a broker tries to pass off his partnering lender’s underwriting fee as a third-party expense, don’t believe it. Essentially, all fees not charged by the appraiser, credit agency, title company, or attorney, are all considered lender fees.

Third-Party Fees

Third-party fees don’t matter as much to your comparison because those fees are essentially the same no matter where you get your loan. In fact, it is illegal for a mortgage company to pad these third-party fees. These costs include the appraisal, credit report, title company fees, and government fees (recording, transfer taxes, tax stamps, etc). Third-party fees do vary somewhat from provider to provider. Not all title companies charge the exact same fees, for example. But the differences are minimal and typically not subject to change. Therefore, don’t waste too much time haggling over these. Haggle over the stuff that matters—lender fees!

Prepaid/Escrow Items

Prepaid/escrows items should have ZERO bearing on your comparison between two lenders. They represent the amount collected either to pre-pay (or escrow) your taxes, insurance, and interest. The amount a lender can collect for these items is highly regulated by the federal government, and does not fluctuate significantly from lender to lender. Yes, it is critical to understand the amount required for these items, but worry about this after you have chosen your lender.

To compare one lender with another, simply add up the points, origination fees, and lender “junk” fees for each lender.

What separates Box Home Loans from the rest is our lack of fees. It is stunning, actually. The only fees you will see from us are the points or lender credit associated with your rate and a processing fee of $149 for conventional loans and $199 for FHA loans.

Finally, whether you choose Box Home Loans for your next mortgage, these three comparison rules—Same Day, Same Rate, Right Fees—will prove invaluable as you shop for your next mortgage. Never again will you have to ask yourself, “Did I just pay too much?”

For everything else, make sure you're comparing the same rates, same values, and on the same day! It matters!

----

NOTE on CURRENT RATES
Make sure to check these rates OFTEN. Rates are RISING FAST this week, specifically yesterday.

Read: Mortgage Rates Reach Two-Month Highs. Best-Execution Shifts Higher [mortgagenewsdaily.com] (8/15/2012)
View: Today's Mortgage Rates [mortgagenewsdaily.com]

-----

514 Comments

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#46
Here is my experience with Amerisave that I would like to share:
Their web concept is great, you able to select your rate, see your credit (if any) and the closing cost fees then request to pre-lock that rate right away.

Right after you submitted the application, they schedule the appraisal right away. This is where why they got most of the bad reviews to them. This step cost the applicant $425 to $525 if the loan failed/denied. So what you need to do is go to eppraisal.com and find out yourself then pick the lowest value and subtract $20,000. This is the lowest value that you will get on your real appraisal report but you may get couple Ks more if you got lucky.

You take the appraisal value above * 0.75 = this is the Loan amount that they will approve

Your liquid assets + 60% of IRA must be enough to cover the payment(s) for 12-month (monthly mortgage payment+tax+ins + any of other loans or credit card)

Your FICO must be at least 780-799 to get credits back. With 800+ you got max credits back.
If you select Do Not Waive Escrow, they will give you even more credits back but it is not recommended

If you got all 4 #s above then you are good to go @ Amerisave.

The lowest rate that I known is 3.5% - 3.625 @ no cost (credits back to cover closing fees) so any rate above that is not slick!!!
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#47
Quote from bryantq View Post :
As we're trying to compare costs with Provident, its hard because they don't have a breakdown of closing costs. So while they may have a larger "credit", we dont know the total fees so its impossible to compare.

Can someone chime in on that?

I see right off the bat that their base fee is
Fees charged by Provident Fundings
  • Administration Fee: $1,099.


compared to the $159 or $199 from Box Home Loans.
Bryant, thanks for posting this thread. I don't understand all the thumbs down as we need more threads like this regarding mortgage rates.

Just to clarify, when you say no closing costs, is Box rolling the closing costs into the loan or are they actually paying them?

I assume you have to pay for an appraisal out of pocket even if the refi is not approved.

I am looking to do a refi. My current loan is with Wells Fargo. I just hung up with their loan department and he said that all the other companies are just rolling the closing costs into the loan to give the 3.75 rate. He said he could only go 3.75 if he rolled the points in. If Wells Fargo pays the closing costs, the rate as of today would be 4.25%. They push the fact that you don't need a new appraisal or a credit pull since you already have a loan with them. (FHA Streamline)
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Last edited by wavesine June 8, 2012 at 07:37 AM
#48
I did with weichert financial 30 yrs fixed two weeks ago. No guarantees if you still can get the same rate but pm if you like the contact info for the person to contact. I compared them to my fcu and his came out almost 2 grant less.
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#49
Quote from bioblue View Post :
I did with weichert financial 30 yrs fixed two weeks ago. No guarantees if you still can get the same rate but pm if you like the contact info for the person to contact. I compared them to my fcu and his came out almost 2 grant less.
Was that 0 closing cost refinance? I just closed with Eagle bank in end april with 4.125 zero closing cost. Was at 5% before that.

Can you give me your agents contact info if that was a zero closing cost refi. If anyone knows of a zero closing cost refi in MD, please PM me.
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#50
I am still trying to determine if I should refinance.

Have 110K left on 30yr 156K loan at 5.25 We have made extra payments frequently to get the balance to come down. Since we are so far into the load, would it really save me that much? 10 years into the original and if refinanced would switch to 15 or 20 year.
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Last edited by 68droptop June 8, 2012 at 09:13 AM
#51
Quote from bioblue View Post :
I did with weichert financial 30 yrs fixed two weeks ago. No guarantees if you still can get the same rate but pm if you like the contact info for the person to contact. I compared them to my fcu and his came out almost 2 grant less.
Good rate
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Last edited by tolgac June 9, 2012 at 01:13 PM
#52
Any deals for non-owner-occupied (investment) properties? <100k?
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#53
Quote from iridium View Post :
Was that 0 closing cost refinance? I just closed with Eagle bank in end april with 4.125 zero closing cost. Was at 5% before that.

Can you give me your agents contact info if that was a zero closing cost refi. If anyone knows of a zero closing cost refi in MD, please PM me.
There are 3 types of fees:
Origination
Discount (pts)
Closing Cost

With today rates, if anyone charge for Origination and/or Discount (pts) fees they are suck. Go find another lenders.
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#54
Zero closing cost - depends on what they define as a closing cost.

You can get 3.5% pretty easily anywhere else.
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#55
Any CT residents on here? Suggestions for brokers?

We refi'd a couple years ago at 4.875% with Everhome, but it looks like I can get that lower these days!
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#56
Quote from Wasser View Post :
Any deals for non-owner-occupied (investment) properties? <100k?
I will sign off the loan doc today with my investment property ($289K), we locked at mid May @ 4% w/ $2440 credit back and the closing cost is ~$1800 @Amerisave
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#57
Quote from goldendragon View Post :
There are 3 types of fees:
Origination
Discount (pts)
Closing Cost

With today rates, if anyone charge for Origination and/or Discount (pts) fees they are suck. Go find another lenders.
What I got with EagleBank was no discount pts, origination and closing costs were covered by the $3000 they paid.

I need something like that and a rate around 3.5 to 3.625. Now I just refinanced less than 2 months ago, can I do it again?
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#58
Quote from iridium View Post :
Was that 0 closing cost refinance? I just closed with Eagle bank in end april with 4.125 zero closing cost. Was at 5% before that.

Can you give me your agents contact info if that was a zero closing cost refi. If anyone knows of a zero closing cost refi in MD, please PM me.

Same here, Pls PM me any zero closing costs purchase/refi in MD.
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#59
Quote from iridium View Post :
What I got with EagleBank was no discount pts, origination and closing costs were covered by the $3000 they paid.

I need something like that and a rate around 3.5 to 3.625. Now I just refinanced less than 2 months ago, can I do it again?
When can u do it again is depend on the term that you signed with previous lender? if u not sure or don't know, u should call your agent or processor.

To get 3.5% @ no cost you need to do comparison yourself at various place but first u need to do homework on your FICO, home value and asset first. You can prefer to my previous post.

FYI: Last week was the best ever @3.5% no cost on FICO of 780+ but with 800+ is even more credit back. I am not sure this week.

Good luck!!!
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#60
Quote from wavesine View Post :
Bryant, thanks for posting this thread. I don't understand all the thumbs down as we need more threads like this regarding mortgage rates.

Just to clarify, when you say no closing costs, is Box rolling the closing costs into the loan or are they actually paying them?

I assume you have to pay for an appraisal out of pocket even if the refi is not approved.

I am looking to do a refi. My current loan is with Wells Fargo. I just hung up with their loan department and he said that all the other companies are just rolling the closing costs into the loan to give the 3.75 rate. He said he could only go 3.75 if he rolled the points in. If Wells Fargo pays the closing costs, the rate as of today would be 4.25%. They push the fact that you don't need a new appraisal or a credit pull since you already have a loan with them. (FHA Streamline)
I also spoke with Wells Fargo yesterday for my current loan and for a refi, they told me 4% with $500 in closing costs. They said I'd still have to re-appraise + credit pull
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