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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 2,243 1,355 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!
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.

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]

-----

515 Comments

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#31
I'm a loan officer in the bay area of California. The most important thing is to just make sure all the quotes are the same day. There was a day last week when we were locking in clients with no closing costs at 3.5%. The markets are pretty volatile right now. We are doing a lot of 3.625% currently for single family homes and about 3.75% for condos. It all depends on the loan amount, LTV (loan to value),etc. The markets are easily pushing rates up about 0.125% on volatile days. As a general rule, when the stock market goes up, that is bad for mortgage interest rates.
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#32
Provident is good under certain scenarios. We are an approved lender with them, but the main drawback is that they only take cookie cutter transactions. I.e. they won't do condos, they don't like self employed borrowers, they won't refinance any properties with unpermitted work. Every situation has a lender that has a certain niche that they cater to, the work involves finding the right lender for the right scenario.
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#33
Quote from xxswishxx View Post :
I'd love to refi, and possibly take some equity out of my condo. I've never done anything like this as I've never purchased a home. My home was transferred to me by my father, but his name is still on the loan which is currently owned by chase at 5.5%APR. Any recommendations slickdealers?
As long as the paperwork is structured properly, it shouldn't be an issue. The state that you reside in also plays a factor in it as well. Taking equity out (cash-out) will usually cost about 0.25% of the credit (not the rate), but you should still be able to do it for about 3.875% or so depending on the market, condo value, the amount you are trying to take out, and so forth.
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#34
Quote from sn618 View Post :
I'm a loan officer in the bay area of California. The most important thing is to just make sure all the quotes are the same day. There was a day last week when we were locking in clients with no closing costs at 3.5%.
How about for the 15 yr with no closing?

Thanks...
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#35
wish it was for AZ too....
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#36
Any experience / thoughts on Provident? They have good rates but terrible reviews from what I found..
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#37
Worst than Amerisave. I am doing 2 refinances (primary and investment) with Amerisave and very much like them. 3.625% with $1800 credit and 4% with $2400 credit, their closing cost is $1687 and $1868.
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#38
Quote from patz98 View Post :
Any experience / thoughts on Provident? They have good rates but terrible reviews from what I found..
See my post #32 about Provident. They just require everything to fit their exact mold that they want.

Box seems to have decent rates, but if shopped aggressively, you should be able to get slightly better. As I told Bryan, the same scenario can be had for about $800 cash back after all closing costs or it can also be very close to a no closing cost loan at 3.625% if the loan amount is a tad bit higher.
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#39
is it worth it to goto 3.75 from 4.65?
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#40
Quote from scrapplejoe View Post :
is it worth it to goto 3.75 from 4.65?
Absolutely. Our rate were 5.25%(purchased and did w/bloodsucker Chase's agent) to 4.625%(cost us $4K+) to 4%(no cost) to 3.625%(no cost with $100 credit)

Years that we did: Dec 2008 >> April 2009 >> Oct 2011 >> May 2012

To do with with Amerisave you gotta do your homework first. They gave lots of credit to one w/ 800 FICO. We only got 795.
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Last edited by goldendragon June 8, 2012 at 12:31 AM
#41
Quote from scrapplejoe View Post :
is it worth it to goto 3.75 from 4.65?
Definitely worth it. Depending on where you are with the amortization schedule, you could be paying off the loan much much sooner. Off of a 200k loan, the difference is about $104/month less. That equates to about $37,440 over the life of the loan that you're saving in interest rates.

I refinanced my client at 3.75% and he was only coming down from 4.25% but it still saved him a tremendous amount where it was worthwhile.
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#42
Quote from goldendragon View Post :
Absolutely. Our rate were 5.25%(purchased and did w/bloodsucker Chase's agent) to 4.625%(cost us $4K+) to 4%(no cost) to 3.625%(no cost with $100 credit)
Hahaa, Chase is known in the industry to be vultures. 3.625% is pretty good and that's where most of our clients fall into as well. The "perfect loan" is able to get 3.5%:

~$400k loan amount
Loan to value under 60%
House (not condo)
760+ ficos

There are so many variables that it's always a bit difficult to compare apples to apples, especially if the quotes are on different days. Rates should remain low through 2014 if the Fed is able to do everything they need to do with monetary policy. What's really keeping rates low right now though, is all the financial turmoil over in Greece and Spain. If Germany steps in for a bailout, you'll see interest rates jump very quickly.
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#43
Quote from sn618 View Post :
Hahaa, Chase is known in the industry to be vultures. 3.625% is pretty good and that's where most of our clients fall into as well. The "perfect loan" is able to get 3.5%:

~$400k loan amount
Loan to value under 60%
House (not condo)
760+ ficos

There are so many variables that it's always a bit difficult to compare apples to apples, especially if the quotes are on different days. Rates should remain low through 2014 if the Fed is able to do everything they need to do with monetary policy. What's really keeping rates low right now though, is all the financial turmoil over in Greece and Spain. If Germany steps in for a bailout, you'll see interest rates jump very quickly.
We'll sign off on Monday for the primary:
Loan $360,000
Appraisal at $480,000
FICO 795
Pre-Lock the rate @ 3.75% w/ $1800 credit on May 4
Since they delayed us for one month, they agreed to gave us 3.625% w/ same credit on June 5
Our processors are awesome and fast!!!

I also known that in SoCal, your local Vietnamese loan agents can locked 3.5% with no cost for last week only. The last 3 days was not good but 3.75% is still no cost!!!
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Last edited by goldendragon June 8, 2012 at 12:48 AM
#44
Sweet deal, is that $1800 credit going towards closing costs, or is that what is left over after closing costs have already been paid?
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#45
Quote from sn618 View Post :
Sweet deal, is that $1800 credit going towards closing costs, or is that what is left over after closing costs have already been paid?
credit going towards closing costs. But like I said if you got 800+ then they give you $300-$500 more
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