Online Mortgage Company Recommendations?

[Dules22]

Hello my Mustachian Friends!

We are looking to do a cash out refi on our house and it seems that the online brokers have significantly lower rates than what we can get with our local financial institutions. I have read some less-than-stellar reviews of some of the online brokers but I was wondering if anyone has any recommendations and has had a good experience with some of the online shops.

Thanks in advance!

[Ichabod]

I'd like your recommendation for the ad-blocker that's catching the Credible banner ad at the bottom of these forums. :)

I have no recommendations as when I refinanced my situation allowed me a limited selection of lenders that were all brick-and-mortar.

[iluvzbeach]

I can’t speak to brokers per se, but we just worked through PenFed.org for two new purchases and they were fabulous to work with. Fantastic rates, no fees, they even provided closing credits. Our rates were 2.375% and 2.50%, both for 30 years. We closed one and two months ago on the purchases and rates have gone up slightly since then, but I’d still highly recommend checking them out.

I have no affiliation, am just a satisfied customer.

[RWD]

I'd like your recommendation for the ad-blocker that's catching the Credible banner ad at the bottom of these forums. :)

Custom filters in uBlock Origin work great.

[Dules22]

Wow - talked with PenFed, they are great! Thank you for the recommendation. lowest rate and super low cost. Thank you for posting!

[iluvzbeach]

Glad to hear you called and got great rates as well.

We successfully closed on two mortgages with them and they were fantastic every step of the way. We were very pleased and I hope you will be as well.

[nancy33]

We used filo a few months ago it was very easy and a great rate

[Dules22]

I just wanted to give an update:

Although PenFed definitely had a low rate the costs were slightly higher than what we got from LenderFi and Loan Depot. We ended up going with LenderFi. Lowest rate and lowest cost.

I was a bit of nervous going with an online lender but it was easier than I had anticipated. Uploaded all of the necessary info through their portal. Chatted on the phone a couple of times and a notary came to our house to do the paperwork. All pretty painless. I would use them again. That being said they are SUPER busy so you are not going to get the personal feel of dealing with someone local (or likely PenFed too) but at the end of the day for me it is about cost and rate.

As a side note being a mobile notary seems like it might be a nice side hustle or a nice way to supplement some cash in early retirement.

[ender]

I had a good experience with Loan Depot but without a referral their fees were terribad.