Best online mortgage companies?

[RedmondStash]

Have any of you had good (or bad) experiences with any particular online mortgage company? They seem to have better rates than local in-person options.

This would be for a primary residence in a HCOL area. Spouse & I are both FIREd.

Thanks.

[Another Reader]

If you have no W-2 income, it is often much more difficult to get a mortgage.  You are going to have to show a pension-like pattern of withdrawals or get a higher interest rate asset-based mortgage.  Before you waste time with the on-line brokers, sit down with your bank or other local lender and find out what they require.

[RedmondStash]

If you have no W-2 income, it is often much more difficult to get a mortgage.  You are going to have to show a pension-like pattern of withdrawals or get a higher interest rate asset-based mortgage.  Before you waste time with the on-line brokers, sit down with your bank or other local lender and find out what they require.

Thanks. I know it's harder to get a mortgage without employment income. I'm just looking for info about people's experiences with online mortgage companies, especially any specific recommendations.

[Another Reader]

Most on-line brokers are set up to do cookie cutter, W-2 income-based mortgages.  I work with brokers I know, and they beat the on-line people every time.  If your situation approaches cookie cutter, a good benchmark is Aimloan.com.  Their rates are consistently low.

If your net worth is high enough, sometimes the wealth management departments of the banks can get you lower rates, if you transfer seven figures of assets to them.

If you are successful, telling your story may be helpful to others in your position.

[zinnie]

Box Home Loans was awesome for a refinance we did in California. Super easy and fast and the best rates we could find at the time. I know they aren't available in a lot of states, though.

I never went all the way through with AimLoan this time because I got a better rate with a local bank but AimLoan had great rates and were really friendly and easy to work with at least through the application step!

[RedmondStash]

Thanks, Another Reader & Zinnie! I appreciate the info.

[fifreestyle]

Manual underwriting can be a tricky situation, many independent brokers have the option to do so with whomever they are selling the loan to (provided they are given that product by their third party originator) there is one originator I know for sure does this (Home Point Financial) and another company that is direct to consumer (think Quicken) that does this and that's Churchill Mortgage of Dave Ramsey fame.

[BECABECA]

We used SoFi and they were awesome, easy online application process, closed really fast, and had a really good rate. They also loan based more off assets so it might be a good choice for your situation.

[RedmondStash]

We used SoFi and they were awesome, easy online application process, closed really fast, and had a really good rate. They also loan based more off assets so it might be a good choice for your situation.

Nice. Thanks, everyone!