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Sage Home Loans Mortgage Review 2024

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At a glance

Sage Home Loans
NMLS: 3304
State License: MC-5018
Editor's take

Sage Home Loans is a direct digital mortgage lender working with borrowers in the majority of states across the U.S. (Sage is owned by Bankrate parent company Red Ventures.) Among the benefits of working with this lender: a plain-language application that’s easier and faster to complete.

Bankrate Score
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4.3
Rating: 4.3 stars out of 5
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Bankrate Score

Customer Rating
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4.8
Rating: 4.77 stars out of 5

317 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, refinancing

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans

Location

Nationwide availability

All U.S. states except Delaware

Dollar Coin

Min. down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans

At a glance

Sage Home Loans

NMLS: 3304

State License: MC-5018

4.3

Rating: 4.3 stars out of 5
  • Star
  • Star
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  • Star
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  • Star Empty
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, refinancing

Location

Nationwide Availability

All U.S. states except Delaware

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans

Sage Home Loans overview

Sage Home Loans is a direct digital mortgage lender headquartered in Fort Mill, South Carolina. To connect with Sage, you can visit the lender directly online, call or submit your information through Bankrate. From there, you’ll be assigned a dedicated loan officer. For home purchase mortgages, the lender offers no-cost verified preapprovals.

Pros and cons

Pros
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    Dedicated loan officer works with borrowers throughout the entire process

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    Offers verified approvals

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    Most mortgages close within 27 days

Cons
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    Doesn’t offer home equity lines of credit (HELOCs) or home equity loans

Our Editor’s Take on Sage Home Loans

Sage Home Loans is a direct digital mortgage lender working with borrowers in the majority of states across the U.S. (Sage is owned by Bankrate parent company Red Ventures.) Among the benefits of working with this lender: a plain-language application that’s easier and faster to complete.

How Bankrate scored Sage Home Loans

  • Affordability: Sage Home Loans charges flat fees on loan originations and tends to offer favorable rates.
  • Availability: At the time of this review, Sage Home Loans operates in every state except Delaware. It offers borrowers conventional loans for both purchase and refinance, as well as some types of government-backed loans.
  • Borrower experience: Sage Home Loans provides an all-digital experience and has an A+ rating from the Better Business Bureau.

Affordability: 9.8/10

Sage Home Loans’ rates were competitive against Bankrate’s averages at the time of this review. Your individual rate will vary based on your credit score and other factors. You can obtain a personalized rate quote by completing a form on the lender’s website or through Bankrate, or by contacting a loan officer directly. Notably, Sage doesn’t include overlays. The lender charges a flat $995 underwriting fee and $499 processing fee.

Availability: 10/10

Sage Home Loans offers both conventional loans (conforming and jumbo) and FHA and VA loans in every state except Delaware. For conforming loans, you could qualify with a debt-to-income (DTI) ratio up to 50 percent.

Borrower experience: 5.8/10

Sage Home Loans currently has an A+ rating from the Better Business Bureau. When working with Sage, you might benefit from the lender’s 100-percent digital experience, which includes a simple, plain-language application and the ability to upload supporting documents and select product and pricing all in the same session. The lender offers three-minute prequalifications as well as verified approvals, and often clears borrowers to close faster than industry averages.

How to apply for a mortgage with Sage Home Loans

You can apply for a mortgage with Sage Home Loans online or by phone at 877-219-6115. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Sage Home Loans

Sage Home Loans offers both rate-and-term and cash-out refinancing options.

Sage Home Loans customer ratings and reviews

logo

NMLS: 3304

State License: MC-5018

4.8

Rating: 4.77 stars out of 5

317 ratings

Info

This lender has 25 recent reviews.

Knowledge
Rating: 4.8 stars out of 5
Level of service
Rating: 4.8 stars out of 5
Professionalism
Rating: 4.8 stars out of 5
Responsiveness
Rating: 4.8 stars out of 5
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91%
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4%

95% of customers would recommend this lender.

of 25 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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