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Sage Mortgage Review 2023

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At a glance

Sage Mortgage
Editor's take

Sage Mortgage is a good choice for borrowers who are looking for an online experience with support throughout the home loan process.

Bankrate Score
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4.9
Rating: 4.9 stars out of 5
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Customer Rating
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4.8
Rating: 4.8 stars out of 5

292 ratings

Mortgage Percent

Loans offered

Conventional, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; jumbo

Credit Good

Min. credit score required

620 for conventional loans, 500/580 for FHA loans

Location

Nationwide availability

Available in Alabama, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, New Hampshire, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Washington and Wisconsin

Dollar Coin

Min. down payment

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

Recent customer reviews

The customer 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.

Rating: 5 stars out of 5

3rd time was a charm!

In the midst of the 2023 rate surge, purchasing a new home for our family in south Florida was quite an adventure. Our first lender pre-approved us for $350k. So we felt good about qualifying for a $292k loan. We shopped the lending out and found a lower rate so we went with a 2nd lender until they...

Dave
Fort Mill, SC (Apr 11, 2023)

Rating: 5 stars out of 5

Fast processing, professional and excellent communication

We received constant updates throughout the process and were given quick and detailed replys to our calls and emails. We felt assured we were dealing with knowledgeable professionals.

Professionals
California  (Mar 24, 2023)

At a glance

Sage Mortgage

4.9

Rating: 4.9 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; jumbo

Location

Nationwide Availability

Available in Alabama, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, New Hampshire, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Washington and Wisconsin

Credit Good

Min. credit score required

620 for conventional loans, 500/580 for FHA loans

Sage Mortgage overview

Sage Mortgage is an online mortgage company that both underwrites loans and works with multiple wholesale lenders.  Founded in 2020, it is headquartered in Fort Mill, South Carolina. To connect with Sage, visit the company directly online or you can submit your information through Bankrate. From there, you’ll be assigned a dedicated loan officer.
 
(Editor’s note: Sage Mortgage is owned by Bankrate parent company Red Ventures but had no influence in Bankrate's review. Bankrate's editorial team operates independently and has standards in place to ensure the information in this review is accurate and unbiased.)

Pros and cons of Sage Mortgage

Pros
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    Works with multiple wholesalers to offer competitive rates and fast cycle times

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    Borrowers can complete a quick and easy application online 24/7, 365 days a year

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    Dedicated loan officer works with borrowers throughout the entire process

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    Most mortgages close within 27 days

Cons
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    Doesn’t offer some government loans

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

Our Editor’s Take on Sage Mortgage

Sage Mortgage is a good choice for borrowers who are looking for an online experience with support throughout the home loan process.

How Bankrate scored Sage Mortgage

To determine Sage’s Bankrate Score, Bankrate’s editorial team rated it and other lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. (Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews.) We derived its overall score by considering three basic factors.

  • Affordability: Sage works with a variety of mortgage lenders, making it easy for you to shop around and get the best possible deal.
  • Availability: Sage Mortgage is available in 25 states and offers conventional loans for both purchase and refinance.
  • Borrower experience: Sage provides an all-digital experience and has an A+ rating from the Better Business Bureau.

Affordability: 5/5

Loan expensiveness is a deciding factor for many borrowers.  The affordability nature of loans differ from lender to lender, so comparing costs is key.

As a broker, Sage works with different mortgage lenders to find you the loan best for your needs. While it advertises a promotional rate on its website, your individual rate will vary based on the lender you work with, your credit score and other factors. You can obtain a personalized rate quote by completing a form on the broker’s website or through Bankrate or by contacting your loan officer directly.

Sage Mortgage fees can range from no fee at all to up to 3 percent of the loan amount.

Availability: 5/5

Availability factors can make the overall mortgage-application process smoother or more challenging. Sage Mortgage offers conventional loans for both purchase and refinances to borrowers in some 25 states. For conforming loans, you’ll need a minimum credit score of 660, but can have a maximum debt-to-income (DTI) ratio of 50 percent and a maximum loan-to-value (LTV) ratio of 90 percent.

Borrower experience: 4.7/5

Customer experience factors can help you know what to expect when you work with a specific lender. Sage Mortgage currently has an A+ rating from the Better Business Bureau.

When working with Sage, you might benefit from the company’s 100-percent digital experience, which includes the ability to apply, upload supporting documents and select product and pricing all in the same session. (The broker’s website has limited information, however.) If the lender supports it, borrowers can also e-sign documents. If you’re interested in working with Sage, you connect with the broker online or via email, text or chat.

How to apply for a mortgage with Sage Mortgage

At Sage Mortgage, you can get started with a quick online application. You can also set up a call with a loan officer to discover your options. The lender works with multiple wholesalers, making it easy to snag a competitive rate. Along with assisting you with finding a loan, the company can help you get prequalified in three minutes and secure a preapproval in one to two days. The typical closing takes 27 days.

Here is how the process generally works:

  1. Run the numbers. Consider how much you can afford in a monthly home loan payment, factoring in payments on the principal, interest, taxes and insurance. Do whatever you can to raise your credit before you apply. A strong credit score can help you secure a competitive interest rate and save thousands over the life of the loan.

  2. Complete the Sage Mortgage online application. You’ll answer a few questions about your home purchase plans and provide your contact information. Sage will conduct a soft credit check, which won’t affect your credit, so you can begin the prequalification process.

  3. Shop around. Sage works with several mortgage lenders, so take advantage of this opportunity. Compare at least three offers to get the best deal you can.

  4. Schedule an appraisal and home inspection. You’ll need to arrange for a home inspection and home appraisal. It’s important to check for any major issues and assess the home’s value before you close on the loan.

  5. Close on the loan. It takes between an hour and an hour and a half to sign the closing documents at the title or escrow office. You should be able to access funds 2 to 3 days after your signing.

Refinancing with Sage Mortgage

You’ll find competitive refinance rates through Sage Mortgage, which works with multiple lenders to uncover your ideal loan with the lowest possible rate and fees. The broker displays a promotional refinance rate online, but this won’t necessarily be reflective of the rate you’d specifically qualify for.

Compare Sage Mortgage to other lenders

Sage Mortgage
Rating: 4.9 stars out of 5
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4.9

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LoanDepot
Rating: 4.4 stars out of 5
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4.4

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Read full review
Better Mortgage
Rating: 5 stars out of 5
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5.0

Bankrate Score
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Read full review

Loans offered

Conventional, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; jumbo

Loans offered

Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans

Loans offered

Purchase, refinance, fixed-rate, adjustable-rate, FHA, VA and bridge loans

Min. credit score required

620 for conventional loans, 500/580 for FHA loans

Min. credit score required

620 for conventional loans, 700 for jumbo loans, 580 for FHA loans, 620 for VA loans

Min. credit score required

620 for conventional loans

Down payment

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

Down payment

3.5% for FHA loans

Down payment

3.5% for FHA loans, none for VA loans

Nationwide availability

Available in Alabama, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, New Hampshire, New Jersey, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Washington and Wisconsin

Nationwide availability

Available in all U.S. states

Nationwide availability

Available in all U.S. states

Sage Mortgage customer ratings and reviews

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4.8

Rating: 4.8 stars out of 5

292 ratings

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This lender has 13 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
5 stars
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91%
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95% of customers would recommend this lender.

of 13 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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