
Ally Bank
4.9 Bankrate ScoreAlly Bank began offering direct-to-consumer home...
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Sage Mortgage is a good choice for borrowers who are looking for an online experience with support throughout the home loan process.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; jumbo
Min. credit score required
620 for conventional loans, 500/580 for FHA 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
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans
4.9
Bankrate Score
Loans offered
Conventional, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; jumbo
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
Min. credit score required
620 for conventional loans, 500/580 for FHA loans
Works with multiple wholesalers to offer competitive rates and fast cycle times
Borrowers can complete a quick and easy application online 24/7, 365 days a year
Dedicated loan officer works with borrowers throughout the entire process
Most mortgages close within 27 days
Doesn’t offer some government loans
Doesn’t offer home equity lines of credit (HELOCs) or home equity loans
Sage Mortgage is a good choice for borrowers who are looking for an online experience with support throughout the home loan process.
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.
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 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.
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.
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:
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.
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.
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.
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.
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.
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.
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Rating: 4.9 stars out of 5
4.9
Bankrate Score
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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 |
4.8
302 ratings
This lender has 14 reviews.
95% of customers would recommend this lender.
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.
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?