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Sage Home Loans Review 2024

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At a glance

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

(Editor’s note: Sage is owned by Bankrate parent company Red Ventures.) Sage Mortgage is primarily a broker, which means it can connect you with loan offers from multiple wholesale lenders, ideally uncovering the best mortgage and rate for your needs. Sage also underwrites some mortgages. It doesn’t work with borrowers in every state nor offer government-backed loans, which could mean it doesn’t make your short list of lenders.

Bankrate Score
Info
4.0
Rating: 4 stars out of 5
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Bankrate Score

Customer Rating
Info
4.8
Rating: 4.78 stars out of 5

307 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, refinancing

Credit Good

Min. credit score required

620 for conventional loans, 580 for FHA loans

Location

Nationwide availability

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

At a glance

Sage Home Loans

NMLS: 3304

State License: MC-5018

4.0

Rating: 4 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, refinancing

Location

Nationwide Availability

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, 580 for FHA loans

Sage Home Loans 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, you can visit the company directly online or submit your information through Bankrate. From there, you’ll be assigned a dedicated loan officer.

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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    Dedicated loan officer works with borrowers throughout the entire process

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    Most mortgages close within 27 days

Cons
  • Close X

    Doesn’t offer 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 Home Loans

(Editor’s note: Sage is owned by Bankrate parent company Red Ventures.) Sage Mortgage is primarily a broker, which means it can connect you with loan offers from multiple wholesale lenders, ideally uncovering the best mortgage and rate for your needs. Sage also underwrites some mortgages. It doesn’t work with borrowers in every state nor offer government-backed loans, which could mean it doesn’t make your short list of lenders.

How Bankrate scored Sage Mortgage

  • 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: 9.8/10

As a broker, Sage works with different mortgage lenders to find you the best loan 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. Its fees can range from no fee at all to up to 3 percent of the loan amount.

Availability: 8.4/10

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 up to 50 percent.

Borrower experience: 5.8/10

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.) 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. 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

You can apply for a mortgage with Sage Mortgage 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 Mortgage

Sage Mortgage works with multiple lenders to find you a refinance deal that works for your needs. The broker displays a promotional refinance rate online, but this won’t necessarily be reflective of the rate you’d specifically qualify for.

Sage Home Loans customer ratings and reviews

logo

NMLS: 3304

State License: MC-5018

4.8

Rating: 4.78 stars out of 5

307 ratings

Info

This lender has 19 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
5 stars
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3 stars
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1 star
91%
4%
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1%
4%

95% of customers would recommend this lender.

of 19 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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