Lender who pays some closing costs

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Types of Loans Offered

Compliant, FHA, VA, jumbo, bank statement program, 1099 earners program, real estate investment

Types of Loans Offered

Compliant, FHA, VA, jumbo, bank statement program, 1099 earners program, real estate investment

Pros

  • Will pay some of your third party closing costs
  • Live chat makes it easy to connect with an expert
  • Has mortgage options for independent borrowers, independent contractors and investors

cons

  • Can’t see adjusted rates online
  • Does not operate in eight states, including New York, Connecticut, Delaware, Maine, Maryland, Massachusetts, Wyoming, and Missouri
  • Will not accept alternate credit information from borrowers who have no credit score or bad credit

More information

  • Charges an origination fee of $995
  • Minimum credit score and deposit shown are for compliant mortgages
  • Credit in 42 states and Washington, DC

Overall Lender Rating

Pros and cons

CashCall Mortgage Interest Rates and Fees

You can view the current interest rates on the CashCall Mortgage website. The rates page displays sample rates for conventional, VA, jumbo, investment properties, bank statements, and


1099

earner mortgages, with examples of what your rate could be with different levels of points. Mortgage points allow you to pay a fee on closing in exchange for a lower interest rate.

To receive a custom quote from this lender, call or submit an inquiry.

CashCall Mortgage charges a $995 startup fee on its mortgages. However, if you want to save money on your total closing costs, this could be a good lender for you; CashCall Mortgage says it pays some third-party closing fees on behalf of the buyer. If you get a mortgage with this lender, it will cover the following costs: escrow/closing costs, appraisal costs, flood certification costs, signing costs, property insurance and other title-related costs, and credit report costs.

CashCall Mortgage vs Better.com

Both CashCall Mortgage and Better.com are distinguished by limiting the fees their borrowers have to pay. While CashCall Mortgage does charge a startup fee, it pays some of your third-party closing fees. Better.com, on the other hand, does not charge a lender fee, but you must pay any third-party fees.

CashCall Mortgage may be the better option if your income history makes it difficult for you to get a traditional mortgage since it has mortgages that allow bank statements or 1099s instead of tax returns or W2s.

CashCall Mortgage vs. Guaranteed Rate

Guaranteed Rate accepts alternative credit information from borrowers who do not


creditworthiness

† Alternative credit information can include things like proof that you paid your rent or utility bills on time. If you don’t have a set score, the Guaranteed Rate is probably a better fit for you, as CashCall Mortgage requires its borrowers to have a score.

Both lenders charge a fee to get a mortgage with them. The rate of the guaranteed rate is $1,440. CashCall Mortgage’s is slightly more affordable at $995. CashCall Mortgage also covers some of your third-party costs.

However, it is important to consider the full package. Getting price quotes from both lenders will help you determine which one can save you more money overall.

How CashCall Mortgage Works

CashCall Mortgage is an online lender that provides mortgages in 42 states and Washington, DC. It does not lend in New York, Connecticut, Delaware, Maine, Maryland, Massachusetts, Wyoming, or Missouri.

This lender offers conforming, FHA, VA, and jumbo mortgages, plus a few different specialty mortgages for borrowers with unique situations.

These special offers include:

  • An investment property mortgage that allows borrowers to qualify based on the cash flow of the property they buy.
  • A mortgage with bank statements that qualifies self-employed borrowers with bank statements, rather than W2s or tax returns.
  • A 1099 earners mortgage for freelancers or independent contractors that uses 1099 statements to qualify the borrower instead of tax returns.

All three of these specialty mortgages require borrowers to have a minimum credit score of 600. Mortgage borrowers who meet the requirements need a score of at least 620.

To get a compliant mortgage with this lender, you need a


deposit

of at least 5%. FHA borrowers can only deposit 3.5%. All CashCall Mortgage borrowers also pay a $995 startup fee, although the lender will cover some of your third-party closing costs.

If you have any questions for this lender, you can call, email or chat online. You can start an application online or by phone.

Is CashCall Mortgage Reliable?

CashCall Mortgage has a C+ rating from the Better Business Bureau. The BBB says the lender deserved this rating because it failed to respond to a complaint filed against it. BBB ratings are based on a company’s response to customer complaints, honesty in advertising, and transparency about its business practices.

A lender’s BBB rating is not always a perfect indication of the experience you have with that lender. On the Trustpilot customer reviews page, CashCall Mortgage earned a rating of 3.7 stars.

Frequently Asked Questions about CashCall Mortgage

Does CashCall Refinance Mortgage Loans?

Yes, you can transfer your mortgage with CashCall Mortgage.

Where is CashCall Mortgage available?

CashCall is an online lender offering mortgages in 42 states and Washington, DC. It does not lend in New York, Connecticut, Delaware, Maine, Maryland, Massachusetts, Wyoming or Missouri.

Does CashCall Mortgage Offer FHA Loans?

While it doesn’t seem like they’re promoting it online at the moment, CashCall Mortgage confirmed to Insider that it offers FHA mortgages.

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