Although CashCall Mortgage only provides a limited selection of loan products, the company does provide one option that is only sometimes found: a high-balance conforming loan. Before you can begin the application process, you will be required to speak with a loan officer, and receiving personalized rates online is impossible. Below you will find CashCall Mortgage reviews.

Pros

• Provides 30-year conforming loans, which may be helpful in areas with high housing costs.
• According to the most recent statistics, lending costs are manageable and are accompanied by competitive interest rates.
• There is information on sample rates accessible online for a variety of items.

Cons

• None of the following are available: FHA loans, adjustable-rate mortgages or home equity loans.
• You are required to get in touch with the lender for individualized pricing.

CashCall Mortgage Loan Types

CashCall Mortgage does not provide FHA loans or adjustable-rate mortgages but provides conventional and VA mortgage choices for house purchasers and refinancers. In addition, there is no mention of home equity loans or credit lines anywhere on the menu. CashCall does provide a high-balance conforming mortgage option. With this option, borrowers may borrow up to the annual loan restrictions established by the Federal Housing Finance Agency for high-cost locations. Those buying a more costly property in some regions of the nation may find that a high-balance conforming loan is a better option than a jumbo loan for financing the purchase.

CashCall Mortgage Ease of Application

If you go to the CashCall website and click the "Apply Now" button, you will be sent to a form that puts you in touch with a loan representative. After you have had that conversation, the lender will tell you that you may submit and sign paperwork online and that you can also digitally follow the progress of the loan procedure.

CashCall Mortgage Rates and Fees

The most current data made public by the Home Mortgage Disclosure Act assigns a score for each lender based on two criteria: fees and mortgage rates. This is done to offer customers a rough idea of what a lender could charge.

Four out of five stars are awarded to CashCall Mortgage for having an average origination charge.

The mortgage rates that CashCall Mortgage is giving are rated 5 out of 5 stars, which is the highest possible rating compared to the best rates currently available on similar loans.

Borrowers want to consider how the mortgage rates and lender costs compare. Paying fees upfront might sometimes result in a cheaper interest rate on a mortgage, but this is only sometimes the case. Some loan companies may offer a lower interest rate in exchange for larger upfront costs because they believe this would attract more customers. Certain lenders demand larger upfront costs.

Discount points are an extra cost paid at closing that lowers your mortgage rate. Consider how long you plan to stay in the home and how much money you will have on hand to cover closing costs when determining whether or not to pay higher fees upfront.

CashCall Mortgage Rate Transparency

On the CashCall Mortgage website, you may find links to sample interest rates for a few different loan types and information about the associated fees and assumptions. In addition, the lender links its fee disclosures and assumptions, which describe the kind of borrower you need to be to qualify for those rates. When we verified, CashCall assumed that some of their loan products required a down payment of up to forty percent and credit ratings of over seven hundred. Contacting a CashCall loan professional is the only method to get a customized quotation for your interest rate.

Requirements

Our research revealed that CashCall Mortgage is one of the few lenders that is more forthright and open about the conditions for loans upfront. For example, it specifies that to qualify for a conventional loan, the borrower must have a minimum FICO score of 620, and the maximum debt-to-income ratio (DTI) they would tolerate is 50%.

The specialty loans offered by CashCall Mortgage make it feasible to qualify without the typically required documents, such as tax records. The Investment Property Program does not check the applicant's work or income; rather, it considers the property's cash flow. The Bank Statement Program enables self-employed candidates to provide 12 months of bank statements rather than W-2s or tax returns as proof of income.