CashCall Mortgage

CashCall Mortgage Reviews

 2.5/5 (67 ratings)
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Looking to refinance your mortgage?

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Written by Taylor Sansano
Edited by Sally Jones

About CashCall Mortgage Reviews

CashCall Mortgage (NMLS #128231) is an online mortgage lender. In addition to offering conventional and government-backed mortgages, the company has special loan programs for investors, self-employed individuals and independent and commission-based contractors who benefit from alternative qualification requirements. CashCall Mortgage is licensed in all states except Connecticut, Delaware, Maine, Maryland, Massachusetts, Missouri, New York and Wyoming.

Overall Satisfaction Rating

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Pros

  • Options for self-employed, investors, and contractors
  • Jumbo loans up to $3 million
  • Online customer service by chat

Cons

  • No USDA loans
  • Not available in all states

Bottom Line

CashCall Mortgage's line of mortgage products includes loans for those who have nontraditional income documentation. You can view current rates online and apply either online or over the phone for a loan in 42 states.

Top CashCall Mortgage Reviews

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Rated with 5 stars
Verified

Easiest refinance ever, no points, no fees, no surprises at the end either. This was all done in three weeks, including appraisal, bank statements, proof of income and of course a...

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Rated with 1 star
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Cash Call Mortgage has terrible customer service. You have to listen to endless recordings and once, if you even can, get to a person, they won't help you. … I need to set up a cl...

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Looking to refinance your mortgage?

See which lender is best for you!

View Rates

Rates

CashCall Mortgage publishes rates on its website for each type of loan it offers. You can view the rates by clicking on the “Rates” link at the top of its site. CashCall Mortgage only has fixed-rate loans.

When checking rates, make sure you also click on “View Loan Assumptions,” which shows you the loan amount, points, minimum credit score, loan-to-value (LTV) ratio and other factors that go into the rate. To get a personalized rate, you need to begin the application process with CashCall Mortgage.

CashCall Mortgage average home purchase rate vs. national average

YearDifference from national average
2021+0.98%
2020+0.80%
2019+1.52%
Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

CashCall Mortgage offers a pretty standard approach to getting a mortgage. You can start the application online or over the phone. You are then connected with a representative to move the application forward. CashCall Mortgage sets you up with an online account where you can manage your application and upload documents.

A ConsumerAffairs reviewer from Homestead, Florida, said about working with CashCall Mortgage: “The loan agent and loan processor were very professional and showed great care and attention to detail. Their customer service skills were second to none; everything was done in a timely manner and the process was smooth. … If I call or email them they would respond instantly or within an hour.”

CashCall Mortgage application features

FeaturesAvailability
Online application
Mobile document upload
Physical branchesX
Publishes minimum rate on website
Rate lock45 days
Pre-qualification (no hard credit pull)X
Certified approval letter

Loan types

CashCall Mortgage’s offerings include traditional lending products, such as fixed-rate conventional loans (10-, 15-, 20- and 30-year terms), FHA loans and VA loans.

Specialty loans include:

  • Jumbo loans: Jumbo loans are available for purchasing and refinancing in amounts up to $3 million.
  • Investment Property Program: This program offers loans up to $2.5 million for borrowers looking to buy an investment property. You qualify based on cash flow from the property.
  • Bank Statement Program: This program is designed for borrowers who are self-employed. You can use bank statements to document income instead of W-2s or tax returns.
  • 1099 Earner Program: This program is intended for commission-based workers or independent contractors. CashCall Mortgage reviews 1099 forms to evaluate an applicant’s ability to repay the loan.

In 2021, CashCall Mortgage received 815 applications for home purchase loans and closed on about 49%. It denied 18% of home purchase applications.

Loan applications for home purchases only by year

202120202019
Home purchase applications8154422,291
Home purchase loans closed4021711,232
Home purchase applications denied147122332
Home purchase preapprovals denied000
Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

Refinancing has been a popular option for borrowers nationwide for the past few years, as interest rates fell to historic lows (2.68% on a 30-year fixed-rate mortgage in December 2020, according to Freddie Mac). As rates increase, refinancing likely won’t be as popular.

From 2019 to 2021, a large majority of home loans from CashCall Mortgage were refinance loans. In 2021, over half were rate-and-term refinances, over one-third were cash-out refinances and only about 5% of its loans were used to purchase a home.

Home purchase vs. refinance loans by year

202120202019
Home purchase loans5.35%2.60%11.28%
Refinance loans55.43%69.89%47.04%
Cash-out refinance37.48%26.42%41.66%
Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

Requirements

We found that CashCall Mortgage is more transparent upfront about loan requirements than many lenders. For example, it states that for conventional loans, it requires a FICO score of at least 620 and accepts a debt-to-income (DTI) ratio of up to 50%.

CashCall Mortgage’s specialty loans make it possible to qualify without usual documentation, like tax returns. The Investment Property Program doesn’t verify employment or income; instead, it looks at the cash flow of the property. The Bank Statement Program allows self-employed applicants to use 12 months of bank statements instead of W-2s or tax returns. Independent contractors and commission-based workers can qualify with two years of 1099 forms through the 1099 Earner Program.

National mortgage requirements by type

Min. credit scoreMin. down paymentCompare with other lenders
ConventionalTypically 620Typically 3%Mortgage lenders
FHA5003.5% with 580 credit scoreFHA lenders
VASet by lender (often 580)0%VA lenders

For other loan types, read our guide on USDA loans.

Cost and fees

CashCall Mortgage says that closing costs range from 2% to 6% of the purchase price.

Closing costs may include appraisal fees, title fees, credit report fees, origination fees, homeowners insurance and property taxes. Plus, borrowers who put down less than 20% on a conventional are required to pay for private mortgage insurance.

After you apply for a loan from CashCall Mortgage, you are entitled to see a Loan Estimate form with a list of all the estimated fees on your loan. Before closing, you then see exact figures for costs and fees in the Closing Disclosure.

FAQ

How does CashCall Mortgage work?

CashCall Mortgage offers both traditional types of home loans and specialty home loan products for real estate investors, self-employed workers, commission-based workers and independent contractors. You can start the preapproval process online, and a company representative will reach out with more information. CashCall Mortgage provides loans both for purchasing a property and refinancing.

Is CashCall Mortgage legit?

CashCall Mortgage is a legitimate mortgage lender. It is part of Impac Mortgage Corp., which acquired the company in 2015.

Where is CashCall Mortgage available?

CashCall Mortgage provides loans in 42 states. It does not provide loans in Connecticut, Delaware, Maine, Maryland, Massachusetts, Missouri, New York or Wyoming.

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How do I know I can trust these reviews about CashCall Mortgage?
How do I know I can trust these reviews about CashCall Mortgage?
  • 4,008,659 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Jan. 25, 2022

I have 750 credit score, give or take, dropped another refi option, cause I liked them. Big mistake, appraiser was incompetent and rude, was turned down. I wasted weeks and weeks. I've never been turned down before.

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Rated with 5 stars
Verified Reviewer
Original review: March 23, 2021

The loan agent and loan processor were very professional and showed great care and attention to detail. Their customer service skills were second to none, everything was done in a timely manner and the process was smooth. They showed me that they care about my concerns and they were there to answer all my questions. If I call or email them they would respond instantly or within an hour of my call or email. I have all praises for both Ericson ** and Eva, they were awesome and very effective throughout the entire process.

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    Rated with 1 star
    Verified Reviewer
    Original review: April 13, 2020

    Initially we had a good experience looking into a refinance at 15-years fixed for 2.99% rate, seemed like we'd be saving a lot of money and too good to be true. Suddenly as we got closer to closing the deal, and our documents were supposed to be sent to the underwriter (mind you - we had all of our documents submitted from our end, the ball was in Cashcall's court for 2 weeks), they suddenly started dragging their feet and nit-picking over details of documents. It turns out this was to delay our process as our guaranteed locked-in rate expired, they ignored all of our many phone calls and emails - complete silence on their end for days. Then the day after our locked-in rate expired, they emailed us saying as of that day, cashcall was halting all business for 2 weeks. Unbelievable.

    I then looked them up more online and they've actually been involved in class-action lawsuits, overcharging people high-interest rates and with a business model of assuming 40% will default on their loans, as well as illegal dealings where they tried to do business unlicensed in certain states by claiming they were 'tribal-affiliated'. Very shady, very sketchy business, would absolutely not recommend to anyone for mortgage or refinance. Much better to pay a few more dollars in up-front fees than to deal with an illegal company that does not run an honest business. Home Mortgages are the most money you'll spend in your life - you need to be able to trust the people you're dealing with and who you're writing your monthly checks to, and it's 100% you can't trust Cashcall.

    33 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 2, 2020

    I applied for a refi mortgage with Cash Call - Impac Mortgage and was told welcome back, as I had a mortgage with them and still have another one on rental property. Send in all info, got back a closing date and all figures and sign the online papers, then all hell breaks lose. "We need to verified your employment", had already send check stubs taxes and w 2's from the present and past employers [[2 of them]] then no matter what I sent per new request it was not good enough. 5 days. 1100 per week - 6 days 1320, then "we need a breakdown, we need to verify." Mind you checks stubs, taxes and w2's and a letter from each employer. Still "we need to verify", no matter what, still "we need more", then a letter, "No problem with anything on you, but denial, because fha loan no longer available. This after over 2 mos of ** from them. Yet their web page is still offering even lower interest loan from the fha,

    21 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 31, 2020

    I locked in at 2.99% for a 15 year loan. We had 30 days to close - but we could never get ahold of anyone. Finally, the day after our term expired (without progress) we were told that the market liquidity would not support this loan. We have excellent credit and were just refinancing to save some money. Carlos **, who responded conveniently one day after our term expired, said that an act of God prohibited CashCall from contacting us during the 30 day process. This is beyond ridiculous. Now rates have jumped. Never use these guys!

    18 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: March 13, 2020

    Easiest refinance ever, no points, no fees, no surprises at the end either. This was all done in three weeks, including appraisal, bank statements, proof of income, and of course a credit check. The customer service was excellent, in fact I have never dealt with a mortgage company this organized and truly cared about our interests regarding the loan. We went with a 15yr. fixed at 2.75%, saving us thousands! Want a great loan? Go with Cash Call!

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 1, 2020

    My loan with Cashcall Loancare was a nightmare. When you call their 800 numbers to get assistance regarding your loan, it cycles 7-times with options making it difficult to speak to a live person and finally when you reach the department you need to speak to, you receive a prerecorded message advising of what you already know. The worst part is you will never get assistance on the same day a supervisor will call you back within 24-48 hours, and will not offer assistance. Second, Loancare missed paying my property taxes last year I discovered when I was refinancing the loan. Loancare never called to apologize and did not give me an explanation as to why they did not pay it from my escrow account. Third, the customer service agents cannot assist you with questions, or the info they provide is not factual.

    Fourth, I refinanced the home loan to my credit union when rates dropped and Loancare sold my loan to Mr. Cooper somewhere in Texas after my loan was paid off ZERO and recorded my property as Loancare on the deed when my credit union had already recorded. Fifth, Loancare said they mailed out my escrow refund on December 10, 2019, and claimed several times it was mailed so after never receiving it I complained. They asked me to wait 15-days to see if someone would cash it, and the refund never arrived so they stopped payment on the check in January 2020. On February 6, 2020, I received the escrow refund STOP PAYMENT CHECK Loancare claimed they mailed out December 10, 2019 with a USPS postmark of January 30, 2020.

    If this isn't an awful mortgage company/servicer I don't know which company can beat their mistakes and bad customer service. Oh, I forgot to mention, they unlawfully have used my credit report to add the loan which was paid off back on my credit reports, which I had to dispute last week with the Consumer Financial Protection Agency.

    9 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Jan. 20, 2020

    Refinancing my house recently I had an great experience with the loan officer Antone **. As most people recognize this is generally can be a tedious process but I was truly impressed with the honesty and efficiency which really took less than 3 weeks to close. This is not the standard in the industry. Within the first 30 minutes of the qualifying process I had a good feeling about terms, pricing and duration. Kudos my friend you will be hearing from me shortly about my renal! Job Well Done!

    Ed.

    3 people found this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: Nov. 8, 2019

    Asia was great getting me through the application process and getting me approved. He said Matt the Loan processor will process all the info and get me through closing, and he too was awesome. It was almost like they were at the closing table. Thank you guys, What a great experience.

    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 3, 2019

    I have been trying to get an escrow account since August. I've provided everything they need multiple times. They always say it will be set up by a certain date and it never gets done! I call every single day and no one ever gives me the right information! Beyond frustrated! I'm going to write this review on every board I can find! If you want to get the runaround, have no one know what they are talking about, have terrible service and have to call every day and have nothing happen, get a mortgage with CashCall!

    28 people found this review helpful
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    ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page. Specific sources for this article include:
    1. Federal Financial Institutions Examination Council, “HMDA Data Publication.” Accessed Aug. 31, 2022.
    2. Freddie Mac, “30-Year Fixed-Rate Mortgages Since 1971.” Accessed Aug. 31, 2022.

    CashCall Mortgage Company Information

    Company Name:
    CashCall Mortgage
    Website:
    www.cashcallmortgage.com