Sage Mortgage

Sage Mortgage publishes its daily starting rates and annual percentage rates (APRs). These rates change often, so consider them estimates until you submit your application.

Your rate might be higher than current mortgage rates because the lowest rates are reserved for the most ideal borrowers: those with excellent credit scores, low debt burdens and large down payments. Lowering your debt obligations before applying for a home loan or refinance can increase your credit score and help you secure a lower interest rate.

Start your new purchase or refinance application online or by scheduling a call with Sage Mortgage. You should get a pre-qualification letter as soon as within three minutes of applying. As you move forward with the mortgage process, all of your documents can be uploaded digitally through the borrower portal. Through this platform, you can message your loan officer and monitor your progress.

Sage Mortgage has a standard loan application for all homebuyers; it is a good fit for individuals who want a conventional loan. However, other options are limited. Other home loans that might fit your unique needs better are available through other lenders. Government-backed loans, like FHA and VA loans, have flexible credit score and down payment requirements that are worth looking into.

Refinancing

When comparing mortgage refinance rates, you should compare fees and how much you will need to pay out of pocket. Sage Mortgage allows homeowners to roll their fees into the new loan. Sage Mortgage claims its refinance rate is 30% faster than the industry average.

Before you submit your application through Sage, you can select, “I’d like to figure out how much house I can afford,” on the form. This is a good first step before requesting a pre-qualification. Knowing how much house you can afford helps you avoid borrowing too much on a home and winding up in a precarious financial situation later.

During the pre-qualification process, expect to have to show the following:

• A government-issued ID
• Proof of income and employment history
• A list of your bank accounts and assets

National mortgage requirements by type

One of the top overlooked fees when buying a home is the closing costs. Sage Mortgage does not publish its list of closing costs on its site, but you will receive estimates after applying. Some common closing costs include:

• Appraisal fee
• Inspection cost
• Origination fee
• Title search
• Attorney fee
• Recording fee
• Survey fee
• Additional insurance, such as flood insurance or private mortgage insurance (PMI)