Breakdown of Blue Spot evaluate rating
- Affordability: 14.75/15
- Availability: 14/15
- Borrower expertise: 10/10
Execs and cons
- Low down cost requirement (as little as 3 % down)
- Big selection of mortgage applications
- Low-down cost mortgage choices accessible
- Useful calculators to estimate homeownership prices
- Frequently up to date and printed charges
- Not accessible in 14 states
- Stricter FHA credit score rating necessities
Debtors who need a variety of mortgage applications, simple on-line estimates and a quick closing.
Blue Spot Mortgage has earned an A+ from the Higher Enterprise Bureau, the best accreditation rating. The lender has acquired prime honors on the native stage, too. For instance, its department in The Woodlands, Texas, has been named the very best mortgage firm by the neighborhood yearly for the previous decade.
Refinancing with Blue Spot
In the event you’re trying to refinance your mortgage, Blue Spot Mortgage affords 15-year, 20-year and 30-year choices. Rates of interest are usually decrease than the nationwide common as of August 2021, and you will get a fast snapshot of various choices accessible primarily based in your credit score rating, present mortgage stability, location and some different components. The prices embody an origination price, underwriting price and a courier price, though the particular price ticket for every of those is just not publicly listed on-line. Nonetheless, there are versatile factors choices to assist if you wish to keep away from paying upfront for a few of these prices. (When you’ll pay much less when the mortgage closes, you can pay extra over the lifetime of the mortgage because of the next rate of interest.) You may get a price quote and apply on-line.
To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial workforce charges lenders on a scale of 1 to 5 stars primarily based on quite a lot of components referring to the lender’s services. The Easy Greenback’s companions compensate us, however our opinions are our personal, and accomplice relationships don’t affect our critiques. Right here is our full methodology.