Breakdown of Blue Spot assessment rating
- Affordability: 14.75/15
- Availability: 14/15
- Borrower expertise: 10/10
Execs and cons
- Low down fee requirement (as little as 3 p.c down)
- Big selection of mortgage packages
- Low-down fee mortgage choices accessible
- Useful calculators to estimate homeownership prices
- Usually up to date and printed charges
- Not accessible in 14 states
- Stricter FHA credit score rating necessities
Debtors who need a variety of mortgage packages, simple on-line estimates and a quick closing.
Blue Spot Mortgage has earned an A+ from the Higher Enterprise Bureau, the very best accreditation rating. The lender has obtained prime honors on the native degree, too. For instance, its department in The Woodlands, Texas, has been named the very best mortgage firm by the group yearly for the previous decade.
Refinancing with Blue Spot
If you happen to’re trying to refinance your mortgage, Blue Spot Mortgage presents 15-year, 20-year and 30-year choices. Rates of interest are usually decrease than the nationwide common as of August 2021, and you may get a fast snapshot of various choices accessible based mostly in your credit score rating, present mortgage steadiness, location and some different components. The prices embrace an origination payment, underwriting payment and a courier payment, though the particular price ticket for every of those will not be 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 would pay extra over the lifetime of the mortgage resulting from a better rate of interest.) You will 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 based mostly 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 companion relationships don’t affect our evaluations. Right here is our full methodology.