CashCall Mortgage Review 2021: Everything You Need to Know

• You’ll have to handle most of the process on the phone, not online or in person.
• The site only has limited online resources. It’s not a robust website intended to be a tool for consumers.
• It doesn’t offer jumbo loans or adjustable-rate mortgages like many other mortgage lenders do.
• The closing costs don’t vanish when you don’t have to pay them upfront. they are built into the loan, which will cost you more in the long term.

What Types of Loans does CashCall Mortgage Offer?

CashCall Mortgage has a limited loan selection, with just two major options and FHA refinance.

• Conventional loans. CashCall Mortgage has 10-, 15- and 30-year fixed-rate loans with rates ranging from 2.750% to 3.660%. Its conforming options for amounts up to $765,600 with rates between 3.375% to 3.806%.
• FHA refinance loans. CashCall offers two FHA loans for refinancing with rates ranging from 3.000% to 4.250%. The FHA Streamline reduces the interest rate on your current home loan, while the FHA Cash-Out Refinance lets you refinance your mortgage by taking out a larger loan than what you currently owe.
• VA loans. Qualified active-service military, surviving spouses and veterans can purchase and refinance a mortgage backed by the government. Rates range from 3.000% to 3.375%.

Other loans offered by CashCall 

Besides traditional loan choices, CashCall Mortgage also has a proprietary loan.

• Common Sense loans. CashCall’s program for homebuyers that struggle to qualify for conventional loans. Self-employed borrowers could benefit by submitting bank statements instead of tax returns. It’s rates aren’t listed on the site, but Common Sense loans offer fixed-rate terms or interest-only payments.
• Cash-out refinance loans. A cash-out refinance gives you a new home loan higher than what you owe on your mortgage. You get the difference between the two loan amounts in cash. Interest rates can be as low as 2.750%.
• No tax-return 30-year fixed loans. Self-employed borrowers that have other verifiable income, assets and collateral can apply for this loan without submitting a tax-return.

Read Also:

• USDA Home Loan Mortgage Calculator: What’s My Payment?
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How to Get a Home Loan With CashCall Mortgage

After calculating how much you can afford for a home – including saving for a down payment and approximate closing costs, follow these steps to get a home loan.

1. Go to CashCall Mortgage’s website, and click Apply now on the home page..
2. Indicate whether you want to Purchase a new home or Refinance your current mortgage.
3. Detail the Property type – for example, single family, condo, planned unit development or two-to-four unit property.
4. Choose the Property use – for example, primary residence, secondary home or investment property.
5. Fill in the Estimated value of the property.
6. Select your Estimated credit score.
7. Detail your Employment and how you plan to prove your income — pay stubs, W-2, tax returns or bank statements.
8. Fill in your contact information including address, email and phone number. You should hear from a loan officer within three business days.

Is CashCall Legit?

The first thing you may be wondering as you sift through CashCall Mortgage reviews is whether it’s a legitimate lender. The answer is yes—it’s a licensed mortgage lender, part of Impac Mortgage Corp.

There has been some confusion about this among customers because an unaffiliated personal loan company named CashCall has been in trouble for lending-law violations recently.

FAQs