Breakdown of Blue Spot overview rating
- Affordability: 14.75/15
- Availability: 14/15
- Borrower expertise: 10/10
Execs and cons
- Low down fee requirement (as little as 3 % down)
- Wide selection of mortgage packages
- Low-down fee mortgage choices out there
- Useful calculators to estimate homeownership prices
- Frequently up to date and revealed charges
- Not out there 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 stage, too. For instance, its department in The Woodlands, Texas, has been named the perfect mortgage firm by the group yearly for the previous decade.
Refinancing with Blue Spot
In the event you’re seeking to refinance your mortgage, Blue Spot Mortgage provides 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 out there based mostly in your credit score rating, present mortgage stability, location and some different components. The prices embrace an origination payment, underwriting payment and a courier payment, though the precise price ticket for every of those will not be publicly listed on-line. Nevertheless, 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 possibly can pay extra over the lifetime of the mortgage as a result of a better rate of interest.) You may get a fee quote and apply on-line.
To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial group charges lenders on a scale of 1 to 5 stars based mostly on quite a lot of components referring to the lender’s services and products. The Easy Greenback’s companions compensate us, however our opinions are our personal, and associate relationships don’t affect our critiques. Right here is our full methodology.