Breakdown of Blue Spot evaluate 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 out there
- Useful calculators to estimate homeownership prices
- Often 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, straightforward 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 high honors on the native degree, 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
For those who’re trying to refinance your mortgage, Blue Spot Mortgage affords 15-year, 20-year and 30-year choices. Rates of interest are typically decrease than the nationwide common as of August 2021, and you will get a fast snapshot of various choices out there primarily based in your credit score rating, present mortgage steadiness, location and some different components. The prices embody an origination charge, underwriting charge and a courier charge, though the precise price ticket for every of those just isn’t 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 possibly can pay extra over the lifetime of the mortgage as a result of a better rate of interest.) You will get a charge quote and apply on-line.
To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial crew 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 associate relationships don’t affect our critiques. Right here is our full methodology.