Sage Mortgage is an online mortgage purchase and refinancing broker which works closely with numerous lenders to find the best deals for the borrower. The South Carolina-based company has been in business for a number of years now.
The rates that are offered tend to be competitive and borrowers will be able to work directly with a dedicated loan officer throughout the process. This review will look at all aspects of the Sage Mortgage offering.
In a Nutshell
|Mortgage types offered||Home Purchase, Mortgage Refinancing|
|Mortgage amount||Depends on the chosen lender|
|Repayment terms||Usually 15, 20, or 30 years|
|APR||As low as 4.667%|
|Minimum credit score||Typically 620|
People who are looking to quickly see the best lenders for their needs and to get access to a dedicated loan officer.
Pros & Cons
- Works with respectable lenders
- Simply online application process
- Borrowers get access to a dedicated loan officer
- Quick closing times usually
- No VA Loans
Getting started with Sage Mortgage is very quick and easy. Before you commit to the pre-qualification process, you are able to get into contact with a loan officer to discuss the merits of using Sage Mortgage. There are no application fees that you will have to pay and the process is open online 24/7, every day of the year.
To get a quote, you just need to answer a few standard questions. The questions will vary somewhat depending on if you are looking to get a mortgage home purchase loan or if you want to refinance an existing loan. Once you provide some standard information about your income and the details about the home in question, you will be good to go. No hard credit check will be completed at this point in time.
Once you get a quote for Sage Mortgage, you will be able to decide between the various options that have been presented. If you find something that you wish to proceed with, you will then need to lodge an official application. There will be a hard credit check conducted then.
Sage Mortgage is committed to getting quick approval for borrowers and aims to have borrowed funds processed in as little as 27 days. On the Sage Mortgage website, it claims to be 30% faster than the industry average when it comes to receiving funds.
Terms & Requirements
Every lender is going to have its own set of terms and requirements regarding its loan offerings. It is important that you are aware of the specific terms before going any further.
While Sage Mortgage works with a number of different lenders, there are some aspects of these offerings that generally stay consistent across the board. Here is a broad look at some of the expected terms and requirements you might come across:
Mortgage Purchase Requirements
Normally, you will need to be at least 18 years old in order to get a loan through the help of Sage Mortgage. Borrowers will also usually need to be a US citizen or hold a relevant type of visa.
Credit score requirements will typically be in place, with Sage Mortgage lenders usually only dealing with people who have a credit score of 620 or higher. The offering is not currently available in every state, so you need to make sure that you are living in an eligible jurisdiction before proceeding.
Some lenders may charge fees with regards to the loan, but Sage Mortgage does not charge borrowers anything. You will be provided with a clear breakdown of any and all fees that are going to be charged before you sign the loan documents.
The main term lengths for a Sage Mortgage loan will be 15 years, 20 years, or 30 years. There can be both fixed-rate and variable-rate loans. At the time of writing this review, the APRs for a mortgage loan started at 4.667%.
The exact APR will depend on the current market conditions, your specific situation, and the respective lender. Late fees or prepayment penalties might be in place in certain cases.
Privacy and Security
Sage Mortgage has developed a good reputation for itself, having an A+ rating with the Better Business Bureau and it also has an Equal Housing Opportunity accreditation. It places a lot of attention on ensuring that all private data is kept fully protected.
There are extensive security measures in place to protect users at all times. It also deals with lenders that have been properly vetted, so you know that you are only dealing with legit operations.
Sage Mortgage has one of the best levels of customer support in the online lending space. Even before you get a loan, you will be able to talk with a dedicated loan officer at Sage Mortgage. This allows you to get any questions quickly answered regarding a potential loan. You can also send general questions via email to the support team, or ring them by phone.
Sage Mortgage has a good reputation for pairing borrowers up with respected lenders that offer competitive rates. There is quick time to funding and the entire online process couldn’t be easier, added to that is the quality level of customer service. Therefore, Sage Mortgage is certainly worthwhile checking out.
1423 Red Ventures Drive, Suite 505
Fort Mill, SC 29707