Sage Home Loans Mortgage Review 2024

How Bankrate scored Sage Home Loans

• Affordability: Sage Home Loans charges flat fees on loan originations and tends to offer favorable rates.
• Availability: At the time of this review, Sage Home Loans operates in every state except Delaware. It offers borrowers conventional loans for both purchase and refinance, as well as some types of government-backed loans.
• Borrower experience: Sage Home Loans provides an all-digital experience and has an A+ rating from the Better Business Bureau.

Affordability: 9.8/10

Sage Home Loans’ rates were competitive against Bankrate’s averages at the time of this review. Your individual rate will vary based on your credit score and other factors. You can obtain a personalized rate quote by completing a form on the lender’s website or through Bankrate, or by contacting a loan officer directly. Notably, Sage doesn’t include overlays. The lender charges a flat $995 underwriting fee and $499 processing fee.

Availability: 10/10

Sage Home Loans offers both conventional loans (conforming and jumbo) and FHA and VA loans in every state except Delaware. For conforming loans, you could qualify with a debt-to-income (DTI) ratio up to 50 percent.

Borrower experience: 5.8/10

Sage Home Loans currently has an A+ rating from the Better Business Bureau. When working with Sage, you might benefit from the lender’s 100-percent digital experience, which includes a simple, plain-language application and the ability to upload supporting documents and select product and pricing all in the same session. The lender offers three-minute prequalifications as well as verified approvals, and often clears borrowers to close faster than industry averages.

How to apply for a mortgage with Sage Home Loans

You can apply for a mortgage with Sage Home Loans online or by phone at 877-219-6115. Here are some tips to prepare for the process:

1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Sage Home Loans

Sage Home Loans offers both rate-and-term and cash-out refinancing options.

• Methodology

  To determine a mortgage lender's Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender's products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability: Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%
  • Availability: Loan products - 50%; licensing - 40%; credit score - 10%
  • Borrower experience: Rate transparency - 45%; customer service - 25%; convenience - 10%; days to close - 10%; rate locks - 10%; reputation (bonus)

  Learn more about our methodology.