CashCall Mortgage Review 2021

Good for: borrowers looking for conventional or VA loans.

Phil MetzgerJanuary 3, 2021
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Our Take

3.5

NerdWallet rating 

The bottom line: CashCall Mortgage has a limited loan selection. And although it offers several online conveniences, you’ll have to contact the lender for customized rates and to start your application.

CashCall

CashCall: NMLS#128231

Min. Credit Score

680

Min. Down Payment

5%

Loan Types and Products

Purchase, Refinance, Fixed, FHA, VA

Pros & Cons

Pros

  • Offers 15- and 30-year high-balance conforming loans.

  • Provides numerous online conveniences including loan process updates and e-signatures.

  • Sample rate information available online for various products.

Cons

  • Doesn’t appear to offer FHA, jumbo, home equity or adjustable-rate mortgages.

  • Must contact the lender for customized rates.

Compare to Other Lenders

NerdWallet rating 
NerdWallet rating 
Min. Credit Score

620

Min. Credit Score

620

Min. Down Payment

3%

Min. Down Payment

3%

Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA

Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable

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Full Review

Due to the coronavirus pandemic, getting a mortgage may be a bit of a challenge. Lenders are dealing with high loan demand and staffing issues that may slow down the process. Also, some lenders have increased their fees or temporarily suspended certain loan products. If you can’t pay your current home loan, refer to our mortgage assistance resource. For the latest information on how to cope with financial stress during this pandemic, see NerdWallet’s financial guide to COVID-19.

CashCall Mortgage at a glance

CashCall Mortgage offers a relatively limited number of loan products but does offer one less-common option: a high-balance conforming loan. You’ll have to contact a loan officer before you can start an application, and you can’t get customized rates online.

Here’s a breakdown of CashCall Mortgage’s overall score:

  • Variety of loan types: 3 of 5 stars

  • Variety of loan products: 2 of 5 stars

  • Online convenience: 4 of 5 stars

  • Rates and fees: 3 of 5 stars

  • Rate transparency: 4 of 5 stars

CashCall Mortgage loan types and products

CashCall Mortgage offers conventional and VA mortgage options for home buyers and refinancers, but doesn't appear to offer FHA loans, jumbo loans or adjustable-rate mortgages. Home equity loans and lines of credit are also missing from the menu. CashCall does offer a high-balance conforming loan. It can be a good alternative to a jumbo loan for those purchasing a more expensive home in certain select areas of the country.

CashCall Mortgage online convenience

On the CashCall website, selecting the “Apply Now” button takes you to a form that initiates contact with a loan officer. Once that discussion has taken place, the lender says you can submit and sign documents online, and track the loan process digitally.

CashCall Mortgage mortgage rates and fees

One of the most important considerations when choosing a mortgage lender is understanding what the loan will cost. In order to provide consumers with a general sense of what a lender might charge, NerdWallet scores lenders on two factors regarding fees and mortgage rates:

  • A lender's average origination fee compared with the median of all lenders reporting under the Home Mortgage Disclosure Act. CashCall Mortgage earns 3 of 5 stars on this factor.

  • A lender's offered mortgage rates compared with the best available on comparable loans. CashCall Mortgage earns 3 of 5 stars on this factor.

CashCall’s website advertises a $995 flat fee for many of its products, but fine print indicates that the flat fee is available only if those products are used to refinance.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

You can decide to buy discount points — a fee paid with your closing costs — to reduce your mortgage rate.

Deciding whether to pay higher upfront fees is a matter of considering how long you plan to live in your home and how much cash you have to apply toward closing costs when you sign the loan paperwork.

CashCall Mortgage rate transparency

Links to sample rates for a couple of loan products — along with fee disclosures and assumptions — are offered on the CashCall Mortgage website. The lender also provides links to its fee disclosures and assumptions — the type of borrower you’d have to be to get those rates. On the day we checked, CashCall was assuming up to a 40% down payment and credit scores well over 700 for some loan products. The only way to get a personalized rate quote is to contact a CashCall loan specialist.

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