Sage Home Loans Corporation Review

Overview

Sage Home Loans Corporation provides a convenient, efficient online mortgage application process, including rapid online pre-qualification. Borrowers also get support from a dedicated loan officer throughout the whole process. Once approved, you can lock in your rate for up to 60 days. Sage boasts a fast-closing process, too, with most of its loans closing in as little as 27 days—well below the industry average of 30-45 days.

Suitable For?

Sage Home Loans Corporation is ideal for tech-savvy borrowers who prefer an entirely online mortgage experience. Its user-friendly online portal allows you to track your application progress, upload necessary documents, and communicate with your assigned loan officer.

Types of Loans/Products

Sage Home Loans Corporation offers various loan products—including conventional, Federal Housing Administration (FHA), Department of Veterans Affairs (VA), and refinance options—to meet diverse homeownership needs. For refinance loans, Sage offers cash-out refinancing, which enables you to unlock some of your home equity in cash, and rate and term refinancing, which allows you to lower your interest rate or shorten your loan term.

• Credit required: 620 for conventional loans, 580 for FHA loans
• Minimum downpayment: 0% for VA loans; 3% for conventional loans; 3.5% for FHA loans; 20% for Jumbos and HELOC's
• Loan terms: 15-30 years
• Eligibility: Varies by loan type

The Application Process

The application process with Sage is straightforward and, as mentioned, completely online. Here’s how it works:

• Pre-qualification: Start by going to Sage’s website and filling out a form to get pre-qualified. This process takes just a few minutes and requires basic information about your finances and the type of loan you seek. Sage uses a soft credit inquiry here, so your credit score remains unaffected.
• Apply formally: Once you have an offer accepted or are under contract, return to Sage’s website to formally complete your application. This step requires more detailed financial information and supporting documents, including proof of ID, a signed purchase contract, proof of income, and a recent bank statement. Having these documents ready in advance can help speed things up. During this step, Sage will assign you a dedicated loan officer to assist with any tasks, including choosing the most appropriate loan option for your needs.
• Underwriting and appraisal: After submitting your application, Sage will begin the underwriting process, which involves thoroughly reviewing your financial information, credit history, and the details of the property you’re purchasing. Sage will also order an appraisal of the property to determine its market value. Your loan officer will notify you if additional documents or information are needed during this step.
• Approval and closing: Once your application is approved, Sage will send you an official loan agreement outlining the terms and conditions. If you accept the terms, the final step is scheduling the closing. During closing, you’ll sign all necessary documents and the loan will be officially disbursed.

Rates and Terms

Sage offers fixed-rate and adjustable-rate mortgages with flexible repayment terms of 15-30 years. To see the current rates of some of its most popular loan options, go to the Sage Home Loans Corporation website and click “Today’s rates” from the top menu. For a personalized rate quote tailored to your financial situation, select the “Get a Custom Quote” option and provide the requested information.

Help & Support

Sage offers customer support via phone and email, Monday through Friday, 9am-5pm, ET.

• Email: hello@sagehomeloans.com
• Phone: 888-860-3004

Summary

Sage is an online mortgage company that serves customers from all 50 states except New York. The company specializes in home purchase and refinance loans, offering flexible terms ranging from 15 to 30 years with options for both fixed and adjustable rates. You can complete the entire mortgage application process online, and you’ll have a dedicated loan officer to guide you through each step. Sage is known for its fast mortgage processing, with most loans closing within four weeks or less.

Physical Address

1423 Red Ventures Drive Suite 201 Fort Mill, SC 29707

Methodology

The information used to complete this review was gathered from the Sage Home Loans Corporation website and Bankrate (owned by Sage Home Loans Corporation’s parent company, Red Ventures).