CashCall Mortgage
Is This Your Business?Author: Kaitlyn Short
Founded in 2003, CashCall Mortgage is a part of the Impac Mortgage Corporation headquartered in Irvine, CA. CashCall Mortgage specializes in low-interest mortgage rates and mortgage refinancing. The lender offers conventional, FHA and VA loans as well as a Common Sense Loans program for borrowers who require alternative loan qualification methods.
Top Ranked Companies
The Good
- Loan Options
- Transparent Lender Fees
- Account Access
- Customer Service
Loan Options
CashCall Mortgage offers the following loan products:
- Common Sense Loans — An alternative loan option for prospective homebuyers who have been turned down for conventional loans
- FHA Mortgage — FHA Streamline and FHA Cash-Out Refinance loans allow borrowers to reduce the interest rate on your home quickly
- VA Loans (fixed-rate and VA IRRRL) — For service veterans, service members, and surviving spouses
- Fixed-Rate Loans — CashCall offers terms of 10, 15, or 30 years
- HARP Loans — Eligible borrowers can refinance a home that has declined in value
Transparent Lender Fees
The CashCall Mortgage homepage advertises a featured product with the lowest available rate and, including interest rate, APR, and a flat fee for both a 15-year fixed rate loan and a 30-year fixed-rate loan. The advertised flat origination fee as of August 2019 is $995. With this origination fee, CashCall Mortgage pays many of the third-party closing costs on your behalf, including escrow, appraisal fees, flood certification fees, signing fees, title insurance, and credit report fees.
Account Access
Since CashCall Mortgage is an online lender, you can upload documents directly through the company’s secure website during the loan application process and login to pay your monthly mortgage payment and manage your loan after closing.
Customer Service
CashCall Mortgage customer service resources include live chat, email, telephone, and callback requests. The company claims to respond to all consumer voicemail and email queries as soon as possible, usually within 24 hours.
The Bad
- Excellent Credit Required
- Loan Limitations
Excellent Credit Required
CashCall Mortgage specializes in working with borrowers with good to excellent credit, so those with poor credit scores may have difficulty qualifying for a home loan with this company. The exception is the lender's Common Sense Loan program which can work with consumers with bad credit.
Loan Limitations
CashCall Mortgage’s fixed loan terms come in three different term lengths only: 10, 15, or 30 years. You cannot customize your loan term.
Additionally, CashCall Mortgage is not currently funding adjustable-rate mortgages.
The Bottom Line
CashCall Mortgage offers competitive interest rates and is transparent about its origination fee. Plus, the corporate website provides a loan calculator to help prospective borrowers calculate their qualifying loan amounts and refi options based on interest rate, loan term, monthly payment, and frequency of payments.
However, it may be difficult for prospective homeowners with a poor credit history to qualify for a CashCall Mortgage home loan, so if you don’t have a high credit score, you may need to look elsewhere for a mortgage. And CashCall Mortgage does not offer adjustable-rate mortgages. While Best Company has not accumulated a good sample size of CashCall Mortgage reviews, there are other highly-rated mortgage lenders that have hundreds of verified reviews to consider.
