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Save Financial

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LAST UPDATED: June 7th, 2022

Founded in 2009, Save Financial is a mortgage lender specializing in conforming loans located in Newport Beach, California. The company offers flexible loan amounts, timelines, and approval programs. In addition, the company offers a number of specialty benefits that eliminate costs and make homeownership more affordable. 

If you are interested in learning more, check out Save Financial reviews from real customers below.

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The Good

  • Specializes in Conforming Loans
  • High Loan Amounts
  • No Closing Costs
  • Refinancing Options

Specializes in Conforming Loans

Save Financial specializes in conforming loans, both for purchase and refinance. It offers a regular conforming loan as well as a super conforming loan.

Both these loans provide flexibility in terms of its loan timelines and financing approval programs. There are financing options available for 30, 20, 15, and 10 years. Typically you don't have as many options as this. As far as loan approval programs go, there are a few different bank statement options that make is easier to calculate your income without a formal W2, such as:

  • 12-month bank statement program
  • VOE only program
  • One month bank statement program
  • Low FICO program

If you are interested in a conforming loan, Save Financial offers great flexibility in nearly every aspect of the financing process.

High Loan Amounts

The average national conforming loan limit is $582,250. Save Financial offers a loan that meets the national conforming loan limit, plus one with a higher loan limit, called a super conforming loan. Its super conforming loan limit is up to $822,375.

It is rare for a mortgage lender to offer a conforming loan that is this large. If you are in need of a larger loan, Save Financial is one of the few lenders that offers a loan product that can meet your needs.

No Closing Costs

Because Save Financial only offers conforming loans there are a number of financial benefits that accompany this type of loan. For example, no closing costs. Save Financial claims to not charge any closing costs for both its purchase and refinance loans.

Closing costs typically are a few thousands dollars. This benefit alone makes Save Financial a great option if you are wanting to pay as little upfront as possible.

Refinancing Options

In addition to home purchase options, Save Financial also offers refinancing options for 30-, 20-, and 15- year fixed mortgages, as well as 5-year adjustable rate mortgages (ARMs).


The Bad

  • Limited Financing Options
  • Licensed Only in California

Limited Financing Options

It is unclear how many loan products Save Financial offers. It advertises both a purchase and refinance conforming loan, but it is unclear if the company offers any other home loan options that are not within FHA approved guidelines.

If you do not qualify for financial assistance, then it is best to look into another mortgage lender that offers more loan products, such as a traditional 30-year loan or jumbo loan.

Licensed Only in California

Save Financial is only licensed in California. Thus, if you don't reside in this states, Save Financial's mortgage products and services will not be available to you.


The Bottom Line

If you are looking to buy or refinance a house in California with a conforming loan, then Save Financial is a great option to consider. It offers great flexibility with its loan products, making it easy to find the right solution for your needs.

Consider visiting the company's website and use its loan calculator to get an instant estimate of what your mortgage payment and interest rate could look like. It is odd in the industry to advertise no closing costs, which is a common practice and requirement in the industry. Without these costs, you might be paying more elsewhere for your mortgage.

Overall, before making a borrowing decision, we would recommend looking into other mortgage lending options.

View Best Mortgage Lenders

Save Financial reviews are currently limited. If you have financed your home purchase with this company, please tell us about your experience by leaving a review.

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