Sage Home Loans Is Best For:
- People who are comfortable completing the mortgage process online
- People who are looking for a choice of fixed-rate mortgage terms
- People who want to be quickly prequalified for a mortgage
An Alternative Lender to Consider
How to Qualify
Sage Home Loans doesn’t publicly disclose its mortgage qualification requirements. Typically, lenders will consider factors such as your credit score, debt-to-income ratio and employment.
Realtor.com, the website of the National Association of Realtors, suggests homebuyers need a credit score of at least 650 to qualify for a conventional mortgage and 760 to get the best rates. Your monthly debt payments should not exceed 36% of your monthly income.
Where Does Sage Home Loans Operate?
Sage Home Loans is licensed in all 50 states.
How to Apply
You can apply for a Sage mortgage online in just three minutes, the company says. Their application includes four sections:
- Property information
- Personal information
- Employment
- Pricing
Once you have completed the application and created an online account, you will be assigned a loan officer who will walk you through the next steps.
Be prepared to upload documentation, such as proof of income, to the online borrower portal. After you are under contract to purchase a home, you can lock in mortgage rates for 15-60 days.
Sage’s online application can also be used to prequalify for a loan or see how much house you can afford.
As an online-only lender, Sage Home Loans doesn’t maintain offices for in-person customer service. However, you can call 828-220-4204 for phone assistance.
What Bonuses and Discounts Does Sage Home Loans Offer?
Sage Home Loans guarantees your mortgage will close on time, or they will pay you $500. This offer is subject to certain terms, though, such as having at least 22 calendar days between the rate lock and closing date.
The company also has a Client for Life program, which waives origination fees for returning customers. This offer cannot be used for home equity lines of credit or to refinance a mortgage that was closed and funded by Sage within the previous 180 days.
Buyers and sellers who use a real estate broker through NewZip and close a mortgage with Sage Home Loans can receive a discount on their transaction costs. Buyers are eligible for a closing cost credit equal to 0.5% of the home sale price. Sellers receive a 1 percentage point reduction in their real estate agent commission.
Is Sage Home Loans Reputable?
Sage Home Loans has an A+ rating with the Better Business Bureau.
As a newer company, Sage has relatively few online reviews compared with other mortgage lenders. It does not have any reviews on the BBB website, but it has a “great” rating on the rating website Trustpilot, based on more than 100 reviews. Positive reviews praise individual advisors and their customer service. Negative reviews reference website issues and slow service from loan processors.
Refinancing and Home Equity Options From Sage Home Loans
In addition to mortgages, Sage Home Loans offers cash-out refinancing in 30-, 20- and 15-year terms. It also provides home equity lines of credit. Both refinancing and HELOCs have competitive rates and use an online application process similar to that of mortgages.
An initial payment made when the home is bought.
The amount of time you have to repay the mortgage.
The APR (annual percentage rate) you pay to the lender, which can be found in your loan agreement. The default displayed represents yesterdays national average APR for 30-year fixed mortgages.