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CashCall Mortgage specializes in low-interest mortgage loans for borrowers looking to purchase or refinance a home. Based in Irvine, Calif., CashCall offers a variety of mortgage products, including non-conventional options for real estate investors and self-employed borrowers.
At a glance: CashCall Mortgage has loans for borrowers who might have trouble getting financing elsewhere, but most borrowers will find it difficult to qualify for the rates advertised on its website.
In this review:
CashCall mortgage purchase review
Best for:
- Real estate investors
- Self-employed borrowers
- Borrowers who need a jumbo loan
Standout feature: CashCall Mortgage’s Common Sense Loan program makes it easier for self-employed homebuyers and real estate investors to borrow money.
CashCall’s home loan selection is basic and straightforward. The lender offers conventional fixed-rate loans, VA mortgage loans, and jumbo mortgages.
In addition to these offerings, CashCall also has a Common Sense Loan program for buyers who need alternative ways to document their income. For instance, self-employed borrowers can use bank statements in lieu of tax returns, and investment-property buyers can use the property’s cash flow to bolster their mortgage application.
You can look over rates for each loan type on the CashCall Mortgage website, but be sure to review the additional information — such as the lender’s loan assumptions and adjustments — for a more accurate estimate of what you might pay.
| Mortgage programs | Conventional, jumbo, VA, Common Sense |
| Fixed-rate loan terms | 10, 15, 30 years |
| Rates and fees |
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| Min. credit score | 560 to 660 |
| Min. down payment |
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Pros and cons of buying a home through CashCall
CashCall may benefit buyers who need an alternative documentation loan, but make sure to weigh the pros and cons before using it as your mortgage lender.
Pros
- Common Sense Loans for borrowers needing an alternative documentation loan
- Highly transparent about rates
- Can start applying for a mortgage without talking to loan rep
Cons
- $995 “flat fee” and no closing costs are advertised across website, but disclaimer states the offer is only good on refinance loans
- Narrow selection of loans
- No adjustable-rate mortgages
Shopping around for a mortgage can be stressful. Fortunately, Credible simplifies this process and makes comparing multiple lenders easy. While you won’t find loans from CashCall Mortgage with us, you can see prequalified rates from our partner lenders and generate a streamlined pre-approval letter in just a few minutes.
CashCall mortgage refinancing review
Best for:
- Homeowners who qualified for VA financing
- Self-employed borrowers
- Highly qualified borrowers
Standout feature: For its mortgage refinance loans, CashCall charges a $995 origination fee and will pay your closing costs as long as you meet the loan minimum.
CashCall’s refinance offerings are similar to its purchase loan offerings: you can refinance fixed-rate conventional loans, jumbo loans, and VA loans.
There is a cash-out refinance option for conventional and jumbo mortgages, but the only VA refinance product available is the Interest Rate Reduction Refinance Loan (IRRRL).
As long as you borrow at least $200,000 or $250,000 — depending on what state you live in — you’ll pay a flat origination fee of $995. CashCall will also cover your regular closing costs, including:
- Appraisal fees
- Escrow fees
- Title insurance
- Credit report fees
- Flood certification.
VA funding fees are not covered. You’ll also be responsible for other fees such as:
- Property taxes
- Homeowners insurance
- Inspections
- Surveys
- Lender payoff fees
- Mortgage discount points
| Mortgage programs | Conventional, jumbo, VA (IRRRL) |
| Fixed-rate loan terms | 10, 15, 30 years |
| Rates and fees |
|
| Min. credit score | 560 to 660 |
Pros and cons of refinancing through CashCall
CashCall’s $995 flat fee for its refinance loans is a nice bonus, if you can meet the high minimum amount to qualify.
Pros
- $995 loan origination fee
- No closing costs
- Conventional and jumbo cash-out loans available
Cons
- No VA cash-out refinance loan
- Still responsible for various fees
- High loan amount required to get the $995 flat rate
Learn More: How to Refinance Your Mortgage in 6 Easy Steps
How does CashCall stack up?
If CashCall’s Common Sense Loans piqued your interest, take a look at Carrington Mortgage Services as well. Carrington offers non-conforming loans for self-employed individuals and others who don’t fit neatly into the “qualified borrower” mold.
Credible allows you to compare mortgage rates from our partner lenders without affecting your credit. Our platform automates much of the origination process, so you can get your pre-approval letter and apply for a mortgage loan without leaving our website.
Keep Reading: Can You Close on a House Remotely? Buying a Home Online
