CashCall Mortgage Review

CashCall Mortgage at a glance

Lender rating: 4.5 out of 5

Minimum credit score: 580 to 620   Minimum down payment: 0% to 3.5%   Available loan products and programs: Conventional, FHA, VA, jumbo, HELOCs

CashCall Mortgage is a California-based lender and part of Impac Mortgage Holdings, which acquired CashCall in 2015. Even though it’s a wholly owned subsidiary, CashCall Mortgage still retains its name and branding, offering mortgages in 41 states plus the District of Columbia.

CashCall Mortgage products

Conventional

• Fixed-rate mortgages with 10-, 15-, 20- and 30-year terms
• High-balance loan amounts are available with 15- and 30-year terms
• ARMs and conventional refinancing aren’t available
• Typical conventional mortgage requirements include a 3% down payment and a 620 credit score

FHA

• Federal Housing Administration (FHA) loans are available in 30-year terms
• 580 minimum credit score and 3.5% minimum down payment required

VA

• 30-year and 15-year mortgages backed by the U.S. Department of Veterans Affairs (VA) are available, including high-balance loans up to $765,600
• General VA loan requirements include a 0% down payment and 620 credit score

Jumbo

• 30-year fixed-rate jumbo loans are available up to $3 million

Home Equity

Home equity lines of credit (HELOCs) are available to borrowers with a credit score of at least 700.

Special programs

• Investment property loans are available to empower real estate investors and house-flippers
• CashCall offers a bank statement program designed for self-employed borrowers
• The 1099 earner program is made for homebuyers who are independent contractors or have commission-based incomes

CashCall Mortgage rates and fees

Rates

CashCall discloses the rates for most of its products online.

Compared to other large national lenders, CashCall’s rates are on the higher end, and on average came in around 0.84 percentage points above the average prime offer rate (APOR) in 2022. The APOR is a benchmark rate that captures what is, in effect, the lowest APR a bank is likely to offer in the current market. Mortgage loans aren’t typically considered “higher-cost” until they reach 1.5 percentage points over the APOR.

Fees

If you take out a mortgage with CashCall, you’ll pay a $995 origination fee. Other fees, including private mortgage insurance (PMI) could apply, depending on your situation.

The average total cost of taking out a mortgage with CashCall was $5,445 in 2022, according to data from the Federal Financial Institutions Examination Council (FFIEC). That included an average of $4,076 in lender fees.

CashCall Mortgage’s application experience

You can apply to CashCall Mortgage online. Once you click the “Apply Now” button on the website, you’ll choose between the purchase and refinance options. If you’d rather call the lender instead of filling out forms yourself, you have the option to give them a ring and potentially speed up the application process.

To complete an application, you’ll answer questions about the home you want to buy or refinance and your personal details. You may be asked to provide paystubs and other documents. After you submit your answers and paperwork, a loan officer will review everything and may extend an offer. Here’s a guide on the entire mortgage process if you’d like an overview.

How to boost your loan approval odds

CashCall doesn’t reveal the exact minimum requirements it uses to approve or deny your application. However, based on nationwide data from 2022, we can say that CashCall approved customers who — on average — had:

• A 60% loan-to-value (LTV) ratio or better
• A debt-to-income (DTI) ratio below 40%

In that same year, CashCall denied about 53% of its mortgage applications. That’s fairly high when compared with other large, national mortgage lenders — but not “off-the-charts” high. For comparison, most large lenders have denial rates in the low teens through mid-thirties.

CashCall Mortgage’s customer service experience

You can contact CashCall Mortgage by email at [email protected] and by phone at 866-708-5626, which is available 24/7 for new customers and applicants. There’s also a live chat option available during business hours.

If you need to fax any documents for your application, the fax number is 866-698-3225. Once you apply for a loan, the specific customer service line is 866-579-2962.

At any point, if you have complaints, you can email [email protected]. CashCall states that you’ll typically receive a response within 24 hours.

How does CashCall Mortgage compare to other lenders?

	CashCall Mortgage	PenFed	Rocket Mortgage
Lender rating
Minimum credit score	580 to 620	620 to 650	580 to 620
Minimum down payment	0% to 3.5%	0% to 3.5%	0% to 3%
Loan products and programs	Conventional FHA VA Jumbo	Conventional FHA VA Jumbo HELOC	Conventional FHA VA Jumbo Home equity loans
Rate spread*	0.84%	0.11%	0.42%

*Rate spread is the difference between the average prime offer rate (APOR) — the lowest APR a bank is likely to offer any private customer — and the average annual percentage rate (APR) CashCall offered to mortgage customers in 2022. The higher the number, the more expensive the loan.

How we rated CashCall Mortgage

LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.

LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.

CashCall Mortgage’s scorecard: 4.5/5

  Publishes rates online

  Offers standard mortgage products

  Includes detailed product info online

⭕ Shares resources about mortgage lending

  Provides an online application