CashCall Mortgage Review 2024
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
500 to 680
0% to 5%
Conventional, FHA, VA, investment property, bank statement, ITIN, HELOCs, jumbo
See how we reached our verdict below.
- Loans for those who are self-employed or who need alternative qualification methods
- Rates for some products updated online daily
- Loans for those without a Social Security number
- No USDA loans offered
- Only available in 17 states
- Higher costs and rejection rates on average than other similar lenders
CashCall Mortgage overview
CashCall was founded in 2003. It’s headquartered in Newport Beach, California. Its website does not include detailed information about the company’s history or leadership.
- Areas of service: CashCall is licensed in 12 states: Arizona, California, Colorado, Florida, Idaho, Nevada, New Jersey, North Carolina, Pennsylvania, Tennessee, Texas and Washington
- Digital service: CashCall specializes in digital mortgages.
- Headquarters: 4000 MacArthur Blvd., Suite 6000, Newport Beach, CA 92660
- Website: CashCallMortgage.com
CashCall rates, terms and fees
Rates
CashCall is transparent about its rates to some degree, publishing rates for some (though not all) of its products on its website and updating them daily.
Based on national Home Mortgage Disclosure Act (HMDA) data, the average interest rate on a CashCall mortgage in 2023 was 9.54%. The company’s average rate spread that year was 3.45 percentage points, which is the difference between the average prime offer rate (APOR) and the average annual percentage rate (APR) CashCall offered to mortgage customers in that year.
The higher the rate spread, the more expensive the loan, and CashCall’s spread was significantly higher than most other similar mortgage lenders. Only one lender in our analysis had a higher rate spread, and most were less than half of CashCall’s. Note that in 2022, CashCall’s average interest rate was 4.48% with a rate spread of 0.84 — a major jump from 2022 to 2023.
Fees
CashCall doesn’t share fees on its website. However, based on HMDA data, we know the average CashCall origination charge in 2023 was $4,512. That’s on the higher side among other lenders in our database, whose origination charges range from less than $1,000 to more than $7,500. CashCall’s average total loan cost was $7,799, which is also on the higher end of average, with total average loan costs among lenders ranging from just over $2,400 to more than $12,000.
What discounts does CashCall offer?
CashCall doesn’t advertise any discounts.
What types of mortgage loans does CashCall offer?
CashCall offers a variety of home loans including:
Additionally, CashCall offers fixed-rate investment property loans, also referred to as Debt Service Coverage Radio (DSCR), for those purchasing investment properties. They also offer loans that borrowers can qualify for with alternative means, such as their bank statements — rather than W2s or tax statements — or with an individual taxpayer identification number (ITIN) if they don’t have a Social Security number.
Conventional loans
CashCall offers conventional 15-year and 30-year fixed-rate mortgages with conforming loan amounts of up to $766,550 and high-balance conforming loan amounts of up to $1,149,825 in certain counties.
Conventional loan qualification requirements
- Debt-to-income (DTI) ratio of less than 50%
- Minimum 620 credit score
FHA loans
CashCall offers loans backed by the Federal Housing Administration (FHA) of up to $766,550. These loans are easier to qualify for than traditional loans but also come with extra costs in the form of mortgage insurance.
FHA loan qualification requirements
- Minimum 500 credit score
- Minimum 3.5% down payment
- Maximum DTI “higher” than allowed for other loan programs, though exact limit not specified
VA loans
CashCall offers fixed-rate loans backed by the U.S. Department of Veterans Affairs (VA) of up to $766,550. These loans, offered to qualified military service members and veterans, have less stringent qualification requirements than traditional loans.
VA loan qualification requirements
- No down payment required
- Minimum credit score not disclosed
Jumbo loans
CashCall offers fixed-rate jumbo loans, which are loans with limits greater than local conforming loan limits. CashCall offers jumbo loans of up to $3 million.
Jumbo loan qualification requirements
- Minimum 680 credit score
- Cash flow of the property considered during qualification process
- Minimum of four years since bankruptcy declaration, if any
Home equity lines of credit
CashCall doesn’t offer home equity loans, but it does offer home equity lines of credit (HELOCs) with a minimum line amount of $25,000 and a maximum line amount of $500,000. The draw period is 10 years.
Home equity loan qualification requirements
- Minimum 640 credit score
CashCall mortgage qualifications
| Credit score minimum | 500 to 680 |
| DTI ratio Debt-to-income (DTI) ratio compares your monthly gross income to your monthly debt payments. maximum | Conventional: 50% FHA: Not disclosed VA: Not disclosed Jumbo: Not disclosed |
| Down payment minimum | Conventional: 5% FHA: 3.5% VA: 0% Jumbo: Not disclosed |
Don’t know your credit score? Get your free score on LendingTree Spring today.
How to boost your loan approval odds
CashCall doesn’t disclose specific guidelines for the acceptance or rejection of loan applications. However, 2023 HMDA data shows CashCall-approved consumers had an average loan-to-value (LTV) ratio of 65% that year. Most had a DTI of less than 40%, and none had a DTI of more than 43%.
Overall, CashCall accepted 42.9% of loan applications, leaving 57.1% rejected. This rejection rate is high among large lenders, whose denial rates generally range from the low teens to mid-30s.
How to apply for a CashCall mortgage
1. Choose your loan type
CashCall outlines the types of loans offered on its website with information about loan limits and some qualifications. You can also view some of CashCall’s rates online.
2. Get prequalified
You can apply for prequalification with CashCall online. This will give you an idea of the size of mortgage you’ll likely qualify for and the accompanying rates.
3. Submit a loan application
Once you find a home you like and make an offer, you can apply for a mortgage with CashCall. You can start the process online by clicking “apply now” on the website or via phone at 866-708-5626.
Documents you’ll need for prequalification or preapproval
- Identification
- Tax documents
- Bank statement
- Pay stubs
- Debt and asset statements
- Gift letters (if you’re using gifted funds)
Find out more about how to apply for a home loan.Is it safe to get prequalified with CashCall?
Yes, it’s safe to get prequalified with CashCall, and it won’t affect your credit score. The next step when you’re ready to buy a home — preapproval — will impact your credit score, as it requires a hard credit pull. But the impact will likely be minimal, especially if you have good credit.
CashCall’s customer service experience
If you’re interested in getting a mortgage from CashCall, you can start the process online by clicking one of the “apply now” buttons and providing some basic information. Live agents are available via chat, and you can also email CashCall. If you prefer to start the process by phone you can request a callback online or call CashCall directly 24/7, which may be more convenient for some prospective borrowers than other lenders with more limited hours.
- Phone: 866-708-5626
- Email: [email protected]
How does CashCall compare to other lenders?
|  |  |
|
|---|---|---|---|
| LendingTree’s rating | |||
| Minimum credit score | 500 to 680 | 580 to 620 | 580 to 620 |
| Minimum down payment | 0% to 5% | 0% to 3.5% | 0% to 3% |
| Rate spread 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) the CashCall offered to mortgage customers in 2023. The higher the number, the more expensive the loan. | 3.45% | 0.97% | 0.73% |
| Loan products and programs |
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| Better for: | Those who are self-employed or need alternative means of qualification. | Those looking for a simple, affordable way to secure a mortgage or to refinance online. | Those looking for an online loan, including a home equity loan. |
CashCall vs. Pennymac
CashCall and Pennymac are both online lenders that offer a variety of mortgage products. There are a few key differences between them, however. CashCall offers alternative loans for those who are self-employed or those who need alternative means of qualification, whereas Pennymac doesn’t. For example, CashCall offers bank statement fixed-rate loans and ITIN loans, and Pennymac doesn’t. However, Pennymac offers USDA loans, and CashCall doesn’t.
The minimum credit score is lower at CashCall for some loans. However, CashCall’s rate spread is more than three times that of Pennymac (3.45% versus 0.97%, respectively), making CashCall loans more expensive on average.
→ Read more in our full Pennymac mortgage review.
CashCall vs. Rocket Mortgage
CashCall and Rocket Mortgage are both legitimate online mortgage lenders. Neither offers USDA loans. But Rocket Mortgage offers home equity loans, whereas CashCall only offers HELOCs.
CashCall’s rate spread is significantly higher than Rocket Mortgage’s — 3.45% vs. 0.73%, respectively — making CashCall loans more expensive on average.
→ Read more in our full Rocket Mortgage review.
Ready to compare CashCall offers on LendingTree? Get Your Rates TodayHow LendingTree 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’s representative.
CashCall’s scorecard:
Publishes rates online
Offers standard mortgage products
Includes detailed product info online
Shares resources about mortgage lending
Provides an online application
= 0 points = 0.5 points = 1 point
Frequently asked questions
CashCall allows you to view rates for some of its mortgage loans and apply for them online. If you have questions, CashCall provides access to agents via online chat.
Yes, CashCall is a legitimate lender, though the company isn’t accredited by the Better Business Bureau (BBB). The BBB website highlights a 2022 Arizona court case in which CashCall “allegedly misrepresented the inapplicability of Arizona law in order to charge usurious interest rates to Arizona Consumers.” CashCall was ordered to pay $4.8 million in restitution to Arizona consumers.
You can view more info about CashCall’s state licenses and registrations through the Nationwide Multistate Licensing System and Registry (NMLS) website.
Any home loan will affect your credit score, but usually by less than 20 points on average. Also, most people see their score rebound back to the pre-mortgage score after a year.
Even though it isn’t accredited by the BBB, CashCall has 4 stars on Trustpilot, earning it an “great” rating. Out of more than 2,500 customer reviews, 81% gave CashCall a five-star review.
The majority of customers who left positive reviews cited the simple application process and excellent customer service. Some, however, noted frustration with a lack of follow up, delays and errors in the process.
The Consumer Financial Protection Bureau (CFPB) sued CashCall in 2013 for collecting money from customers to pay loans that violated state laws instituting interest rate caps and licensing requirements. The case has been transferred and appealed multiple times since. Most recently, in February 2023, CashCall was ordered to pay more than $33 million in civil fines and more than $134 million in restitution to harmed consumers. In March of that year, CashCall appealed the decision, and the case is currently pending on appeal.
There are 23 complaints against CashCall in the CFPB consumer complaint database filed in the past three years. They include those filed by consumers who report being charged unexpected interest or fees as well as those describing issues with credit reporting, customer service and debt collection for debt that was not owed.