Blue Spot Mortgage Overview 2023

Blue Spot Mortgage has originated greater than $70 billion in loans since launching in 1987. Immediately, the lender has greater than 75 branches, but it surely has been equally targeted on making inroads into the web mortgage market.
David Arnett, the lender’s chief advertising and marketing officer, says that the corporate launched an internet, direct-to-borrower firm referred to as Blue Spot House Loans three years in the past to attraction to “the kind of tech-savvy buyer who needs a quick mortgage course.” It has delivered on the promise of velocity, too: Blue Spot points same-day preapprovals, and the typical closing time is between 22 and 27 days.

Breakdown of Blue Spot evaluate rating

  • Affordability: 14.75/15
  • Availability: 14/15
  • Borrower expertise: 10/10

Pro and cons


  • Low down cost requirement (as little as 3 p.c down)
  • Big selection of mortgage packages
  • Low-down cost mortgage choices accessible
  • Useful calculators to estimate homeownership prices
  • Usually up to date and revealed charges
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  • Not accessible in 14 states
  • Stricter FHA credit score rating necessities

Good for 

Debtors who need a variety of mortgage packages, straightforward online estimates, and quick closing.


Blue Spot Mortgage has earned an A+ from the Higher Enterprise Bureau, the very best accreditation rating. The lender has acquired high honors on the native degree, too. For instance, its department in The Woodlands, Texas, has been named the most effective mortgage firm by the group yearly for the previous decade.


Refinancing with Blue Spot Mortgage

In the event you’re seeking to refinance your mortgage, Blue Spot Mortgage presents 15-year, 20-year, and 30-year choices. Rates of interest are usually decreasing than the nationwide common as of August 2021, and you will get a fast snapshot of various choices accessible primarily based on your credit score rating, present mortgage steadiness, location, and some different elements.

The prices embody an origination payment, underwriting payment, and a courier payment, though the particular price ticket for every of those is just not publicly listed online. Nevertheless, there are versatile factors and choices to assist if you wish to keep away from paying upfront for a few of these prices. (Whilst you’ll pay much less when the mortgage closes, you can pay extra over the lifetime of the mortgage resulting from a better rate of interest.) You will get a price quote and apply online.

Overview methodology 

To find out a mortgage lender’s SimpleScore, The staff charges lenders on a scale of 1 to 5 stars primarily based on quite a lot of elements referring to the lender’s services and products. The Easy Greenback’s companions compensate us, however, our opinions are personal, and associate relationships don’t affect our critiques. Right here is our full methodology.

Blue Spot Mortgage
Blue Spot Mortgage
Blue Spot Mortgage
Blue Spot Mortgage

Click on right here to learn all Blue Spot Mortgage shopper critiques.

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