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Blue Spot Home Loans

Blue Spot Home Loans Pros and Cons

Blue Spot Home Loans

On Google, the company enjoys a 4.7-star rating out of 5 from just over 200 customer reviews. They’ve got an even better 4.9-star rating on Bankrate from about 150 reviews, with 97% saying they would recommend this lender.

They’re actually the online lender division of their larger parent company Cherry Creek Mortgage and have a pretty nifty website to start with. Think of them as a simpler, simpler digital lender for those looking to quickly refinance a mortgage from a remote location. Other than their head office in Greenwood Village, Colorado, they don’t have a physical branch that you can visit.

This should be fine with most people these days, as it is now quite common to work with a mortgage lender online whether or not there is a pandemic. One cool feature of Blue Spot home loans is the fact that their loan officers are salaried rather than mandated, which means they shouldn’t pressure or bother you to get a mortgage.

Mortgage Loan Officer Salary

According to their website, they’re currently made redundant in 20 states (but it could be more now) and appear to be most active in California, Colorado, and Texas.


  • The mortgage lender in Greenwood Village, Colorado
  • Located in: Harlequin Plaza
  • Address: 7600 E Orchard Rd #250-N, Greenwood Village, CO 80111
  • Hours: Open 10 AM ⋅ Closes 5 PM
  • Phone: (800) 976-5608

Mortgage rate: definition

Simply defined, the mortgage rate is the interest you will pay on the loan. There are a number of things that go into what the interest rate will be and these things include (but not limited to) the yield on the 10-year Treasury note, the Federal Reserve, and your score. FICO.

When you make your monthly payment, one part will be used to pay off the loan balance and another part will be used to pay the interest owed on the loan.

Factors to consider when choosing a lender

Interest rates can vary from lender to lender, but interest rates aren’t the only thing you’ll want to consider. You’ll want to research the reputation of the lender, if they have the ability to help you make the loan process run smoothly, and if there are other hidden costs and fees that they don’t tell you up front.

Interest rate and annual percentage rate are not the same

The interest rate is the rate of the loan – it does not take into account closing costs. The APR, on the other hand, includes the interest rate, closing costs, and/or closing credits. The APR will give you a more apples-to-apples comparison between different types of loans if all the costs stay the same.

Mortgage Loan Originator Salary

Blue Spot Home Loans Pros and Cons

The Pros

  • They publicize their mortgage rates and lender fees
  • They use salary-based mortgage consultants
  • You can apply for a home loan directly from their website
  • Offer a digital mortgage application and borrower loan portal
  • Can fund loans in as little as 14 days
  • Excellent customer reviews
  • A+ BBB rating
  • Company blog with helpful tips and tricks

The Cons

  • Not licensed in all states
  • May not offer USDA loans or renovation loans
  • Do not list lender fees
  • No physical locations
  • May not service your loan

How to Apply with Blue Spot Home Loans

  1. You can call them or email them to get the prices and apply
  2. Or just visit their website and start the application process there
  3. Their loan officers are salaried employees, so you shouldn’t feel pressured
  4. They offer a digital mortgage application and an online loan portal where you can check your loan status 24/7.

You have a few options to get started with Blue Spot Home Loans. You can call or email them to contact them immediately, or go to their website.

If you visit their website, you can view the daily mortgage rates by clicking on “daily rate”, or fill out a short form and wait for a loan officer to call you back.

They also give you the option to apply immediately through the website. You need to register first, then you can access the online loan portal from any device, such as a desktop, tablet or smartphone.

Their digital mortgage application allows you to link financial accounts, scan and upload necessary documents and electronic signature disclosures. If you’re a potential buyer, they say you can be pre-qualified for a home loan in under 10 minutes.

Once your loan is submitted, you can check the loan status and get a to-do list if any additional conditions need to be met before closing documents are prepared.

Blue Spot Home Loans says it can close loans quickly, in as little as 14 days if no events beyond their control (house seller, appraisal, or property/escrow issues) occur.

What Is an Islamic Mortgage

Blue Spot Home Loans Mortgage Rates

The first thing you’ll want to do if you’re planning to buy a home is compare mortgage interest rates. If you are a first-time home buyer and have questions about what a mortgage rate is and / or how it can impact your purchase, call Blue Spot Home Loans today and we’ll be there. than happy to answer your questions.

The team of experts is committed to making the mortgage application process as easy as possible, from start to finish.

Blue Spot Home Loans Mortgage Rates
Blue Spot Home Loans Mortgage Rates

One of the benefits of using Blue Spot home loans is the fact that they openly advertise their mortgage rates and lender fees on their website. So instead of having to call a loan officer or provide your valuable contact information, you can just browse their website and generate your own free mortgage rate quotes on the fly.

They have a nifty mortgage rate table that lets you plug in various loan scenarios to compare different loan programs and closing costs at a time. You can switch between the buy rate and refinance rates, and see both 30-year fixed rates and 15-year fixed rates.

Assuming you are happy with what you see, just click “next”. At this point, you will be asked to enter your details in order to be put in touch with a mortgage loan officer. From what I saw, their mortgage rates seemed quite competitive compared to other online mortgage lenders.

They say if you find a better rate, to give them a chance to beat the quote from the other lender. While you can see the total rates and closing costs on their website, it is difficult to know what lender fees they charge because they are not listed individually.

We, therefore, do not know if they charge loan origination fees, application fees, etc. Make sure you get these details when talking to a loan officer about a mortgage rate quote.

Cornerstone mortgage reviews


Today we were going to check out “Blue Spot Home Loans” which takes its name from a combination of Blue the Cat and Spot the Dog. Blue Spot Home Loans is a direct-to-consumer mortgage lender located near Denver, Colo. That offers home purchase loans and mortgage refinance loans.

Blue is apparently always on the lookout for tips and tricks to help you better understand how a mortgage works, while Spot is eager to find you a good mortgage rate and the perfect loan program. Let’s learn more about this Denver-area mortgage lender who claims to be proud of its “very competitive rates.”

Loan programs offered by Blue Spot Home Loans

  1. Home purchase loans
  2. Refinance loans: rate and term, cash and rationalize
  3. Conventional loans guaranteed by Fannie Mae and Freddie Mac
  4. Giant home loans that exceed the compliant loan limit
  5. FHA loans
  6. VA loans

Call Blue Spot Home Loans today

Regardless of whether your buying your first, third, or tenth property, Blue Spot Home Loans is here to help. Call (800.976.5608) today, Linkedin Page, Facebook Page, or contact us to learn more about our competitive low mortgage rates.

Blue Spot Home Loans Pros and Cons
Blue Spot Home Loans Pros and Cons

General Disclosures

  1. The sample payment listed does not include insurance, taxes, or assessments.  Private Mortgage Insurance (PMI) is required for all conventional loans in which the LTV is greater than 80%. Mortgage Insurance Premium (MIP) is mandatory for all FHA loans.
  2. Listed mortgage rates are based on a 40-day rate-lock period.
  3. The listed annual percentage rate (APR) is the cost to borrow, expressed as a yearly percentage.  For mortgage loans (this excludes home equity loans) the APR includes the interest rate plus other fees or charges, which may include things like origination fees, discount points, and mortgage insurance. For home equity lines of credit, the APR is only a reflection of the interest rate. The APR can help you compare the cost of mortgages between lenders.
  4. The listed estimated closing costs should not be used in place of a loan estimate.  A loan estimate, which you will not receive until you apply for a loan, will include your estimated closing costs. The amounts listed above should only be used as estimations based on the state selected. This is not a commitment to lend or a mortgage loan approval. The actual costs, fees, and monthly payment on your specific loan may vary and may also be subject to city fees and/or county fees along with additional other costs and fees not currently specified.
  5. The listed mortgage rates are based on a number of assumptions including but not limited to the credit score of the borrower. Actual rates could be higher or lower based on your credit score and other factors.

The rates below are current as of today available through Blue Star Home Loan’s online division. Remember: mortgage rates can vary from state to state and they’re subject to change without notice. Select a product from the below list to view important information about disclosures, payments, and assumptions.

Blue Spot Home Loans

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