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Box Home Loans

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4 | ★ ★ ★ ★

About Box Home Loans

Box Home Loans Synopsis 

Review Summary: Box Home Loans serves borrowers who fit “inside the box,” in other words home shoppers who have good credit and don’t need special programs to qualify for a mortgage.  

Recommended for: Box is a great choice for borrowers who have great credit and are looking to save some money on their mortgage.  

Pros and Cons of Box Home Loans 

ProsCons 
– No origination fees, underwriter fees, or wire fees 
– Low closing costs 
– Rate tracker with email notifications 
– New home purchase calculator 
– Refinance calculator 
– No programs for those with low credit 
– Not available nationwide 

Box Home Loans Reviews 

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Zillow 4.48/5 Stars with 188 Reviews 

Box Home Loans Review 

Overview 

Box Home Loans caters to borrowers who have good credit and are “financially responsible customers.” In other words, it lends “exclusively to those who fit ‘Inside the Box,’” Box explains.   

It says that by operating this way, it can offer better rates and reduced fees. 

In addition, borrowers also enjoy 50% less paperwork and a more streamlined loan process, which translates into savings for its customers. For example, Box says that it’s been able to cut closing costs by more than 65% as a result of the way it operates.   

Box is currently only available in 43 states. Before moving forward with Box, check to make sure that it is licensed in your state. You can find a full list here.  

Box Mortgage Loan Options 

Box offers the following home loan options:  

  • Conventional 30-year to 10-year purchase loans 
  • Fixed-rate mortgages 
  • Adjustable-rate mortgages 
  • Refinance loans 
  • FHA loan 
  • VA loan 

Box Mortgage Application Process  

Box Home Loans uses an online application system that is available 24/7. It also allows borrowers to track the progress of their loans in real time.  

It also has a pre-qualification process.   

Box Home Loans Rates and Fees 

Box Home Loans says that its loans cost less than traditional lenders because they don’t charge fees such as origination fees, underwriter fees, wire fees, or other fees it refers to as “junk fees.”  

The average origination fee for home loans in 2021 was almost $1,000 between Bank of America, Chase, Citibank, and Wells Fargo, according to ValuePenguin.  

Its processing fee is only $250. While processing fees can vary by state, they can cost as much as $450.  

Box also claims that its reliance on technology allows the mortgage company to “charge less and give you better rates.” 

Borrowers can obtain the latest rates through its rate tracker here. If you sign up for the rate tracker, Box will email you when the rates change.  

Box Home Loans Company Information 

Box Home Loans is owned by Canopy Mortgage, LLC, located in Lindon, Utah.  

Box was established by Jeff Reeves and Aaron Brown in 2006. Reeves and Brown both got started in the mortgage industry as loan officers in the late 90s.  

They say they started Box with the idea that with “the right technology” they could “make the loan process faster, less expensive, more predictable, and somewhat paradoxically, more human.” 

States Where Box is Licensed 

Box is currently only available in 43 states. Before moving forward with Box, check to make sure that it is licensed in your state. You can find a full list here. 

Box Home Loans Contact Information 

Reviews updated on 12/1/22.

Address: 360 Technology Court Suite 200 Lindon, UT 84042

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