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Blue Sky Financial Mortgage Rates Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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Founded in 2020, the Idaho-based Blue Sky Financial is an online mortgage brokerage focused on delivering a streamlined and efficient mortgage experience to its customers. The company strives to use high-end technology and a dedicated customer service team to make the whole mortgage process easier and quicker for consumers while at the same time offering the lowest possible rates.
 
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How Do We Rate Blue Sky Financial?

Breakdown

4.5/5
Lender Types
4.6/5
Available Mortgage Types
4.5/5
Customer Experience
4.5/5
Reputation & Transparency

Our Overall Rating: 4.5 / 5 (Excellent)

Blue Sky Financial is an online mortgage broker that provides consumers with both purchase and refinance mortgage products. Since it's not a lender, it looks for the best rates and offers on the market and presents them to the customer so that they may choose what best works for them.

According to the company’s website, Blue Sky is currently licensed as a broker or lender in the following states: California, Colorado, Florida, Idaho, Illinois, Maryland, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, and Washington.

Blue Sky Financial Loan Specifics

Available Mortgage Types - 4.6 / 5

Among the mortgage products available are conventional, FHA, and VA loans. These come in various terms including 10, 15, 20, 25, and 30-year fixed mortgages. In addition to purchase loans, Blue Sky Financial also offers conventional refinance and cash-out refinance.

Customers can get pre-qualified by completing a short online form and have a loan officer contact them directly.

Types of Mortgage Loans Offered

  • Fixed-rate mortgage
  • FHA loan
  • VA loan

Blue Sky Financial Customer Experience

Customer Experience - 4.5 / 5

Customers who wish to check current rates can provide basic information such as loan amount, appraised value of the home, FICO score, zip code, property type and use to view the current mortgage rates and offers available.

After selecting a product from the list provided, customers can complete their personal information so that a loan officer can contact them to discuss available options and become pre-qualified.

If customers wish to apply for a loan, they can create an online account and start filling out the application form. Even though it requires comprehensive information it can be completed in just ten minutes or it can be saved and completed at any time. Customers are able to submit financial documents and receive mortgage disclosures all from the same platform.

One feature that Blue Sky Financial advertises is its Home Buyers Concierge Service. This free service assigns a specialist to your home buying process, making sure you’re getting the lowest rates, connecting you to professional real estate agents, and ensuring that everything about the lending process is going smoothly.

Online Features

Online Application
Yes
Online Quote
Yes
Additional Tools and Resources
Help Articles
Check Today's Rates
SSN Required for Quote
No

Blue Sky Financial Qualification Requirements

Qualification Requirements - 4.8 / 5

The company’s website does not provide specific requirements for borrowers. There is no minimum FICO score mentioned, though the online form has a default 720 score filled out and many lenders typically recommend a minimum score of 620.

Other factors such as debt-to-ratio and loan maximums or minimums are not detailed. It is up to the customer to discuss them with their loan officer.

Key Requirements at a Glance

Non-Traditional Credit History Considered?
No

Blue Sky Financial Lender Reputation

Reputation & Transparency - 4.5 / 5

As a relatively new mortgage broker, Blue Sky Financial does not have many online reviews. It does carry an A rating on the BBB though it’s not an accredited business and it currently does not have a profile on Trustpilot. At the same time, it does not have any complaints or regulatory actions with the Nationwide Multistate Licensing System (NMLS) or the Consumer Financial Protection Bureau (CFPB).

Key Facts

Lender Type
Marketplace
Year Founded
2020
BBB Rating
A
Trustpilot Rating
0.0 out of 5
Collection Date
2022-01-12

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
1954591
The Nationwide Mortgage Regulatory Actions
0
Consumer Financial Protection Bureau Complaints
0

Company Profile

Full Name
Blue Sky Financial Mortgage Rates
Company Website
https://blueskyfinancial.com/
Headquarters
877 West Main Street, Suite 600, Boise, ID, 83702

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