Ranking the best mortgage lenders is a great way for homebuyers to get the best deal possible. Check them out below, along with some links for the best mortgage rates in your area.
Once you've set the stage for buying a new home, get set to start ranking the best mortgage lenders. These lenders should be at the top of your list.
One of the emerging online mortgage lending firms, Quicken Loans offers a full menu of mortgage lending products and services for digital customers. Besides being the largest Federal Housing Administration (FHA) mortgage lender in the U.S., Quicken offers mortgage loans for as low as 1% down for the new home purchase. In addition, Rocket Mortgage, a branch of Quicken Loans, can help you complete your entire mortgage loan application process in minutes.
While not a direct mortgage lender, Lending Tree will connect you with multiple lenders, enabling you to choose the best deal. Additionally, if you're looking to close a mortgage fast, Lending Tree is a good option, as they can close a mortgage within 30 days. If you want access to multiple lenders and want to act quickly and get multiple loan offers at once, check out Lending Tree.
This financial services giant offers a stacked menu of home mortgage options, including 15- and 30-year conventional mortgage loans, veterans' loans, new construction loans, and FHA loans. Customer service-wise, US Bank offers mortgage applicants a unique "loan officer near you" service that can provide advice on home mortgage and purchase issues on a local level. The bank serves mortgage customers in all 50 states. It also appears more lenient on credit issues than most traditional lenders, adhering to an "alternative credit score" model that takes into account an applicant's good record in paying utility or cable bills - things that don't normally show up on a credit report, but that indicate the applicant pays his or her bills.
With a full menu of fixed-rate, adjustable-rate and jumbo loans and access to FHA, VA and USDA products, SunTrust also deserves a spot on the "best mortgage lender" list. SunTrust will work with mortgage applicants who want to make a low- down payment and, like US Bank, will turn to non-traditional credit history records to give applicants a fair shot at a home mortgage loan.
Mortgage lending fees (especially loan closing fees) can chew up thousands of dollars before you get the chance to sign on the bottom line for your dream home. Lenda counters that obligation by managing your entire mortgage loan experience online as a direct lender. That curbs the need for paperwork, slashes the average mortgage loan timetable to within two weeks, and can significantly reduce mortgage loan fees. A downside to Lenda: It's not available in many states so check the company's website first, to see if you qualify for a mortgage loan with Lenda.