Taking out a home loan is a long-term commitment. The life of your loan can last decades, and it is important to do your homework — such as by comparing mortgage rates — before deciding on a lender who will offer you the best rates and terms of service. If you are preparing to purchase a new home or commercial building, there are ten mortgage lenders worth taking a look at.
1. Quicken Loans
This reputable company values the education of each client, and Quicken Loans has innovated their website to allow their customers quick and simple access to their rates and terms. Furthermore, clients are able to review individual websites to follow the loan status at every step of the process. While there have been negative reviews, each was followed up on by a representative to arrive at a mutually compatible solution.
2. Lending Tree
Shopping around allows you to make the best decision and gives you the power of negotiation. When you work with Lending Tree, you receive multiple offers from competing lenders. While the exponential exposure to various lenders can cause some clients to become overwhelmed, they have proven efficient in assisting with locating the best options.
3. Bank of America
Bank of America has an effective and time-tested lending process in place, and clients are provided with convenient tools such as online rates, calculators, and repayment estimates. They also have an extensive network, making face-to-face meetings easy. While some customers find it inconvenient that they are not available for weekend service, they have proven overall to be a great source of mortgages and refinancing.
4. Wells Fargo Home Mortgage
When customer service counts, Wells Fargo Home Mortgage delivers. They have been in business since the 1850’s, and they have used that time to innovate with modern technology. Their online tools can help even the least educated in mortgage rates to determine whether they should refinance or apply for a new loan. Although they do not offer hybrid mortgages, they have competitive rates to keep costs low.
5. Chase Mortgage
Whether you are looking for a fixed, adjustable, or interest-only mortgage, Chase Mortgage has the options you are looking for. Those with poor credit will be pleased to take advantage of their alternative options. Although they don’t have an online chat option, it is easy to contact a representative on the phone.
6. US Bank
US Bank prides itself on customer education, and they offer online options to guide potential clients through the various types of mortgages and refinancing. Some complain that the details of fees are not always obvious, but their online chat option can help clear up confusion quickly.
When you apply with Refinance.com, your credit score is automatically pulled from Experian. This allows them to provide you tips to improve your application from the beginning. Support is confined to phone and email, but consumers have access to a large network of lenders.
If you are having trouble making your current mortgage payment, CitiMortgage has various refinancing solutions. First time home buyers and military personnel are walked through their options including FHA & VA Loans. Online chat is not currently available, but representatives are quick to respond to phone and email inquiries.
9. BD Nationwide Mortgage
Clients with bad credit can turn to the service offered by BD Nationwide Mortgage. They take time to explain options including:
- FHA Refinancing
- 125 Home Equity Loan
- Refinance Second Mortgage
- Home Equity Line of Credit
- Jumbo Loan Refinancing
Online chat is not available, so questions and concerns must be expressed via phone or email.
10. Home Mortgages
For a quick and simple preapproval process, Home Mortgages can help you determine what you can afford. Although their only communication channel is through email, they specialize in refinancing and mortgages and are able to offer the tools you need to find a house you can afford.