If you’re looking for the best mortgage lenders in the US of 2018, you’re at the correct place right now. As you know that buying a home is one of the most costly purchases you’re bound to make in your life. As a result, this is necessary to get the right mortgage while going to sign on the dotted line. There are some differences in interest rates and/ or other terms can link to tens of thousands of dollars either spent or saved. Although with so many choices available on the market, it’s hard to find where to start from. You’ll find the traditional lenders, local one’s online lenders, and large multinational lenders as well.
Moreover, many lenders specialize in different types of loans. But, the best way to start is to browse some of the top lenders so that you can find a few that match your needs. We’ve pulled together the best mortgage lenders of 2018 to help you start honing in on your options.
How to Choose the Best Mortgage Lenders?
The best thing that you can do it as the part of choosing the best mortgage lenders is to compare offers from multiple lenders. Every one has flexibility in how they apply them while lending standards a mortgage company must follow. You’ll be surprised when you’ll see a lot of variation in the different offers. Also, your loans can be structured in different ways to accommodate your financial situation or personal preferences. You may be able to pay a higher interest rate to avoid larger closing costs if you don’t have loads of spare cash around. But, your lender can let you pay extra upfront to qualify for a lower rate when you want to lower your monthly payments.
You Have to Get Some Answers
Besides, it could be supportive to understand where mortgage rates are at the moment and where they’re headed. So, you have to know your credit score along with the type of rate you should qualify for. This way you can negotiate the potential best deal. You can get a feel for their attitude towards lending when interviewing mortgage loan officers. Also, see if it’s in line that’s yours. You have to get the answers to the following questions:
- Are they approaching you to consider more expensive homes than you originally considered, simply because you can qualify for a higher loan total?
- What can they say to you about their closing costs as well as other associated charges?
- What type of down payment do you need and how rapidly can you close once you find a new home?
Compare With Some Separate Mortgage Lenders
As these are your questions, you should ask to as a minimum two or three separate mortgage lenders. Then, you have to compare the answers. So, you can determine which lender can offer you the best financial deal. Also, you can meet any other expectations you have close to the loan process.
The Best Mortgage Lenders of 2018
Well, as you know what to ask the mortgage lenders before choosing the best mortgage lenders so far. Now, it’s time to get the selection process started. You’ll get countless options on hand from online lenders to unit and mortar branches. And also it’s from good credit to bad credit lenders. That’s why here is the full list of the top 7 best mortgage lenders so that you can choose the best one for your next home loan.
1. LendingTree
If you select the LendingTree, it can close mortgage loans in as quickly as 30 days. So, you can start here if you’ve already found the place you want to call home. If you want to evaluate multiple offers because rather than being a direct lender so it’s also good. This is because of the LendingTree partners with numerous lenders who participate in your business. Moreover, you can get equal to five different loan offers within minutes while submitting your request. Also, you can apply online for FHA, conventional, or VA loans. It’s not a matter where you are in the process, but the Lending Tree’s website also provides a ton of thorough resources for homebuyers,
Besides, the offers tips for mistakes to avoid when purchasing a house, qualifying for a mortgage, and a bank of FAQs. So, the LendingTree is the place to go while you’re looking for the home loan guidance and receiving multiple offers at once. These all positive qualities made it top on the list. Visit LendingTree.
2. Lenda
As the Lenda is a direct lender, so it’s easy and quick to apply for a mortgage. You can upload all of your documents directly online rather than requiring tons of paperwork. So, you can consider getting a quote from Lenda when you’re worried about the amount of cash it takes to close. Because they offer low overhead costs, they don’t charge agent fees or commencing fees. But, they still stay competitive with interest rates. Moreover, the average time to closing is just 13 days. So, it’s much faster compared to the rest of the mortgage lenders. Also, there are a lot of options for the length of loan terms.
What about the downside to Lenda? As it’s still a growing company, it may not be available in your state. But, they are now only available in Arizona, Colorado, California, Florida, Illinois, Georgia, Oregon, Michigan, Pennsylvania, Virginia, Texas, and Washington. So, you can check with them to see whether they’ve prolonged to your precise locale before assembling information for a quote application. Visit Lenda.
3. Rocket Mortgage
If you choose applying for a mortgage from the comfort of your Wi-Fi connection Rocket Mortgage is a great pick. Rocket Mortgage’s online application process is very smooth with an approval time of just a few minutes while it coming with a branch of Quicken Loans. If you’re using a secured platform to share your financial information, you can also avoid the irritation of paperwork. Also, you can test out different house prices and down payment amounts to create an ideal monthly payment when you have that you’re expecting the interest rate. Moreover, the closing is easy and takes place at a location of your choice while getting a contract on your new home. Visit Rocket Mortgage.
4. Alliant Credit Union
You can qualify for a down payment as low as 3% of the price of the home because Alliant offers both adjustable rate and fixed mortgages. It’s that equates to just $6,000 needed in cash for your down payment on a $200,000 house. Moreover, you can qualify wherever you’re in the country along with an enjoyable low origination fee of just $995. And it helps to keep your closing costs down. This is why; check out Alliant to see how they stack up to other mortgage lenders if having cash-on-hand is an issue for you when purchasing a home. Visit Alliant Credit Union.
5. Guaranteed Rate
It’s not surprising that Guaranteed Rate originated about $23 billion in mortgages for 2016. It comes with the easy-to-use website allows you to get an idea of your qualifying interest rates. If you input just a few details about your predictable credit along with the type of home you’d like to buy, it’s ready within minutes. Also, you can then surf several loan types so that you can see the options of the interest rate as well as the APR for different loan terms and types. It offers very easy to compare options to get an idea of which kind of mortgage is best for you. So, you can browse their Knowledge Center for tons of thoroughly resources on the process of home buying. Visit Guaranteed Rate.
6. New American Funding
It’s the New American Funding that’s a direct lender and offering conventional, VA, and FHA loans. Furthermore, you can also discover options for a mortgage that comprises a home repair loan. It comes with the less commonly available loan types, such as reverse mortgages, jumbo loans, and interest-only mortgages. You can go step by step through their questionnaire to get more details on potential loan terms you could qualify for when you have an idea of what you’re looking for. Visit New American Funding.
7. First Internet Bank
The First Internet Bank is solely based online. It allows you to complete the entire mortgage application process from your own home. But, you can still call over the phone whenever you’d like to talk to your loan officer. It also comes with a large scale of loans, such as conventional, USDA, FHA, VA, and jumbo loans. Besides, it offers a personalized rate in less than a minute. And even you can sign up for email alerts to track rates as you shop for houses. So, you can get pre-qualified takes just moments so that you can then submit the appropriate documentation to get pre-approved. Visit First Internet Bank.
These were some of the best mortgage lenders in the US of 2018. Besides, there are so many lenders and companies that lend money for your various purposes, such as home loans etc. The other lenders include SunTrust, PennyMac, Capital One, U.S. Bank, CitiMortgage, Caliber Home Loans and many more.
