The Best 24 Mortgage Lenders in the US
While some are fortunate enough to buy their first (or second) home in cold cash, most Americans fulfill their dream of homeownership through the help of mortgage lenders. And because there are plenty of lenders to choose from, it can be challenging to find the right loan provider.
Why You Need to Consider Multiple Mortgage Lenders and Compare Rates
Nearly 47% of borrowers consider only one lender for their mortgage, according to the Consumer Financial Protection Bureau. While deciding on one mortgage lender right away appears convenient, borrowers may be spending more when they settle for the first lender they find. In fact, according to the same report, comparing at least three lenders can lead to significant savings. For a 30-year mortgage, for instance, you can save as much as $3,500 on the first five years of your mortgage if you find a lender offering an interest rate which is lower by 0.5%.
To help you get started on the mortgage shopping process, here’s a list of some of the biggest mortgage providers in the US. We also included a brief description of each lender, the products they offer and their official website where you can learn more about the services they provide.
1. Freedom Mortgage
Freedom Mortgage is of the top 10 mortgage lenders in the US and is licensed in all 50 states and in the Virgin Islands, District of Columbia, and Puerto Rico. This company is also one of the largest Veterans Affairs loan lenders in America.
Mortgage Loan Offers:
- Conventional or jumbo loans
- VA loans
- USDA loans
- FHA loans
Learn more about Freedom Mortgage here.
2. Bank of America
Bank of America is a multinational financial services company and investment bank, operating in more than 35 countries all over the world. It is headquartered in North Carolina, but it maintains central hubs in New York City, Hong Kong, London, Toronto, and Minneapolis. As of March 2019, Bank of America is the second-largest bank in the US in terms of assets.
Mortgage Loan Offers:
- Jumbo loans
- Fixed-rate mortgages
- Adjustable-rate mortgages
- FHA loans
- VA loans
- Affordable loan solution mortgage
Learn more about Bank of America here.
3. BB&T Mortgage
Branch Banking & Trust Company, better known as BB&T, is a bank holding company based in North Carolina. It operates in 15 states and in Washington, D.C. While it’s the 11th largest bank in the US in terms of assets as of March 2019, it is one of the largest insurance corporations in the world. As a result of its recent merger with SunTrust, BB&T is now Truist.
Mortgage Loan Offers:
- Fixed-rate mortgage
- Adjustable-rate mortgages
- Construction-to-permanent loan
- Low down payment loan
- Home equity loans
- VA loans
4. Carrington Mortgage
Founded in 2007, Carrington Mortgage Services is a company which provides mortgage lending services to individuals looking to buy a home or refinance their mortgage. It operates in 20 locations all over the US, including Arizona, California, Connecticut, Florida, Indiana, and Maryland.
Mortgage Loan Offers:
- Conventional fixed rate loans with a 5% down payment option
- FHA loans
- USDA loans
- VA loans
- First-time buyers loan
- Carrington flexible advantage loan for borrowers with less than ideal credit scores
- Adjustable-rate mortgages
- Jumbo loans
Learn more about Carrington Mortgage Services here.
5. Chase Mortgage
JPMorgan Chase is a multinational bank headquartered in New York City. It is the largest bank in the US as of 2019. Chase offers home buyer grants of up to $2,500 for borrowers purchasing a home in low to moderate-income areas.
Mortgage Loan Offers:
- Fixed-rate loans
- ARMs
- Jumbo loans
- FHA loans
- VA loans
- Standard Agency loan with a 3% down payment option without private mortgage insurance for individuals with credit score of at least 640
- DreaMaker mortgage with a 3% down payment option, borrowers who complete the homebuyer education course receive $500 from Chase.
Learn more about Chase Mortgage here.
6. Guild Mortgage
Serving consumers for more than 56 years and with 250 branches and satellite offices in 25 states, Guild Mortgage is one of the leading lenders in the United States. This lender specializes in financing residential home loans. Borrowers can also take advantage of its Lock & Shop program which allows them to lock the rate for 90 days while they shop for a home.
Mortgage Loan Offers:
- 3-2-1 Home loan with a 3% down payment option for first time home buyers
- FHA loans
- USDA loans
- VA loans
- Renovation loans
- Jumbo loans
- Expanded Non-Qualified Mortgage loans
- Fixed rate loans
- Adjustable-rate mortgages
- Reverse mortgage
Learn more about Guild Mortgage here.
7. Gateway Mortgage
Gateway Mortgage is the home financing division of Gateway First Bank. Founded in 2000 and licensed in 40 states, Gateway Mortgage is one of the largest, private mortgage lending companies in the US.
Mortgage Loan Offers:
- Conventional loans
- FHA loans
- VA loans
- USDA loans
- Adjustable-rate mortgages
- Fannie Mae’s HomeReady
- Freddie Mac Home Possible and Home Possible Advantage
- Bonds and Down Payment Assistance Programs
- Condo Loans
- Manufactured Home Loan
Learn more about Gateway Mortgage here.
8. Ditech Mortgage
Now called Ditech Financial LLC, Ditech Mortgage is a home loan, refinancing and loan servicing provider. Its main office is in Tempe, Arizona.
Mortgage Loan Offers:
- Fixed-rate loans
- Adjustable-rate mortgages
- FHA loans
- VA loans
Learn more about Ditech Mortgage here.
9. Flagstar Mortgage
Flagstar mortgage is one of the services offered by Flagstar Bank, the largest bank headquartered in Michigan. The Flagstar Bank is also considered as one of the largest residential mortgage providers in the United States.
Mortgage Loan Offers:
- Fixed-rate loan terms
- Adjustable-rate loan terms for loans up to $484,350
- Jumbo adjustable-rate loan terms for loans over $484,351
- First-time homebuyer home loan programs
Learn more about Flagstar Mortgage here.
10. Franklin American Mortgage
Now operating as a division of the Citizens Bank, Franklin American Mortgage Company specializes in offering conventional home loans to borrowers all over the US while maintaining a significance presence in Texas and Tennessee.
Mortgage Loan Offers:
- Fixed-rate loans
- Adjustable-rate mortgages
Learn more about Franklin American Mortgage here.
11. Fairway Mortgage
Wisconsin-based Fairway Independent Mortgage Corporation is a financing company founded in 1996. One of the best things about Fairway Mortgage is that it offers a wide variety of loans to consumers nationwide. Borrowers can also apply for a loan or talk to a loan officer through the company’s mobile app FairwayNow.
Mortgage Loan Offers:
- Fixed-rate loans
- Adjustable-rate mortgages
- Conventional mortgages
- Jumbo mortgages up to 90% LTV
- Doctor Loan Program up to 95% LTV
- FHA loans
- VA loans
- Reverse mortgages
- Home renovation loans
- Residential construction loans
- Residential lot loans
- USDA loans
- Refinance programs
- Investment property mortgages
- Debt consolidation mortgages
Learn more about Fairway Mortgage here.
12. Midland Mortgage
Midland Mortgage is a division of MidFirst Bank, which is based in Oklahoma City. This company serves consumers in South Carolina, North Carolina, Georgia, Virginia, Alabama, Louisiana, Illinois, Ohio, and Maryland. Most of Midland’s mortgage programs target borrowers interested in residential mortgages.
Mortgage Loan Offers:
- Purchase money loans
- Construction loans
- Loans after bankruptcy
- FHA loans
- Fixed-rate loans
- VA loans
- USDA loans
- Adjustable-rate mortgages
- Jumbo loans
Learn more about Midland Mortgage here.
13. Movement Mortgage
Movement Mortgage began its operations amid the 2008 housing crisis. This company operates in 47 states and has more than 650 branches all over the United States. Movement Mortgage focuses on reducing the number of days to close mortgage loans to 15 to 18 days instead of the average closing period of 45 days.
Mortgage Loan Offers:
- Expanded access home loan for short sales, foreclosures or deeds-in-lieu of foreclosure
- Dream to Own no PMI conventional loan
- Construction-to-Permanent mortgage loans
- Condo loans
- Fannie Mae HomeReady Mortgage Conventional loan
- High balance loan for borrowers purchasing properties in high-cost areas
- Reverse mortgage
- FHA loans
- Jumbo loans
- USDA loans
- VA loans
- Renovation loans
Learn more about Movement Mortgage here.
14. Nationstar Mortgage
Now “Mr. Cooper Mortgage”, Dallas-based lender Nationstar Mortgage is among the largest home loan providers in the US. Mr. Cooper Mortgage company aims to become the friendliest, most trusted advocate for clients needing their service.
Mr. Cooper Mortgage is big on educating borrowers about different mortgage products. The company’s app which is available on Google Play and on the App Store also allows users to monitor their FICO credit score, search for properties, monitor their mortgage, and so much more.
Mortgage Loan Offers:
- Fixed and adjustable loans with a 5% down payment option
- FHA loans
- FHA Streamline refinancing loan
- VA loans
- VA Interest Rate Reduction Refinance Loan
- Jumbo loans
Learn more about Nationstar Mortgage here.
15. PHH Mortgage
PHH mortgage has been offering home loans for more than 30 years. This company caters to borrowers all over the country and you can start applying for a loan over the phone or online. While PHH Mortgage offers competitive interest rates for loan products, the company does not offer home equity loans or lines of credit.
Mortgage Loan Offers:
- FHA loan
- VA loan
- Refinance loans
- First time home buyer loans
- Fixed rate mortgages
- Adjustable-rate mortgages
- Loans for vacation homes
- Loans for investment properties
Learn more about PHH Mortgage here.
16. PNC Mortgage
Headquartered in Pittsburgh, PNC Mortgage is a division of PNC Bank. PNC Bank is a well-established retail bank with a history of almost 200 years.
PNC Mortgage offers both traditional mortgage products and unconventional loans like rental payment loans. While the company operates nationwide, you can only find PNC branches in 12 states.
Mortgage Loan Offers:
- Fixed-rate mortgage with a 3% down payment for single-family loans up to $484,350
- Adjustable-rate mortgages
- Jumbo loans with fixed-rate, adjustable rate, or interest-only options
- FHA loans
- VA loans
Learn more about PNC Mortgage here.
17. Rocket Mortgage
Rocket Mortgage is a fully-online mortgage product launched by Quicken Loans in 2015. In 2015 alone, Quicken Loans, offered over 500,000 mortgages. Considered as the largest online mortgage lenders by volume, according to Forbes in a 2018 report, Rocket Mortgage is an online-only service that caters to the self-service population who prefer to apply for a home loan without talking to a loan representative. Borrowers can receive their loan approval in just a few minutes after filing their loan application through the Rocket Mortgage website or the Rocket Mortgage app.
Mortgage Loan Offers:
- Fixed-rate loans
- Adjustable-rate mortgages
- FHA loans
- VA loans
- Jumbo loans of up to $3M
- Refinance – conventional refinance; HARP program
- YOURgage customized loans with a 4% down payment option and home refinancing of up to 97% of home value
- 1% down payment option for single-unit primary residence purchases
Learn more about Rocket Mortgage here.
18. Roundpoint Mortgage
Based in Charlotte, North Carolina, Roundpoint Mortgage Servicing Corporation is licensed to offer mortgages in 50 states, plus the District of Columbia and the US Virgin Islands. This company also offers Fannie Mae and Freddie Mac loans.
Mortgage Loan Offers:
- Fixed-rate loans
- ARMs
- VA loans
- USDA loans
- FHA loans
Learn more about Roundpoint Mortgage here.
19. Regions Mortgage
The Regions Mortgage company offers various loan products to borrowers across 15 states. Besides the mortgage products, Regions Mortgage also offers refinancing, home equity loans and lines of credit. The only drawback to this company is that it operates in a limited number of states.
Mortgage Loan Offers:
- Conventional loans
- ARMs
- FHA loans
- VA loans
- USDA loans
- Jumbo loans
- Home equity loans
Learn more about Regions Mortgage here.
20. SunTrust Mortgage
SunTrust Mortgage is a division of SunTrust Bank which offers affordable and flexible mortgage loan options. This mortgage lender requires borrowers to have a credit score of at least 620. Qualified borrowers may also be eligible for the company’s 3% down payment program.
Mortgage Loan Offers:
- Home purchase loans
- Refinancing
- Home equity loans
- Jumbo loans
- Fixed-rate loans
- ARMs
- FHA loans
- VA loans
- USDA loans
Learn more about SunTrust Mortgage here.
21. United Wholesale Mortgage
Established in 1986, United Wholesale Mortgage’s main focus is on offering residential loans to consumers in selected states in the country. This company offers competitive loans and works only with approved mortgage brokers.
Mortgage Loan Offers:
- FHA loans
- VA loans
- Jumbo loans
- Conventional loans
- USDA loans
- Non-agency loans
- Refinancing
Learn more about United Wholesale Mortgage here.
22. US Bank Home Mortgage
Established in 1863, the US Bank is one of the oldest nationally chartered banks in the United States. One of its products, the US Bank Home Mortgage seeks to help borrowers finance their dream home. While the bank operates in all 50 states, not consumers will have access to a loan officer from the company given the US Bank Home Mortgage’s limited number of branches in the US.
Mortgage Loan Offers:
- Fixed-rate loans
- ARMs
- FHA loans
- VA loans
- Construction loans
- Investment property loans
- Refinance
Learn more about US Bank Home Mortgage here.
23. Vanderbilt Mortgage
Vanderbilt Mortgage is a subsidiary of Clayton Homes, one of the largest modular and manufactured home builders in the US.
Mortgage Loan Offers:
- FHA loans
- Conventional loans
- Biweekly advantage mortgage
- Land home mortgage
Learn more about Vanderbilt Mortgage here.
24. Wells Fargo Mortgage
Wells Fargo is one of the biggest banks in the United States. It also provides a wide array of mortgage products to consumers, including 3% low down payment loans and mortgages for individuals with lower credit scores.
Mortgage Loan Offers:
- Fixed-rate loans
- Adjustable-rate mortgages
- FHA loans
- USDA loans
- VA loans
- Jumbo loans
- Home purchase loans
- Refinancing
Learn more about Wells Fargo mortgage here.
Which Mortgage Lenders are Right for You?
If you’re looking for mortgage lenders in the US, choosing a lender can be confusing, especially if the interest rates they offer are almost the same. However, interest rates should not be your only consideration when choosing your mortgage lender.
To find the best mortgage lender, you must:
- Do your homework. Consider at least three lenders when shopping for a mortgage loan provider. This helps you get the best deals and save more in the long run.
- Consider your credit score. Your credit score plays a significant role in choosing a lender. Most lenders require a score of at least 620. Borrowers usually become eligible for the lowest interest rates if they have higher scores. If your credit score is higher, look for lenders that offer incentives such as lower interest rates and better loan terms to borrowers like you. If your credit score is below 580, you should, likewise, look for a mortgage banker who is willing to finance your home purchase. Although you will have less bargaining power because of your credit score, you will still be eligible for mortgage loans with reasonable interest rates.
- Compare rates. Most mortgage lenders advertise their rates online, but it’s better to get in touch with the lender. A loan officer can provide a more accurate offer of the interest rate applicable to you based on your credit history and income.
- Ask the right questions. When talking to mortgage lenders, don’t hold back. Consider asking the following questions:
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- What type of loan is right for me?
- How much down payment should I make?
- What types of fees do you charge? How much will it cost?
- Is there a prepayment advance payment penalty?
When Getting a Mortgage and Choosing Mortgage Lenders
While you have plenty of options regarding the best lenders in America, choosing a loan provider ultimately depends on your needs and a few personal factors. So, make sure to boost your credit score, keep your debt-to-income ratio low and save up for your down payment to get the best mortgage deals, regardless of which lender you choose.
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