8 Best Mortgage Lenders of April 2024


8 Best Mortgage Lenders of April 2024 Money’s Main Takeaways: – A mortgageis one of the biggest financial commitments you’ll ever make.Finding a reputable lender and a loan that fits your needs is essential – It’s important to shop around for a lender and compare loan types, mortgage rates, lender fees and closing times to…

image8 Best Mortgage Lenders of April 2024

Money’s Main Takeaways:

– A

mortgageis one of the biggest financial commitments you’ll ever make.Finding a reputable lender and a loan that fits your needs is essential

– It’s important to shop around for a lender and compare loan types, mortgage rates, lender fees and closing times to find the best option for you

– The best mortgage lenders will have competitive rates, simple pre-qualification, pre-approval and application processes, and a track record of providing excellent customer service

– Our top picks for best mortgage lenders include Rocket Mortgage, LendingTree and Veterans United

Why Trust Us?

Money has been providing its readers with in-depth product reviews and financial advice for over 50 years.Our mortgage lender reviews are the result of hours of research and analysis of over 20 lenders.We evaluated the variety of loan types offered, average interest rates, customer service ratings and the number of complaints filed against each lender, among other factors.

We also relied on rankings and data from expert sources, including the Mortgage Bankers Association, J.D.Power’s Mortgage Origination Satisfaction Study and the National Multistate Licensing System (NMLS).

Our Top Picks for Best Mortgage Lenders of 2024

(#rocket)– Best Customer Service (#lendingtree)– Best Marketplace [Veterans United](#veterans)– Best Online Lender for Military Members (#better)– Best for Fast Closing Time (#guild)– Best for First-Time Homebuyers (#navy)– Best In-person Lender for Military Members (#newrez)– Best for Investment Property Loans (#bankofamerica)– Best National Bank

Best Mortgage Lender Reviews

– First-time homebuyers can pay as little as 1% down

– Best in customer satisfaction in J.D.Power study

– Representatives are available every day of the week

– No home equity lines of credit available

– No brick-and-mortar locations

– Type of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA

– Minimum Down Payment

– 3%

– Minimum Credit Score

– 620

Why we chose this company: Rocket Mortgage (NMLS: #3030), formerly Quicken Loans, stands out for its quality of customer experience.

It ranked first in customer satisfaction in J.D.Powers 2023 U.S.Mortgage Servicer Satisfaction Study.

Loan applications can be fully processed online, and Rocket’s products are available in all 50 states.Customers can also speak with one of the company’s 3,000+ affiliated mortgage bankers.Moreover, Rocket services almost all the loans it originates, so you’ll get consistent support from start to finish.

You can get cash credits if you buy or sell a house using Rocket Homes and Rocket Mortgage.Buyers can get 1.25% of the loan amount back (up to a maximum of $10,000) in closing cost credits.Sellers can get a 0.5% rebate on the sales price.

Rocket offers a variety of mortgage options, including conventional mortgages, FHA, VA and jumbo loans, plus flexible loan terms ranging between eight and 29 years.

The lender recently introduced a 1% down loan option, One+, for borrowers earning 80% or less of the area median income and meeting qualifying income requirements.

See rates on

Rocket Mortgage’s Secure Website >>

– Compare offers from over 300 lenders in minutes

– Comprehensive learning resources available

– You could receive multiple phone calls or emails from different lenders competing for your business

– Type of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA, USDA (specifics vary by lender)

– Minimum Down Payment

– Varies by lender

– Minimum Credit Score

– ~585 (recommended)

Why we chose this company: LendingTree’s (NMLS #1136) extensive network of lenders and straightforward quote comparison process make it our pick for the best marketplace.

LendingTree lets you compare mortgage products from over 300 lenders through a simple three-step online process that consists of answering a series of questions, comparing offers side-by-side and discussing your options with a loan officer.

To get started, you must provide your social security number and information about your income, assets, education, debts and work history.

LendingTree then runs a soft credit check and uses your FICO score to match you with lenders.

Finally, you’ll be contacted by up to five lenders with preliminary quotes.

LendingTree recently introduced its Spring account, a tool to track and improve your credit score, get personalized financial guidance and receive customized offers for home and personal loans, credit cards and more.

The website offers plenty of educational resources regarding mortgages and loans, including a glossary of loan terminology, current rates for all types of home loans, several calculators and a national loan officer directory.

It also features reviews so users can read about experiences other customers have had with each lender.

See rates on

LendingTree’s Secure Website >>

– Competitive interest rates

– No down payment or PMI required

– Online credit counseling program available for borrowers with poor credit history

– No home equity loans available

– Only has physical branches in 18 states

– Type of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA, USDA

– Minimum Down Payment

– 0%

– Minimum Credit Score

– 620

Why we chose this company: Veterans United’s (NMLS: #1907) robust online platform and online credit counseling program make it a solid choice for active-duty military members who may not have the ability to visit a physical branch.

Veterans United specializes in loans backed by the U.S.Department of Veterans Affairs and is a great option for service members, reservists, veterans and their families.

The lender provides free online credit counseling through its Lighthouse Program, which matches customers with a credit specialist who helps them map out a credit score improvement plan.

Its mortgages are available nationwide, though Veterans United only has physical branches in 18 states: Alabama, Alaska, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Kentucky, Nebraska, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and Washington.

Unlike some VA loan competitors, Veterans United doesn’t offer home equity loans or lines of credit (HELOCs), though they do offer VA Cash-Out refinance.The lender also offers conventional and FHA loans for those who may not qualify for a VA loan.

See rates on

Veterans United’s Secure Website >>

– No origination, underwriting, or application fees

– Assistance programs for down payment and closing costs

– Representatives available every day until 9 pm ET

– Doesn’t offer customizable terms

– No USDA, home equity, or home improvement loans

– Not available in Nevada

– Type of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, HELOCs, VA

– Minimum Down Payment

– 3%

– Minimum Credit Score

– 620

Why we chose this company: Better Mortgage (NMLS: #330511) offers a fast and streamlined document submission process, resulting in faster closing times for many customers.

Consumers can obtain a rate quote and a pre-approval letter in just a few minutes.Better also says it has an average loan closing time of 32 days, which is faster than the national average of 50 days as of December 2022.

Customer reviews mention closing times between one and two months.

The lender also offers a One-Day Mortgage, allowing customers to lock in a rate, submit their financial details and obtain a commitment letter stating they’ve been approved for a mortgage within 24 hours.

You can also take advantage of the Better Price Guarantee, which promises to match any valid competitor’s offer and credit you $100 — if they can’t match the price, you get to keep the $100.

Better offers additional services, including insurance policies, attorney referrals, and title and closing services, designed to streamline the homebuying process.

See rates on

Better’s Secure Website >>

– One of the nation’s top five lenders of FHA loans

– Home improvement and manufactured home mortgage loans available

– Specific programs for low-income borrowers available

– Matches customers with down payment assistance

– No current mortgage rates available on its website

– No home equity products available

– Not available in NY and NJ

– Types of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA, USDA

– Minimum Down Payment

– 0%

– Minimum Credit Score

– 620

Why we chose this company: Guild Mortgage (NMLS: #3274) has low credit score requirements and down payment assistance programs that make it a great choice for first-time homebuyers.

In addition to conventional loans, Guild Mortgage offers government-backed FHA and VA loans.The U.S.Department of Agriculture named Guild a Top Guaranteed Rural Housing Lender for 2023 in recognition of the lender’s outstanding USDA loan origination services.

The lender also works with local governments across the U.S.and more than 500 down payment assistance programs specifically designed for first-time homebuyers.

Guild recently launched its 1% Down Payment Advantage Program, which allows the borrower to pay only 1% down (Guild covers another 2%).The program includes a 1% rate buydown for the first year of the loan.

Guild can originate loans in all but two states — New York and New Jersey.

The lender can fully close mortgages online via its digital platform, MyMortgage, which can speed up the closing process.

See rates on

Guild Mortgage’s Secure Website >>

– 324 branches nationwide, catering to military members, reservists, veterans, retirees, and annuitants

– Up to 100% financing and 0% down payment options available

– Rate loan match available

– Doesn’t offer customized rates unless you apply

– Type of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA

– Minimum Down Payment

– 0%

– Minimum Credit Score

– 660

Why we chose this company: With 324 branches nationwide, Navy Federal Credit Union (NMLS: #399807) is our pick for best in-person lender for military members.

Borrowers can also take advantage of NFCU’s rate match guarantee.If you find a better rate elsewhere, NFCU matches it or discounts $1,000 from your closing costs.The credit union also offers a no-refi rate drop: You won’t have to do a full refinance if the rate drops within six months of taking out a specific type of loan (there is a one-time $250 fee).

First-time applicants have access to the Freedom Lock feature, which allows you to lock in a lower interest rate if one becomes available.

Borrowers are allowed up to two locks with a minimum interest decrease of 0.50%.

Navy Federal’s HomeBuyers Choice program is a standout option in the company’s line of financial products.It offers 100% financing, a fixed interest rate, and a seller contribution of up to 6%.

NFCU also services every mortgage it originates in-house for the life of the loan, which means customers do business solely with their chosen lender.Navy Federal membership is open to active-duty military members, reservists, veterans, retirees and their families.

See rates on

Navy Federal Credit Union’s Secure Website >>

– Variety of loan options, including home equity and specialty loans

– Online application process

– Offers investment property loans

– No mortgage rate or fee information on website

– Does not offer Home equity lines of credit

– Types of Loans

– Conventional fixed and adjustable-rate, FHA, VA, Refinance, cash-out refinance, home equity loans, specialty loans

– Minimum Down Payment

– Undisclosed

Why we chose this company:

Newrez is one of the few lenders on our list that offers financing for buyers interested in purchasing investment properties, including those that aren’t owner-occupied.

Newrez’s niche and specialty loans are available for multifamily dwellings, low-to-high-rise buildings, and long and short-term rental properties.While investment property loans make it stand out, the lender also offers a variety of loan options, including conventional and government-backed options with low down payment requirements.

For buyers interested in acquiring a single-family residence, getting a Newrez mortgage offers several benefits.

With Purchase Perks, you can reduce your closing costs by $1,000.The lender also offers an on-time closing guarantee: Get up to $5,000 back if you miss the closing date because of lender delays.

– Thousands of branches nationwide

– Down payment and closing costs assistance program available

– Application can be done digitally

– Rates shown are for a credit score of 740 or higher

– Fee information isn’t available online

– No renovation loans available

– Type of Loans

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA

– Minimum Down Payment

– 3%

– Minimum Credit Score

– 620

Why we chose this company: With more than 4,300 branches and 2,900 lending centers, Bank of America (NMLS: #399802) is one of the most accessible lenders on our list, especially for clients who prefer face-to-face interaction.

Bank of America’s diverse selection of mortgage options, competitive closing costs, interest rate estimates and broad reach make it a solid lender choice overall.It can be an even better choice if you have existing accounts with Bank of America: Preferred Rewards members may qualify for a reduced origination fee or interest rate.

Borrowers can apply and pre-qualify online.Bank of America’s Home Loan Navigator, accessible through the bank’s mobile app, lets users sign, submit and track documents online.

See rates on

Bank of America’s Secure Website >>

Other mortgage lenders we considered

The following lenders were considered for our list, but ultimately didn’t make the cut:

– Loan Types –

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA, USDA

– Minimum Down Payment –

– 3%

Guaranteed Rate (NMLS: #2611) is an online mortgage lender with a fully digital process that can be tracked via an interactive checklist.

The lender also has more than 500 physical branches across all states.It’s the only lender we surveyed offering a 100% money-back guarantee.

Guaranteed Rate has a full suite of comprehensive educational resources, including a Know Your Neighborhood feature that allows borrowers to view market and population trends by zip code, school data, and taxes.You can get your loan approved in as little as one day with Guaranteed Rate’s Same Day Mortgage.

– Allow borrowers to upload and e-sign documents

– Provides sample rates for many of its loan products

– Participates in down payment assistance programs: HomeReady, HomePossible®, Fannie Mae 97%, and Freddie Mac HomeOne

– Over 350 branches across 50 states

– No home equity products

– Not available in Mississippi, Vermont, or West Virginia

See rates on

Guaranteed Rate’s Secure Website >>

– Loan Types

– Purchase, Jumbo, Refinance, ARM, FHA, Reverse Mortgage, USDA, VA

– Minimum Down Payment

– 3%

Fairway Independent (NMLS: #2289) has more than 650 branches across 48 states and the District of Columbia, along with a comprehensive mobile app.Their FairwayNOW app helps streamline the document submission process while also providing calculators and direct communication with your loan officer.

Fairway offers flexible mortgage terms of 10, 15, 20, 25 or 30 years.

Its most notable products are physician loans, designed to help medical professionals currently saddled with student loan debt.

While Fairway Independent receives overall favorable reviews, it doesn’t publish any of its rates, credit score requirements and minimum down payments online.Instead, you must reach out to an agent to access this information.

– Proprietary FairwayNOW app serves as a one-stop shop for documents, communications, and more

– Offers physician mortgage loans

– Flexible term options for fixed-rate loans

– No home equity loan or lines of credit available

– Interest rates and minimum credit score requirements not available upfront

See rates on

Fairway Independent’s Secure Website >>

– Loan Types

– Purchase, Jumbo loans, Refinance, Fixed, Adjustable, FHA, VA, USDA, Home Renovation, Manufactured Home

– Minimum Down Payment

– 3%

PrimeLending (NMLS: #13649) has a broad selection of loan products, including some unique options, such as pool escrow loans, energy-efficient mortgages and FHA 203(k) renovation loans.

With Prime’s 1Day AdvantEDGE, you can get a loan approval within 24 hours of completing the online application process and get a $250 lender credit.

While PrimeLending’s selection is vast, the lender could be more transparent regarding its requirements for borrowers.Further, though the company touts its online availability, potential homebuyers must first speak with a loan officer before completing an application.

– Proprietary Loanplicity® app guides borrowers through the entire process, from application to closing

– Ample selection of mortgage products

– Participates in over eight closing cost and down payment assistance programs

– No lending fees on any VA loan, including renovation

– Float-down rate lock option available within 20 days of closing, if rates drop

– No home equity products

– Must speak with a loan officer before an online application

– Qualifying requirements not published

See rates on

Prime Lending’s Secure Website >>

– Loan Types

– Purchase, Jumbo, Refinance, Fixed, Adjustable, FHA, VA, USDA, Home Renovation, Manufactured Homes

– Minimum Down Payment

– 3%

Though better known as a mortgage servicer than an originator, Flagstar Bank (NMLS: #417490) offers a full suite of loans, including home equity products and several specialty loans.

An example is the Professional Loan, aimed at recent graduates with high earning potential.In some cases, Flagstar may even exclude some student loan debt from its DTI calculation.

– Over 2,000 mortgage brokers in the U.S.and service loans in every state

– Offers some options that don’t require down payments

– Has several specialized products, such as multiple properties or high balance loans

– Borrowers are assigned a single loan advisor and loan processor

– Rates easily accessible

– Home equity products not available nationwide but primarily concentrated in Michigan

– Home equity products have an annual $7 fee and must be taken out in person

– A high number of complaints in the CFPB database related to trouble during the payment process

See rates on

Flagstar Bank’s Secure Website >>

Mortgages Guide

Purchasing a new home and taking on a mortgage loan can be intimidating, especially for first-time buyers.

The process requires a firm knowledge of your personal finances and a long-term financial commitment.This basic information will help you start with confidence and find the best lender for you.

If you need more guidance during the home-buying process, a professional

mortgage banker or mortgage broker can help.

What is a Mortgage?


mortgage is a loan used to buy a house, condo, townhome, apartment or any other type of real estate.When you take out a mortgage, you are using the property you’re buying as collateral to secure the loan, which means that if you stop making the mortgage payments, the bank can repossess the home.

How Do Mortgages Work?

Mortgages are secured loans that use the value of the home you’re buying as collateral.

Loans are secured by making a down payment and meeting the lender’s minimum credit score and income requirements.Borrowers typically need 20% of the purchase price to avoid private mortgage insurance.

However, getting a loan with as little as 3% down is often possible.

Mortgages are repaid over time with interest, and loan terms can run from eight to 30 years.

Most Americans need a mortgage to afford a home.The drawback of a mortgage is if you’re unable to make your monthly payments, the lender can seize the property.

If you’re already a homeowner and thinking about refinancing your mortgage, check our

mortgage refinance calculator and our list of the best mortgage refinance companies to get started.

Types of mortgage loans

To fit the diverse needs of homebuyers, mortgage companies offer products with a range of lengths, interest rates and payment structures.Be sure to compare different types of financial institutions to find the lender that best meets your needs.

Conventional loans

The most common type of mortgage loan, conventional loans are offered by private lenders and are not part of any government insurance programs.Conventional loans can be conforming or non-conforming.

– Conforming loans meet the loan limits set by the Federal Housing Finance Agency and the standards required to be purchased by Fannie Mae and Freddie Mac, which are government-sponsored mortgage investors.

– For 2024, the conforming loan limit is $766,550 in most places.In some expensive areas, the limit goes up to $1,149,825.

– Non-conforming loans are those that do not meet these standards and therefore stay on the private lender’s books.

Jumbo loans

Jumbo loans are a type of conventional, non-conforming loan for home purchases priced above the conforming loan limits of $1,149,825.

FHA loans

A Federal Housing Administration is a government-backed mortgage program popular with first-time buyers.

– The government offers lender insurance on this type of loan, so

FHA mortgage ratestend to be lower than conventional loans.

– You can also make a lower upfront down payment with this type of loan, typically as low as 3.5% of the purchase price.

VA loans

Another government-backed loan, VA loans are guaranteed by the US Veterans Affairs Department.

VA loans are available to service members, veterans and eligible surviving spouses.

– They often come with lower interest rates and have no down payment or private mortgage insurance requirements.

However, it requires a

VA funding fee.For more information about VA loans, check out our guide to the best VA loans.

USDA loans

A reverse mortgage allows homeowners age 62 or older to convert their home equity into cash without having to sell their property.

Reverse mortgage:

A reverse mortgage allows homeowners age 62 or older to convert their home equity into cash without having to sell their property.

– As long as the homeowners live in the house, they don’t have to pay back the loan — however, there are caveats, such as having homeowners insurance and maintaining the property in good condition.

– The homeowner can choose to receive the loan through different payment options, such as a monthly disbursement or a lump sum payment.

– Instead of a reverse mortgage, homeowners under the age of 62 can also look into

home equity loans, which are similar in concept, though with different repayment rules.

– The

best reverse mortgage lenderswill refer you to an independent financial counselor before applying to explain how this type of loan works and ensure you make the right choice.

Fixed-rate vs.adjustable-rate mortgages

Once you start shopping for a mortgage, you’ll find two types of interest rates: fixed rates and adjustable rates, also known as variable rates.

A fixed rate means that the interest the lender charges on the loan will never change as long as you meet the terms of the loan.In other words, if you make your monthly payments, don’t refinance the mortgage or alter the loan agreement in any way, your interest rate will always stay the same.

On the other hand, an adjustable rate means that the interest will change according to market conditions, meaning it could increase or decrease several times during the loan’s term.

When talking about

adjustable rate mortgages (ARM), most lenders will offer what are called hybrid ARMs: they will have a fixed-rate number of years where the rate won’t change, then become variable and start adjusting.

Each type of interest rate has its pros and cons.You should carefully consider each one before deciding which type or interest rate best fits your needs.

Fixed-rate mortgages

– Interest rate doesn’t change over the life of the loan

– Predictable monthly payments

– Ideal for long-term homeownership

– Higher interest rates than adjustable-rate mortgages

– Harder to qualify for when interest rates are high

Adjustable-rate mortgages (ARM)

– Lower interest rates during fixed-rate period

– Ideal for short-term homeownership

– Easier to qualify for higher loan amounts

– Interest rates may go down throughout the life of the loan

– Monthly payment amounts can change multiple times over the life of the loan

– Interest rates can potentially double in the span of a few years

Another important piece of information you need to know is the difference between your loan’s interest rate and the annual percentage rate (


The interest rate is the rate your lender is charging on the amount you borrow.The APR is the total percentage you’ll pay the lender and includes your interest rate plus any applicable loan fees, including loan origination and underwriting costs.


current mortgage rates and the APR being offered by the lender to make sure you’re getting the best rate.Borrowers who can qualify for a lower rate will save money on their loan over time.

How to Get a Mortgage Loan

Your first step toward getting a home mortgage loan is to determine your budget.Check our

mortgage calculator and home affordability calculator to see how much you’ll be able to afford in monthly mortgage payments and get an estimate of your ideal purchase price.

Part of determining how much home you can afford is figuring out your down payment.As a general rule of thumb, a 20% down payment is recommended because you’ll avoid paying for private mortgage insurance (PMI) — a policy that will protect the lender in case you default on the loan.

Most lenders, however, will have lower down payment requirements.

Before applying for a mortgage, make sure to check your

credit score.Lastly, check your debt-to-income ratio before applying.

Lenders prefer borrowers with a debt-to-income ratio lower than 36%, and many lenders will not even consider borrowers with a ratio higher than 43%.

It is also important to compare mortgage lenders to make sure you find the one with terms that best fit your financial situation.Once you’ve decided on a lender, gather all the necessary paperwork to help streamline the application process.

Documents needed when submitting a mortgage application include:


Your two most recent pay stubs

2.Your most recent tax return


W-2 and/or 1099 (lenders may ask for two years, depending on your employment history)

4.A state-issued photo ID, such as your passport or driver’s license

5.Statements of all your assets (retirement accounts, investment accounts, checking and savings accounts, etc.)


Bankruptcy discharge documents (if applicable)

7.A recent

credit report (typically obtained by the lender)

8.Records of any outstanding debts, such as credit cards and student loans


In some cases, lenders may require additional documentation, like a history of alimony payments and gift letters, so make sure to ask before applying

Lenders will perform

hard credit inquiries when you apply, making sure there are no red flags in your credit history that may impact your chances of approval.If you apply with multiple lenders within 45 days, your score will not be affected.Credit reporting agencies recognize this as shopping around for the best mortgage rate.

Another good idea is getting a

mortgage pre-approval before deciding on a property.Getting a pre-approval letter will save you time and make the mortgage process more manageable.

It is important to note that student loans count against your debt-to-income ratio, which can make applying for a mortgage a tricky proposition for many individuals.However,

getting a mortgage when you have student loans is not uncommon, so make sure to thoroughly explore all of your bank’s options to secure the best rates.

Once you’ve submitted your application, the lender will generally provide you with a loan estimate within three business days.The loan estimate is a document that outlines the preliminary terms of the loan you have requested.

Latest News on Mortgage Lenders

Mortgage rates may have eased lower than their 2023 highs but they are still having a big impact on affordability.

Current mortgage rates have hovered between 6.6% and 7% for the past three months.

Although that is significantly lower than they were last October, many prospective homebuyers are finding that other factors are keeping the costs of homeownership too high.Home insurance costs increased by 20% between 2021 and 2023, and a new study is forecasting another big increase this year.The most expensive states for home insurance, like Louisiana and Florida, are likely to see costs increase by double digits this year.

There is some good news, however.Home prices have stabilized in some housing markets and inventory has increased, leading to several cities having a rising supply of homes selling for under $350,000.

Mortgage Lenders FAQs

How much house can I afford?

How to buy a house

What is private mortgage insurance?

What credit score do mortgage lenders use?

The FICO scoring system is most commonly used by mortgage lenders.There are many different versions of FICO Scores.Each of the three credit reporting bureaus — Experian, Transunion and Equifax — will use a different version when it comes to mortgages: FICO 2, FICO 4 and FICO 5, respectively.However, the Federal Housing Finance Agency recently announced that all lenders will be required to phase in the VantageScore 4.0 model, in addition to the FICO 10T score, over the next few years.

Individual lenders will require a minimum credit score that can range between 580 and 660, depending on the type of mortgage (Conventional, FHA, VA, etc) being applied for.

How long does it take to get a mortgage preapproval?

How We Chose the Best Mortgage Lenders

Our ranking methodology was determined based on the following categories:

– Types of loans offered: We favored companies that offer a variety of loan options, such as fixed- and adjustable-rate mortgages, different term lengths, and both private loans and loans backed by government agencies.

– Customer experience: We favored companies that consider alternative credit data, provide a streamlined application process, offer at least two forms of customer service, and have a variety of resources and educational tools on their websites.

– Reputation and transparency: We evaluated consumer complaints with the Consumer Financial Protection Bureau and the number of regulatory actions filed with the Nationwide Multistate Licensing System

Over the course of our research, we consulted the following expert sources:

The Mortgage Bankers Association Veterans Administration’s 2021 list of lenders by loan volume J.D.

Power’s 2022 U.S.Mortgage Origination Satisfaction Study Residential Originations Databook Consumer Financial Protection Bureau (CFPB) Nationwide Mortgage Licensing System (NMLS)

Summary of Money’s Best Mortgage Lenders of 2024




Rocket Mortgage – Best Customer Service LendingTree – Best Marketplace Veterans United – Best Online Lender for Military Members Guild Mortgage – Best for First-Time Homebuyers Navy Federal – Best In-Person Lender for Military Members https://www.newrez.com/ – Best for Investment Property Loans

640 (for conventional loans)


Bank of America – Best National Bank Better Mortgage – Best for Fast Closing Time.

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