When weighing your lender options for a home loan, tracking down information from providers can be tricky. Many lenders aren’t upfront about interest, fees and terms. It can take some digging to track down important information, without having to sit down and fill out an application.
Our loan rating system is designed to help you compare a lender’s overall performance and not just its costs. When rating our mortgage providers, our researchers consider three distinct factors: interest rates and fees, its products and mortgage types and overall borrower experience.
Our star rating system provides you with a starting point to help you determine what’s best for your situation. After you’ve narrowed down lenders you’re interested in, dive into the details with our provider reviews before applying for a loan.
We rate loans using a system of one to five stars.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
How we rate interest rates and fees
When we analyze interest rates and fees, we look at a lender’s average interest rates and origination charges on completed loans from the previous year. These reports come from reputable sources such as the Home Mortgage Disclosure Act (HMDA).
We weigh those rates and fees against other lenders in the market. So when lenders charge fees like commitment, application, rate-lock or other “junk” fees, its ratings can fall.
How we rate mortgage types and products
When we look at a mortgage provider’s selection of loan types and available products, we consider its lending options to meet a borrower’s needs.
We look for conventional and government-backed mortgages, as well as home equity options. Providers that offer additional products outside of the norm, reaching more kinds of borrowers can score higher in this area.
How we rate borrower experience
We look at perks that improve a borrower’s overall experience when applying for and repaying the loan. For example, we consider whether a provider’s services are available both in-person and online, and the states the provider’s licensed in.
We like perks that include mobile apps, online dashboards, online chat features and mobile-responsive websites. Multiple ways to contact customer service can boost a provider’s score.
More guides on Finder
Wells Fargo and 4 other bank stocks on the rise in 2022
These five bank stocks are leading the financial sector as it rises in response to higher interest rates expected from the Fed.
Donut savings review
Donut earns up to 10% APY, but you must have an iOS device.
Earning on KuCoin
Explore all of the ways to earn interest on a variety of cryptocurrency assets by using KuCoin exchange, including staking and lending.
Compare car insurance in Stockton
Compare car insurance rates and features that serve Stockton.
SALT Lending crypto loans review
Everything you need to know to get a SALT crypto loan in 2021.
January’s top interest rates on BTC, ETH and stablecoins
Find out where to earn yield on your cryptocurrency investments this month as we compare between leading DeFi and CeFi platforms
Bitcoin price nosedives after Fed suggests interest rate hikes by end of Q1 2022
With interest rates likely to jump significantly by the end of Q1, markets including stock and crypto have reacted adversely to the news.
Guaranteed Rate vs. Rocket Mortgage
How Guaranteed Rate and Rocket Mortgage stack up against each other.
Gravity Lending review
Gravity Lending matches borrowers with lenders so you can get the best vehicle refinancing deal out there.