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Buying a new home is an exciting time at any stage of life. But amid a multitude of mortgage lenders, choosing the right one can be a challenge. To point you in the right direction, here are our picks for America’s top lenders.
Best mortgage lenders
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
We chose these five lenders based on several criteria, including fees, loan amounts, interest rates and eligibility requirements. We also considered customer reviews from sites such as Trustpilot and the Better Business Bureau (BBB). Learn more about our home loan rating methodology.
Between the seemingly endless documents and the confusing terminology, buying a home can be stressful if you've never done it before. With Rocket Mortgage, the preapproval process takes place online, and you can get a conditional prequalification in less than 10 minutes. The company offers more options than many other mortgage lenders, and there's no penalty for paying your loan off early.
Pros
Speedy service. Conditional prequalification approval takes only minutes, and most loans close within one week.
Flexible options. Rocket Mortgage offers a variety of loan terms, giving you more control.
No prepayment penalty. If you pay off your loan early, Rocket Mortgage won't penalize you.
Cons
Deposit required. You'll need to pay between $400 and $750 to have Rocket Mortgage process your application.
Limited loan types. Rocket Mortgage doesn't offer loans for construction or mobile homes.
No face-to-face service. Rocket Mortgage doesn't have any brick-and-mortar branches. If a personal touch is important to you, it won't be a fit.
AmeriSave is a competitive lender, offering a standard suite of mortgage products and an intuitive online application. Its track record of quick closings and its fully online process has won the lender high ratings in customer reviews. If you prequalify, AmeriSave will lock your rate for up to 90 days while you shop around for a house — many mortgage companies only lock your rate for 30 to 60 days. Great customer reviews and a Certified Closing Promise make this lender stand out.
Pros
Great customer reviews.
Lock in a rate for up to 90 days while you shop around
Three-minute prequalification online with no impact to credit.
When it comes to mortgage rates, a difference of just 1 percentage point can translate to tens of thousands of dollars over the life of your loan. Guaranteed Rate offers some of the lowest mortgage rates in the industry, online prequalification only takes a few minutes and the company is committed to transparency when it comes to calculating rates.
Pros
Competitive rates. Guaranteed Rate offers some of the lowest interest rates available to qualified borrowers.
Transparent website. The company clearly details the factors it considers when determining interest rates.
Prequalify online. The online prequalification process offers near-instant decisions.
Cons
Slow service. Customer reviews are critical of Guaranteed Rate's slow service at branch locations.
Must have decent credit. You must have a credit score of at least 620 to qualify for the best rates.
Limited locations. Guaranteed Rate operates nationwide, but some states have only one or two branches.
Loan products offered
Conventional, Jumbo, FHA, VA, Refinance
Minimum credit score
Conventional: 620 Other mortgages: As low as 580, depending on type
Minimum down payment (Conventional)
3%
State availability
Available in all states
NMLS #
2610
Minimum credit score
Conventional: 620 Other mortgages: As low as 580, depending on type
Plenty of mortgage lenders offer refinancing loans, but few are as impressive as Better. Better is a direct lender that doesn't charge origination fees. Plus, the company price-matches competitors if you find a better deal elsewhere. Better's loan officers don't earn commissions on loans, so you don't have to worry about pressure to pick options you're not interested in.
Pros
Fast approval. The online preapproval process takes three minutes.
No origination fee. Better never charges processing fees on applications.
Direct lending. You deal directly with Better. And unlike some other direct lenders, it doesn't charge application or origination fees.
Cons
Limited loan options. Better doesn't offer some types of loans, including VA and USDA loans.
Not available nationwide. Better is growing, but as of September 2020 it's not licensed in Hawaii, Massachusetts, Minnesota, Nevada, New Hampshire, Vermont or Virginia.
Loan products offered
Conventional, Jumbo, FHA, VA, Refinance, HELOC, Equity Unlocker
To thank veterans for their service to our country, the US government has established exclusive programs that help members of the military purchase homes. Several mortgage lenders specialize in these programs, but among them all, Veterans United is the best. Its specialists can walk you through every step of the process. The lender also has low rates, earns an impressive rating of 4.9 out of 5 on Trustpilot and offers approval with no down payment to qualified veterans.
Pros
Options. Veterans United offers a variety of loan types, even if you aren't in the military.
Easy application. The online application process is intuitive and speedy.
Excellent for veterans. Veterans are likely to qualify for better terms than with other lenders.
Cons
Limited locations. As of September 2020, offices are in AL, AK, CA, CO, FL, GA, HI, ID, IL, KT, NB, NC, OK, SC, TN, TX, VA and WA.
No HELOCs. Veterans United doesn't offer home equity loans or lines of credit.
Not ideal for civilians. Only veterans and active-duty service members get the best terms.
This San Francisco–based company was founded in 2012 with a focus on student loans. Today it can help you secure a mortgage as well. Yet unlike traditional mortgage lenders that loan out their own capital, marketplace lenders like Credible act as brokers that match borrowers with investors. Credible's loan officers aren't commissioned, so they won't try to upsell you on options you're not interested in. Plus, the excellently rated marketplace doesn't charge fees and offers higher lending limits than many of its competitors.
Pros
No fees. Credible doesn't charge any fees, although the lenders it pairs you with might.
Strong reviews. Credible currently earns a rating of 4.7 out of 5 on Trustpilot.
Soft inquiry. Credible performs soft credit checks during prequalification, which means it won't hurt your credit score.
Cons
No negotiation. Credible is not a direct lender, so you can't negotiate interest rates or loan terms.
Limited availability. Credible mortgages are not available in all states.
No face-to-face support. Credible is online-only, so you can't meet with representatives in person.
Choosing the right lender can be a challenge if you’re not sure what to look for. A few features to compare while you’re shopping around:
Types of loans. There are several types of mortgages — including jumbo, conventional, fixed rate, adjustable rate and government insured. Not all lenders offer all types, so knowing which kind you want can help you narrow down your options.
Mortgage rates. Generally speaking, the lower the rate on a home loan, the less you’ll pay over time.
Down payment requirement. If the amount you’re able to put down on a home is limited, the lender’s requirements based on your financial situation can make or break your purchasing power.
Cost and fees. Some are less than transparent. Comb through the fine print and ask about all fees involved.
Prepayment penalties. Some lenders penalize you for paying off your loan early, while others don’t. If you plan on paying off your mortgage ahead of time, look for a lender that won’t charge you a fee for it.
Credit score flexibility. Different lenders have different credit requirements when it comes to credit scores, and some are more strict than others. Knowing where your score stands can help you find the lenders most likely to approve you.
Face-to-face service. Many modern digital lenders lack brick-and-mortar branches. If in-person service is important to you, a more traditional lender might be a better fit.
Bottom line
Our top five mortgage lender picks offer some of the lowest rates and best loan terms around — and they’re each well-reviewed by their customers. But if they don’t align with your needs, continue comparing your mortgage options until you find the right fit.
Home loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.
Michael Benninger is lead editor of banking at Forbes Advisor and a former writer at Finder, specializing in banking. His work and analysis has been featured in Business Insider, Yahoo Finance, GoBankingRates and the Los Angeles Times, among other top media. He holds a B.A. in business administration and marketing from Rowan University in New Jersey.
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finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
