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
Is ONE+ by Rocket Mortgage a good deal?
Learn the ins and outs of this new low down payment program from Rocket Mortgage.
FHA mortgage calculator
What will your monthly FHA loan repayment be? Find out.
How much would I pay on a million dollar mortgage?
Breakdown of what you might pay monthly over the life of a $1,000,000 mortgage.
Best mortgage lenders of 2023
Shopping for a new home? Here are seven of the best mortgage lenders in America.
Compare today’s mortgage and refinance rates
Compare mortgage and refinance rates from lenders in your area to see how much you’ll pay on your next home loan.