Top spots to get a mortgage loan
The best mortgage lender depends largely on what type of transaction you’re dealing with, as well as the size and type of your loan. But according to new rankings, you can’t go wrong with Quicken or New American. Both were named one of the best mortgage lenders for purchase loans this week by Nerdwallet.Verify your new rate (Aug 7th, 2020)
America’s best mortgage lenders
According to NerdWallet’s 2019 rankings of Best Mortgage Lenders, Quicken Loans and New American Funding are the country’s top choices for homebuyers.
Quicken Loans is the “ideal choice for convenience and quick-response customer service,” NerdWallet reported. “Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.”
As for New American Funding, NerdWallet says the lender is best for non-traditional borrowers.
“New American Funding offers FHA and VA loans, works with down payment assistance programs and seeks borrowers whose credit histories don’t fit the mold of traditional banking,” NerdWallet’s review of the lender stated.
The rankings are based on loan types and products offered, online capabilities, mortgage rate data and service. and Complaints filed with the Consumer Financial Protection Bureau and other factors were also considered.Verify your new rate (Aug 7th, 2020)
Other lending winners
For refinance loans, NerdWallet ranks Chase and Lenda among the top lenders, while PNC and U.S. Bank claim the top spots for home equity lines of credit.
Rocket Mortgage and Guaranteed Rate rank among the best online lenders, according to NerdWallet, and Better Mortgage and SoFi are top choices for jumbo loans.
For borrowers looking for specific loan types, New American and Citi Mortgage are the best bets for FHA mortgages. Veterans United and Guaranteed Rate claim the top ranks for VA loans.
Get today’s mortgage rates
Are you considering buying a home or refinancing? Then shop around and see what mortgage rates you qualify for today.Verify your new rate (Aug 7th, 2020)