For anyone who wants to buy a home, you’re inevitably going to be looking for the mortgage rate that benefits you the most. After all, for a lot of people out there, they’re already juggling quite a few bills as it is. Car, health insurance, and even student loans can all be carving out the contents of your wallet.
Because of that, items like home interest and a mortgage should be considered carefully. To help you out and find the best mortgage for you, here is a list of top 10 best home interest rates and mortgage lenders that can start you off.
1. Quicken Loans
You’ve likely heard of Quicken Loans since they have a massive ad campaign that is due, in large part, to their popularity. The mortgage rates at Quicken Loans are competitive, so you can often find a deal that won’t feel like you’re signing your life away. In addition, they have an easy application that removes a lot of the tedious paperwork that other mortgage lenders require.
Originally, SoFi was focused on just student loan refinancing, but since then has branched out into other areas of finance like mortgages. They make the list because they look at more than just your credit card score. They also take a look at any college degrees you may possess as well as your earning potential. In addition, they can offer you 30-year and 15-year fixed loans and a 7/1 ARM and 5/1 interest-only ARM loan.
3. Loan Depot
For those who are interested in trying their hand at getting a decreased mortgage rate, then Loan Depot is the place to go. They waive refinance fees and reimburse appraisal fees if you decide to refinance again at a later date with them. They’re the lender to go to when you want to consider refinancing.
4. New American Funding
For those who possess a credit score with a minimum of 580, then New American Funding can likely help you with a loan. They manually go over each application instead of running it through an algorithm. They also consider more than just your credit score before approving or denying your application.
Lenda is an excellent choice for its ease of use during the application process. It’s an online-only lender, however, assistance is readily on hand if you need any help. They also update you if you have any missing forms or information, so you’re not waiting around for someone to tell you that your application can’t be processed like at a typical lender.
6. Citi Mortgage
For those with low incomes and can qualify for an FHA or VA loan, then Citi is the place to go. Citi is part of Citibank, one of the largest banks in the country. As such, it has considerable power in its lending deals. For those who have a low income and need a loan, then this bank could be for you.
7. Guaranteed Rate
While an interest-only loan isn’t the most ideal path since it does not allow you to build equity in your home, it does work for some people. For those who want an interest-only loan, then Guaranteed Rate is an excellent choice. They offer five and ten-year loan plans.
One of the best banks out there with competitive rates is Chase. They’re your traditional mortgage lender, so if you want something that’s familiar, then Chase will have your back. They offer excellent customer service on a one-on-one basis.
9. Busey Bank
These guys offer numerous different loans, even FHA and VA loans, so you are sure to find a rate that works best for you. They’ve also been in the business for 150 years, so they have a lot of experience in dealing with loans.
While they offer an assortment of loans, PennyMac wins when it comes to a low downpayment. For many lenders, that downpayment could be all that stands in their way of acquiring a home. With PennyMac, you can make that dream of owning a home a reality.