3 min read Nov 02, 2022

3 Best Mortgage Lenders in the U.S

Best Mortgage Lenders in the U.S

Mortgage lenders finance buyers so that they can buy their dream homes. Let’s look at the best mortgage lenders and assess which is ideal for home buyers amidst sporadically rising interest rates.

Reviews: 3 Best Mortgage Lenders in the U.S

1. Rocket Mortgage

Best for Refinances

Rocket

Rocket Mortgage Logo
  • Min. Credit Score: 620
  • 📍 Coverage: 45 markets
  • 4 Stars 4/5 (2,031 reviews)

Rocket Mortgage is an online mortgage lender and is quite popular for refinances. In 2021, Rocket Mortgage achieved $1 billion in annual closed loan volume and became the biggest mortgage lender in the U.S.

  • Pre-Approval Speed: 8 minutes
  • Credit Scores against Loan Types:
    • 580 – FHA, VA
    • 620 – Conventional
    • 680 – Jumbo
  • Interest Rate: Same as National Average (7%)
  • Days to Close: 47 days
  • Types of Loans:
    • Offers fixed- and adjustable-rate conventional and jumbo loans, FHA loans
    • Doesn’t offer USDA, home equity, HELOCs, land loans, or loans to purchase foreclosures

What You Need to Know about Applying for a Mortgage from Rocketmortgage.com

  • How to apply: Online via rocketmortgage.com website or in-person at one of the 4 branch offices in Charlotte, Cleveland, Detroit and Phoenix.

Rocket Mortgage has 4 out of 5 stars on Consumer Affairs.

Nationwide Coverage: Rocketmortgage.com is available in 50 states.

2. Better Mortgage

Best Digital Platform

Better.com

Better Mortgage Logo
  • Min. Credit Score: 620
  • 📍 Coverage: 45 markets
  • 4.25 stars 4.3/5 (1,918 reviews)

Better Mortgage is an online platform that helps home buyers get a mortgage for new homes, refinances, etc. With its fast closing time, and highly intuitive digitized interface, Better.com offers a seamless mortgage application process.

  • Pre-Approval Speed: 20 minutes
  • Credit Score: 620
  • Interest Rate: Lower than National Average (7%)
  • Days to Close: 32 days
  • Types of Loans:
    • Better.com offers fixed- and adjustable-rate conventional and jumbo loans, FHA loans
    • Better.com doesn’t offer VA and USDA loans

What You Need to Know about Applying for a Mortgage from Better.com

  • How to apply: Online via better.com website

Better Mortgage has 4.3 out of 5 stars on Trustpilot.

Near-Nationwide Coverage: Better.com is helping home buyers get mortgages in 47 states.

3. Bank of America

Best National Bank

BOA

logo image
  • Min. Credit Score: 620
  • 📍 Coverage: 45 markets
  • 4 Stars 4/5 (2,204 reviews)

Bank of America is the biggest national bank and has processed over thousands of home mortgages.

  • Pre-Approval Speed: 20 minutes
  • Credit Score: 620
  • Interest Rate: Lower than National Average (7%)
  • Days to Close: 30 to 45 days
  • Types of Loans:
    • Offers fixed- and adjustable-rate conventional and jumbo loans, FHA loans
    • Doesn’t offer USDA loans

What You Need to Know about Getting a Mortgage from Bank of America

  • How to apply: online via bankofamerica.com

Bank of America Mortgage has 4 out of 5 stars on Consumer Affairs.

Near-Nationwide Coverage: Bank of America processes mortgages in 42 states.

What is a Mortgage?

A loan taken to buy a house is a mortgage. The borrower will pay the mortgage lender periodically, and the property serves as the collateral. The common types of mortgages are:

  • Fixed-rate mortages: Interest rate remains constant throughout the term of the loan
    • 5-year fixed-rate mortgages
    • 15-year fixed-rate mortgages
  • Adjustable-rate mortgages: Interest rate changes based on the prevailing interest rates

You can get a mortgage by communicating with the lender directly or via a mortgage broker.

🤌 Mortgage Brokers: Everything you need to know about mortgage brokers in the U.S

Best Mortgage Lenders Near Me

RegionStates/CitiesHow Much is Title Insurance Near Me
NortheastStatesBest Mortgage Lenders Connecticut | Best Mortgage Lenders Maine | Best Mortgage Lenders Massachusetts | Best Mortgage Lenders New Hampshire | Best Mortgage Lenders Pennsylvania | Best Mortgage Lenders New York | Best Mortgage Lenders New Jersey | Best Mortgage Lenders Rhode Island | Best Mortgage Lenders Vermont |
NortheastKey CitiesBest Mortgage Lenders Binghamton, NY | Best Mortgage Lenders New York City, NY | Best Mortgage Lenders Lehigh Valley, PA |
MidwestStatesBest Mortgage Lenders Illinois | Best Mortgage Lenders Indiana | Best Mortgage Lenders Iowa | Best Mortgage Lenders Kansas | Best Mortgage Lenders Michigan | Best Mortgage Lenders Minnesota | Best Mortgage Lenders Missouri | Best Mortgage Lenders Nebraska | Best Mortgage Lenders North Dakota | Best Mortgage Lenders Ohio | Best Mortgage Lenders South Dakota | Best Mortgage Lenders Wisconsin
MidwestKey CitiesBest Mortgage Lenders Naperville, IL | Best Mortgage Lenders Canton, OH | Best Mortgage Lenders Cleveland, OH | Best Mortgage Lenders Columbus, OH | Best Mortgage Lenders Cincinnati, OH |
SouthStatesBest Mortgage Lenders Florida | Best Mortgage Lenders Arkansas | Best Mortgage Lenders Delaware | Best Mortgage Lenders Florida | Best Mortgage Lenders Georgia | | Best Mortgage Lenders Kentucky | Best Mortgage Lenders Louisiana | Best Mortgage Lenders Maryland | Mississippi | Best Mortgage Lenders North Carolina | Best Mortgage Lenders Oklahoma | Best Mortgage Lenders South Carolina | Best Mortgage Lenders Tennessee | Best Mortgage Lenders Texas | Best Mortgage Lenders Virginia | Best Mortgage Lenders Washington D.C. | Best Mortgage Lenders West Virginia |
SouthKey CitiesBest Mortgage Lenders Tampa, FL | Best Mortgage Lenders St. Augustine, FL | Best Mortgage Lenders Bradenton, FL | Best Mortgage Lenders Puerto Rico, FL | Best Mortgage Lenders Atlanta, GA | Best Mortgage Lenders Savannah, GA | Best Mortgage Lenders Augusta, GA | Best Mortgage Lenders Houston, TX |Best Mortgage Lenders San Antonio |Best Mortgage Lenders Austin, TX | Best Mortgage Lenders Nashville, TN |Best Mortgage Lenders Chattanooga, TN |
WestStatesBest Mortgage Lenders Alaska | Best Mortgage Lenders Arizona | Best Mortgage Lenders California | Best Mortgage Lenders Colorado | Best Mortgage Lenders Hawaii | Best Mortgage Lenders Idaho | Best Mortgage Lenders Montana | Best Mortgage Lenders Nevada | Best Mortgage Lenders New Mexico | Best Mortgage Lenders Oregon |Best Mortgage Lenders Utah | Best Mortgage Lenders Washington | Best Mortgage Lenders Wyoming |
WestKey CitiesBest Mortgage Lenders Irvine, CA | Best Mortgage Lenders Los Angeles, CA | Best Mortgage Lenders San Diego, CA | Best Mortgage Lenders Hendersonville, NC | Best Mortgage Lenders Charlotte, NC | Best Mortgage Lenders Raleigh, NC |

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