10 Best Mortgage Lenders of September 2020 for Jumbo Loans

Why we like it

Pros

• Excels in online convenience, with document upload, loan tracking and e-signatures.

• Offers good rate transparency; rate shoppers can see customized interest rates.

• Jumbo loans with as little as 10% down, with no mortgage insurance.

Cons

• Limited variety of loan products: FHA, VA and USDA loans are unavailable.

• Doesn't offer home equity loans and lines of credit.

Why we like it

Pros

• For higher-value homes, offers 10% down with no mortgage insurance on jumbo loans.

• An online process with human help as needed.

• Offers an "underwriter-reviewed" preapproval letter in as little as 24 hours.

Cons

• No physical locations, so in-person support isn't available.

Why we like it

Pros

• Allows electronic submission and tracking of documents.

• Existing Chase customers can get discounts.

• Offers a wide selection of purchase and refinance mortgages.

Cons

• Charges rate lock, origination and underwriting fees.

• You have to speak with a mortgage banker to get complete info on products and requirements.

Why we like it

Pros

• Offers a robust suite of loan products, including a variety of renovation loans.

• Has a digital application that can be completed in 10 minutes.

• Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

• Mortgage rates aren't posted online.

Why we like it

Pros

• The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.

• With your authorization, accesses asset statements from 98% of U.S. financial institutions.

• Tells you the loan amount you’ll qualify for within minutes.

• Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

• If you’re a “look me in the eye” type of customer, you’re out of luck.

Why we like it

Pros

• Offers the ability to securely upload and digitally sign loan documents.

• Displays detailed sample rates for many of its loan products.

Cons

• Doesn't offer home equity loans or lines of credit.

Why we like it

Pros

• Allows borrowers to apply entirely online.

• May give existing customers a discount on mortgage lender origination fees.

• Accepts down payments of less than 20% for jumbo loans.

Cons

• Does not offer renovation loans.

Why we like it

Pros

• Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.

• Offers a complete suite of online mortgage application tools and loan tracking.

• Sample rates and fees are easy to find on the website.

Cons

• Customized rates aren't available online without starting an application.

• Branches are limited mostly to the Southeast.

Why we like it

Pros

• Provides customizable mortgage rates on its website.

• Offers low rates and fees compared with other lenders.

• Has higher maximum loan amounts.

Cons

• Charges a mortgage application fee.

• Requires help from a mortgage loan officer to complete the loan application online.

Why we like it

Pros

• Online tools help you estimate mortgage payments and track application progress.

• Can be used for primary or second home purchases.

• $5 million max jumbo loan amount.

Cons

• It's not possible to complete the entire mortgage process online.

• In-person service is not available in every state.