13 Best Mortgage Lenders of January 2022

Why we like it

Pros

• Uses manual underwriting to evaluate creditworthiness, in some cases.

• Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

• Mortgage origination fees tend to be on the high end, according to the latest federal data.

Why we like it

Pros

• An online process with human help as needed.

• Makes it easy to see customized mortgage rates.

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

• Appraisal guarantee promises the loan won’t change even if appraisal is lower than expected.

Cons

• Doesn't offer home equity loans or HELOCs.

• Doesn't do VA or USDA loans.

• Appraisal guarantee is limited to borrowers who use Better real estate agents.

Why we like it

Pros

• Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

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

• Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

• Getting a customized interest rate requires a credit check, which can affect your credit score.

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

• Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

Why we like it

Pros

• Devotes much of its business to serving military families with VA loans.

• Considers nontraditional income sources, in some cases.

• Offers competitive rates and origination fees.

Cons

• Does not offer home improvement mortgages.

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

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 electronic submission and tracking of loan documents.

• Carries a wide variety of mortgage types and products.

• Generally offers competitive rates, according to the latest data.

Cons

• Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

• You have to speak with a home loan adviser to complete the application.

• Home equity lines of credit (HELOC) are currently unavailable.

Why we like it

Pros

• Offers a full range of online capabilities, including e-signatures and online loan process tracking.

• Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.

Cons

• Origination fees are on the higher end, according to the latest federal data.

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

Why we like it

Pros

• Offers extensive educational resources for military borrowers.

• Provides digital tools for a streamlined application process.

• Participates in some state down payment assistance and first-time home buyer programs.

Cons

• No mortgage rates displayed online.

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

Why we like it

Pros

• Offers a wide range of loan types and products, including FHA, VA and USDA.

• Has a full suite of online conveniences.

• Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

• Availability of some loan products may be geographically limited.

Why we like it

Pros

• Offers 24/7 customer service over the phone.

• Has online application and prequalification.

• Offers a free credit counseling service.

• Employs advisors from each branch of the armed forces.

Cons

• Doesn’t offer home equity loans or HELOCs.

• Veterans United has physical branch offices in only 17 states.

• Information on FHA, USDA and conventional loans is harder to find on its website.

Why we like it

Pros

• Provides numerous online conveniences, including loan application and process updates.

• Current rates clearly posted for various loan products.

• Offers a wide variety of loan types and products.

Cons

• Home equity loans and lines of credit suspended due to COVID-19 are still unavailable.

• Scandals and government actions have damaged consumer trust in recent years.

• No home improvement loans offered.

Why we like it

Pros

• Has a full suite of online capabilities, including application, document uploading and process updates.

• Site displays many combinations of loans and interest rates.

• Rates and fees are lower than most lenders, according to the latest data.

Cons

• Home equity loans and lines of credit, as well as purchase-renovation loans, aren't options.

• VA loans are currently unavailable.

Why we like it

Pros

• Low- or no-down-payment options with no mortgage insurance.

• Mortgages are available for non-warrantable condominiums.

Cons

• Does not offer government-backed mortgages, like FHA and VA loans.

• Does not offer renovation mortgages.