When choosing a mortgage, you should take a couple of parameters in your decision.
First, it’s important to look at each of the different options when it comes to getting a house of your own. By knowing what’s out there and what’s available you’re going to be better prepared for what’s best for you. Whether you have a large amount that you can put into a down payment or a small amount, and whether you want a fixed or adjusted rate mortgage, you can find something. You’ll be able to find some great benefits through each of these programs as well.
You just want to make sure you’re weighing things out appropriately and that you’re working on what’s going to work best for you and your family in the long run, whether that’s paying equally right from the start or paying a little now and a whole lot more later on.
Here are The Smart Investor select’s picks for the top mortgage lenders of 2020:
Quicken Loans is a major nationwide lender with a variety of loan options that can meet almost any customer’s needs. It has an abundant and robust online presence. You apply from your phone, your iPad, any mobile device, as well as your computer and conduct the entire process online. There are many calculators and resources to help any borrower on their web site.
Quicken Loans does not have to boast about its Customer Service ratings (usually obtained by internal polling of customers) – it is a widely respected company by both consumers and major and minor ratings agencies (BBB.com, JD Powers & Associates, ConsumerAdvocate.org, etc.). Negative ratings can be found, but they are in the minorit
Sofi Mortgage is a solid loan partner for the best loans in the market. The Company specializes in personal finance, and their products are geared towards providing financial empowerment for individuals seeking loans. They require a minimum credit score of 660 and a minimum down payment of 10% for customers seeking to collect a loan. They provide full digital support for clients and do not require private mortgage insurance for jumbo loans.Some of the loan plans offered by the provider include Jumbo loans, adjustable-rate mortgage, FHA loans, VA loans, cash-out refinance, and fixed mortgages. The initial process to get a loan can be started online, and once the preapproval has been passed, you will be assigned a loan officer who will work you through the loan process.
If you would like a quote for rated and fees, you will need to fill out a form online because Sofi mortgages do not have any available quotes on their website. It has an A rating from the Better Business Bureau, which is a testament to the company’s efficiency in delivering on its promise. Sofi Mortgage is a trusted market leader in the lending space.
Suntrust is best suited for the borrower who can deal with technology (if not located in the Southeastern United States) and who meets reasonable standards for credit score (620 – 850), can qualify based on their income and demonstrate down payment and reserve requirements for Suntrust’s programs.
You do not have to have the highest credit scores or significant cash down payment for their loans. Suntrust has a solution for most borrowers, including some that require no cash down and a workaround for jumbo borrowers who cannot meet the reserve requirements.
Better Mortgage provides an excellent online service where resources, loan approval and rates are readily available. It also offers different mortgage and loan options for individuals that want to buy home; Better Mortgage provides a coherent and easy to navigate the loan application process and does not charge any fee. The Bank uses an outstanding digital mortgage experience, which makes it easy to get a rate quote immediately and verified preapproval within 24 hours. The Better Business Bureau has accredited better Mortgage, and it has an A+ rating with four stars out five stars from 238 customers that provided reviews.
Federal housing administration (FHA) loans, bridge loans, jumbo loans, and conventional out loans. To get a conventional loan from Better Mortgage, you need to have an excellent credit score, FICO score of 620 or more and an income to debt ratio of about fifty-five percent.
The Better Business Bureau has accredited better Mortgage, and it has an A+ rating with four stars out five stars from 238 customers that provided reviews. Aside from this, it has 4.3 stars out of 5 stars from customers review on Bank rate, Lending Tree and Zillow.
Chase Mortgage is one of the top-rated lenders in the lending industry. Serving more than 60 million households in the U.S with home lending advisors in about 30 states readily available on phones and email shows how credible chase mortgage is.
The Bank offers a full menu of fixed and adjustable-rate loans, including the federal housing administration loan, veteran administration loan and jumbo loan of up to $3Million. Chase also offers a low-down payment and a low-income option called the DreaMaker Mortgage.
The DreaMaker mortgage program is designed to assist individuals buying a home for the first time, and individuals with low to moderate-income afford a mortgage and buy home. The DreaMaker program also helps individuals buy a home with a down payment of 3% and no minimum borrower contribution.