Purchasing a home is one of the most important decisions you will make in life. Along with this decision comes a possibly even more important one; picking the best mortgage lender. Finding the best mortgage lender involves more than just a good interest rate. Among other things you want to be sure that the overall company that you will work with is one of the best and is staffed by professionals that will guide you through the entire mortgage process.

With so many lenders on the market, and those seeking loans being able to access many of them online, the competition for your business is very stiff. This works in your favor and helps to keep rates very competitive and lenders honest. If there is something that makes you uneasy about one lender, simply move on to the next as there are many to choose from.

Here are a few tips that will assist you in your search for the best mortgage lender.

  1. Get your credit score in shape – the higher your credit score is, the more power you’ll have.
  2. Be familiar with the mortgage lending landscape – the more you know, the better
  3. Compare rates from different lenders – you can look for the best rates online
  4. Know what to ask – communication, fees and requirements are some essential topics to cover
  5. Make sure to read the fine print – you’ll want to know more than just the principal and interest payments

Below are some of the best reviewed major national mortgage lenders. Reviewing this list will help you to quickly find the lender that is best for your needs.

Best mortgage lenders for. . . 

Refinancing 

If you have already been through the process of getting a mortgage loan before and are looking to simply refinance, here are two different lenders that offer excellent refinancing plans:

  • Lenda
  • Specializes in refinancing
  • Has a minimum of 640 credit score for qualification
  • Has a suggestion engine that will analyze the information that you provide and use it to determine if there is anything you can do to lower your rate.
  • Chase
  • Consistently offers some of the lowest available refinance rates among major lenders
  • Offers HARP federal refinance programs to those who are eligible
  • Writes FHA and VA refinance home loans

 

First-time Home-buyers

Below are the top two lenders that cater to homebuyers. These typically offer FHA loans or other similar programs with low down-payment requirements. They also offer loans to those with lower credit scores.

  • Wells Fargo
  • One of the largest FHA lenders in the nation
  • Offers its yourFirst Mortgage programs
  • Provides down payment assistance
  • Quicken Loans
  • Largest FHA lender in the nation
  • Has a 1% down payment program
  • You can complete the application process online

Online Lenders

One of the most convenient options available today is the online application and payment options.  Lenders offer online portals for loan management making payments and accessing your loan make the entire process very smooth.

  • Rocket Mortgage by Quicken Loans
  • Provides loan applications online and through a mobile app
  • Most financial details can be imported
  • You can get your loan decision within minutes
  • GuaranteedRate
  • Online application process
  • Provides free credit scores
  • Has 170 branches over the nation