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bestonlinemortgageloan.com is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.
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2021’s Best Mortgage Lenders
Finance your Dream Home with the Best Rates
Comparing different mortgage loans can help ensure you are getting the most current rates. Compare our leading mortgage lenders today to find a home loan for purchase or investment
2021’s Best Mortgage Lenders
Comparing different mortgage loans can help ensure you are getting the most current rates. Compare our leading mortgage lenders today to find a home loan for purchase or investment
2021’s Best Mortgage Lenders
Last Updated March 2021
Selected mortgage lenders for you
9.8
1
Digital lender with great rates
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9.2
2
Nation’s largest mortgage lender
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8.8
3
No fees & commissions
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Loan Purpose
Purchase
Credit Score
Good (690-719)
+ Filters
Filters
Loan Purpose
Purchase Purchase Research Purchase ASAP Refinance Home Equity
Credit Score
Excellent (720-850) Good (690-719) Fair (630-689) Poor (350-629)
How We Score
We show product scores to help you choose the right mortgage for you. Here’s how they’re calculated
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
TrustPilot Score
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
User Engagement Score
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated based on the number of clicks a brand’s chart listing has received in the past 7 days. The greater the proportion of clicks a specific brand receives relative to the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device (mobile engagement is scored independently of desktop engagement, for example), and also by the specific type of mortgage loan they are comparing.
The brand's chart position is influenced by the compensation we receive from such brand. In some cases, this may also impact a brand's User Engagement score.
Low Rates
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Our Score
9.0
Our score
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 5,894 Reviews
4.0
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
8.5
Our score
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 17,474 Reviews
4.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
8.3
Our score
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 275 Reviews
4.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
7.2
Our score
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 2,917 Reviews
3.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
7.5
Our score
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 13 Reviews
4.0
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
Direct Lender or Marketplace
Direct lenders provide loans to borrowers. Marketplaces help borrowers compare direct lenders.
Direct
Direct
Direct
Direct
Direct
Minimum Credit Score
580+
630+
630+
630+
620+
Minimum Down Payment
Lowest down payment across all mortgage products.
10%
0%
3%
0%
3%
Bottom Line
View rates without hard credit pull
Nation’s largest mortgage lender
No fees & commissions
Fast Streamlined Application
Purchase-ready approval in 15 minutes
Core Features
Advertises Rates
Market-Beating Rates
Pro
Digital Lender with Great Rates
Quick application and closure
Best-rate guarantee
Completely online lender
No need for pre-approval
Con
No loans for manufactured homes
Live chat only available in business hours
Only in 44 states
No physical branches
Process impacts your credit score
Types of Loans
Fixed Rate
Conventional loan with fixed rate for duration of loan
Adjustable Rate
Conventional loan with adjustable rate for introductory period of 3-10 years
Non-Conventional Loans
Government-backed loans such as FHA, VA, and USDA.
Cash Out Refinance
Alternative way of using home equity to borrow cash
HE/HELOC
Loans and lines of credit that let homeowners tap into their equity to borrow large sums
Jumbo
Loan that exceeds FHA’s conforming limits, usually more than $424,100.
FHA
Government-backed loan for borrowers with low credit, with 3.5-10% down payment
VA
Government-backed loan for military personnel and veterans
USDA
Loans backed by Department of Agriculture for rural and suburban homes
Reverse Mortgage
Enables homeowners aged 62 and older to use their home equity to borrow
Operations
Customer Support
More Info
Bottom line
View rates without hard credit pull
Nation’s largest mortgage lender
No fees & commissions
Fast Streamlined Application
Purchase-ready approval in 15 minutes
Review
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More Info
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Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 5,894 Reviews
4.0
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
1
Low Rates
  • Get pre-qualified in 3 minutes
  • View rates without hard credit Pull
  • Digital lender with strong reputation
9.0
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 17,474 Reviews
4.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
2
  • America’s largest mortgage lender
  • Real-time updates on loan progress
  • Custom loans to suit your goals
8.5
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 275 Reviews
4.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
3
  • No fees & commissions
  • Free rate-lock feature
  • Best-rate guarantee
8.3
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 2,917 Reviews
3.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
4
  • Digital-only mortgage platform
  • Loans customized to your needs
  • Fast Streamlined Application
7.2
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 13 Reviews
4.0
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
5
  • Purchase-ready approval in 15 minutes
  • Market-beating rates
  • Mobile-friendly platform
7.5
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 1 Reviews
3.5
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
6
  • Wide range of loan products
  • Local agents in every part of the country
  • Major independent lender
7.0
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
Based on 6,286 Reviews
5.0
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
7
VA Loans only
  • America’s largest VA loan provider
  • Free expert advice from Veterans
  • Loan agents operate 24/7
8.5
Our score
View Rates
Read Review
Our brand scores, which are rated on a scale up to 10, are a sum of the TrustPilot and User Engagement scores
No reviews on
TrustPilot is an open, global platform where users write product reviews and assign products a star rating. In the event that a product does not have a TrustPilot score, their score will be based solely on the User Engagement score (see below).
8
VA Loans only
  • Best place to compare VA loans
  • Network of 270+ VA lenders
  • Loads of useful information about VA loans
7.0
Our score
View Rates
Read Review
Comparing the Top Mortgage Lenders
Whether you’re a first-time buyer or real estate investor, purchasing a new home is always challenging. Getting a mortgage can be stressful and complicated, what with all the rates, fees, and paperwork to worry about. Fortunately, this website contains guides and reviews to the best mortgage lenders in the business. We’ve found everything there is to know about the mortgage lending industry to save you the trouble.
Types of Mortgages
Conventional Home Loans
The most common form of mortgage is a conventional mortgage. These types of home loans involve two parties: the borrower (you) and a lender. Most lenders require borrowers to make at least a 20% down payment to get a conventional mortgage, with some exceptions. For example, if you purchase a home for $300,000, your lender will require you to pay down at least $60,000 and loan you the remaining $240,000.
FHA Loans
This is a government-backed loan administered by the Federal Housing Administration for buyers with poor credit or lack of funds for a 20% down payment. FHA loans come in two forms: 3.5% down payment for borrowers with credit of 580-619, or 10% down payment for borrowers with as low as 500-579 credit score. The one major catch of taking out an FHA loan is that you must purchase monthly private mortgage insurance (which you can stop paying once you reach 20% equity).
VA Loans
The VA loan is a government-backed loan administered by the Department of Veteran Affairs. Some lenders offer VA loans without any down payment. Like the FHA loan, monthly PMI is a condition of taking out a VA loan. The following people may apply for a VA loan: veterans who have served at least 90 consecutive days of active service in wartime or 181 days of active service in peacetime; members of the National Guard and Reserve who have served at least 6 years; and spouses of veterans who died in the line of duty or as a consequence of a service-related injury.
Other Loans
Other types of loans include:
  • Jumbo loans: These are conventional home loans that exceed the FHA’s limit. The limits actually vary based on geographic region, typically around $300,000 to $424,000.
  • USDA loans: Government-backed loans administered by the US Department of Agriculture. These are designed for people buying in rural areas. Like FHA and VA loans, they offer the option of buying with a down payment of less than 20%.
  • Home Equity Loans: Often referred to as a second mortgage, these are loans that let you borrow money against your home equity. The most common type is the home equity loan, or HEL. Another type is the home equity line of credit, or HELOC, which is like a HEL except the borrower can withdraw money up to a pre-set credit limit.
  • USDA loans: Government-backed loans administered by the US Department of Agriculture. These are designed for people buying in rural areas. Like FHA and VA loans, they offer the option of buying with a down payment of less than 20%.
  • Home Equity Loans: Often referred to as a second mortgage, these are loans that let you borrow money against your home equity. The most common type is the home equity loan, or HEL. Another type is the home equity line of credit, or HELOC, which is like a HEL except the borrower can withdraw money up to a pre-set credit limit.
  • Cash-out Refinance: This is a type of mortgage refinancing option that lets the borrower turn some of their home equity into cash. Because this option lets borrowers “cash out”, so to speak, cash-out refinance is often a viable option to a home equity loan.
Types of Rates
Fixed-Rate Mortgages
This is the more popular of the two options, especially among first-time home buyers. Fixed-rate mortgages are mortgages with fixed rates for the entire duration of the loan. When you take a fixed-rate mortgage, you pay more in year one than you would if you took an adjustable-rate mortgage. However, your rate never increases (nor decreases), meaning you can plan exactly how much you’ll pay in monthly instalments across the life of the loan. Once you’re locked into a fixed rate, you’re protected when the Fed and the banks start raising rate.
Adjustable-Rate Mortgage
Adjustable-rate mortgages, also known as ARMs or variable-rate mortgages, carry higher risk and higher reward than fixed rates. ARMs are always cheaper than fixed-rate mortgage in year one, but they carry the risk of higher interest rates in future years. ARMs have two components: the number of years your introductory rate applies; and the intervals at which rates get updated. Most lenders offer ARMs of 3/1, 5/1, 7/1, or 10/1. A 3/1 ARM refers to an ARM with a fixed rate for the first three years and a rate update every year after that. The shorter your fixed period, the better your introductory rate (and the riskier the loan). Because of their unpredictable nature, ARMs are best used by borrowers with high risk appetite or with the intention of paying off their mortgage quickly.
Top Mortgage Lenders
#1
View Rates
Pros
  • Offers 3% down conventional loans
  • Loan experts are on hand to assist at any time
  • Full suite of non-conventional loans
Cons
  • No home equity loans
  • No weekend phone hours
AmeriSave Mortgage Corporation is a direct mortgage lender operating in 49 states and DC. Since 2002, it has financed more than $220,000 homes to the tune of $52 billion in funding. It is known for its competitive rates and streamlined application, with approvals in as quickly as 25 days. It offers a wide range of loans, making it a good choice for anyone looking to purchase a home or refinance their mortgage.
#2
View Rates
Pros
  • Nation’s largest lender
  • Quick application and closure
  • Option of physical or online applications
Cons
  • Rates aren’t always lowest
  • No home equity loans
  • Live chat only available in business hours
If you’re looking for an easy and comfortable loan, QuickLoans can help. Not only do QuickenLoans help ensure you get a mortgage that’s right for you to save time, but the platform ensures you are aware of your loans status 24/7 so you can keep track of what is required of you and what has already been done to avoid repeating steps that have already been completed, saving you time and confusion.
#3
View Rates
Pros
  • Guaranteeing Competitive Rates
  • Free rate-lock feature
  • Best-rate guarantee
Cons
  • Only in 44 states
  • No live chat
Better.com is a direct lender with a simple online application that can be completed any time, any day of the week. Better.com aims to revolutionize the way Americans get a mortgage – after completing an application, you can access personalized rates, talk to a dedicated non-commissioned Mortgage Expert, generate custom loan estimates, and search for mortgage discounts in your area Better has automated much of the mortgage process. This drastically reduces the cost to originate and allows Better to pass as much of those savings as possible onto the customer and invest in customer satisfaction. Better.com was recently named Best Mortgage Lender for Customer Service by Nerdwallet. Last but not least, rates at Better.com are backed by the Better Price Guarantee, which promises that Better won’t just match a competing price, but beat it by $1,000.
How to Compare Mortgages
Here are some of the things to look for when comparing lenders:
  • APR: Your APR, or annual percentage rate, is the rate you pay each year based on interest rate plus lender fees. The lower the APR, the less interest you pay each year.
  • Terms: Loan duration, or term, is just as important as APR. Most lenders offer terms between 10 and 30 years. The shorter the term, the higher your monthly payments but less you’ll pay in interest over the life of the loan. The longer your term, the lower your monthly payments but more you’ll pay your lender in the long run.
  • Customer service: Customer service is always important, but even more so when we’re talking about six-figure deals. Always search for a lender that is transparent about rates and fees, open about the requirements, and won’t waste your time dragging out the application process. In the digital age, all the top lenders offer the option of applying for a mortgage and uploading documentation online.
Digital lender with great rates
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Nation’s largest mortgage lender
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No fees & commissions
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Must Reads
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Fed’s Near-Zero Rate Decision Means Cheaper Mortgages Probably on the Way
Surprisingly, mortgage rates went up immediately after the Federal Reserve slashed the benchmark interest rate to near-zero on March 15. This was probably just a temporary bounce, and in all likelihood mortgage rates will quickly begin moving downward again. In otherwise difficult times, low mortgage rates will bring cheer to people hoping to buy or refinance
Read More
Find the Best HARP Loans Lender
If you find yourself unable to refinance your mortgage because your home is falling in value, then there is a federal government program designed to assist you: the Home Affordable Refinance Program (HARP).
Read More
Find the Best VA Home Loans Lenders
VA home loans have helped more than 22 million veterans purchase their own home since the 1940s and continues to be available today through some of the nation’s best mortgage lenders
Read More
Answering the What, How and Why of Home Equity Loans
Is it a mortgage? Or is it a personal loan? If you’ve been searching the market for a loan, you’ve probably come across the home equity loan.
Read More
Best Lenders for Home Equity Loans
If you’re a home owner and find yourself in need of a large amount of cash to fund a major expense such as a renovation, medical expenses, or your kids’ college tuition, one type of loan you should consider is a home equity loan
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Find the Best Lenders for First Time Home Buyers
If you qualify as a first-time buyer and have begun shopping around for a mortgage and a new home, we have good news to tell you: some of the nation’s best lenders will be willing to offer you a home loan with a down payment of less than the usual 20%. All you need to do in return is pay private mortgage insurance (PMI), which typically costs 0.5% to 1% of the value of the loan annually.
Read More
Guide to Mortgage Loans for Manufactured Homes
An estimated 20 million Americans live in mobile homes, and not all of them fit the overplayed stereotype of being poor. According to the most recent U.S. Census, there were 8.5 million mobile homes scattered throughout the country. Around 57% of these homes were occupied by at least one person in full employment, and an additional 23% were occupied by retirees.
Read More
10 Factors You Should Consider When Choosing Your Mortgage Loaner
If there is one thing that I have learned over my time, it’s that unless you’re a banker or a mortgage loaner, you probably don’t understand everything there is to know about mortgages. In fact, I’m willing to bet that you’re here because you’re looking for a mortgage loaner and aren’t sure where to start. This is where this guide comes in. When it comes to finding a mortgage loaner, it’s important to think everything through properly, which is difficult when you aren’t sure where to begin – so here are our top 10 things you should consider when choosing a mortgage loaner.
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What is The Right Time To Refinance Your Mortgage?
If you’ve been weighing up whether or not to pay off your existing loan and replace it with another one, also known as refinancing your mortgage, then our handy guide is here to help. Sometimes refinancing sounds like a good idea on paper, but in reality it’s not always possible or practical. Lenders are tightening up their rules and regulations, making it more difficult to acquire a loan, so we’ve put together a complete guide to help you decide whether it’s the right time to refinance.
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Types of Mortgages Loans
Whether it’s your very first home, or you’re moving for the third time in your life, moving house is always an exciting process. Amongst all of the giddiness though, there is usually a lot of stress involved. We all know that mortgages aren’t cheap, and that if we want to be able to cope with the monthly payments, we have to choose the right one for our needs and lifestyle. In 2017, homebuyers are left with a very difficult decision, as there are numerous types of mortgage loans on the market, all offering something unique but useful. If you’re amongst the thousands who are struggling to make a final decision, hopefully this in depth guide will help you to identify the right mortgage loan for you.
Read More
Why Credit Score Matters in Mortgage Applications
In most cases, maintaining a strong credit score is the most important thing you can do to ease your mortgage application process. You credit score and report help your lender determine your ability to pay back your home loan. Therefore, your lender will take into account your score and report when assessing whether to offer you a mortgage loan and when calculating your rate and terms.
Read More
Mortgage Industry Review 2017
American home buyers had a fantastic 2017, with the average 30-year fixed-rate mortgage falling from 4.32% to 3.95% (before rising back to around 4.5% by May 2018) and total home sales rising 1% to 5.51 million, the highest figure since 2006. Beyond that, there was plenty of other big news in the mortgage industry last year, which we recap in this article.
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First Time Buyer Guide
Buying your first home is an equally exciting and daunting process. After months of renting properties, or even living at your family home, you finally have the money ready to begin the process… But where do you start? There are several legal and financial steps to take before you can buy a home. Read on for our complete first time buyer guide, which will help you get to grips with all of the steps required to purchase your very first house.
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bestonlinemortgageloan.com is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.
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