Best Mortgage Lenders of 2025

Overview

• The website provides comparisons of different mortgage lenders for potential home buyers and investors.
• It offers detailed reviews, rates, and information about various mortgage options.
• The site receives compensation from the companies listed, although this does not imply endorsement.

Main Features

• Advertising Disclosure: The site is an online resource that provides content and comparisons, and receives compensation from featured companies.
• Mortgage Types: Information is available on various types of mortgages, including purchase, VA loans, home equity, HELOC, refinance options, and cash-out refinance.
• Rates: Updated rates are provided for different mortgages, including a current 30-year fixed rate of 7.375%.

Key Mortgage Lenders

• Rocket Mortgage: Digital-only platform, fast application, 24/7 service.
• Veterans United: Focus on military families, 100% financing for veterans, no PMI.
• AmeriSave: Offers low rates, quick quotes, rate protection, and has funded $100 billion in loans.
• Quicken Loans: Offers personalized lender recommendations and low down payment options.
• New American Funding: Trusted lender with customizable loans and 100% online application.

Types of Mortgages

• Conventional Loans: Most common, requires 20% down payment, some lenders offer as low as 3%.
• Jumbo Loans: For amounts exceeding FHFA limits, higher risk and stricter requirements.
• FHA Loans: Government-backed for those with poor credit; requires PMI until 20% equity.
• VA Loans: No down payment for qualified veterans; government-backed.
• USDA Loans: For rural areas, no down payment but requires PMI until 20% equity.
• First-Time Buyer Loans: Low down payment options and possible assistance programs.

Types of Rates

• Fixed-Rate Mortgages: Steady payments over the loan’s life, protects against rising rates.
• Adjustable-Rate Mortgages (ARMs): Lower initial rates, potential for higher future rates.

Applying for a Mortgage

• Assessment Factors: Credit score, income, expenses, down payment size.
• Required Documents: Social security number, pay stubs, tax returns, bank statements, etc.

Comparing Mortgages

• APR: Includes interest rate and lender fees, crucial for comparing costs.
• Terms: Loan durations vary, affecting monthly payments and total interest.
• Closing Costs: Range from 2-6% of the loan value; vary by lender.
• Ease of Application: Many lenders offer online applications.
• Transparency: Look for clear information about rates and fees.

Privacy and Scoring

• Brand Scores: Based on TrustPilot and Semrush ratings.
• Privacy Assurance: Only licensed and secure brands are featured.

Additional Resources

• The website provides articles and resources for first-time buyers, VA loans, refinance rates, and more.

Legal and Contact Information

• Terms and Policies: Includes Terms of Use, Privacy Policy, and Cookie Policy.
• Contact: Users can reach out for more information or assistance.

This guide provides an overview of mortgage lenders, types, and application processes, aimed at helping users make informed decisions when considering a home loan.