The Best Places to Get a New Home Loan

Are you looking for a new home loan but aren’t sure how to go about it? You are not alone. Studies reveal that 8 out of 10 home buyers finance their homes with a mortgage, and choosing the best lender can save you thousands of dollars over the life of your loan, not to mention that the entire process is made less painful and intimidating.

Some home buyers might look for those providing the best interest rates and fees. However,that is just one piece of the big jangly puzzle you are into. The best lenders often have it all: engaging services, affordable rates, and available resources.

The Best Places to Look for a Home Loan

We are going to look into the best places you can possibly avail yourself of all these qualities and have your housing needs met according to King of Kash.

Loan Depot

There are many reasons why people consider refinancing, which includes having a more valuable home. When you are looking for smooth and simple refinancing, there's no better place you can reach out to other than Loan Depot. In fact, it is one of the most popular firms in the refinancing industry. To date, this lender has funded well over $70 billion in mortgage loans, making it among the biggest lenders in North America.

Unlike other random banks, it offers loans that are not incentivized to promote one product over the other. This makes it beneficial for homebuyers because they are never forced to accept a transaction that is out of their basic needs and situation.

Lenda

Lenda is a mortgage lending industry that can only be accessed through the internet. You can check the refinancing estimates from its website to know if you qualify. However, that does not mean that you can only access its service online.

As a matter of fact, it offers a door-to-door service which helps its customers to delve smoothly into the lending process. The process is reliable and convenient.

While one of the biggest hassles in terms of mortgage lending are the loads of paperwork and documents that might be missed out along the process, Lenda ensures through its digital system that customers are easily notified as to what documents they need to send in and what documents are lacking.

Citi Mortgage

Citi Mortgage is a good choice if you are looking for a reliable mortgage option. It demands a lower down payment to those who have a low income and offers mortgage options to almost everyone, given that they satisfy the requirements set by the company. That does not exactly mean that everyone will be able to qualify and access its services. However, should you qualify for FHA or VA loan programs, you have a higher chance of getting an approval from Citi Mortgage.

Unlike the other mortgage lenders listed here, Citi Mortgage is not as big a thing in the lending industry. That is why, as of now, they are putting a great deal of their efforts in creating a new online mortgage origination system.

Chase

If you prefer a face-to-face interaction with a human mortgage banker, as opposed to online money lenders, you might want to work with Chase. Chase is among the biggest banks in the world. It is a top mortgage lender, and is a popular choice in the U.S. for everything from banking to mortgage.

While it does not have the best rates compared to other mortgage lenders, it never would be considered a weakling in the mortgage market. In fact, it has better customer service than other lenders, and offers industry-leading online and mobile forms to manage your loans.

Quicken Loans

Quicken Loans possess all qualities you might want to choose in your mortgage lender. As of now, they are one of the largest loan originators based on the debtor and dollar volumes, offering as much as 436,000 loans. Quicken Loans has been on the peak of the mortgage industry for years, not because of being a silly tokenistic advertiser on television but rather because it offers competitive rates and smooth application process for its customers.

Its online lending application is attractive and trendy nowadays, which makes it stand out among many traditional mortgage lenders. It does not require lots of paperwork and hours of typing just to list all of your accounts. Everything happens automatically when you connect your bank accounts with the online environment set by Quicken Loans. For all of these reasons, many people use it every year.

Which One Should You Go For?

No matter which lender you choose, remember that you need to calculate your liability well. You do not want a loan that has high interest rates, as rates could rise in the future too.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes