Whether you’re a first time homebuyer, a landlord seeking rental properties or a real estate investor, you will probably need the help of a mortgage company to complete your property purchase.
Mortgage companies help people secure funding in the form of secured loans against residential or commercial property. Mortgage companies also help property owners refinance existing loans if they are having financial difficulties or might benefit from new terms.
Top 12 Mortgage Companies For You
Amerisave Mortgage is one of the United States' largest online mortgage lenders. The mortgage broker, headquartered in Atlanta, GA, was first founded in 2001.
|Read 1958 Reviews|
First Internet Bank is a leader in online and mobile banking. The company launched in 1999 and offers full service banking but does not have traditional brick and mortar locations. They offer a wide variety of mortgage products.
|Read 9 Reviews|
Caliber Home Loans, Inc., originates mortgage loans through various channels and transaction types, and since its inception, grown its mortgage production volume while growing its servicing portfolio to over $75 billion.
|Read 1188 Reviews|
Jersey Mortgage Co. is a mortgage company founded in 1938. It offers loans and mortgage refinancing in New Jersey, Pennsylvania, New York, Florida and Connecticut.
|Read 158 Reviews|
Prospect Mortgage is a mortgage lending company that is backed by private equity firm Sterling Partners. The company, which is headquartered in Sherman Oaks, CA, offers a range of home loan solutions.
|Read 458 Reviews|
Headquartered in Dallas, TX, Nationstar Mortgage is a lending company founded in 1994. Nationstar currently serves more than 2 million customers, and they service more than $375 billion in loans.
|Read 5934 Reviews|
LendingTree offers a wide range of loan services, including auto loans and mortgages. The company was founded by Doug Lebda in 1998, and it is headquartered in Charlotte, NC.
|Read 703 Reviews|
Ocwen Financial Corp. is one of the leading mortgage servicing companies in America, serving over 1.5 million customers. Through our lending affiliate, Homeward Residential, Inc. we help customers refinance or buy their next home.
|Read 1908 Reviews|
Network Capital Funding is a nationwide direct mortgage lender. With legendary customer service & competitive rates, the company is an INC 500 Honor Roll recipient for the Fastest Growing Companies for 5 consecutive years.
|Read 159 Reviews|
With more than 30 years of experience in lending, Quicken Loans has helped over two million consumers finance or refinance their homes. Quicken’s helpful online resources make it ideal for people new to loans and mortgages.
|Read 2892 Reviews|
Guaranteed Rate Mortgage is headquartered in Chicago and has grown into a national company since it was founded in 2000. The company provides loans in all 50 states from 189 offices and online with digital mortgages.
|Read 35 Reviews|
Gateway Mortgage was founded in 2000 by J. Kevin Stitt. Headquartered in Tulsa, Oklahoma, Gateway Mortgage offers loans in more than 30 states.
|Read 18 Reviews|
What features matter most?
Brand-name mortgage lenders do more business than new mortgage companies because people recognize their name. Name recognition often leads consumers to believe the lender is honest and competent. Whether you go with a brand name or a lesser-known company, check out its reputation before you sign.
- Number of loans in default: If a mortgage company has a high default rate, it might be engaging in risky practices, like approving loans that people can’t pay back. It’s not in your best interest to do business with an indiscriminate lender because you could end up with serious financial problems.
- Look for predatory lending complaints: An unknown or newer business may be perfectly legit, but it also may be a scam. Check out complaints to find out whom you’re dealing with.
- Check out customer feedback online: Online reviews aren’t always accurate, but if a lender is getting more positive feedback than negative or vice versa, it can give you an idea of what you can expect. It’s also important to check out how a complaint has been resolved if that information is available.
There are more financing options than ever in the digital age. If a mortgage lender only has a limited number of options – only fixed-rate mortgages, for example – you might miss out on opportunities that could save you money in the long run.
- Online financing options: If you’re comfortable using a computer for financial applications, you can comparison shop and apply for mortgages via some lenders’ websites. Just make sure your personal information is encrypted and that mortgage applications are legitimate.
- Adjustable vs. fixed rate mortgages: The type of mortgage you pursue depends on market conditions. If interest rates are likely to rise, you may be better off with a fixed-rate mortgage, but if they are expected to fall, an adjustable mortgage could save you money. It’s essential to understand the worst case scenario on an adjustable rate loan – the highest your payment could rise – to make sure you are prepared.
- Potential obstacles: The type of mortgage you may qualify for depends on your credit history and credit score. Find out what you are likely to qualify for before you start looking, then approach mortgage lenders who offer the options you’re interested in. Reputable mortgage lenders can advise you on steps to take so you’re eligible for the best loan terms.
The mortgage company your sister used last year is often more trustworthy than the one you found via a Google search. The company you found on Google may be perfectly fine, but if you don’t know anybody who used it, you can’t verify its quality like you can when asking friends and family.
- Ask for specifics: You may be looking for something different than what your family members or friends wanted. Find out what they liked about the companies they recommend.
- Get a balanced picture: Ask your friends and family to share both the negatives and the positives in their experience so that they don’t give you an overly positive picture.
- Check out referred companies on your own: Don’t commit to doing business based on a personal referral alone. Use it as a starting point to investigate companies and choose the one that is best for you.
Lowest possible interest rates
Depending on your credit, you may not qualify for the most favorable loan terms. However, your mortgage company should do its best to get you the lowest interest rate possible.
- Ask your financial advisor about interest rates: You should have an idea of what standard interest rates are prior to talking to a mortgage broker. If you’re offered a rate that is much higher than average, find out why.
- Comparison shop: Talk to several different mortgage companies. Find out what interest rates each one offers and choose the company that gives you the best deal. It’s smart to check out different types of companies such as a credit union, a big bank, a community bank and a mortgage banker to compare your loan options.
- Learn about pre-payment options: Determine how much you can save any money by paying your mortgage off early. If you can, consider doing so in order to keep interest rates as low as possible.
Clear payment terms
Getting the loan is only the first step. You will also need to understand how and when to pay it back, what interest rates and fees you’re looking at and what the consequences are if you are late with your payment.
- Find out the payment schedule: If you have graduated payments, which go up periodically, you need to know it in advance so you aren’t hit with an unpleasant surprise down the line.
- Put late fee amounts on a post-it note: Give yourself a visual reminder of how much it costs you to be late so that you make your payments on time.
Escrow payment inclusion
In addition to your home loan, you’ll need to pay homeowner’s insurance costs and property taxes on the home. Some mortgage lenders include these expenses in your monthly payment so you don’t have to worry about them.
- Get your home appraised: Find out how much your property taxes are likely to be, then ask your mortgage lender if a specific amount can be included in your monthly payment.
- Open your own escrow account: If your mortgage lender does not take care of escrow for you, open your own account and put money aside each month so that you have the funds when the insurance and tax bills are due.
- Ask about fees: If your mortgage lender gives you a choice about how to handle escrow and related expenses, find out if there’s an extra fee for handling it yourself.
What are different types of mortgage companies?
Mortgage bankers make money by selling mortgage loans shortly after funding them. They often offer attractive rates since they make their money on re-selling the loans.
Mortgage brokers help people complete their loan application and find several lenders and loan programs that might fit their needs. The mortgage broker then works with the chosen to lender to assist as the loan gets processed.
Correspondent lenders act as agents for funding lenders. They do the paperwork, approve the loan and sell it to a funding lender with whom they have a business relationship. Since correspondent lenders work with a variety of funding lenders, they can often direct you to low interest loans.
Who's it for?
First-time home buyers
People who are ready to own a home for the first time usually depend on mortgage companies for funding. These people might qualify for special rates or for tax credits because they are buying their first home. A lender experienced with first-time home buyers should know about local homebuyer programs for down payment assistance.
Rental property companies
People who want to rent property out to others first have to buy the property. They pay the mortgage each month using their tenants’ rental payments; payments above the mortgage amount become profit.
Business owners, who want to own their premises rather than renting, may need to obtain a commercial mortgage. Commercial mortgages cover the cost of the property and may be considered a business expense for tax purposes.
Real estate investors
Some investors make money by buying houses and selling them for a profit. Sometimes, investors will “flip” a house by buying something that is not in good condition, renovating it to increase the value of the property and then selling it; other investors simply buy houses and sell them for more than they paid for them. Either way, investors often need to take out a mortgage when buying investment property.
NationStar Mortgage offers a variety of mortgage products to help consumers find the best mortgage match for their needs. Options include fixed-rate and adjustable loans, specialized loans for military members and luxury homebuyers and loans for refinancing.
- Best for Those who aren't sure what their options are and those who prefer to begin the loan process online.
Amerisave Mortgage offers all mortgage products, including VA/military, USDA and nonconforming mortgages. Consumers apply online for loans, and upon approval they can download the documents and mail them to the company.
- Mortgage rate alerts: The company provides a sign up form for specialized, emailed mortgage rate alerts.
- One-minute mortgage loan quotes: Consumers can fill out an online form with their information, such as their loan type and credit score that allows them to receive a rate quote in one minute.
- Preapproval: Amerisave provides pre-approval for homebuyers to make the search process easier.
- In-house operations: The company processes, underwrites, closes and funds all of its loans in-house to help ensure fair prices and smooth operations.
- Customer support: Consumers are able to fill out a form online and the next available agent will call them.
- Best for Those who need atypical loans and those who prefer the loan process through the mail or online.
Prospect Mortgage, backed by private equity firm Sterling Partners, is an independent residential retail lender. It offers traditional mortgage loans such as fixed-rate and adjustable rate mortgages as well as more unusual products, including super jumbo loans.
- Best for Consumers who have been denied by other mortgage loan companies or people who are renovating.
Jersey Mortgage Company offers mortgage loans in New Jersey, New York, Pennsylvania, Florida and Connecticut. The company provides customized loans instead of pre-made packages.
- Stands behind its loans: Jersey Mortgage processes its loans in one of its three New Jersey offices instead of outsourcing the work, and the company closes with its own funds.
- Informational guides: The company's website features guides for homebuyers, people who are refinancing and other useful topics.
- Simple to start: Consumers fill out a short form online to get a loan officer on their case, or meet at one of several branch locations.
- Employee tenure: The average employee stays more than 10 years, reflecting the company philosophy of a commitment to customer service.
- Assistance for first-time homebuyers: Jersey Mortgage helps people who haven't bought a home in the past three years get down payment assistance from the state of New Jersey.
- Best for People who need loan customization, those who want in-person attention and first-time homebuyers.
LendingTree is an online broker that allows personal and business consumers to request and compare customized loan offers from a network of more than 350 lenders, banks and credit partners. The company's lender network offers a wide range of financial products such as personal loans, business loans, auto loans, student loans, home loans, credit cards, refinance loans and more. LendingTree has won the Best in Industry award in the Financial Services: Website category at the 2013 New Media Award's Web Awards Competition.
- Best for Individuals looking to start a business, refinance debt, fund an expensive life event or pay for unexpected expenses.
Ocwen Loan Servicing was founded in 1988 and has over 10,000 employees and operations across the United States as well as in the U.S. Virgin Islands, India and the Philippines. They provide lending solutions for residential and commercial customers, including home loans, investment property loans and reverse mortgages.
- Best for Ocwen Lending Services is best for business owners and first time homebuyers, real estate investors will also benefit from Ocwen’s REO listings.
Caliber Home Loans emerged in 2013 after being in business as two separate entities, Caliber Funding and Vericrest Financial. They offer consumers assistance with home loans, home buying and refinancing.
- National support: Caliber Home Loans, Inc. has branches across the United States, so you can get help with your home loan from a local loan consultant who understands the market in your state.
- Range of loan products: Caliber Home Loans, Inc. has a range of loan products available for their customers, including FHA loans, Veteran loans, conventional loans and more.
- Resources for home buyers: There are a lot of steps involved in buying a home, and Caliber Home Loans, Inc. has step-by-step guides to help you navigate the processes of pre-qualifying, financing, paying for insurance and understanding closing costs.
- Send away for more information: Submit a short form on Caliber’s website to receive free information on their mortgage programs to help you make a decision about buying or refinancing your home.
- Quick and upfront mortgage approvals: Caliber Home Loans, Inc. offers consumers quick and upfront mortgage approvals, so you will know shortly after applying for a loan whether or not you qualify. This can help you plan for your home buying or home building.
- Fresh Start: Caliber’s Fresh Start program is designed to help homeowners who have previously experienced a foreclosure, bankruptcy or other credit setback to get a home loan ranging from $150,000 to $1 million.
- Best for Caliber Home Loans, Inc. is best for home buyers and home builders.
First Internet Bank is an online bank that offers a full line of banking services, including mortgages. It was established in 1999 and is headquartered in Indiana. The bank does not have any branch locations, but it operates in all 50 states.
- Best for Those comfortable doing all their banking online.
ClearPath Lending is a privately owned mortgage lender that offers options for homebuyers and homeowners looking to get a new mortgage or refinance their existing mortgage. They are based in Calif., and they are licensed to lend in 15 states across the country.
- Best for First-time homebuyers who need a mortgage and homeowners looking to refinance their current mortgage to save money on their monthly payments.
Network Capital Funding offers mortgage programs for first-time homeowners, experienced buyers and wealthy customers alike. It operates in many U.S. states, including California, Texas, Virginia, Illinois and Florida.
- Best for Residents of a state Network Capital serves, people who want to avoid fees, consumers who know their mortgage goals and people with good credit scores.
VARateLock.com is an Arizona based mortgage service that helps qualified former or active military borrowers find VA approved loans or home mortgages. The company seeks to match military customers with lenders who can assist with filling out mortgage applications and obtaining a home mortgage.
- Active or retired military: The company serves customers who are active military members or retired in the VA, so it is a good choice for anyone who formerly served or currently serves in the military.
- Approved network: VARateLock.com only works with lenders who are approved by the VA.
- Customer service: While the primary focus is with online service, the company also offers personalized customer service options through the telephone or a direct email connection.
- Simple online application: To find a loan, customers have to fill out their information on a straightforward online form, making the company's process simple and easy to initiate.
- MBA member: The company is certified as a member in good standing of the Mortgage Bankers Association, which means it is a reputable organization with knowledgeable staff and online assistants.
- Best for Current military members and former military members.
Founded in 2005, Guide To Lenders provides customers free mortgage quotes from a wide network of mortgage lenders. The company also offers valuable information and educational guides for customers about home financing.
- Huge lender network: The company has a network of over 150 lenders and it gives customers access to a large amount of potential mortgages from which to choose.
- Free credit score: Guide to Lenders offers customers who use their services free credit score reports during the process.
- Educational guides: The company has educational materials, on subjects including taking out a mortgage, a glossary of common mortgage terms and basic information about the process of taking out a home loan.
- Short quote process: After customers fill out a brief form, they quickly receive a selection of five mortgage quotes.
- Multiple contact avenues: Customers of the company who want to get in touch or need support can contact representatives through multiple avenues, including social media pages like Google Plus, Facebook, or by telephone or e-mail.
- Best for People planning to purchase a home and homeowners looking to refinance their home.
Information in this guide is general in nature and is intended for informational purposes only; it is not legal, health, investment or tax advice. ConsumerAffairs.com makes no representation as to the accuracy of the information provided and assumes no liability for any damages or loss arising from its use.
13 – 58 Mortgage Companies For You
21st Mortgage Corporation is a full service lending company that specializes in loans for manufactured homes. 21st Mortgage was founded in 1995 in Knoxville, TN, and they currently service more than 170,000 loans.
|Read 170 Reviews|
Homebridge Mortgage Bankers has over 90 branches across the U.S. Consumers can get a free quote and personalized loan comparison, whether they are purchasing or refinancing, by filling out a form on Homebridge’s website.
|Read 16 Reviews|
Network funding was created in 1998, with the purpose to create a network of mortgage companies that were driven by values. The company's standards are integrity, reliability and simplicity. They are also licensed in most states.
|Read 9 Reviews|
NewDay USA is a financial services company headquartered in Fulton, MD. The company specializes in servicing home loans for veterans and their families.
|Read 39 Reviews|
Chase Mortgage is a division of one of America's largest banking institutions, Chase. The company offers a range of mortgages, home loans, and associated home loan products.
|Read 1685 Reviews|
Everhome Mortgage Company is a mortgage company based in Jacksonville, FL. Everhome services more than 435,000 home loans in the US.
|Read 170 Reviews|
Provident Funding is a mortgage company that was founded in 1992. Headquartered in San Bruno, CA, Provident has over 50 offices throughout the United States, and they are the 8th largest lender of mortgages in the entire U.S.
|Read 117 Reviews|
As of September 1, 2011, Litton Loan Servicing LP operates as a subsidiary of Ocwen Loan Servicing, LLC
|Read 950 Reviews|
AmeriCredit is a mortgage broker focused on offer auto loans. AmeriCredit was purchased by General Motors in 2010, and it is now a part of GM Financial.
|Read 158 Reviews|
Central Mortgage Company is a broker that specializes in servicing residential mortgages. The company is a subsidiary of Arvest bank, and they serve western Arkansas, Oklahoma, Missouri and eastern Kansas.
|Read 66 Reviews|
HSBC is one America's largest banks, and it offers a large selection of mortgage products and services to customers. The company's American headquarters is New York, NY, while the corporation at large is headquartered in London.
|Read 405 Reviews|
Fannie Mae (short for the Federal National Mortgage Association) is a government-sponsored mortgage company was founded in 1938. Located in Washington, D.C., Fannie Mae is the most popular source of mortgages in the U.S.
|Read 95 Reviews|
Regions Mortgage was formed in 1971 and has since then helped helped their community with simple banking and expert advice.
|Read 33 Reviews|
Capital One is one of America's largest banks, and it offers home loans to customers interested in purchasing a home. The company has branch locations throughout New York, New Jersey, Texas, Louisiana, Maryland, and D.C.
|Read 83 Reviews|
BSI Financial Services was founded as Bank Services, Inc. in 1986. The company currently has seven different office locations in four states, and they are licensed to service loans for homeowners in all 50 U.S. states.
|Read 136 Reviews|
Guild Mortgage Company is a mortgage company that was founded in San Diego, CA in 1960. Guild currently has more than 250 office branches across the country, and they offer loan servicing in all 50 U.S. states.
|Read 59 Reviews|
Part of larger bank, Suntrust, SunTrust Mortgage offers customers a variety of home financing products and services. The company offers customers the ability to apply for a loan at a SunTrust office or online.
|Read 311 Reviews|
Wells Fargo Mortgage is one division of the larger bank, Wells Fargo. The company offers mortgages for those purchasing a home, refinancing, or looking for a line of home equity.
|Read 1101 Reviews|
Americas Servicing Company was a home loan company that was acquired by Wells Fargo. Wells Fargo now offers customers a range of home mortgage loan options.
|Read 100 Reviews|
Headquartered in Chicago, IL, Bayview Loan Servicing offers both residential home loans and small balance commercial mortgage loans. The company is a partner participant of the Making Home Affordable Program.
|Read 91 Reviews|
A member of the HSBC Group, Household Finance Corporation (HFC) operates in the United States, the United Kingdom and Canada. They offer consumers a variety of loan options, including real estate secured loans and home mortgages.
|Read 139 Reviews|
Green Tree services different types of loans including mortgages, refinancing, reverse mortgages, and home equity. They are a member of the Walter Investment Management group.
|Read 2314 Reviews|
Residential Credit Solutions is a home lending company based in Fort Worth, TX. The company serves all 50 states and Puerto Rico, and they offer a variety of lending options, including conventional mortgages and jumbo refinancing.
|Read 178 Reviews|
Vanderbilt Mortgage and Finance, Inc. offers consumers traditional home loan options, in addition to financing for modular homes and for eScore energy efficient home improvement. Use their online calculators to estimate payments.
|Read 228 Reviews|
Founded in 1990, NorthStar Mortgage Corp only provides financing to consumers in Massachusetts. The company can assist consumers with the pre-qualification process so they can determine which houses are in their budget.
|Read 21 Reviews|
Specialized Loan Servicing is a third-party mortgage servicer. They help homeowners manage their mortgages and offer services such as asset management, evictions management and REO marketing for investors.
|Read 204 Reviews|
CoreLogic SafeRent helps landlords find out critical information about the people they are renting to. Reports include information such as rental history, criminal background and other relevant details for landlords.
|Read 57 Reviews|
Coldwell Banker Mortgage is a full-service mortgage company, and customers can also work with a Coldwell Banker Real Estate agent. They offer a pre-approval process so customers know how much house they can afford.
|Read 19 Reviews|
Part of one of America's largest financial institutions, Bank of America Mortgages offers home buyers mortgage services and products. The company is headquartered in Charlotte, NC, and it was founded in 1930.
|Read 2628 Reviews|
A division of MidFirst Bank, Midland Mortgage allows homeowners to manage their mortgage online. Sign up for automatic payments, submit claims for property damage and get delinquency assistance through Midland’s online portal.
|Read 106 Reviews|
PNC Mortgage is a company dedicated to offering customers home lending options. Part of PNC Bank, the mortgage broker is based in the Pittsburgh, Pennsylvania metropolitan area.
|Read 193 Reviews|
Ditech is a mortgage company headquartered in Washington, Pennsylvania. Since 1995, their main concern has been to make certain their customers are comfortable with the lending process and find the correct loan.
|Read 463 Reviews|
PHH Mortgage is one of the top 10 leading residential mortgage companies in the United States. The company was founded in 1946 by Duane Peterson, Harley Howell and Richard Heather.
|Read 292 Reviews|
Citizens One Home Loans offers a variety of mortgage types, including FHA and VA loans as well as fixed and adjustable rate mortgages and jumbo mortgages. They also help borrowers with HARP and HAMP options.
|Read 37 Reviews|
CitiMortgage is a division of the large financial institution, CitiGroup. The company, based in New York, NY, offers a variety of home loan products for home buyers, and the company's loans are funded by affiliated bank, CitiBank.
|Read 933 Reviews|
Mortgage Lenders of America works with conventional loans and government loans, including FHA, VA and USDA loans. Their website offers loan comparison chart and mortgage calculators to help consumers understand their options.
First Meridian Mortgage operates in Maryland and Virginia as well as the District of Columbia. They offer Harp financing and FHA loans. They also offer VA loans, and the company is owned by a Marine Corp veteran.
1st Choice Mortgage can help Idaho homeowners apply for refinancing, FHA loans, home loans, VA loans and rural development loans. They are partnered with Idaho Housing to help Idaho residents finance their first home.
Based in Scottsdale, Arizona, VARateLock.com is an online service that allows customers to search for the best VA loan or mortgage. The company connects customers with lenders featuring the best mortgage deal for their needs.
|Read Expert Review|
Guide To Lenders is dedicated to helping customers find the best deal possible for their mortgage. Founded in 2005, the company affords access to competitive loan quotes from a large network of lenders.
|Read Expert Review|
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