Best Mortgage Lenders of 2024

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Who are the best mortgage lenders for 2024? A house is probably one of the biggest assets a person can own. As such, you should always consider the best mortgage lenders whenever you want to apply for a home loan. In the meantime, a mortgage is a contract between you and a lender that gives the lender the right to repossess your home if you fail to repay the loan plus interest.

Best Mortgage Lenders of 2024

You can also make use of your mortgage loan to purchase a new home or refinance your existing home. Before shopping for a mortgage online, searching for the best lender is imperative, as this will enable you to make the right decision.

With so many mortgage lenders, searching for the best lender can be daunting and even time-consuming. This is because not all mortgage lenders are created equally. Some lenders’ application processes are so easy and can be completed online while others are time-consuming.

In addition, interest rates, requirements, approval time, and loans may differ. That is why it is important to shop for at least three of the best mortgage lenders and compare rates before deciding on the right lender to use. You can check out the next outline for some of the best mortgage lenders for 2024.

5 Best Mortgage Lenders For 2024

In this section of the article, we will be discussing the top five best mortgage lenders for 2024. After careful research, our top five best mortgage lenders are Rocket Mortgage, Chase Bank, Bank of America, CMG Financial, and Navy Federal. You can check out the write-up below for a short overview of the earlier listed mortgage lenders.

Rocket Mortgage

Formerly known as Quicken Loans, Rocket Mortgage is currently one of the largest and best mortgage lenders in the United States of America. The company offers mortgage loans such as Jumbo, Fixed, Adjustable, FHA, VA, and Refinance Loans. 

It has more than a million customers from across all 50 states in the US. Based on customer reviews, Rocket Mortgage offers amazing and top-notch customer service, making it possible for users to have the best mortgage experience.

However, to apply for loans, you will need a credit score of 558 or above. You will also need credentials and documents such as your income and employment documents (you must be a permanent citizen of the U.S.), bank account details, an active email address, and other required documents.

Depending on your loan, you can get a term length of about 15 to 30 years. You will, however, need to make a down payment of 3% to get a loan for the company. Nonetheless, the process of applying for a loan is easy and stress-free. Plus, top experts are ready to guide you through the process.

Chase Bank

Chase Bank is a popular and well-known financial institution offering a wide range of services and products such as credit cards, banking, planning and investment, auto loans, and Chase Private Client. They also offer mortgage loans to intending homeowners. You can get a mortgage loan from Chase Bank to purchase your dream home, and there are several options.

Some of their loan options include conventional loans, FHA loans, VA loans, Jumbo loans, and many more. You will need a credit score of about 620 or above to qualify for a loan. You will also need to make a down payment of about 3%.

However, you can get a loan term of 10 to 30 years depending on the type of mortgage you are applying for. You can apply for loans via the company’s official website. To make the process easier and simpler, Chase Bank provides its customers with resources and tools such as online customer support, mortgage calculators, and educational write-ups.

Bank of America

Bank of America is another well-known financial institution with a wide range of services and products ranging from checking and savings to auto loans, small business funding, and student banking. In addition, Bank of America offers home loans to enable customers to achieve their dream of becoming homeowners.

Their home loans include jumbo, refinance, fixed, adjustable, FHA, and VA loans. Bank of America offers the most competitive loans with a fair interest rate. You can even enjoy amazing discounts as a former Bank of America customer.

However, you will need a credit score of 620 or above to apply for a mortgage loan with BOFA. In addition, a down payment of 3% must be made to access your loan. You can apply for and pre-qualify for a BOFA Loan online by visiting their official website. You can also use their online calculators and mobile app to track and manage your mortgage anytime and any day.

CMG Financial

CMG Financial is another top-rated mortgage lender offering various mortgage loans such as conventional fixed 30 years, 15 years, FHA, VA, USDA, Jumbo, and more. It is one of the best lenders for first-time home buyers due to its simple and easy application process.

You can access their services and products via their official website, or you can download and install their mobile app to manage your account. In addition, CMG Financial offers two programs, including a crowdfunded down payment program known as Home Fund, which provides you with $2,000 towards closing costs.

Freddie Mac’s BorrowSmart Program offers customers access to $2,500 towards a down payment. The downside of using this company is the fact that its services and products aren’t available in all states. There are no interest rates shown on their official website. But, it is a great company to check out.

Navy Federal

As the name implies, Navy Federal is a great lender for military officials searching for the best mortgage lenders to shop from. Some of their loans include conventional fixed 30 years, 15 years, jumbo fixed 30 years, VA, Military Choice Jumbo 30, and more.

Unlike other lenders, you don’t need to make any down payment to apply for a loan from this company. You can apply for a loan with Navy Federal via their official website and also upload your documents online. In addition, you can get cash back of about $9,000 when you work with a real and reliable estate agent selected for you.

You will also get to enjoy other amazing and top benefits from the company. However, you will need a credit score of 660 to get a mortgage loan from Navy Federal. It should be noted that their loans are available to active-duty military members, veterans, retirees, reservists, and annuitants.