There is a broad range of mortgage companies available to choose from. When deciding on one, there are many important factors to consider first. Two prime examples to consider are the location that they serve and the types of educational resources they offer. In our article, we’re going to cover 7 of the best mortgage companies currently available in the United States.
1) Wells Fargo
Wells Fargo is one of the largest mortgage companies located in the United States. For all of 2016, they had an estimated mortgage origination volume of $249 billion. One of the best things about this particular lender is that they originate mortgages in all 50 states and have a wide selection of physical offices to choose from.
For people who prefer to do a lot of their mortgage application steps online, you will enjoy the online tools that Wells Fargo offers. They have an online application process as well as a wide range of calculators and other useful resources for new prospective borrowers. As for mortgage programs, Wells Fargo originates a wide range of different loan types including FHA, VA, and standard prime mortgages.
2) Chase Mortgage
With an estimated $104 billion in originated mortgages in 2016, Chase Mortgage earns its spot as our number 2 pick on our list of best mortgage companies.The company works with customers all across the United States to help them find the best mortgage type for their needs.The majority of full-service banking centers in your area should have access to a mortgage broker. If you don’t already have a realtor, there’s a good chance the broker can recommend one for your area as well.
As for online tools, Chase offers a convenient online application process as well. They originate all of the major loan program types including specialized programs like VA and Rural Housing loans. They also offer full online account access once your mortgage has closed for easy management as well.
3) Quicken Loans
For the die-hard do-it-yourself types, Quicken Loans may be an excellent choice. This is a fully online mortgage company that prides itself on making the application process as quick and painless as it can. They are typically able to originate mortgages for all areas within the United States. Based on their dominance of the online mortgage market, it earned a spot on our top mortgage companies list.
Another nice thing about Quicken Loans is that they provide access to plenty of free educational material. From calculators to definitions of common financial terms, their online tools are a great resource for new home buyers. They also have an online chat system for more involved questions as well.
The only downside is that you will have to rely on electronic communication rather than face to face meetings with this mortgage provider. However, this generally speeds up the application time significantly for many applicants.
4) Bank of America
A branch of one of the largest banks in the United States the mortgage department at Bank of America is another one of the best mortgage companies out there. With an estimated $79.4 billion in mortgages originated in 2016, they have worked with customers all across the United States to meet their home buying needs.
One of the nicest things we like about Bank of America is that they prominently display their current prime mortgage rates on the home screen. This makes it easy to quickly check out the prevailing rates. As for online tools, Bank of America offers a prequalification process online. This tool allows users to print their prequalification letter from home. They also have online chat access for basic questions as well.
5) U.S. Bank
U.S. Bank is another option that earned its spot on our list of the top mortgage companies. Similar to Bank of America, they display all of the current prevailing rates right on the homepage with no digging required. As for mortgage types, U.S. Bank offers a wide selection of financial products to meet the needs of their clients.
As far as online tools go, U.S. Bank offers 2 basic calculators to help you estimate your mortgage payment amount as well as the amount of home you can likely afford. In addition, they also offer full online account access for funded accounts. This makes managing your mortgage payments and viewing your mortgage statements much easier than typical paper methods.
6) Freedom Mortgage
Another one of the best mortgage companies to consider checking out is Freedom Mortgage. With offices located all across the United States, you shouldn’t have any problems finding a mortgage professional for your area. In addition to their multiple office locations, Freedom Mortgage offers a broad range of loan types.
The most common loans they originate include FHA, prime, VA, and Rural Housing. In addition, they also offer specialty loans like new home construction and more. The only downside is that Freedom Mortgage doesn’t offer much in the way of an online application. However, they do offer a detailed walk-through of what to expect throughout the mortgage origination process.
7) Caliber Home Loans
Based in Texas and established in 2013, Caliber Home Loans is another nationwide lender that earned a spot on our top mortgage companies list. For 2016, they issued an estimated $40.6 billion in mortgages all across the United States. Caliber Home Loans originates a wide range of mortgage types including popular programs like FHA and VA loans.
In addition to the selection of mortgage types they offer, they also have plenty of online tools. From mortgage calculators to information about insurance requirements, the online information they provide is very useful to new home buyers. They also offer full online account access for simple management of your account once your loan has closed.
All 7 of the mortgage companies on our list are excellent options to consider. They are fully licensed and have established trust in the communities that they serve. In addition, they offer a broad selection of mortgage types and online tools. Take your time browsing our list to pick the best mortgage company for your unique needs. If there is a company you feel deserves to be mentioned, tell us about it in the comments area.