Online mortgages have become increasingly popular as technology has advanced, making the process of applying for a mortgage more streamlined and convenient. However, not all online mortgage lenders are created equal, and it’s important to choose a lender that best fits your specific needs. To help you make an informed decision, here are some of the best online mortgage lenders to consider.
Ally is an online bank that offers quick preapprovals and fast closing times, making it ideal for those buying a home in a competitive market. They can help you act fast and secure your dream home before other buyers. Additionally, Ally does not charge lender-side fees, making it a cost-effective option.
Rocket Mortgage is known for its exceptional customer service. They offer phone assistance from 7 a.m. to 7 p.m. on weekdays and live chat assistance seven days a week. Rocket Mortgage also has a wide network of loan officers and offers a variety of mortgage options.
PNC Bank offers a hybrid experience that combines online and in-person or over-the-phone steps. They provide online preapproval within minutes and have a helpful tool called Home Insight that guides borrowers through the homebuying process.
Better.com stands out for its no-fee approach, charging no origination or underwriting fees on their mortgages. They also offer lower interest rates than the national average and have received positive customer reviews.
Guaranteed Rate offers the widest selection of mortgage loan types, including conventional, FHA, VA, and jumbo loans. They also provide home equity lines of credit (HELOCs) and reverse mortgages, giving borrowers a range of options to choose from.
NBKC Bank is another lender that offers low fees. They take a flat-fee approach, charging just $250 for all lender-side services. NBKC offers conventional, FHA, VA, and new construction loans.
New American Funding is a good option for non-traditional borrowers, such as self-employed individuals or those with non-traditional income. They offer flexible loan programs and various options for large loan amounts, renovating fixer-uppers, building a home, and creating an accessory dwelling unit on an existing property.
LoanDepot’s Mello Smartloan platform streamlines the mortgage application process by allowing borrowers to connect their application directly to employment portals, bank accounts, and more. This saves time and reduces hassle.
Flagstar Bank provides a wide variety of loan options, including specialized loans for professionals, specific locations, and multiple properties. They also have readily available customer service and are available in all 50 states.
When applying for a mortgage, it’s important to consider your specific needs and preferences. Whether you prioritize fast preapprovals, excellent customer service, low fees, or a wide selection of loans, there is an online mortgage lender out there for you. Make sure to research and compare lenders to find the best fit for your unique situation.