WHERE TO FIND THE BEST HOME LOAN DEALS IN THE USA 

 WHERE TO FIND THE BEST HOME LOAN DEALS IN THE USA 

Finding a financial institution to obtain a mortgage loan in the USA is no easy task. Minimum credit scores, competitive rates, a variety of loans, affordability, special programs for first-time buyers... it's enough to make you lose your way!

Every borrower has a different financial profile and loan objectives. Investir US offers you a list of institutions to consider for obtaining a mortgage 

Better.com

100% digital, Better.com is a convenient solution for obtaining a loan. Regardless of where you apply, your application can be tracked from start to finish via a simple internet connection. In addition, this site offers relatively short pre-approval times, with the promise of a quote and pre-approval in as little as 20 minutes. The platform also automatically searches for discounts you may be eligible for, without any additional effort or cost on the part of the applicant.

At Better.com, there are no fees or commissions for the lender. A model that, according to the site, allows you to save 1% on the loan amount.

Today, Better.com is available in most U.S. states except Hawaii, Massachusetts, Minnesota, Nevada, New Hampshire, Vermont, and Virginia.

Flagstar Bank

This organization offers all major mortgage loan options, from conventional loans to government-backed loans and the famous "jumbo loans." Transactions are conducted online, as well as at Flagstar Bank branches in Indiana, Michigan, Ohio, and Wisconsin.

This lender is known for its low minimum credit score requirements for some loans, giving hope to new borrowers and those whose credit has been affected in some way in the past.

Flagstar Bank's lending solutions are backed by renowned investors, including Fannie Mae, Freddie Mac, and Ginnie Mae.

Guaranteed Rate

If you're looking for home loans in the U.S. and rely on affordable fees and competitive interest rates, Guaranteed Rate offers just that, with rates that, in 2021, are just below the national average. Pre-approval takes 24 to 48 hours, and online pre-qualification takes only about 15 minutes.

Additionally, the minimum credit score for some loans (VA and FHA) is lower than average, which also makes it easier for first-time buyers and those with no credit history to qualify for a loan.

PenFed Credit Union

At 86 years old, PenFed Credit Union stands out as one of the largest member-owned credit unions in the United States. To join, simply open a savings account and fund it so that there is always $5 in it. This is not a "dues" but rather the member's share of ownership, and the requirement is the same for all members.

PenFed Credit Union is located in all 50 states, and it's also possible to apply for a loan online. As a result, borrowers don't have to pay any fees. The only fees borrowers are responsible for are the appraisal, title, credit report, and any other services required to process the mortgage.

PNC Bank

PNC Bank operates in all 50 states and offers a wide range of mortgage products, including specialized loans for low- and moderate-income borrowers.

PNC also has a presence online, through a platform focused on innovation: Home Insight. This platform offers an immersive experience of the homebuying process. Applicants can calculate their repayment amounts and then begin searching for properties based on real-time quotes for rates and other loan products.

Customers who apply for a loan online can track the approval process and upload supporting documents at their convenience. Customers can also invite real estate agents to participate in the process to monitor progress.

On the PNC Bank platform, the pre-approval application is entirely paperless, saving considerable time for future borrowers.

Ally

Ally offers competitive rates for basic home loans. For example, Jumbo Loan borrowers are required to put down a 10% down payment, with no private mortgage insurance required. First-time buyers, on the other hand, can take advantage of Fannie Mae's HomeReady loan, with a 3% down payment.

Pre-approval, in the form of a downloadable letter, is completed in 3 minutes; a record time in the ultra-competitive US mortgage market.

With online process progress and 24/7 file uploads, Ally's digital platform allows clients to log in at any time of day or night and track their case, no matter where they are in the world. Much of the work can therefore be done remotely.

Loan Depot

LoanDepot is one of the leading lenders in the United States. The company operates through 150 branches nationwide and has a strong online presence. Its home loan products include conventional loans, government-backed loans, and refinancing.

Behind Loan Depot's online offering is Mello Smartloan technology, which reduces closing times by 17 days thanks to reduced administrative tasks and online verification of the borrower's assets, income, and debts. Mello Smartloan can also digitally verify the property's title—a step that typically takes time. The technology also determines whether certain borrowers can waive the appraisal requirement: this saves time and money!

Quicken Loans

A leading mortgage lender in the United States, Quicken Loans offers a 100% digital experience. Customer service is available during flexible hours, allowing borrowers to contact the company at their convenience, day or night.

Americans know Quicken Loans for their competitive rates; this is a selling point widely promoted by the lender, and their average interest rates currently sit above the national average. In 2020, Quicken Loans was ranked the best mortgage service by consumers, a title they have achieved for the seventh consecutive year (source: JD Power annual survey).

Bank of America

Bank of America is a major home lender. It offers mortgage and refinancing products, as well as comprehensive banking services. Across the United States, Bank of America has more than 5,000 branches, in addition to an online presence (Bank of America Digital Mortgage Experience). On the latter, customers can complete their applications online. The platform offers electronic document signing and online rate locks. Borrowers can also connect with an advisor online.

Bank of America offers lower-than-average rates, and applications can be completed in person or online. The Affordable Loan Solution mortgage requires a 3% down payment and does not require private mortgage insurance. This offer saves borrowers several hundred dollars per month.

Guild Mortgage

Guild Mortgage offers both in-person and online mortgage lending services. The company has offices in 31 U.S. states, allowing borrowers who prefer to deal with an in-person client to visit a branch. Conversely, borrowers in 48 states (excluding New York and New Jersey) can apply online through the dedicated platform, MyMortgage.

Those with poor credit scores find Guild Mortgage an excellent option, as the lender's down payment requirement is minimal (about 20 points lower than the average lender's). Applying for a mortgage with Guild Mortgage is relatively quick and easy, making it an excellent choice for borrowers in a hurry.

Mr. Cooper

Mr. Cooper is one of the largest mortgage lenders in the United States. Based in Dallas, the company operates in all 50 states and offers all types of basic mortgages. For borrowers with a low credit score, at 580 points, Mr. Cooper is an excellent solution.

Cooper also offers its customers an enhanced digital experience after their loan is approved. The customer dashboard, in particular, is highly valued by borrowers. Additionally, the Home Intelligence mobile app helps customers manage their mortgage and their broader financial well-being. The app gives customers insight into their home's value, neighborhood trends, and the current status of their home equity.

Another of Mr. Cooper's proprietary technologies is the Digital Loan Tracker, which aims to simplify the mortgage loan experience, making it more useful and affordable. The tracking system allows customers to track the progress of their application in real time, as well as a unified system for seamlessly submitting documents.