If you’ve been considering purchasing your own home, you need to learn about the various mortgage options available in the financial market. But there are many different home loan options available in the current market, and it can be challenging to choose the best loan provider among all of them. To help you make an informed decision, we’ve listed below some of the most popular ones that are used by real estate buyers.
Chase
Chase is one of the top mortgage lenders, thanks to its range of loan programs, competitive interest rates, and relatively quick closing times. The bank offers a wide range of mortgages, including fixed-rate loans, adjustable-rate products, and jumbo loans (loans exceeding $417,000 in price). Chase also provides a home equity line of credit (HELOC) for people who want to borrow against the equity in their homes. The bank has a branch office network that includes more than 5,100 branches across the U.S., making it easy for customers to get face-to-face service from local experts.
Flagstar Bank
Flagstar Bank is a leading lender that offers all the major home loan options, including jumbo, conventional, construction, and government-backed loans. These loans are offered through its branch locations in Michigan, Indiana, Ohio, and Wisconsin, as well as online. The lender also has pretty low credit score requirements for a few of its loans, making it a top choice for first-time home buyers. Flagstar Bank offers customers a number of discount programs. The preapproval time for home loans is usually less than 3 days; the average home loan closing time is 35 days.
Mr. Cooper
Mr. Cooper is one of the biggest non-bank home loan lenders in the United States. Headquartered in Dallas, the lender operates in all 50 states, offering all the standard home loan options: VA, FHA, jumbo, and conventional loans. Mr. Cooper also offers customers a state-of-the-art digital experience once the loan is approved. The lender’s Home Intelligence mobile app, for instance, allows borrowers to manage not only their mortgage but also their financial well-being. The app also gives customers a quick insight into neighborhood trends, their home value, and other important details.
