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Sunday, May 22nd
You won't find another online lender that can match Better for home loans. This service is completely transparent with rates and fees, gives you plenty to choose from in loan types and terms, and provides exceptional customer service from prequalifying to closing and beyond. Thousands of happy homeowners say that Better deserves a perfect score for offering a streamlined mortgage process with interest rates that are much lower than average - and with no commissions or lender fees. Better earns our highest recommendation among providers of home loans.
When BB&T and SunTrust merged, they became Truist, with 2700 branch locations in 15 states and Washington DC. Their website is easy to use, but not very informative when it comes to home loans: unless you're ready to jump right into an application, getting prequalified leaves you waiting for a Truist mortgage professional to reach out. Thousands of people say that the service here has gotten horrible since the merger, and unless you already have a satisfactory relationship with this bank, you're probably not going to be impressed with their home loan service.
Your first thought might be to visit your local bank or broker, but think again. Why? You're not likely to get the very best rates and terms there. True, you might get a promo or slightly lower interest rate for being a current customer, but will your financial institution shop around to find you the ideal loan for your situation?
More than likely, they'll fit you with whichever mortgage is convenient (or profitable) instead of working to get you a home loan with the best possible terms. With interest rates constantly fluctuating, it's never a bad time to start looking into your financing options if homeownership is your goal. Even if you're just curious to see how much you can ultimately afford when the time comes, that will help you start budgeting and saving to have enough to secure your new home when you're ready.
Some mortgage terms stipulate that the funds can't come from a last-minute gift or contribution from a well-meaning family member, so plan ahead!
The easiest way to know how much you can borrow is by shopping for a home loan online. While some lenders require you to enter your personal information to show you their rates, others post sample rates online or let you choose your credit score range and other details to preview a more personalized quote. Be mindful that there's a difference between a "soft pull" on your credit - usually used to prequalify you, and only uses your address and phone number to verify your identity - and a "hard pull" that will impact your credit history.
The latter usually happens only when you've got a home under contract and you're ready to secure a mortgage, but pay attention to the fine print when you're checking out a lender's rates. You don't want to be "just browsing" and find out that your credit score took a nosedive with an unintentional hard inquiry on your report!
With many lenders interested in your business, how can you decide which one to use for your mortgage? Here are a few factors to look at before you complete a loan application:
To help you finance the home of your dreams, TopConsumerReviews.com has evaluated and ranked today's most popular mortgage lenders. We're confident that this information will be useful on your journey to home ownership. Congratulations!
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