The Best Home Loan Providers

Saturday, April 26th

2025 Home Loan Provider Reviews

Rocket Mortgage

• Wide range of loans including conventional, jumbo, FHA/VA, and proprietary options for lower-income applicants
• Prequalification options available
• Savings and cash back available if you work with a partner real estate agent
• Choose the time and place for closing
• Committed to community service
• In business for over 35 years
• "A+” rated and accredited by the BBB

If you like the expertise and peace of mind that come from working with America's largest provider of home loans, look no further than Rocket Mortgage. In business since 1985 and formerly known as Quicken Loans, the company is dedicated to helping customers get the mortgage that fits their specific goals, allowing them to apply online with no hassles and to even set the time and place for closing.

Unparalleled range of home loan options

Rocket Mortgage has the widest range of loan options out of any lender we've found. Some of them are familiar, like conventional 15- and 30-year fixed or adjustable-rate mortgages for 5, 7, or 10 years, plus jumbo loans if you're looking to finance at least $766,550. However, this home loan company goes way beyond the traditional mortgage industry to offer options like these:

• FHA Loans: good for people with lower credit profiles; only 3.5% required as a down payment
• VA Loans: benefits for those who served in the military; down payment can be as low as 0%
• ONE+: you pay a 1% down payment and Rocket Mortgage covers an additional 2%. Available for home buyers whose qualifying income is less than or equal to 80% of the area's median income
• HomeReady and Home Possible: a down payment of just 3% and lower-than-average PMI (mortgage insurance) if you meet income eligibility and credit/debt requirements (like a minimum credit score over 620)
• BorrowSmart Access: get a $3,000 credit towards the down payment if you're a first-time home buyer within certain metro areas (like Atlanta, Chicago, Detroit, Houston, Memphis, Philadelphia, and more) and you meet certain income requirements, plus you complete a Homebuyer Education Course
• Purchase Plus: also offered within certain metro areas, you put 3% down and get a closing cost grant of up to $7,500
• Native American home loans: available for properties held in fee simple

Get a look at today's rates

We're also huge fans of Rocket Mortgage's transparency with rates and points. It's all right at your fingertips through the Mortgage Rates link at the top of the site. If you'd like an estimate of your specific rates, Rocket will ask you about the zip code where you're looking to buy, and they'll even tell you the median home prices for that area. You'll still be asked for your phone number, like most of the home loan websites we evaluated, but we're huge fans of Rocket Mortgage not forcing you to consent to ongoing texts just to get an idea of interest rates. (On the other hand, we were chagrined to NOT be taken to a rates page at the end, but rather to be handed over to a loan officer and contacted immediately via phone call. Just give us our specific rate estimate, please!)

Use a partner real estate agent for big savings

If you're willing to work with one of Rocket Mortgage's partner real estate agents, there are a lot of savings on offer. Scroll down to the bottom of the site to read all of the requirements, but as an example, if you buy a home through one of their partner agents, you'll get a lender-paid credit on your closing that's 1.25% of your loan amount. And, if you're selling a home to buy your new one, you can get a rebate of up to 0.5% of the final sale price. That definitely makes it worth at least a look at Rocket Mortgage, right?!

Admirable contributions to the community

Rocket Mortgage is also a lender you can feel good about. The company has donated over $230M to community organizations, given over a million hours in volunteer work, and housed over 8,000 unhoused individuals in a single year. Rocket Mortgage is committed to not just helping people buy homes, but also to ending homelessness, preventing people from being displaced from homes they currently own, and helping communities build wealth through homeownership (as you can see in some of their unique home loan options too).

30,000+ 5 star reviews, despite some complaints

The Better Business Bureau has given Rocket Mortgage a flawless "A+” grade and accreditation. We're also happy to report that the rate of complaints has gone down over the last three years, with 915 filed over that whole timeframe but only 188 in the last 12 months. On the other hand, we were surprised to see that over 1,000 people took the time to leave a review (instead of a complaint) and that Rocket Mortgage averaged a pretty dismal 1.83 stars out of 5. Then again, on Trustpilot, the company has gotten a close-to-perfect average of 4.7 out of 5 stars across more than 33,000 reviews. When you do the math and you compare the positive vs. the negative comments, Rocket Mortgage is definitely on the plus side - and, like any home loan provider, there are always going to be times where a specific loan officer drops the ball or something goes wrong. The good news is that we found ample evidence that the company responds quickly and does everything possible to make things right.

#1 pick for your home loan

Rocket Mortgage ranks at the top of our list with a 5-star rating. We absolutely love their commitment to helping home buyers get the perfect mortgage for their needs, including so many options for lower down payments and grants that can help reduce overall closing fees. And, it's hard not to love a home loan company that does so much work to serve local communities. We're willing to assume that those negative reviews are just a drop in the bucket when you look at the overall picture of Rocket Mortgage, which is why we encourage you to make them your first stop when deciding which lender to use for your home loan.

New American Funding

• Offers 15- and 30-year fixed, FHA, and VA home loans
• Over $70 billion in mortgages funded
• Competitive rates
• 5-year rate protection plan
• On-time closing guarantee
• All-cash offers made possible via NAF Cash
• Hundreds of thousands of 5-star reviews
• In business for 25+ years
• "A” rated and accredited by the BBB

New American Funding (NAF) is one of the largest privately-owned direct mortgage lenders in the US, with headquarters in California and over 230 locations nationwide. They've been funding home loans for over 25 years, with more than $70 billion in mortgages and a special focus on helping expand homeownership opportunities for Hispanic, Black, and military communities.

Check out current rates online

It's really easy to see the most current home loan rates right on the NAF website. New American Funding offers 15- and 30-year fixed loans, as well as FHA and VA mortgages. The rates we saw were very competitive and would definitely be enough to get us to click to learn more.

5-year rate protection

Also, NAF has some really compelling perks. First on the list is the 5-year Rate Protection Pledge. If you're in a market where you're worried that interest rates are at a peak and are going to drop after you buy your home, this is a huge benefit: NAF will cover the cost of a new appraisal (up to $500) and all lender fees on a refi within 5 years. You'll need to have made at least 6 payments on the original loan, and third-party charges will still apply, but what a great perk to offer nervous buyers in an inflated market.

Guaranteed to close on time

Another benefit is the on-time closing guarantee. You'll have to meet a long list of criteria to be eligible, and we couldn't find where New American Funding spells out the "and if not?” part, but we're glad they're committed to getting things done on time.

Win the bidding war with an all-cash offer

Finally, NAF is still making it possible for buyers to go in with an all-cash offer. That's a huge plus if you're trying to buy a home with a quick closing date or you're in an offer war with other prospective buyers. You'll have to take a few extra steps through the NAF Cash site: they purchase the home on your behalf, and then you buy the home "back” with a New American Funding mortgage. This also lets you move into your new home even before you sell the old one, and that could take some weight off your shoulders too.

Nothing noteworthy about the application process

So, let's jump into the process of getting a home loan through NAF. Expect the usual questions about the type of property you're buying, how soon you need to close (or if you're just researching options), whether or not you've had any bankruptcies or late mortgage payments in the last 12 months, and so on. We appreciate that New American Funding promises not to sell your email address or phone number (especially given how some of the home loan options on our list resulted in our getting tons of spam); however, we did notice in the small print at the bottom that providing our information was our consent for NAF partners in related industries to reach out. (Darn it... ) We will say we didn't get a flood of texts and emails, though - just the customary ones any home loan provider would send out initially to make contact.

Double-check on when they pull your credit

Once our account was created, we were assigned a loan consultant and given his phone number and contact info. We clicked on the Get Started button and were a little concerned when we saw "application progress (purchase)” at the top of the page, when we had indicated we were just researching. NAF is going to ask you a LOT more questions at the outset than you'll see with other home loan companies; we would recommend that you touch base with your loan officer before completing the full online forms, since it's hard to tell at what point it goes from being a "just curious” inquiry to a full, hard-credit-pull application.

Over 300,000 5-star reviews

We're not super-concerned, though. New American Funding has a terrific track record with the Better Business Bureau: accreditation and an "A” grade. There were only 150 complaints filed with the BBB regarding NAF in the last three years; in contrast, over 600 people left reviews on the BBB site that averaged an impressive 4.19 stars out of 5. But that's not where the good news ends, fortunately: Across a whopping 356,000+ reviews, New American Funding comes in with an average of a near-perfect 4.87 stars. Do the math and you'll see that translates into hundreds of thousands of 5-star reviews. From home buyers to title company employees and everyone in between, people praise the NAF home loan experience. Individual loan officers get shout-outs for going above and beyond, being extremely attentive, and for making the process go smoothly. Here's one of our favorite comments: "It was a dream team that helped us from NAF. Only with them, we were able to stay competitive against cash offers in this crazy market.”

Fantastic choice for your home loan

Although New American Funding has a few small downsides - like not offering ARM or jumbo home loans - we've moved them up in our ratings. It's hard to argue with top marks from happy customers in the hundreds of thousands. This lender really does go to great lengths to help people get into the homes they want, from making it possible to go in with a cash offer to alleviating worries during high-interest-rate times in the economy. We're excited to recommend NAF as one of our preferred choices among providers of home loans.

loanDepot

• Offers 10- to 30-year fixed rate and 3- to 10-year adjustable rate home loans
• Over $96 billion in home loans and $179 billion in refinanced mortgages
• "Lifetime Guarantee” on future refis
• Over 200 locations nationwide
• In business for over a decade
• "A+” rated and accredited by the BBB

loanDepot is a mortgage specialist, founded in 2010 with the sole purpose of creating a straightforward home loan experience. The company is one of the largest retail mortgage lenders in the nation (usually ranking in the top 5) and has funded over $275 billion in purchase and refinance home loans.

Promises a peek at rates but doesn't deliver

loanDepot specializes in conventional mortgages. You can choose fixed-rate home loans with terms of 10, 15, 20, or 30 years, as well as adjustable-rate options of 3, 5, 7, or 10 years. You can easily take a peek at the most current rates right on the loanDepot site... in theory, anyway. When we clicked on the link to look at the nation's most popular home loan, the 30-year fixed, it took us to a page that described everything about that home loan, but it stopped short of showing any numbers. Weird. That happened for every loan type, so in other words, loanDepot doesn't actually show you any interest rates or monthly payment estimates upfront.

All the usual questions

But, let's say you're ready to jump in and see what loanDepot can do for you. You'll have to indicate if you've been referred to one of their loan officers previously, the zip code where you're looking to buy a property and the approximate purchase price, how much you plan on putting down, your credit score range, and your contact information (which loanDepot promises never to sell). You'll have to verify your phone number via text, so don't give them a fake one. From there, you'll answer some of the usual questions about your intended property and down payment, plus additional ones about your marital status and whether you plan on including a co-borrower, what you're currently paying for homeowner's insurance and HOA fees (if any).

You'll be asked for your full SSN

loanDepot will then ask you for your full social security number and date of birth, plus your authorization for them to obtain your personal credit report. They say that it will be strictly for a pre-qualification of credit and, as a soft pull inquiry, it won't affect your credit score. But, because we saw a few comments from people who said that they had an unexpected hard pull on their credit at this point, we didn't want to enter ours to give it a try.

No lender fees on future refis

One perk loanDepot offers that most home loan providers don't is a "Lifetime Guarantee” on future refinancing. If you use loanDepot for your mortgage initially, they'll waive all lender fees if you go for a refi with them later. According to their statistics, with most homeowners refinancing their mortgage every 7 years, you could potentially be looking to refinance up to 4 times over a traditional 30-year home loan. Just make sure you meet the basic eligibility requirements explained on the website.

No steering allowed

We continue to be appreciative of loanDepot's "No Steering” policy. At least one of the home loan providers on our list doesn't offer that; in fact, that competitor explains in their T&C that the loans they show prospective borrowers might be presented in the order that they'll be of most benefit to the lender. Not good. loanDepot reassures you that you'll be guided to the mortgages that are the right fit for your needs, not theirs.

"A+” and accreditation from the BBB

loanDepot has a reputation as a home loan provider you can trust. The Better Business Bureau continues to offer an "A+” rating and accreditation for the company, and there were only 160 complaints filed in the most recent one-year period. Additionally, almost 2,500 people went to the BBB to leave compliments for loanDepot, for everything ranging from fast and accurate processing of applications to naming specific loan officers who were particularly helpful.

Your results may vary

Outside of the BBB, the feedback is a little more mixed. When we looked at customer ratings left in other places and at reviews from financial bloggers and such, loanDepot averaged anywhere from 1.6-4.8 stars - that's quite a spread. Several home buyers had problems with the paperwork part of the loan application, saying that they were repeatedly asked to submit documents that had already been turned in multiple times. Other people complained about pushy or rude loan officers trying to close the deal, and one person said that they had a hard pull on their credit even when they told the loan officer that they weren't ready to proceed.

Still a good-enough option for your mortgage

For all of those reasons, we've dropped loanDepot a bit in our ratings. There are plenty of borrowers who wind up loving the mortgage experience here, but we're not thrilled with some of the recent complaints we've read. loanDepot is still better than some home loan companies out there, but the ones that are ranked higher on our list are doing a better job of delivering excellent customer service consistently.

LendingTree

• Compare loan offers among multiple lenders
• Down payments as low as 3%
• Easy to compare options
• Easy to see lender ratings from previous home buyers
• Home buying concierge available via NewZip, comes with a 0.5% cash back offer at closing
• In business for over 25 years
• "A+” rated and accredited by the BBB

LendingTree considers itself to be a loan marketplace, letting everyday people shop around for the best rates and terms on loans and other credit-based products. Over the last 25+ years, the company has connected borrowers with lenders on over 65 million loan requests, with a network of more than 500 lenders.

Great for home buyers at any stage of the process

LendingTree will start out by asking where you are in the process of buying a home, from just looking and researching to ready to make an offer or even already under contract. We appreciate that LendingTree gives you the choice between getting pre-qualified (to find out how much you can afford to borrow) and pre-approved (which is more competitive when you're ready to make an offer). You can also say you're not sure yet, and LendingTree will still let you move forward.

Want a free credit report while you're at it?

Next, answer all of the usual questions: do you already have a home picked out? What city and state are you looking to buy in? What's your annual income? In what range is your credit score? One thing you'll be asked here that you won't necessarily see elsewhere is if you'd like to receive your free credit report.

Detailed information, including lender reviews

Assuming you've entered all of your info correctly and LendingTree is able to do a soft pull on your credit, you'll be given a list of personalized home loan quotes. (We'll also point out that to do so, you'll have to put in your phone number - and we got a call we didn't necessarily want within a minute of submitting our details.) What you'll appreciate about your list of possible lenders is the detail and transparency. LendingTree shows you the lenders' rating averages from other users of their website, spells out pros and cons for each lender, shows you the current best quote, and highlights some of the best features like "great customer service” or "online portal access”.

How does that help?

That's useful because there are many smaller financial institutions who might be willing to offer you a great rate on a home loan; if you don't know who they are, you can lean into what other borrowers have to say about the experience. For example, Crosscountry Mortgage was new to us, but they had a near-perfect average across 125 ratings at the time of our review, while a better-known lender like loanDepot (who you'll find reviewed separately here) had over 7,300 ratings but a lower average of just 4.1 stars.

Hands you off to the lender you choose

Of course, you'll still have to take the extra steps of creating an application with the lender you select. You'll be able to do that easily through the LendingTree website: just click on "start application” or "contact lender” when you're ready to find out about getting pre-qualified or jump right in to getting your mortgage funded. And, from there, your experience will 100% depend on the lender you've chosen, since LendingTree bows out of the process once you're connected.

You'll be "encouraged” to work with their RE agents

...except for one thing. If you're not already working with a real estate agent, expect to get a heavy push to use LendingTree's partner, NewZip. (That's who our phone call AND email were from.) They call that their "homebuying concierge service”: it matches you with a local real estate agent with zero cost or commitment, gives you access to a personalized homebuying hub, and can get you 0.5% cash back at your closing. It's up to you whether or not you use it, but you'll definitely be encouraged to.

Expect a ton of texts and calls

And that's just the tip of the iceberg of the communications you should expect to receive in an avalanche if you give LendingTree your true contact info. That's what hundreds of people have gone to the BBB to complain about (even though the Better Business Bureau still gives LendingTree an "A+” rating and accreditation). Our experience is the same: we regretted using LendingTree to compare home loan offers as our phone started blowing up with texts and phone calls, and not always from companies that were interested in offering us a mortgage. *sigh* How many times do you want to click "unsubscribe” or text "STOP”, just because you were looking for a quote on a home loan?

Great for comparing loans (except for the spam)

Give credit where it's due: LendingTree provides a great platform where home buyers can, in just a few clicks, compare options from multiple well-vetted lenders. It's true that the lenders you're shown may be the ones that benefit LendingTree the most, but if it gets you to a mortgage that works for you, that doesn't really matter. But, LendingTree misses out on earning anything more than a "just average” rating from us because of the inundation of spam people receive even when they're just starting to look at their home loan options. Be very aware of what to expect if you decide to use LendingTree to comparison shop your next mortgage.

Better

• Offers conventional (fixed- and adjustable-rate), jumbo, FHA, and VA loans
• Over $100 billion in funded home loans
• Over 400,000 customers
• 100% online application
• Preapproval letters available
• Save on closing costs if you use a referred real estate agent
• Available in all 50 states + DC
• In business since 2015
• "A” rated and accredited by the BBB

Better was created in 2015 with the mission to make it easier, cheaper, and faster for the average American to get a home loan. You'll still find the process here to be 100% online (with the exception of your closing), and yes, much faster than average. It's so fast, in fact, that Better calls it the "One Day Mortgage”: you could potentially go from application to a full mortgage commitment letter within 24 hours.

Offers most home loan types

What kinds of mortgages are available through Better? You'll be able to access all of the conventional home loans, like fixed- and adjustable-rate, plus jumbo, FHA, and VA options. However, in order to see any indication of their current rates and terms, you'll have to jump right into the preapproval application. (They say it doesn't affect your credit score, but we did see rants from a few applicants who said that their Better interaction did ding their credit, even though they weren't ready to complete a full application. Caveat emptor.)

Lock in your rate day or night

There aren't many surprises in the initial process with Better. You'll tell them your timeframe (are you ready to get a home loan now or just researching?), the zip code where you're intending to buy, and so on. Oddly, when we went to use our previous login - from the last time we did the detective work on Better for you - it let us sign in but then gave us a screen that only said "Licensed staff only”. Huh?? At any rate, from there it let us know we could apply online in as little as 3 minutes and that we could lock in a rate 24/7. That's helpful for customers who aren't necessarily able to be online applying for a mortgage during traditional business hours.

Save when you use one of their real estate partners

During that process, you'll also learn that Better offers a real estate discount of savings of up to $2,000 on your closing costs. It's not available in every state, but if you get a referral for a real estate agent from Better and then get your mortgage here, you could qualify.

"A” from the BBB, but...

While still seemingly having a great reputation overall - as demonstrated by an "A” rating and accreditation from the Better Business Bureau, with just 14 complaints filed against them in the last year - Better has slipped a little since our last evaluation. While there are plenty of positive reviews for this home loan provider, including over 1,200 5-star ratings left on Trustpilot alone, we've found a few comments that make us think that there may be some issues coming down the pike (one person even referred to Better as a "total clown factory” after multiple layoffs). Some customers report poor communication and nearly doubled costs at closing that came out of the blue. In the past, most people were happy they chose Better for their home loan, but those newer reviews give us pause (and are a big part of why Better isn't at the top of our list like before).

Recent reviews are mostly negative

Even looking through the reviews (and not the complaints) left on the BBB site, all of the recent ones were a single star. People described feeling like Better did everything they could to get them in the door and to a rate lock/appraisal, and then completely left them in the dark afterwards. Others said that Better does a good job if you've got traditional W-2 income, but they're not as willing to jump through the hoops required to prove income for the self-employed. Finally, we saw more than one comment that said that they were pre-approved quickly but turned down after making the deposit, despite having an 800+ credit score.

Not our #1 for home loans anymore

We'll give Better some credit for having done a good job at providing home loans in the past, and for still having an "A” rating with the BBB. And, we'll admit, we're hesitant to put Better at the bottom of our list when they used to be our top pick for mortgages. However, we're seeing too many red flags to give Better anything higher right now. We hope that the company will fix some things and go back to offering the excellent customer service they used to be known for. But, until then, we'd recommend looking at the higher-ranked options for your home loan before filling out anything with Better.

Ally

• Offers fixed-rate and ARM home loans (no VA/FHA)
• Jumbo mortgages available
• Verified pre-approval letters available
• No lender fees (application, origination, processing, underwriting)
• Closes up to 10 days faster than the industry average
• $5,000 Ally Home Grant available for some applicants in specific metro areas
• $500 towards closing costs for eligible Ally customers
• "A” rated by the BBB

Ally is a big name in banking, with over 11 million customers and $193 billion in total assets. Their services run the gamut from traditional banking and credit cards to corporate finance, auto loans, and more.

Offers most conventional home loans

In their portfolio of services, Ally offers fixed-rate, ARM, and jumbo home loans. If you're looking for anything government-backed, however, this isn't going to be your mortgage lender of choice - there are no FHA or VA options, for example.

Today's rates on display

If you're curious about the current rates on home loans through Ally, they display them right on their website - no account necessary. You'll see the basics of loan type, interest rate, points or credits, and monthly payments. But, we recommend clicking on "Customize your rate” so that you can see more accurate initial quotes specific to your zip code, home price, down payment, and so on.

Get a pre-approval letter valid for 90 days

But, maybe you're still in the "looking for the right home” process. You could take advantage of Ally's verified pre-approval option. It'll be valid for 90 days and could help you stand out to sellers when you're ready to make an offer.

Applications processed by Better

It's at that point you'll discover that Ally turns all home loan applications over to Better, another lender on our list. We're not going to rehash everything about how Better works here (because you can go to our other review and read for yourself), but be aware that Ally only comes back into the picture to actually fund the loan and then service it after closing.

You could get a Home Grant

However, there are a few features specific to Ally that are worth mentioning. For example, Ally has a unique Home Grant program available within certain housing markets. If your annual household income is at or below the area median income, and you plan on living in the home as your primary residence, you can get $5,000 towards your purchase if the property is within a majority minority census tract in the Charlotte, Detroit, and Philadelphia metro areas. True, that's going to be a really small demographic of home buyers, but we appreciate that Ally is taking that above-and-beyond step to help people get into affordable housing.

Discounts for existing customers

You're a little more likely to qualify for Ally's $500 discount on home loan closing costs. You'll need to have been an Ally customer on a "participating business line” for at least 30 days before your mortgage closes. So, if you're an existing customer here, be sure to check to see if you're eligible; it should apply automatically and show up in the discount disclosure section on your Loan Estimate.

Skip most lender fees here

You may not need that discount, though: Ally really impresses with its "no fees” approach. Well, almost no fees. You'll still have to pay for third-party costs like appraisals, but Ally doesn't charge anything for application, origination, processing, or underwriting, and you likely won't spot that in many other places.

Big improvements in reputation

We're happy to say that Ally has brought its rating with the Better Business Bureau up quite a bit since our last evaluation: from a "D-” all the way to an "A”. And, comparing the 1,800+ complaints over the 3-year period last time to the 535 complaints we saw in the most recent 3-year span, we'd definitely say that Ally's reputation is moving in the right direction. Also, scanning through several pages of complaints, we didn't find any references to home loans. Another good sign.

Still some problems

On the other hand, comments left on third-party platforms are still pretty mixed for Ally's ability to service home loans well. We found complaints about closing costs that went way up between the initial quote and the actual closing day, documents that had mistakes and resulted in closings being delayed, and poor overall customer service. And, because of the crossover between Better and Ally, it's challenging to know who should get the blame for it (especially since Better used to be our #1 pick, but not anymore because of recent issues).

Just average for home loans

Ally has improved itself enough to come up off the bottom of our list. We can get behind their Home Grant program, and we love how transparent they are with their rates. Downsides include a lack of certain types of mortgages and those issues some customers have had with below-average service at closing and afterwards. All of that combines to earn Ally a much better score this time around -but still not our most-recommended choice for getting a mortgage.

AmeriSave

• Offers fixed-rate and adjustable-rate mortgages
• Licensed in 49 states (except for NY)
• More than $130 billion in funded home loans
• Pre-approval and certified approval letters available
• Competitive rates
• Over 20 years in business
• "A+” rated and accredited by the BBB

AmeriSave is a home loan specialist. Over 20+ years in operation, they've helped over 770,000 borrowers to buy a home (or refinance a current mortgage). The company is licensed in 49 states and has funded over $130 billion in home loans.

No rates displayed on the website

We wish that AmeriSave would display current interest rates; however, when you click on the link for "Rates” at the bottom of the site, it just takes you to the homepage. You'll have to click on the "Get Started” button to even get a clue about what you might see here. Or, go to the page for "Buy A Home”: there, you can indicate whether you're already under contract and need fast approval for a home loan, in the offer stage and need a pre-approval letter, or you're still looking and you want to lock in a rate. For the purposes of our evaluation, we chose the last option.

Soft pull to get a pre-qualification letter

Here's what you can expect. Pretty early on, you'll have to verify your identity by providing your mobile number. We were surprised that from there, we were given rates and quotes without being asked to indicate how much we'd be putting down as a down payment, but we could change those details further down the page. The rate we were quoted was pretty competitive, and we could opt to get a pre-qualification letter as well; only a soft pull on our credit was required.

Process is confusing

Interestingly, after we provided our birthdate, AmeriSave asked if we'd consider using one of their real estate agents to find our new home, which "could save [us] up to $2,000”. We clicked "yes”, but there wasn't any other information provided - what to expect, the terms and conditions of saving that $2K, nada. We were simply taken to our pre-qualification page and then offered the option of continuing to a "certified approval letter - which came with a page that said "we kindly request that you pay for your credit here so that we can continue with your loan approval” at a cost of $41.76. What?! It was really frustrating that none of these steps came with a "skip for now” or any way of opting out of the process. That was enough to make us stop in our tracks.

Watch out for a non-refundable $500 fee

That also meant we couldn't verify another big downside to using AmeriSave: a $500 non-refundable rate lock-in fee. We've seen it mentioned by clients in the past, and as far as we can tell, it's still in effect. But, AmeriSave doesn't spell that out clearly anywhere that we could see, and that's a huge disadvantage compared with other home loan options: if you choose to go with a different lender, or AmeriSave is unable to take you all the way to closing for whatever reason, it doesn't sound like you get that money back.

Clients have a love/hate relationship with this lender

How about reputation? According to the Better Business Bureau, AmeriSave still gets an "A+” rating and accreditation. We're happy to point out a decline in the rate of complaints, too - there were 165 filed in the most recent 12-month period, compared with 800+ in the last 3 years. Over 1,100 people also took the time to leave a rating (instead of a complaint) with the BBB, giving AmeriSave a decent average of 3.68 out of 5 stars. Reading through reviews there and elsewhere, it paints a picture of "you'll either love it or hate it here”. It's easy to find comments left within just a few days of each other that say "Dishonest, slow, and ridiculous” as well as "I couldn't have asked for a better team”. Great communication or none at all? Perfect paperwork or huge mistakes? Which one will you get? That's hard to say.

Falls to a below-average rating

We've had to drop AmeriSave a little in our ratings. The online process was far from smooth, almost to the point that we felt trapped in the process. Plus, such mixed feedback from borrowers leaves us feeling less than confident in this company. You should consider the higher-ranked home loan options on our list before going with AmeriSave.

SoFi^®

• Offers fixed-rate, adjustable-rate, jumbo, VA, and FHA home loans
• Options for down payments as low as 3-5%
• Terms include 10-, 15-, 20-, and 30-year loans
• Over $7.5 billion in funded home loans
• $500 savings if you're a SoFi banking customer
• "Close On Time Guarantee” - up to $10,000
• In business since 2011
• "A+” rated by the BBB

SoFi wants to help you achieve financial independence by "getting your money right”. Originally started as a peer-to-peer lending platform - SoFi is short for "social finance” - the company now operates like a traditional financial institution while still considering its clients as "members”. Across nearly 9 million of those members, SoFi has funded over $7.5 billion in home loans. And, with options that include down payments of just 3-5%, it's easy to see why you might look to SoFi to save you some money on your mortgage.

Competitive rates on display

SoFi updates its rates daily right on its website. You'll probably be pretty impressed when you take a peek: SoFi's rates were noticeably low during our most recent visit to the site. CNBC Select even named SoFi as the best mortgage lender for saving money. We also appreciate that, if you scroll down, you can see the nitty-gritty details behind each quote: what they're assuming as the down payment, how much would be due at closing, and so on. You may not see all of the available loan types shown in those preliminary rate quotes, but SoFi offers both fixed- and adjustable-rate mortgages, jumbo home loans, and VA/FHA options.

Cash back if you qualify

You will also see a cash back benefit that SoFi promotes, saying that you could receive up to $9,500 back after closing and that the average home buyer receives $1,700. Pretty exciting stuff, but the terms and conditions are very specific and might not be what you're looking for - including having to use a real estate agent that participates in the HomeStory platform to buy your home, which may not be available in all states.

See your personalized quote

If you're wondering what SoFi can do for you, or maybe you're even ready for a verified preapproval letter, just click on the "View Your Rate” button in the upper right-hand corner of the screen. You'll start by entering your email address to create a SoFi account. You'll walk through several questions about your mortgage (where we noticed that the "rates as low as” wasn't quite as low as what we saw on SoFi's main page...): it's okay if you're still in the shopping process or looking for a preapproval letter for when you're ready to make an offer. Just put in a ballpark of a zip code you're thinking of choosing and the approximate property type. In order to view your personalized rates, you'll need to provide SoFi with your full name, date of birth, and phone number. SoFi will then do a soft pull on your credit, which won't impact your credit score (until or unless you decide to complete a full home loan application when you're ready to buy a specific house).

Easy-to-understand home loan options

The way SoFi breaks down that personalized quote is quite nice. It defaults to 30-year fixed options, since those are the most popular, and it'll show you which one is the lowest interest rate, which one requires paying minimal points, and which one comes with a reduced closing cost. From there, you can tell SoFi about your income and assets, get a preapproval letter, and see a detailed loan estimate complete with approximate closing costs - all without impacting your credit score. As you work your way through that process (or go on to complete a full application), you should see a $500 discount in your closing costs if you're currently a SoFi member with other products (like a checking account).

Guaranteed to close on time if you meet criteria

SoFi is one of the only lenders you'll find that guarantees your home loan will close on time, to the tune of up to $10,000 in credit towards closing costs or any expenses caused by the delay. You'll have to meet quite a few criteria to qualify, like submitting all of your documents within 5 days of when they're initially requested and scheduling your appraisal within 48 hours of being contacted by the appraiser. Still, you won't find many other mortgage providers willing to guarantee an on-time closing.

BBB gives them an "A+”

How about SoFi's reputation? The financial institution still has an "A+” rating from the Better Business Bureau, despite having nearly 2,000 complaints filed in the last 3 years (and over 950 of those were from the last year, showing an increase in the rate of complaints that we're not thrilled to see). Fortunately, we didn't spot any of those that were related to home loans: people mostly complained about issues with SoFi's banking products like checking accounts.

Bloggers love it, customers hate it

When we look at feedback outside of the BBB, we get one impression from financial bloggers and other experts but another from actual SoFi customers. The former tend to praise SoFi for having extremely competitive interest rates and fees, as well as low down payment home loan options. That's all well and good, but there are a lot of disgruntled customers who say those perks weren't worth all of the hassles they experienced during their mortgage process. You'll find lots of rant threads on Reddit with multiple people describing how their home loan went off the rails right before closing, loan officers were unresponsive, and SoFi failed to honor its "Close On Time Guarantee”.

Better than before but still not the best option

We've given SoFi a bump since our last evaluation - not because they're doing better as a home loan provider, but rather because some of their rivals are now doing worse than before. While we wish we could give SoFi our recommendation because of its lower-than-average interest rates and money-saving perks, those recent complaints from borrowers with delayed closings and unexpected last-minute issues keep SoFi from moving higher on our list.

Truist

• Available home loans include fixed rate, jumbo, FHA, and VA
• Preapprovals offered
• "A+” rated and accredited by the BBB
• In business for over 150 years

Truist is the financial services company that emerged several years ago from the merger of SunTrust and BB&T, giving this institution more than 150 years of experience. Its headquarters are in Charlotte, NC, but this top-10 bank serves customers nationwide with products ranging from personal and commercial banking to insurance and mortgages.

Rates posted to the website

You'll appreciate that Truist displays its current home loan rates right on its website. At the time of our most recent visit, those rates were a little higher than some competitors', and we didn't see any options for adjustable-rate mortgages. At first glance, Truist seems to specialize in fixed-rate, jumbo, FHA, and VA home loans, so keep that in mind.

Application comes to a screeching halt

If you'd like the leverage that comes with being preapproved by a big bank, Truist can do that for you. Click on "Get preapproved” and provide your basic details: name, email and phone number, timeframe you're looking at buying a home, and so on. Unfortunately, though, that's where it stops: the last screen gives you your submission ID, and that's about it. Will you be contacted? When? By whom? Those are all reasonable questions that Truist does nothing to answer, and that's a big downside compared with rival home loan providers who take you through the full prequalification process online. With Truist, you're left waiting on their loan officers to reach out. We did get an email from a Truist loan officer within 30 minutes, but there's no way to predict how long you might have to wait to get yours.

Complaints with the BBB are declining

Truist continues to have roughly the same reputation with the Better Business Bureau as it did during our last evaluation: an "A+” and accreditation, with 340 complaints in the last 12 months and 3,600+ in the last 3 years. We're encouraged to see such a sharp decline in those complaints, and either way it's still on par for what you'd expect for a large financial institution.

Tons of problems reported by home loan clients

Then again, when we looked at feedback in other places, and specifically from Truist mortgage customers, the picture wasn't so rosy. Clients describe having a horrible time with the online portal when they're trying to make payments, issues with getting insurance payments made correctly from their escrow account, and almost never reaching anyone when calling Truist's customer support. This one sums it up best for us: "We are only forced to do business with them because our mortgage was bought out, but if I had a choice, I would stay far away from them.”

Look at other home loan providers instead

We have no option but to leave Truist with a lower rating. Despite having so many years of experience and a flawless rating from the Better Business Bureau, this home loan provider comes up incredibly short with respect to customer service. Do yourself a favor and get your mortgage through one of the higher-ranked lenders on our list; there's just no compelling reason to work with Truist for your home loan.

Flagstar Bank

• Available home loan types: fixed rate, ARM, government (VA, FHA), specialty (high-cost areas, higher-priced homes)
• Licensed in all 50 states
• 400+ branch locations in 9 states
• Basic rates and other info available online
• "A-” rated by the BBB
• In business for over 30 years
• Part of New York Community Bancorp

Flagstar Bank is part of the New York Community Bancorp family, with over 400 banking branches and home loan availability in all 50 states (even in the ones where there's no brick-and-mortar presence). They've won awards from a number of experts in the industry, including National Mortgage Professional and Inside Mortgage Finance, as well as a "Best-Of” award from Nerdwallet in 2024. With over 30 years of experience, Flagstar is no newcomer to the home loan marketplace.

Home loans for every type of borrower

Flagstar Bank has an incredible range of home loan types. Not only can you get a traditional fixed-rate or ARM, but also a government loan (VA, FHA). And that's not all: Flagstar can also help if you're trying to buy a home in a high-cost area or one that's simply higher-priced than most, and they even have home loans "designed for the unique needs of lawyers, CPAs, doctors, and certain other professionals”. Basically, whatever kind of home loan you may need, there's probably something here for you.

Rates can be hard to find

However, there's no easy way to find out what you might expect from your home loan without making contact with Flagstar. They don't post their current rates (or even sample ones), instead requiring you to either "apply now” or "connect with a loan advisor”. If you're like us and you prefer to fly under the radar for a while as you gather information, you'll be out of luck at Flagstar.

Look carefully for the link to get current loan options

At least, that's what you might think at first. You'll have to scroll down the page until you're underneath all of the available loan types, then click on the yellow box that says "Explore current rates”. (We found a similar low-profile link when we looked within specific loan types, like Fixed Rate.) Put in the purchase price, how much you'd like to borrow, your intended down payment amount, the zip code of the property, and you're good to go. You can get even more specific if you click on Advanced Search: put in the property type, your credit score range, and how many points you're willing to pay, in order to get a more accurate idea of what your home loan through Flagstar might look like.

Big focus on government-based home loans

You'll get a list of quite a few loan options and rates, but they won't tell you what you'll pay in origination fees or anything else: simply the loan type, rate, APR, monthly payment, and whether or not it'll have mortgage insurance (and if so, how much you'll pay). When we searched from the main page, all of the ones we were shown seemed to be government home loans; you may have to go to the individual loan type page if you're looking for something else (like an ARM).

No options for prequalification or preapproval

In order to get those details, you have to reach out or start an actual application: there's no prequalification step or option here, which puts Flagstar at a disadvantage compared with other home loan options on our list. You'll have to enter the last 4 digits of your SSN and verify either your phone or email; we recommend email so that you don't have to consent to receiving additional messages just to get a verification code. (PS - we had to do that twice during the signup process, so don't be surprised if it happens to you too.)

Not great if you're "just looking”

From there, you can expect all of the usual questions you'd expect if you're ready to get a mortgage now, including a specific property address, whether you're selling a property to purchase the new one, and so forth. Again, that makes Flagstar a less-than-ideal option if you're just in the shopping-around process but not quite ready to commit - to the home or to the lender - just yet.

No indicator of when the inquiry will affect your credit

Also, because Flagstar jumps right into the application, we had to stop short during the application: they don't specify at what point they do a pull on your credit history, and we all know that hard pulls impact credit negatively. Chalk that up as yet another disadvantage to home loans through Flagstar.

"A-” from the BBB despite negative reviews

So, that left us looking at other homeowners' feedback to get a read on Flagstar. For starters, we all know that people who go to the Better Business Bureau are usually looking to file a complaint, and that bigger companies get higher numbers of them. That all holds true for Flagstar Bank: there were nearly 500 complaints filed with the BBB in the last three years, and about 250 additional people visited the BBB site to leave a 1-star rating. Ouch. But, an "A-” grade, while not perfect, is still a great indicator that Flagstar is doing a good job of responding to issues, and we saw that for ourselves. We did find a fair amount of issues specific to servicing of home loans, but those all seemed to date back to 2022 and earlier.

Recent feedback is discouraging

Beyond the BBB, customer feedback is strangely mixed: if you look at places where people typically go to post a rant (like Trustpilot or ConsumerAffairs), Flagstar Bank tends to average 2 stars or lower; on the other hand, sites that gather information specifically about financial products (like home loans) often have thousands of 4- and 5- star reviews for Flagstar. But, here's what our detective work turned up even there: reviews left years ago were positive, but the ones left much closer to the date of this evaluation? "Worst customer service ever.” "My original lender sold my mortgage to Flagstar Bank and it has been a nightmare ever since.” "Due to their negligence, our credit has dropped 100 points.”

Too much room for improvement

Have you heard enough yet? It seems to us that while Flagstar winds up with a lot of home loans in its portfolio (often by acquiring them from other lenders), they're not doing the best job at keeping their borrowers happy. A mortgage is no small deal, and when a company isn't consistent at servicing a home loan, it gives us pause. And, with the lack of a prequalification process, Flagstar isn't doing much to earn people's business if they're not ready to jump right in and apply for a mortgage. All of this earns Flagstar a below-average rating.