Mortgages

5 best mortgage lenders of 2022

Find out the best mortgage lenders for 2022. They offer a wide range of loan options, competitive interest rates, and the expertise needed to find the right fit for your home-buying needs.

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Get the best interest rate and lowest fees!

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Find out what are the best mortgage lenders from 2022. Source: Adobe Stock

Are you thinking about buying a new home soon? Then you’re in luck. We’ve compiled a list of the five best mortgage lenders of 2022.

Home purchase. Mini paper house figurine in supermarket troley on blue background.

5 things to do before applying for a mortgage

Here are some things you should know if you consider applying for a mortgage. This informative article will guide you through buying your dream home!

Keep reading to learn more about each lender and what they have to offer. By the end of this post, you’ll be able to choose the right one for your need confidently! Let’s get started.

Compare the top 5 mortgage lenders of 2022

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Find the best mortgage lender from 2022 and start your homebuying journey today! Source: Adobe Stock

Buying a new home is one of the biggest financial moves a person can make. This major transaction will deeply affect their finances and personal lives.

But how to choose the right lender with so many options on the market? It is not simple. There are multiple factors that borrowers must consider before making a decision.

First, it is important to consider your finances. After all, you don’t want to end up buried in debt.

Also, remember to evaluate the lender based on the loan offers, minimum down payment, APR, terms, and customer support.

However, if you don’t know where to start, don’t worry! We are here to help you. Below, let’s look at the best mortgage lenders of 2022.

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What you need to know before buying a home

It can be scary, but buying a house can be much easier if you are prepared. This article will give tips for what to expect when purchasing your first property.

Rocket Mortgage

Rocket Mortgage is a great lender option for anyone with a lower credit score.

Also, if you’re looking for rate transparency and personalized rates, this is one of the best choices on the market.

This lender delivers multiple mortgage products to its customers, including fixed and adjustable-rate, FHA, VA, and Jumbo loans. Additionally, they have refinancing options available.

Furthermore, borrowers can even enjoy YOURgage, a specialized loan service that allows them to choose repayment terms. They can choose from 8 to 29 years terms.

Plus, it delivers a simple and fast application process. Borrowers can complete their applications fully online. It usually takes around 47 days to close with this lender.

Simple, isn’t it? Let’s see the main details of Rocket Mortgage below.

Credit Score580 or higher;
Loans OfferedConventional, jumbo, fixed and adjustable-rate, FHA, VA, YOURgage, and refinancing;
Minimum Down PaymentAs low as 3%;
APRApply online for personalized rates;
TermsEight up to 30 years.
Rocket Mortgage logo

Rocket Mortgage: how to apply

Applying for the Rocket Mortgage is easy! With a fully online service, it offers a quick application process. Read this article and find out how to apply!

Chase Mortgage

This is one of the most popular lenders in the market these days. It delivers a simple online application with excellent support.

Chase Mortgage offers convention, jumbo, FHA, and VA loans, including fixed and adjustable-rate.

Also, they offer the DreamMaker loan, a special program that allows borrowers to make a smaller minimum down payment of 3%.

With 10 to 30 years terms, Chase also delivers mortgage calculators and educational articles to help customers throughout their mortgage application.

Additionally, Chase Mortgage offers discounts for existing customers and usually lets customers close their homes within three weeks. Check out the main details of this lender.

Credit Score620 or higher;
Loans OfferedConventional, jumbo, fixed and adjustable-rate, DreamMaker, FHA, and VA;
Minimum Down PaymentAs little as 3%;
APRApply online for personalized rates;
TermsTen up to 30-year period.
Chase Logo

Chase Mortgage: how to apply

Find out the details of Chase Mortgage application process! Apply today and finance your dream home!

Ally Bank Mortgage

Another one of the best mortgage lenders of this year is Ally Bank Mortgage.

It is known for its fast preapproval process. Borrowers can prequalify for this lender within 3 minutes.

This lender delivers convention and jumbo loans, with adjustable and fixed-rate options available.

Also, the bank has the HomeReady mortgage program, allowing borrowers with low to mid-income to put down as little as 3% of the property value.

Ally Bank offers its borrowers 30, 20, and 15-year terms and charges no lender fees. It usually takes around 36 days to close the mortgage with this lender.

Below, check out the main details of the Ally Bank Mortgage.

Credit Score620 or higher;
Loans OfferedConventional, Jumbo, adjustable and fixed-rate, and HomeReady loan;
Minimum Down PaymentAs low as 3%;
APRApply online for personalized rates;
Terms15, 20, and 30-year terms.
Ally Bank logo

Ally Bank Mortgage: how to apply

In this article, we’ll teach you how to apply for the Ally Bank Mortgage. By the end of your reading, all your questions will be answered.

Bank of America Mortgage

Bank of America mortgage is another great lender that offers low down payment and a flexible application process. It is available throughout the U.S.

This lender delivers lower interest rates compared to other lenders.

It provides several Jumbo options to its customers, including conventional, jumbo, fixed and adjustable rate, FHA, VA, rate-and-term and cash-out refinancing, and HELOC.

Bank of America allows qualifying borrowers to apply for a no-PMI mortgage with a low down payment.

Furthermore, this lender usually takes 30 to 45 days to close the mortgage. Check out the main perks of the Bank of America Mortgage.

Credit ScoreAt least 620;
Loans OfferedConventional, jumbo, fixed and adjustable rate, FHA, and VA. Rate-and-terms and cash-out refinancing, HELOC;
Minimum Down PaymentAs little as 3%;
APRApply online for customized rates;
TermsUp to 30 years.
Bank of America logo

Bank of America Mortgage: how to apply

Keep reading to learn more about the Bank of America Mortgage application process! Get all the information you need before making your decision! Read on to learn more!

SoFi Mortgage

SoFi is a lender that offers nationwide home loans, delivers a fast prequalification process, and allows borrowers to consult Mortgage Loan Officers.

They can do this for guidance throughout their mortgage application.

This lender provides conventional, jumbo, adjustable, fixed-rate loans and HELOC. Also, borrowers can apply for cash-out, and rate-and-term refinance.

SoFi Mortgage also allows existing qualifying customers to get up to a $500 discount on the processing fee for their first home loan with the company.

With repayment terms of up to 30 years, SoFi also delivers useful tools to new applicants on their website, including a mortgage calculator. Great, isn’t it?

Check out the main features of the SoFi Mortgage.

Credit Score620 or higher;
Loans OfferedConventional, Jumbo, adjustable, and fixed-rate loans. HELOC, cash-out, and rate-and-term refinance;
Minimum Down PaymentAs little as 3%;
APRPrequalify online for personalized rates;
TermsUp to 30 years.
SoFi logo

SoFi Mortgage: how to apply

Learn how to apply for the SoFi Mortgage today! Get your home loan process started and enjoy SoFi's multiple benefits!

Types of mortgage loans

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Find out more about mortgages before applying. Source: Adobe Stock

Now that your know the best mortgage lenders from 2022, you’re reading to make your decision and start your homebuying journey.

But, in case you want some additional information, we are ready to help.

The next step is to know what are the mortgage types. Multiple home loan types are available on the market, and each one will fit a different situation.

Borrowers can choose between conventional, jumbo, fixed, and adjustable-rate loans. There are also government-backed loans, such as VA, FHA, and USDA mortgages.

So if you want to make a more informed decision, it is best to know what you might come across in your research.

So keep reading to learn more about the five mortgage loan types! Let’s get started!

House isolated in the field

5 types of mortgage loans

A mortgage loan can be a great way to purchase a home, but there are several different types of mortgage loans available. Find out which one is best for you!

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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