Best mortgage lenders for 2021

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Buying a home is a financial commitment and a significant investment. If you’re ready to buy, you’ll probably need a mortgage. There is no one size fits all for all lenders, as different home buyers will have different needs. If you’re ready to begin the mortgage buying process, this article is for you.

Here, we’ll discuss some of the top lenders, give the pros and cons of each, and give you a general overview of current rates.

In this article:

  • Lender overview

  • Current rates

  • SoFi


  • Quicken Loans

  • Wells fargo

  • Hunting bank

  • Frequently Asked Questions

Lender overview

Here is an overview of the top five lenders, including information on financial requirements, availability, and a link to each lender’s website:

Lender Minimum credit score Minimum deposit Available states




43 (Alaska, Hawaii, Missouri, NH, NM, NY, SD)



43 (Hawaii, Massachusetts, Minn., Nevada, NH, Vermont, Virginia)

Quicken Loans (Rocket Mortgage)




Wells fargo




Hunting bank




Current rates

The rates below are in effect on January 14, 2021:

Type of loan Interest rate APR

30-year fixed rate



20-year fixed rate



15-year fixed rate



10-year fixed rate



ARM 7/1



5/1 ARM



3/1 ARM



Advantages The inconvenients

Pre-qualify online in minutes

Not available in all states

Fully online process

The minimum deposit is higher than some competitors

User-friendly website

Based: 2011

Loans offered: Fixed Rate, Adjustable Rate, Refinancing, Jumbo

SoFi offers competitive mortgage rates and several other benefits to SoFi members. All buyers are automatically matched with a loan officer to help the process go as smoothly as possible, and SoFi members save $ 500 on their mortgage or refinance. SoFi currently serves over 1,000,000 members and has funded over $ 50 billion in loans to its customers. Many customer reviews detail how easy the SoFi website is for new users to navigate, and in our review, SoFi received high marks for its website. We recommend that you get a quote from SoFi to see for yourself.
Advantages The inconvenients

Pre-approval in three minutes

Not available in all 50 states

No lender fees

No brick and mortar storefronts

Available 24/7

Based: 2016

Loans offered: Fixed, ARM, FHA, Jumbo, Refinancing was founded in 2016 by Vishal Garg. He was frustrated with the inefficiencies of the mortgage market and, inspired by his own home buying experience, he created Better to remove many of the additional fees that normally come with buying a mortgage. The best agents don’t get commissions for sales, but instead are paid based on customer satisfaction.

Better does not charge any fees to lenders and you can get pre-approved in minutes using its automated system and 100% online. If you’d rather meet with your mortgage lender in person, we recommend a different company because Better works entirely on the Internet.

Quicken Loans
Advantages The inconvenients

One of the largest lenders in the country

Higher fees than many competitors

Online (Rocket Mortgage) and in-person options

No home equity loan

High marks for customer satisfaction

Based: 1985

Loans offered: Fixed, ARM, FHA, Jumbo, Refinancing, VA

Quicken Loans is one of the nation’s most trusted mortgage lenders, earning JD Power’s top ratings for customer satisfaction. There are Quicken branches all over the United States, but Quicken also offers a completely online service called Rocket Mortgage.

Quicken Loans offers several conventional mortgages, as well as government guaranteed loans. They have experts available 24/7 to help with your mortgage research, as well as online tools to streamline the process.

Wells fargo
Advantages The inconvenients

Long-standing and reputable company

Scandals may have undermined confidence in the company

Wide choice of types of mortgage loans, including government loans

More costs than some competitors

Available all over the country

Based: 1852

Loans offered: Fixed, ARM, Jumbo, Refinancing, VA, USDA, FHA

Wells Fargo is one of the largest lenders in the country, offering several traditional and government guaranteed mortgages. In fact, Wells Fargo has more locations than any other bank in the United States. If you prefer to do business online, Wells Fargo offers several online tools to help you find rates in minutes.

Although Wells Fargo has been fined several times by government agencies for inappropriate lending practices, new CEO Charles Scharf has expressed his commitment to transparency and best practices going forward. Still, scandals are worth reporting, and if you are considering Wells Fargo, it may be a good idea to seek advice from other homeowners who have purchased a mortgage through the company.

Hunting bank
Advantages The inconvenients

One of the largest lenders in the country

Part of the loan process cannot be completed online

DreaMaker® Loan for Low Income Buyers

Banks aren’t in all 50 states

Wide range of mortgages offered

Based: 1799

Loans offered: Fixed, ARM, Jumbo, refinancing, VA, FHA, DreaMaker®

Chase is one of the largest banks and lenders in the United States, with branches in 38 states and Washington, DC Chase offers a wide range of mortgage products and services, including an online portal where you can download documents. and store information.

Chase also offers the DreaMaker® Loan, which helps potential borrowers in low-income communities get loans and become homeowners. We’ve found Chase’s rates to be competitive in the mortgage industry, and if you do your personal banking with Chase, you qualify for discounts and reduced closing costs.

Frequently Asked Questions

What mortgage term is right for me?

There is no right or wrong answer, and the best option for you will depend on your personal income and monthly payment. If you have the income to pay a higher monthly rate, a shorter term may be best for you because you’ll pay less interest in the long run. However, a 30-year mortgage remains the most popular option among buyers.

What is the difference between interest and the APR?

Interest rates and APR are very similar, but the APR is a better indicator of how much more you will pay each month on top of your principal. The metric combines your interest rate with other charges.

How can I improve my credit rating?

You will need at least a credit score of 620 to qualify for most mortgages. If your credit score is preventing you from taking out a mortgage, there are many ways to improve it. The best way to build your credit score is to pay your bills on time. Once you’ve managed to pay your bills on time, focus on paying off debt and limiting the amount of credit you take out.

About Jermaine Chase

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