Cardinal Financial Company: Best for low-credit score borrowers

Cardinal Financial Company: Best for low-credit score borrowers

Methodology

Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.

Better Mortgage Company: Best online lender

(Better Mortgage) is an online mortgage lender offering a range of loan products in the majority of states in the U.S, and one of Bankrate’s best mortgage lenders overall.

Strengths: can save you time and money with three-minute preapprovals and 21-day closings, on average, and no lender fees. If you get a more competitive mortgage rate from another lender, you can also take advantage of the Better Price Guarantee, in which either matches that rate or gives you $100. The lender offers seven-days-a-week support by phone, as well, if you need it.

Weaknesses: If you’re looking for a VA loan or USDA loan, you’ll have to search elsewhere; currently doesn’t offer these loan types. Although the Better Price Guarantee can help you get a lower rate, it’s only available if you apply online directly through the lender.

Interfirst Mortgage Company: Best non-bank lender

Interfirst Mortgage Company (Chicago Mortgage Solutions LLC) is a combo-direct mortgage lender, wholesale lender (meaning it works with mortgage brokers) and correspondent lender.

Strengths: Interfirst has an A- rating from the Better Business Bureau and high marks from borrowers on Bankrate and elsewhere. Plus, with its multiple business channels, the lender can offer several loan options for many types of borrowers.

Weaknesses: Interfirst isn’t licensed in every state, and if you’re trying to compare mortgage rates, you might have a harder time, since this lender doesn’t showcase rates publicly on its website.

AmeriSave Mortgage Corporation: Best for refinancing

AmeriSave Mortgage Corporation is an online mortgage lender, available in every state except New York, offering an array of loan products. Along with conventional loans and refinancing, the lender also offers government loans, and is one of Bankrate’s best FHA lenders in 2021.

Strengths: Like other online mortgage lenders, AmeriSave Mortgage Corporation has some of the most competitive rates out there, and about half of consumers have had their loans closed in 25 days. The lender also doesn’t charge a separate origination fee.

Cardinal Financial Company, which also does business as Sebonic Financial, is a national mortgage lender that offers both an in-person and online experience and a wide variety of loan products.

Strengths: Borrowers have a range of options with Cardinal Financial, with the lender able to accept credit scores as low as 620 for a conventional loan, 660 for a jumbo loan, 580 for an FHA or USDA loan and 550 for a VA loan. The lender also offers speedy preapprovals, and some borrowers have been able to close in as little as seven days (although the average is 30).

Weaknesses: Cardinal Financial’s current mortgage rates and fees aren’t listed publicly on its website, so you’ll need to consult with a loan officer for specifics pertaining to your situation.

Fairway Independent Mortgage Corporation: Best for first-time homebuyers

With more than 700 branches, Fairway Independent Mortgage Corporation can offer an in-person experience to both first-time and repeat homebuyers across the U.S.

Strengths: TIf you’ve never taken out a mortgage before, Fairway has an extensive glossary of mortgage terms you can read up on, several mortgage calculators and a homebuyer guide with a checklist, dos and don’ts and more. The lender also offers first-time homebuyer-friendly loans, including FHA loans, and a mobile app, FairwayNow, where you can send direct messages and track your loan status.

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