First time home buyers as well as buyers that have owned homes in the past, often spend weeks and months searching for the perfect home. They carefully research neighborhoods, schools and even commuting options as well as carefully list all the features and amenities they want in a home.
While these are all important to do, the first step in buying a new home should be to choose a lender. Taking the same amount of time in comparing options and considering different companies will allow the individual to narrow down choices to only the best home mortgage lenders.
Not Just Interest Rates
Interest rates vary slightly between home mortgage companies and loan providers. However, a low-interest rate isn’t the only factor to consider. Some companies offer top customer service and support and take the time to ensure the buyer has a full understanding of the pros and cons of any home mortgage loan option under consideration.
Keep in mind, the various rates quoted by the best home mortgage lenders are always based on the credit score of the buyer. Working in advance with a lender may provide you with insight and guidance on how to improve your credit score, helping to lower the interest rate. Even a fraction of a percentage decrease in the interest rate can result in thousands of dollars in savings over the lifetime of the loan, which may be up to 30 years.
Compare Online Lenders
A relatively recent addition to conventional in-person mortgage companies are online mortgage providers. These are often the best home mortgage lenders as they have lower overhead, a national approach to providing service and a full range of loan products for all types of buyers.
The best online lenders can provide support for those purchasing a home with a VA loan, an FHA loan or someone requiring a jumbo loan as well as traditional 15 and 30 year fixed loans or adjustable rate mortgages.
At Guaranteed Rate, we are one of the best home mortgage lenders for first time home buyers, those with experience in home purchases or for those looking to refinance.
