These days, every mortgage lender with a national profile has an online presence. Most, if not all, allow you to start a home loan application online too. However, only a few have grown their mortgage lending business organically by leveraging technology and establishing early-mover status as online lenders.Yahoo Finance has completed due diligence on over 40 nationally recognized mortgage lenders and honed the list of the best online lenders to just a handful.The Yahoo view: Better proudly plants a flag as a “100% online” mortgage lender and earns our top spot due to a combination of low interest rates and lower total loan costs than its web competitors. Stars: 4.00Read our full Better Mortgage reviewKey benefits Better offers a full menu of conventional and government loans for home buying and refinancing. A home equity line of credit and a cash-out refi give you access to your house’s cash value. In a Yahoo Finance analysis of 2023 HMDA data, Better offered well-below-median interest rates and below-median loan costs. That’s a valuable combination. With its “One Day mortgage,” you can submit your financial information and receive a loan commitment within 24 hours. Need to know On the day we checked, published mortgage rates were lowered with more than two discount points. Keep this in mind when comparing Better’s interest rates with rates from other lenders. In an effort to respond to customers more quickly, some of your inquiries may be handled by “Betsy,” an AI voice-based assistant. Learn more: What are mortgage discount points, and should you pay for them? The Yahoo view: In 2015, Rate (previously Guaranteed Rate) claimed to offer the “world’s first digital mortgage.” Now, it provides expanded loan eligibility with non-qualified mortgages. Stars: 3.80Read our full Rate (Guaranteed Rate) mortgage reviewKey benefits Offers non-qualified mortgages for borrowers looking to use alternative credit data in their applications, such as bank statements or pay stubs, and those seeking a home loan with interest-only payments. Compete with cash buyers by using Rate’s PowerBid Approval. This service speeds up the preapproval process by verifying your financial information quickly and even gives you 90-day house-hunting flexibility. Rate earns our highest rating for Affordability, which measures loan options and the availability of down payment assistance. Need to know Sample mortgage rates come with some stiff credit stipulations. Don’t love a rate until it’s locked. In 2023, Rate offered a lower-than-average interest rate but loan costs of nearly $6,500 — close to the industry average. Read more: Non-qualified mortgages — How a non-QM loan can help you buy a homeThe Yahoo view: loanDepot works to deepen its relationship with customers by offering cash incentives to use associated real estate agents. Stars: 3.40Read our full loanDepot mortgage reviewKey benefits The “mellohome” program offers cash bonuses if you buy or sell your home
Sab. Gen 4th, 2025
