The Ascent’s 2022 Mortgage Lender Awards Winners

It’s hard to find a mortgage lender with a combination of the key factors we covet most: a great online application experience, competitive rates, and low fees. Better checks the boxes in these three areas, and more.

Better does the essentials right for home buyers. The online application experience simplifies an otherwise complicated process through other lenders. Plus, Better offers great rates on the most popular mortgage products most new homeowners are seeking.

Bank of America shines by offering an array of great lending options for first-time home buyers. The bank’s Affordable Loan SolutionⓇ mortgage program is a standout offering for a low down payment with no private mortgage insurance. Additionally, Bank of America offers traditional loans with good rates and access to popular government-backed loan programs that make homeownership affordable.

Better is a consistent winner for our 2022 mortgage lender awards, and that trend continues when it comes to refinancing. The lender's competitive rates and lack of origination fees helps homeowners cut their costs when refinancing.

CitiMortgage takes the podium position when it comes to FHA loans because of its ability to cater to less qualified borrowers. Citi can accommodate lower credit scores and thin credit files. Lower-income borrowers in certain areas can even get free money from the lender to help cover closing costs. Not to be left out, the rates and fees are competitive across mortgage products, and any customer, including someone with $1 in the bank, can get a discount on their mortgage.

Veterans United gets this award for two reasons. First, the lender goes out of its way to provide great service, regardless of loan type. Second, Veterans United is one of the biggest lenders that specializes in VA loans. This ensures home buyers have a seamless process working with a lender who knows VA loans through and through.

Rocket Mortgage has consistently secured top marks from J.D. Power for customer satisfaction. The lender also consistently receives great reviews through the BBB, as evidenced by its A+ rating. The main reason for such high levels of satisfaction is that Rocket Mortgage has a great application experience that simplifies the purchase or refinance process.

Better simply stands apart from the rest due to the top-notch online experience it provides, coupled with its low fees and fast responses.

New American Funding goes the extra mile to cater to borrowers who don't fit the plain vanilla mold. That includes people who don't have strong credit profiles. Yes, other banks also offer FHA loans and other programs that are more forgiving in their underwriting requirements. But New American Funding has a bigger menu of off-the-path loans than most other lenders. The lender also allows manual underwriting, which can make it easier for borrowers with imperfect credit to get approved for a loan.

Fairway is the largest USDA lender by volume. This doesn’t automatically mean they secure an award for this loan program, though. What explains their podium position is that the lender charges lower upfront fees on USDA loans than many competitors, and it has an extensive brand network with great customer service.

Finding a great HELOC lender mainly comes down to flexibility and competitive rates. PenFed delivers in both of these areas with loans available up to $1 million, the ability to change from a fixed rate to a variable rate, and consistently low rates in general.

The mortgage lender app competition is packed with strong incumbents and modern options that promise a simple mortgage application process. But Guaranteed Rate’s mobile app shined in our testing, due to its simple user interface, real-time mortgage rates, and access to dedicated loan officers when the need arises.

Redfin should be one of the go-to apps for any new home buyer. The app is dead simple to use, provides great virtual tours, and at times lists properties on the platform faster than some competitors. What’s more, Redfin offers an array of services, from finding a real estate agent to selling your home directly to Redfin with a fast turnaround.

We think most first-time home buyers should work directly with a local Realtor who knows their market through and through. Realtor.com’s app is the best option when searching for a local Realtor, and this is the main reason why Realtor.com’s app secured this award. What’s more, Realtor.com’s app is easy to use to find a home, compare rates, and get educated on local housing markets.

Zillow is the go-to app for all-around real estate agent needs. Simply put, it has an abundance of real estate agent user ratings that's hard to match with other home-buying and real estate apps. Leveraging real-life user ratings is one of the easiest ways to secure peace of mind knowing you’re selecting the right real estate agent.