We surveyed more than a dozen mortgage lenders across the U.S. that operate both online and in-person. The lenders surveyed are some of the largest mortgage lenders by volume, including banks, credit unions, and online lenders. We selected these lenders that don't charge origination fees and offer perks in other areas.
Our scoring methodology involves collecting 10 data points, including interest rates, lender fees, loan type, discounts, accessibility, and borrower requirements. We compared each lender's advertised mortgage rate to the average mortgage rate reported in Freddie Mac's Primary Mortgage Market Study. This data was accurate as of the reporting period. However, to get the most accurate data, check the latest mortgage rates.
The best lenders received a score of four stars or higher and provided superior performance or service in one or more areas.
The weights assigned to each category are as follows:
Loan cost: 30% Speed: 20% Credit requirements: 20% Types of loans offered: 20% Access and availability: 10%
Specific characteristics considered within each category include average APR, average interest rate, financing fees, minimum credit score requirements, discounts and customer service availability.
It also offered bonus points of up to 5% of your score if lenders consider alternative credit data.
To learn more about our ratings and reviews methodology and editorial process, check out our guide to How Forbes Advisor Reviews Mortgage Lenders.
Mortgage expert Josh Patoka contributed to this article.