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Accurate as of May 11, 2025

Today's Best Mortgage Rates

Compare trusted lenders all in one place and see who has the best mortgage rates. Lock in a home loan interest rate with a lender you can count on.

Interested in refinancing?

01

Quicken Loans logo

Unlock cash from within your home

9.9
View Rates

02

Rocket Mortgage logo

Find a simple mortgage that works for you

9.7
View Rates
800-707-5133 CALL

03

AmeriSave logo

Get quotes and pre-qualify quickly

9.5
View Rates

01

Quicken Loans logo
Quicken Loans Refinance

Unlock cash from within your home

Unlock cash from within your home

  • Get connected with lenders for $0 and compare products for free
  • 100% entirely online experience from start to finish
  • Personalized financial recommendations and powerful home equity solutions
  • Get rates from providers and compare them side-by-side
9.9
View Rates

02

Rocket Mortgage logo
Rocket Mortgage Refinance

Find a simple mortgage that works for you

Find a simple mortgage that works for you

  • Explore cash-out refinancing solutions and get access to cash quickly
  • Shorten your current loan term with custom fixed-rate loans from 8- to 30- years
  • Variable lines of credit available
  • Application syncs with your bank for real-time updates and a fast process
9.7
View Rates
800-707-5133 CALL

03

AmeriSave logo
AmeriSave Refinance

Get quotes and pre-qualify quickly

Get quotes and pre-qualify quickly

  • Access your home’s cash with refinancing and home equity loans
  • Lock in low rates before they increase with rate lock protection
  • Quick process from quote to bidding to approval
  • Funded over $100 billion in financial products over 21 years of business
9.5
View Rates

What Is a Mortgage?

A mortgage, in simple terms, is a loan provided by a lender, typically a bank or a mortgage company, to help you purchase the property you desire, and a commitment to repay the borrowed amount over a specific period (typically 15 to 30 years).

How to Find the Best Online Mortgage Lenders and Mortgage Quotes

Online mortgage loans, offering the convenience of quick online communication, are ideal for those looking to prequalify for a home mortgage without the hassle of visiting a bank. Those with a strong credit history should have an easier time getting prequalified for a mortgage.

We understand that choosing a mortgage company can be a difficult process and it may be challenging to compare different mortgage rates. Take time to shop around and read reviews of different lenders to compare things like interest rates and loan terms. This smart approach can help you find the best deal available.

Different Types of House Loans

Conventional MortgageA conventional mortgage is a house mortgage, typically offered by banks, credit unions, and other financial institutions that follow guidelines set by US government-sponsored enterprises.
Private Mortgage LoanFor more flexible terms, consider prequalifying for a home loan with private lenders, especially if traditional financing doesn't suit your needs.

How to Compare Mortgage Offers

Comparing mortgage offers can be complicated. We recommend to be comprehensive and evaluate the interest rates, loan terms, and associated fees from each lender, ensuring you also consider the annual percentage rate (APR) for a complete cost assessment. Additionally, review the flexibility of each mortgage and the mortgage price, such as prepayment options and potential penalties, to align with your long-term financial goals.

Understanding Mortgage Costs

To understand the difference in mortgage costs, it's worth taking into account both your short and long-term financial goals. Look at the interest rates and APRs to see how much you'll pay in both the short and long term. Also, consider other expenses like closing costs, PMI, and potential rate adjustments, as these can significantly influence the total mortgage costs and impact your financial strategy.

Apply for a Mortgage Online

The first step in applying for a mortgage loan online is to prequalify for a mortgage. This initial step gives you a clear idea of what you might be eligible for, allowing you to shop for homes within your budget confidently.

  1. Check Licensing
    • Make sure you're viewing a licensed mortgage loan originator. To verify a lender's license status, check their National Mortgage Licensing System (NMLS) ID at the NMLS website. (Available under each company's logo on our page.
  2. Compare Multiple Lenders
    • Once you’ve selected the best home mortgage lenders for you, don’t be afraid to fill out more than one online mortgage loan application. This can give you a better idea of average rates and help you find the best mortgage loans out there.
  3. Choose a Loan that Works for Now
    • Ideally, you should apply for a home loan that is tailored to your current financial situation and not your future plans.
  4. Review Terms Carefully
    • Regulation of private mortgage lenders varies, so it's important to review your loan terms in detail to be sure you're not missing any important information.

» For guaranteed reputable lenders, view our best-rated mortgage lenders above and find a mortgage preapproval with a verified lender.

Everything You Need for an Online Mortgage Loan Application

When you've narrowed down your list ready of the best home lenders you're interested in checking out and you’re ready to apply for mortgage online, be sure to get the following information ready for a quick home mortgage application –

Personal information (Social Security number), employment history, proof of income (W-2, tax returns), any debt information (credit cards, student loans), and mortgage property details (if applicable).

Get Prequalified for a House Loan

We understand that choosing a mortgage company can be a difficult task. Taking time to get prequalified for a house loan and seeking home financing pre-approval are smart approaches that can help you secure the best deal available. It's also worth considering a house loan pre-approval if you're looking to understand your borrowing limits better.

Good mortgage lenders should offer a mortgage loan pre-approval process that is straightforward, indicating a transparent and customer-focused approach. Lenders that offer a ‘prequalify house loan’ feature on their websites are showing that they are willing to provide assessments without requiring a client to commit.

Prequalifying for Mortgage Quotes

Getting prequalified for a house loan is the first step in understanding what you can afford, which can significantly simplify your home-buying process. Take time to compare the best mortgage lenders and find the perfect fit for your financial situation.

» Mortgage Resources – Shop Around or Learn More

Check out 5 factors that determine your rate and our best mortgage loan companies reviews before you apply for a house loan.

» Our Selections – Best-Rated Mortgage Lenders

In our search for the best online mortgage lenders, we consider those that make it easy to prequalify mortgage loan and offer home loan preapprovals. Our rankings also consider the availability of no-closing cost mortgage options, showing a lender's commitment to affordability and transparency. Explore our page to learn more about the findmortgages.com ranking process and methodologies, as well as how we share information about our best online mortgage lenders with you.

Mortgage Loan Resources

  • Calculating your mortgage rate
    Credit score, loan amount and terms, down payment, market conditions, and more can affect your individual rate.
    Learn more.
  • Credit score and mortgage applications
    Your credit score will affect your loan eligibility and interest rates. Generally, higher scores lead to lower rates. If your credit score is poor, there are options available including FHA Loans, lenders that accept poor credit scores, or applying with a good-credit co-signer.
  • Improving your likelihood of approval
    Improving your credit score, saving for a larger down payment, and reducing your debt-to-income ratio can all help increase your chances of getting approved for a mortgage.
  • Best banks for mortgages
    While the answer varies based on individual needs, the best banks for mortgages typically offer competitive rates, excellent customer service, and various loan options. Consider both national banks and local credit unions.
  • Home improvement loans
    Home loan lenders can provide funding for home improvements, debt consolidation, or other major expenses.
  • Access home equity
    Home equity lenders provide a flexible, revolving line of credit based on your home's total equity.
    Learn more ➜
  • Already have a mortgage?
    Mortgate refinancing can help you secure a lower rate on your existing loan.

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Frequently Asked Questions (FAQ)

A mortgage loan is used to purchase a home or real estate property. It involves an agreement where the borrower repays the loan over a set term, typically 15 to 30 years. The loan is secured by the property, which means the lender holds it as collateral until the mortgage is fully paid off. The borrower repays the loan through monthly payments, which include both principal (the loan amount) and interest.
Securing a mortgage loan typically takes between 30 to 45 days from start to finish. The process includes pre-approval, application submission, underwriting, appraisal, and closing. If you need to secure a mortgage loan as fast as possible, online lenders are a great option. Online lenders can process and approve loans in as little as 15 to 30 days, thanks to streamlined digital applications and quicker approval processes.
Your credit score plays a key role in determining both your mortgage eligibility and the interest rate you'll receive, accounting for roughly 34% to 40% of the decision-making process. Generally, higher credit scores result in more favorable terms and lower interest rates. If your credit score is on the lower side (around 620 or less), there are still plenty of options available. Many online lenders offer more flexible credit requirements, and applying with a co-signer who has a strong credit score can also improve your chances of securing better loan terms.
To improve your chances of getting approved for a mortgage loan, focus on raising your credit score by making timely payments and reducing any unpaid balances on your card(s). Lenders also prefer a lower debt-to-income (DTI) ratio, typically below 43%, as it shows financial stability. Saving for a larger down payment and maintaining stable employment can further strengthen your application. To speed up the approval process, ensure that all documents you submit are accurate and up to date.
To secure the lowest mortgage rates, it's important to maintain a high credit score and keep your debt-to-income (DTI) ratio low, as these factors demonstrate financial responsibility to lenders. Lenders also assess your income, employment history, and the size of your down payment when determining your eligibility. If your financial profile is lacking in one or more areas, applying with a co-signer who will share responsibility for the loan can help boost your chances of approval and possibly lead to better terms.
Pre-approval is a process where you self-report your financial details, such as income and debt, to get an estimate of how much you might qualify for without a hard credit check. It provides a personalized loan estimate and potential interest rate, helping you compare offers from different lenders and determine what you can afford. Pre-approval is a great first step before fully applying for a mortgage, as it allows you to shop around and better understand your options without impacting your credit score.
When applying for a mortgage loan, lenders will use the following documents to assess your financial health and determine your eligibility for a mortgage loan: PROOF OF INCOME (pay stubs, tax returns W-2s or 1099s) • EMPLOYMENT VERIFICATION (a letter or workplace contact) • BANK STATEMENTS (savings and/or checking account balances and other assets) • CREDIT INFORMATION (lender will conduct a credit report check) • DEBT INFORMATION (current debts and/or other outstanding loans) • PROOF OF IDENTITY (driver's license or passport and your Social Security number).
Start by researching online and reading reviews to check the lender's reputation. Then, shop around by getting preapproved with multiple lenders to compare rates. (Preapproval should not impact your credit score, it's simply a preliminary loan and rate estimate). Don't hesitate to ask questions about the loan process and fees. Local real estate agents can also provide recommendations based on their personal experience with mortgage lenders.
If you're facing challenges with your mortgage payments, there are options to explore. Many homeowners refinance their mortgage to modify their loan terms or secure a lower rate if the market has changed (though there's typically a 6 month waiting period from after you close to when you can refinance). Additionally, you can contact your lender to discuss assistance programs like forbearance and loan modification.
You should consider refinancing your mortgage when it can help you achieve a financial goal, such as lowering your monthly payments, reducing your interest rate, switching from an adjustable-rate to a fixed-rate loan, or accessing your home’s equity. It's generally worth considering refinancing if current interest rates are significantly lower than your existing rate (around 0.5% to 1% or more) or if your credit score or financial situation has improved since you took out the loan. You should always factor in the closing costs associated with refinancing before signing any paperwork to ensure it’s a cost-effective move.