Taking a new home loan or refinancing your current property for a mortgage is a big financial decision. You must consider several factors like APR rates, tenure, type of mortgage, and the cost of borrowing before comparing it across top lenders. For first-timers, this research can be a pretty tricky undertaking, and this is why we have narrowed down the top five names for you to consider as favorable options to begin with, this year.

Better Home Loans
The most significant advantage of taking a mortgage with Better is that you don’t have to pay any lenders’ fees or commission for application or approval. On average, other banks may charge you an origination fee of 1.5% on the total loan amount. Here, you avail some of the most competitive pricing with “Better Price Guarantee” and even reduce your closing costs with their Realtor program. The lender is also providing services in 46 states and offers a variety of mortgages, including conventional, FHA, VA, Jumbo, and refinancing options available at fixed and adjustable rates.

Quicken Home Loans
If you are looking for a decent online process or prefer dealing with certified loan officers, Quicken mortgage is the best way to finance your new home dreams. You get the best of both worlds mortgage with the Rocket Mortgage application process and speak to advisors who guide you over the phone for FHA, VA, Jumbo, and Refinance loans. You must also have a minimum credit score of 620 to avail of 3% down payment benefits on Quicken loans. While the financial institution may not offer the most competitive rates in the market, the service still ranks highly among known vendors for its ease of application, variety of loans, and transparent pricing policies.

Flagstar Home Loans
Flagstar provides its services in all 50 states and offers flexible credit score requirements that vary depending on the type of loan. The online application is pretty straightforward, and the bank offers a wide variety of conventional and special mortgage loans with fixed and adjustable rates. And except for State bond programs in select locations, Flagstar does not charge any origination fees for mortgages available in eligible states. Better Business Bureau has given Flagstar an A+ accreditation for its purchase services and refinances of a mortgage.

Wells Fargo Home Loans
Wells Fargo is one of the premier financial institutions in the country that you can consider for new home loans and refinance mortgages. Their transparent pricing policies enable you to compare and select the best home loan quotes to finance your needs. You can track every step of the process from application to approval online and even get real-time updates upon registration. Wells Fargo also requires a minimum credit score of 620 for availing of the 3% low down payment benefit. But the service ranks across the board for various loan types, financial products, user-friendly experience, transparency, and affordable loan borrowing costs.

North American Savings Bank (NASB) home loans
Established in 1998, NASB has an A+ accreditation from the Better Business Bureau. One of the most significant advantages of NASB loans is that those who don’t qualify for a regular mortgage can apply here and fulfill their financing needs. Self-employed individuals and borrowers who are not earning conventionally can consider their various special loan programs. The bank also does not charge any origination fee for Veteran Affairs (VA) loans. You can check and compare the latest rates on their official website for a fixed and adjustable mortgage.