Best Online Mortgage Lenders In The US For September 2022

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There are more online lenders today than ever before. As more people get comfortable doing business digitally (that’s a fancy way of saying from your couch), they want the convenience and quickness of online mortgage lenders.

This emphasis on consumer-friendly technology has opened the doors to a growing number of fintech startups that are investing their capital in digital platforms rather than brick-and-mortar locations. The result is more lenders competing for your business, which helps drive down the cost of lending while optimizing performance.

Because borrowers have different needs, financial profiles and loan goals, Forbes Advisor compiled a list of online lenders that excel in various areas, so there’s something for everyone here.

The Best Online Mortgage Lenders 2022


Better

5.0

Preapproval time

20 minutes or less

Mortgage rates

Within 1 to 3 basis points above or below the national average

Days to close

30 to 45 days

Better
View Rates 

View rates at Better. NMLS #330511.
Why We Picked It
Pros & Cons

Guaranteed Rate

5.0

Preapproval Time

1 to 2 days

Mortgage Rates

Lower than the national average

Days to Close

21 to 30 days

Guaranteed Rate
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons

PNC Bank

5.0

Preapproval time

20 to 30 minutes

Mortgage rates

Lower than the national average

Days to close

Average closing time is 45 days, but can be shorter depending on circumstances

PNC Bank
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons

Ally

4.5

Preapproval time

3 minutes

Mortgage rates

Within 1 to 3 basis points of the national average

Days to close

36-day average

Ally
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons

LoanDepot

4.5

Preapproval time

15 minutes

Mortgage rates

Within 1 to 3 basis points above or below the national average

Days to close

20 days

LoanDepot
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons

Quicken Loans

4.5

Preapproval time

24 hours

Mortgage rates

About 3+ basis points higher than the national average

Days to close

Average closing time is 47 days

Quicken Loans
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons

Guild Mortgage

4.0

Preapproval time

1 to 3 days

Mortgage rates

N/A

Days to close

17-day average

Guild Mortgage
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons

Mr. Cooper

4.0

Preapproval time

Depending on the loan, preapproval time can happen in 20 minutes or about 1 to 3 days

Mortgage rates

About 3+ basis points higher than the national average

Days to close

Average closing time is 35 days

Mr. Cooper
Compare Rates 

Compare rates from participating lenders in your area via Bankrate.com
Why We Picked It
Pros & Cons
source:ForbesAdvisor.com

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