Are you starting a family? Or want to have your dream house while you’re still single? Life/ changing decisions can impact your long-term goals. If you can’t have it now, why not grab the opportunity from a home financing loan to realize your goal.
Since it is a significant decision, it’s necessary to know everything about mortgage and financing service. And to help you with this dilemma we’ve come up with 4 of the best and most trusted financial institutions and corporations that can help you with your American dream of owning a house. So without further ado, let’s take a look at these best mortgage lenders for first-time buyers.
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Quicken Loans has its headquarters in Detroit, Michigan. It’s regarded as one of the largest online retail mortgage lenders in the U.S., closing deals of more than 400 billion dollars across 50 states from 2013 until 2017. In January of 2018, it was recognized as the overall retail lender with strings of awards in the industry. Some of its awards include being a J.D. power top choice in the primary mortgage organization category, having the highest customer satisfaction approval in the U.S. for nine consecutive years from, 2010 to 2018. It was also a recipient of the J.D. Power mortgage servicing award from 2014 to 2018, computer world’s 100 best places to work award for 2018, and fortunes 100 best companies to work for in 2018.
It was founded in 1985 by Gary Gilbert, Dan Gilbert, and Lindsey under the name of rock financial. In July of 1987, it was renamed Rock Financial Corporation. In 1999, Inuit Incorporated bought this corporation for about $532 million, and it was renamed Quicken Loans. With the assistance of private investors, one of the founders Dan Gilbert purchased the subsidiary back in the amount of 64 million. This award-winning lending company offers fast mortgage process helping you realize your goals and buy investments to ensure quick approval and lock the rate up for three months. Unlike other lending companies that utilize the branch system, it uses online application and depends on wholesale funding to provide loans.
Utilize their rate shield approval services and review their power buying process. Use the company’s rocket mortgage app, and it will help you determine the type of loan you need. An option to work with a loan expert is also made available to those who would instead not use the online service. Once approved, you can schedule when you want to close the deal. You can apply online tools to help you prepare your mortgage paperwork before signing the contract. They’ll continue servicing you until you ultimately pay off your loan.
Wells Fargo is a multinational company and the fourth-largest bank in the world in terms of market capitalization. It also holds the record of being the third-largest bank in the U.S. with total assets of approximately $1872bn in 2018. Fortune 500 ranked it at number 26 in the largest U.S. corporations based on total revenue. This highly recognized company has its central offices across the U.S. with its headquarters in San Francisco, California. Its operation is categorized into three business segments wholesale banking, community banking, and wealth brokerage and retirement.
For its community banking segments, the service includes regional banking consumer deposit, groups diversified products, and Wells Fargo customer connection. It has around 2000 standalone mortgage branches all over the country.
When it comes to financing or refinancing your property, this firm is an excellent partner, as it offers different types of mortgages that help you match your financial situation with the best available option for you to become pre-qualified, you can access their online resources to find out about the company and also help you determine how much you can afford to pay for your dream house. It has home lending advisors who can guide you through the process. Home Lending is one of the services offered by JPMorgan Chase, one of the big four banks in the U.S.
Bank of America
Bank of America is an American multinational company that provides investment banking and other financial services, including home mortgage financing. It’s the second-biggest banking institution in the United States, servicing about 10.73% of American bank deposits. It was founded in 1904 by Amedeo Pietro Giannini as Bank of Italy, with the object of maintaining Italian immigrants who suffered from service discrimination. At present, it primarily services our commercial banking, investment banking, and wealth management. It generates 90% of its annual revenue from the domestic market and various acquisitions. The largest division of this cooperation is the consumer banking, which offers financial services to business owners and consumers in terms of banking, lending, and investment products. It’s the division you need to go to when you want to apply for a business loan, credit card, or mortgages.
So, while you never thought you could achieve your dream of owning a house of your choice, these reputable and trusted mortgage lenders can make your dream come true!