Today’s 30 Year fixed purchase rate  |  5.50% APR

Accurate as of:

June 15, 2024

The Best Mortgage Lenders of 2022

Mortgage rate comparison made simple

These handpicked lenders can turn your dream home into a reality, with low mortgage rates and good service. Take the deed into your hands, today.

Accurate as of:

June 15, 2024

The Best Mortgage Lenders of 2022

Which mortgage lender is right for you?

Credit Score

Loan Amount

Closing Soon?

39,385 users

picked a lender via MoneyExperts this week

We found 10 lenders that fit you the most

America's largest online mortgage lender

9.8

5/5
TrustPilot Score
Base on
4.6
Click Trend
Base on the past 7 days
5.0
Product and Features
Base on the past 7 days
4.8

Learn how we score →

9.8

5/5

MoneyExperts score

Quicken Loans

America's largest online mortgage lender

2,248 people visited this site today

Get a customized rate quote in 3 minutes

9.3

4/5
TrustPilot Score
Base on
4.3
Click Trend
Base on the past 7 days
4.0
Product and Features
Base on the past 7 days
4.8

Learn how we score →

9.3

4/5

MoneyExperts score

AmeriSave Mortgage

Get a customized rate quote in 3 minutes

Direct lender, variety of loan products

9.5

4.5/5
TrustPilot Score
Base on
0
Click Trend
Base on the past 7 days
3.7
Product and Features
Base on the past 7 days
4.6

Learn how we score →

9.5

4.5/5

MoneyExperts score

New American Funding

Direct lender, variety of loan products

Trusted by 300,000+ veterans and military families

9.1

4/5
TrustPilot Score
Base on
4.9
Click Trend
Base on the past 7 days
3.8
Product and Features
Base on the past 7 days
4.8

Learn how we score →

9.1

4/5

MoneyExperts score

Veterans United Home Loans

Trusted by 300,000+ veterans and military families

Compare rates from a network of lenders

8.4

4/5
TrustPilot Score
Base on
Users Reviews
4.5
Click Trend
Base on the past 7 days
3.5
Product and Features
Base on the past 7 days
Editorial Reviews
4.2

Learn how we score →

8.4

4/5

MoneyExperts score

LendingTree

Compare rates from a network of lenders

Find a simple mortgage that works for you

8.2

4/5
TrustPilot Score
Base on
3.8
Click Trend
Base on the past 7 days
3.9
Product and Features
Base on the past 7 days
3.4

Learn how we score →

8.2

4/5

MoneyExperts score

Rocket Mortgage

Find a simple mortgage that works for you

Get pre-approved to see what you can spend

7.9

3.8/5
TrustPilot Score
Base on
0
Users Reviews
Click Trend
Base on the past 7 days
3.4
Product and Features
Base on the past 7 days
Editorial Reviews
4.0

Learn how we score →

7.9

3.8/5

MoneyExperts score

Zigzy

Get pre-approved to see what you can spend

Home loan marketplace for buyers with good+ credit

7.5

3.2/5
TrustPilot Score
Base on
Users Reviews
3.1
Click Trend
Base on the past 7 days
3.3
Product and Features
Base on the past 7 days
Editorial Reviews
4.6

Learn how we score →

7.5

3.2/5

MoneyExperts score

Bankrate

Home loan marketplace for buyers with good+ credit

Plan for tomorrow with a pre-approval List item

7.2

3.8/5
TrustPilot Score
Base on
Users Reviews
1.3
Click Trend
Base on the past 7 days
3.6
Product and Features
Base on the past 7 days
Editorial Reviews
4.8

Learn how we score →

7.2

3.8/5

MoneyExperts score

PNC Bank

Plan for tomorrow with a pre-approval List item

Competitive rates from multiple lenders

7.1

3/5
TrustPilot Score
Base on
Users Reviews
Click Trend
Base on the past 7 days
Product and Features
Base on the past 7 days
Editorial Reviews

Learn how we score →

7.1

3/5

MoneyExperts score

Refi Rate Guide

Competitive rates from multiple lenders

MoneyExperts Total Score

Our product scores consist of a combination of the following 3 components:

Trustpilot is a trusted third-party consumer review website open to anyone looking to share a business review. The BestMoney Total Score will consist of the brand’s score on TrustPilot. If a brand does not have a TrustPilot score, the BestMoney Total Score will be based solely on the Click Trend Score and Products & Services Score (read below).

MoneyExperts measures user engagement based on the number of clicks each listed brand received in the past 7 days. The number of clicks to each brand will be measured against other brands listed in the same query. Therefore, the higher the share of clicks a brand receives in any specific query, the higher the Click Trend Score. MoneyExperts accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.

MoneyExperts editorial team researches and reviews financial products based on factors such as: range of products and services offered, ease-of-use, online accessibility, customer service, special awards, and more. Each brand is then given a score based on the offerings in each parameter. The specific parameters which we use to evaluate the score of each product can be found on its review page, which is updated every 3 months. If the editorial team cannot locate information relevant to a brand’s Products & Services Score, it will not be included in its calculation.

Editorial Reviews

Quicken Loans Review

Quicken Loans

Read Review

AmeriSave Review

AmeriSave

Read Review

Veterans United Home Loans​ Review

Veterans United Home Loans

Read Review

PNC Bank Review

PNC Bank

Read Review

Rocket Mortgage Review

Rocket Mortgage

Read Review

Our Top Choice

Most Popular On This Website

NMLS #3030

5/5

MoneyExperts Score

America's largest online mortgage lender

America's largest online mortgage lender

Refinancing your Mortgage?

These are the top 3 choices:

Most Popular On This Website

View AmeriSave Rates

NMLS #1168

5/5

MoneyExperts Score

Get a customized rate quote in 3 minutes

NMLS #3030

5/5

MoneyExperts Score

America's largest online mortgage lender

NMLS #3030

5/5

MoneyExperts Score

Find a simple mortgage that works for you

What is a mortgage rate?

A mortgage rate is the annual interest that a homeowner owes on their total mortgage loan balance. Put simply, it reflects how much the borrower pays to take out their mortgage loan. 

A mortgage is a loan that is secured by property that is being purchased. In the event the borrower can’t repay the mortgage, the lender can use the underlying property to try and recoup the remaining balance on the mortgage. 

Buying a home is generally the largest purchase that most people make. Understanding mortgage loans is critical. Getting the right mortgage for your situation can significantly impact your overall financial situation and can help you make the home of your dreams an affordable reality.

Today's Current Mortgage Interest Rates November 2022

While mortgage lenders’ requirements have grown significantly stricter in recent years, the COVID-19 pandemic has led to extremely low-interest rates on mortgages. Recently, the rates have been steadily rising. 

Mortgage Type
Today’s Average Mortgage Rate
Yesterday’s Average Mortgage Rate
Mortgage Rate 3 Months Ago
Mortgage Rate 1 Year Ago
Purchase 30-year fixed
6.667%
6.685%
6.225%
3.637%
Purchase 15-year fixed
5.944%
6.125%
4.832%
2.502%
Refinance 30-year fixed
6.534%
6.485%
5.952%
3.273%
Refinance 15-year fixed
5.859%
5.839%
4.982%
2.522%

Mortgage rates can vary widely depending on various criteria, such as your credit history and the value of your new home, along with market conditions.

Buying a House in 2022

Even under normal conditions, buying a house presents challenges of one sort of another for buyers. Buying a house in 2022 comes with a number of challenges.

One factor has been a dwindling supply of homes in some parts of the country. This stems from a combination of some sellers taking their home off the market and increased demand for homes in many areas. In some cases, sellers may have decided that this isn’t a good time to move, or perhaps they’ve encountered a financial situation that has led to this decision. Due to the pandemic, many families have decided to move out of congested urban areas and into suburban areas. In many cases, the lower supply and increased demand have resulted in higher prices and stiff competition.

Mortgage Interest Rates & COVID-19

The economic fallout from COVID-19 has impacted the mortgage market in the form of stricter requirements from many lenders. Perhaps having learned from the financial crisis of 2008, many lenders have tightened their lending standards. 

These more stringent requirements vary by lender, but some examples are:

  • Some lenders have raised their minimum credit scores in general, or at least require to qualify for more preferential interest rates and mortgage terms. 
  • Some lenders have increased the down payment amount required to qualify for a loan.
  • In some cases, mortgages that had previously been pre-approved are subject to a re-verification process prior to the finalization of the loan.
  • Even government-backed loans through the FHA and VA have been impacted by some lenders’ stricter minimum requirements to obtain these loans. 

The bottom line for home buyers is that these tougher requirements may require more shopping to obtain an affordable mortgage. 

How to Choose the Right Mortgage Lender

Choosing the right lender takes a fair amount of research and requires a thorough review of your situation before you even start your search. For example, if you are a first-time buyer, some lenders might be better than others for your situation. Other factors that can help determine the right lender for your situation might include:

The key factors to consider when starting your search include:

  • Your credit score
  • The amount of your down payment
  • The loan term you are seeking
  • Extra fees and closing costs associated with the mortgage
  • The interest rate

The types of lenders you might consider include:

  • Banks
  • Credit unions
  • Online lenders

In some cases, it might make sense to work with a mortgage broker who can help you look across the mortgage lender spectrum and can often help you obtain a suitable deal. Some online mortgage sites offer access to several different lenders, much like a traditional mortgage broker. 

How to Apply for Low Interest Rates

mortgage application is a longer process than most other financial transactions that you might engage in. It’s essential to be prepared with the required documents and information before completing the application. This includes:

  • Recent pay stubs or verification of employment
  • Bank statements for all accounts
  • Your most recent personal and if applicable, business tax returns
  • W-2s for at least the past two years

Additionally, the lender will run a credit check on to obtain your credit score. They will also ensure that the property you are looking to finance is actually worth the purchase price. 

Our Top Lenders

Lender
Min. Down Payment
Visit Site
View Quicken Loans Rates
3%
View Rates
3%
View Rates
3%
View Rates

Quicken Loans

Quicken Loans is one of the most reputable mortgage lenders. It offers a large range of mortgage options including refinance loans, FHA, USDA, VA loans, jumbo loans and more. Read the full review.

AmeriSave

AmeriSave Mortgage Corporation is a full-service mortgage lender that has funded 220,000+ homes for a total value of more than $55 billion. AmeriSave is known for offering streamlined online applications with the option of contacting customer support any time you need assistance. Read the full review.

Rocket Mortgage

Rocket Mortgage is fully designed for digital natives with an advanced and smooth loan platform that keeps the entire process online and on smartphones. The site design and apps are sleek and easy to use with excellent customer service and automation to speed up the loan process. Read the full review. 

Here are the answers to some commonly asked questions about mortgage rates

What is the difference between a fixed-rate and variable-rate mortgage?

Not all mortgage rates are created equal. There are different types, and each has their own benefits, including:

  • Fixed Rates

A fixed interest rate is one that remains the same throughout the entire time you are paying off the loan. The rate is predetermined, so if you like consistency and want to know exactly what you’ll be paying, this is the better option for you.

  • Variable Rates

Variable rates fluctuate during the course of the loan based on the current index value. The rate can fluctuate, and go up or down depending on the market. People who want to try to save some money on their loan can opt for a variable rate. If the rate goes down, you’ll make a lower monthly payment for that period.

  • Amortized

These rates are charged on an upward curve, meaning you pay less each month at the beginning of the loan and gradually increase your monthly payments as the loan progresses. The actual interest rate doesn’t change, but the total amount you pay will decrease because you will be paying off more of the loan as time goes on.

 

Is it important to compare mortgage rates?

Comparing mortgage rates is one way to save money on your home loan. If you accept the first offer you see, you may regret it later. With so much competition in the lending industry today, you can usually find a lower rate if you do a little price comparison

The easiest way to find low rates is to shop around. This is really easy in today’s internet-driven world. There are loan calculators, comparison tools, lender portals, and more all designed to help you line up offers to see which is giving you the right deal. 

 

How are mortgage rates set?

In simple terms, mortgage rates are set by the secondary mortgage market. This marketplace is where investors buy off mortgages from the lenders in order to receive a return on investment (i.e., your monthly payments+interest). The higher the interest rate, the more appealing it is to investors. However, too high, and potential borrowers won’t want to borrow from that lender. So, it is a balance between the two that sets the actual rates. Other factors include inflation, Federal Reserves prices, and US treasury rates.

The rate that you are given is dependent on several factors, including the lender, the value of the house, and your current financial situation. The most important factor, though, is your credit score. Your credit score doesn’t just determine whether or not you’ll qualify for a loan at all, but it also sets the bar for what type of interest rates you’ll be offered. The better your credit score, the better the interest rates you are going to see on offer. What qualifies as a good rate for someone with poor credit will not be considered a good rate for someone who has excellent credit.

 

Is the lowest rate always the right option?

As a matter of fact, the lowest rate doesn’t always indicate the right mortgage for you. There are various other factors to consider, such as the reputation of the lender, length of repayment plan, customer service, and other terms that apply to the loan. The combination of all of these factors will give you a good mortgage loan in general, and more importantly, the right loan for your specific situation. For example, someone who wants to take out a loan and pay it off over 30 years will not be well-served by a company that only offers 20-year repayment terms, even if it is offering competitive interest rates. Consider all the factors involved in the loan and not just the interest rate before deciding on a lender. 

This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

Refine Results

Credit Score

Credit Score Radio Filter

Loan Amount

Loan Amount Radio Filter

Closing Soon?

Closing Deal Time Radio Filter

MoneyExperts Total Score

Our product scores consist of a combination of the following 3 components:

Trustpilot is a trusted third-party consumer review website open to anyone looking to share a business review. The MoneyExperts Total Score will consist of the brand’s score on TrustPilot. If a brand does not have a TrustPilot score, the MoneyExperts Total Score will be based solely on the Click Trend Score and Products & Services Score (read below).

MoneyExperts measures user engagement based on the number of clicks each listed brand received in the past 7 days. The number of clicks to each brand will be measured against other brands listed in the same query. Therefore, the higher the share of clicks a brand receives in any specific query, the higher the Click Trend Score. MoneyExperts accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.

MoneyExperts editorial team researches and reviews financial products based on factors such as: range of products and services offered, ease-of-use, online accessibility, customer service, special awards, and more. Each brand is then given a score based on the offerings in each parameter. The specific parameters which we use to evaluate the score of each product can be found on its review page, which is updated every 3 months. If the editorial team cannot locate information relevant to a brand’s Products & Services Score, it will not be included in its calculation.

DO NOT SELL MY PERSONAL INFORMATION

The California Consumer Privacy Act (CCPA), gives residents of the state of California the right to prevent businesses from selling their personal information. moneyexperts.info takes your privacy very seriously. We support the CCPA by allowing California residents to opt-out of any future sale of their personal information. If you would like to record your preference that moneyexperts.info will not sell your data, please check the box below. Please note, your choices will only apply to the browser you are using to submit this form. This also means that if you clear browser cookies, you will need to opt-out again.