Who are the best online mortgage lenders right now?

4. Homefinity  

Headquartered in Madison, Wisconsin, Homefinity is an online mortgage lender that is licensed in 48 US states (excluding New York and Nevada) and Washington, D.C. Launched in 2018, Homefinity stands out with its speedy underwriting process—with closings for a purchase averaging about 30 days. This online lender also gives you the option to refinance and offers guidance from a loan officer, who you will likely work with throughout the entire process.  

5. loanDepot  

loanDepot, which is headquartered in California, is one of the largest non-bank lenders in the US and offers a wide selection of mortgage products. Not only does loanDepot cut down on paperwork, but, in some cases, its fintech solution cuts down on the need for home appraisals, which can speed up closing by as much as 17 days. If your property was originally financed by loanDepot, you can also enjoy zero refinancing fees.  

6. Mr. Cooper  

Formerly Nationstar, Mr. Cooper is a non-bank mortgage originator and servicer that was founded in 1994 and is based in Coppell, Texas. Among the mortgage options offered by Mr. Cooper are low-down payment conventional loans, investment property loans, and FHA and VA loans—as well as free 45-day rate locks. If you are buying a new property with a conventional loan, Mr. Cooper also offers a close-on-time guarantee.  

7. New American Funding 

New American Funding, which is based in Orange County, California, has over 170 branches across the US. New American Funding is focused on minority communities and aims to provide $25 billion in loans to Hispanic borrowers by 2024 and $20 billion in loans to black borrowers by 2028. New American Funding’s loan program I CAN Mortgage lets borrowers choose their repayment period between eight and 30 years.  

8. Sebonic Financial  

Sebonic Financial, a division of Cardinal Financial, is a privately held lender and is based in Charlotte, NC. Sebonic Finacial’s proprietary technology, Octane, provides borrowers with the ability to drag-and-drop documents and sign e-signatures, as well as real-time updates.