MONEY's Best Mortgage Lenders of 2020
was developed with added insight from economists, real estate professionals, loan officers and brokers. The result is a categoric breakdown of the best overall mortgage lender, best lender for first-time homebuyers and the best lender for military home loans. The winners of those categories include Quicken Loans, Guild Mortgage Company and Navy Federal, respectively.
Quicken's nationwide reach and customer servicae ratings earned the company the best overall ranking. Guild's range of credit options helped secure its spot at the top for first-time buyers. Customer satisfaction, it's size and being the fourth-ranking VA loan originator is why Navy Federal received the best military mortgage lender ranking.
"Before COVID-19 turned into a pandemic, mortgage rates plummeted to a 50-year historic low. With unemployment rates now at an all-time high, stock market uncertainty, and many states issuing stay-at-home orders, MONEY wanted to know how this drastic shift is affecting homeowners and potential buyers, and how market projections compare to the Great Recession," according to a release
"Experts found that while ambiguity continues, demand for homeownership endures and interest rates remain low."