New information on mortgage lenders helps consumers make more informed decisions before purchasing.
San Francisco, CA -- (SBWIRE) -- 04/16/2015 -- TheBestCompanys.com (TBC) recently launched a new way to rank mortgage lenders that will provide valuable data to interested consumers.
While 2015 had a slow quarter for real estate, market trends suggest things are about to pick up. As demand for homes increases, first-time and seasoned home buyers will be turning to mortgage lenders to secure home loans, and they couldn't have picked a better time.
There has been a general decline in mortgage rates across the country since September of 2014. A current 30-year-fixed mortgage rate sits at an average of 3.69%. This time last year, the same mortgage plan had an interested rate of 4.4%.
"When mortgage rates drops, the idea of purchasing a home becomes more and more enticing for many individuals and families," TBC PR Director Jessica Jensen said. "At TBC, we want to arm interested parties with all the insights we can find on mortgage loans so they can make an informed decision."
TBC aims to provide information to consumers in the form of honest assessments and consumer reviews. The knowledge they provide helps consumers make smarter purchasing decisions.
TBC evaluated mortgage lenders on a number of factors including prepayment penalties, approval time, minimum credit scores, max loan rates, and minimum down payment percentage. They also took BBB ratings, time in business, and the type of loans offered into consideration.
Thus far, TBC has reviewed the following lenders: Wells Fargo, Bank of America, Lending Tree, Chase, Discover, PNC, Caliber Home Loans, Embrace Home Loans, CitiMortgage, US Bank, Consumer Direct Mortgage, Sebonic Financial, Elite Mortgage, and Home Direct Mortgage.
Out of all the lenders reviewed, TBC calculations showed that CitiMortgage is the best mortgage lender to work with. Wells Fargo and PNC came in second and third place respectively.
"The more information and choices consumers have, the better decision they can make," said Jensen.
TBC provides reviews, resources and research on companies across many different industries. They encourage real customers to leave reviews for companies so they can help others make knowledgeable decisions. For more information on all listed industries, visit TheBestCompanys.com.