The best Mortgage Lenders

Mortgage banks of the day

The best mortgage lender for FHA debtors. The manual underwriting gives the lender more flexibility in approving loans. Emphasis on minority and non-traditional mortgage borrowers.

Statistics and analyses

For this reason, Ask a Lender presents its first Best Mortgage Lenders Ranking, which presents the nation's best mortgage broker and banker by state and town. In order to help these powerful mortgage banks present their excellency to US based community leaders, Ask a Lender launches the best mortgage banks. It is a validated shortlist of lenders who have achieved the landmark of close at least 100 credits last year.

Classifications of the best mortgage lenders by town and state are presented on the Internet at www.askalender.com. In order to find out how the ranking was drawn up and to see which lenders took first place in their countries, continue reading. Some mortgage intermediaries and banks are arranged in their own towns and states according to the aggregate number of home loan agreements concluded in 2017.

Over 3,200 participants filed their submissions for the more than 850 US city-lists. Those credit clerks were representing about 400 businesses throughout America. Validation material was required from each participant who granted at least 100 credits in 2017. In order to be added to the definitive listing, each participant had to submit a 2017 Product Review together with a review of that review in writing by an auditor, the Company's CFO or a similar relevant well.

There are 2,503 mortgage lenders on the definitive roster of participants who have been validated. Full ranking lists are available on-line and can be searched by town and state at www.askalender.com. On page 80, the listing - kindly provided by Ask a Lender - is a quick glimpse of the bigger listing, showing which lenders were number one in each state (except Alaska and Montana) and in the District of Columbia.

In 2017, the 2,503 lenders in the ranking of Best Mortgage Lenders 2018 granted 452,804 mortgage credits (including purchasing and refinancing credits as well as a HELOC or home equity line of credit). This is an averaging of nearly 181 loan per borrower, or 15 loan per months during the year.

In 2018, the overall lending portfolio of the full Best Mortgage Lenders 2018 ranked $122.42 billion, an equivalent of nearly $49 million per borrower on that year. These 2,503 lenders averaged $270,383 in loans, which is quite typical of the US economy as a whole. Hawaii was not surprisingly the state with the highest credit level averages.

Best Mortgage Lenders working in Aloha State averaged nearly $500,000 per credit. In Hawaii, Washington, D.C. followed, where the credit rating of the lenders in the Best Mortgage Lenders 2018 averaged more than 450,000 US dollars. Other states with the highest levels of credit were New York, California and Massachusetts.

State of California led all other classes listed on the 2018 best mortgage lenders list: number of lenders on the 283 lists, 50,302 credits and 20.08 billion dollars. Indeed, California's overall lending on this scale is almost twice as high as that of the second-ranked state. Texas was No. 2 in this class, with $10. 6 billion in overall output from the 250 lenders who made the Best Mortgage Lenders 2018 ranking.

Obviously, the California credit line is much higher than the Texas credit line. Californian lenders on the best mortgage lender ranking for 2018 averaged $399,118 in credit terms, about 69 per cent more than the Texas lenders on the best mortgage lender ranking. As a matter of fact, the first four states in all three classes were the same, with Florida and Illinois rounded off the top of the lists in these classes.

It was interesting to note that Florida was No. 3 on the lender number and credit count lists, just ahead of Illinois, but the country of Lincoln led the Sunshine State in terms of overall credit volumes. Although Florida had 6 per cent more lenders on the Illinois ranking than Illinois (160 vs. 151) and these lenders nearly 1,750 more credits or 6th place, Florida had 6 per cent more lenders than Illinois (160 vs. 151).

With 2 per cent more than their Illinois peers, Illinois lenders emerged more than a billion dollars more than Florida lenders on the roster - $7. 86 billion against $6. 76 billion. See page 80 for the listing of lenders who were number 1 in their states and the District of Columbia.

For the full listing see Ask a Laender only at www.askalender.com/BML2018. Borrower can browse the state ranking to see the best lenders in their state, or limit their browse to towns in each state that have lenders who have made the grade to be the best mortgage lenders of 2018.

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