The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.
2.87% APR
0.10% 1 day change
0.24% 90 day change
Powered by Wells Fargo

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.

Last updatedOctober 2021

Best Mortgage Lenders 2021

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.

Which mortgage lender is right for you?

Credit Score
  • Excellent (720-850)
  • Good (690-719)
  • Fair (630-689)
  • Poor (350-629)
Loan Amount
  • Up to $100K
  • $100K-$250K
  • $250K-$400K
  • $400K and up
Closing soon?
  • As soon as possible
  • Within a few months
  • Just looking around
Sorry! There are no offers that match your criteria.Please try another search.

200K+ visitors

found their lender here in the last month

BestMoney Total Score

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

TrustPilot Score

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).

Click Trend

BestMoney 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 on the same page and device (desktop, mobile, or tablet). Therefore, the higher the share of clicks a brand receives, the higher the Click Trend Score. BestMoney accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.

Products & Features

BestMoney’s 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

Quicken Loans

Read review
AmeriSave Mortgage

AmeriSave Mortgage

Read review
New American Funding

New American Funding

Read review
Veterans United Home Loans

Veterans United Home Loans

Read review
Read all reviews
Refinancing your Mortgage?These are the top 3 choices:
Most Popular on This Website
AmeriSave Mortgage
AmeriSave Mortgage
Get a customized rate quote in 3 minutes
30-Year fixed APR: 2.738% NMLS #1168. Rates Effective 10/15/2021. See site for details.
  • No SSN needed for pre-qualification
  • Pre-qualify without a hard credit pull
  • Low refinance rates
  • Find a quote easily
Quicken Loans
Quicken Loans
America's largest online mortgage lender
  • Get a Verified Approval Letter (VAL)
  • Flexible payment available
  • Borrow up to $2 million
  • Wide range of loan options
Better
Better
Top-rated lender with no fees or commissions
  • Secure, no-hassle applications
  • 100% online, with phone support available
  • Average customer saves $3,557
  • Close up to 2X faster

Current Mortgage Rates for October 2021


Average Rate
Today
Average Rate
3 Months Ago
Purchase
30-year fixed
2.871%3.113%
Purchase 
15-year fixed
2.327%2.471%
Refinance 
30-year fixed
3.085%3.334%
Refinance 
15-year fixed
2.438%2.686%

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

While mortgage lenders’ requirements have grown significantly stricter in recent years, the COVID-19 pandemic has led to extremely low-interest rates on mortgages. Even a fraction of a percentage point can lead to thousands or tens of thousands of dollars in savings over the term of a mortgage.


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.


December 2020October 2021
Average 30-year fixed rate2.67%2.871%
Average 15-year fixed rate2.17%2.327%

Source - YCharts

Buying a House in 2021

Even under normal conditions, buying a house presents challenges of one sort of another for buyers. Buying a house in 2021 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

A 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

LenderMin. Down PaymentVisit Site
AmeriSave3%View Rates
Quicken Loans3%View Rates
Better.com3%View Rates

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.

AmeriSave Mortgage AmeriSave Mortgage 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.

Quicken Loans Quicken Loans View Rates

better.com

You can get pre-approved for a mortgage in minutes with Better mortgage. There are no origination or lender fees, no commission, and no prepayment penalties. Better allows you to lock in your rate and connects you with a single loan officer once you've finished the pre-approval process. Read the full review.

Better Better View Rates

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.