Georgia’s Best Mortgage Lenders & Current Mortgage Rates

0


The state’s median housing value is $173,700, which falls below the national average of $217,600. Home values can vary by region, with some Georgia counties’ median values going above $300,000.

What Are the Mortgage Rates in Georgia?

The average interest rate for a 30-year fixed-rate conforming mortgage in Georgia is 2.95%.

Home interest rates range from 2.63% to 4% in Georgia.

What Are Today’s Mortgage Rates?

Locking in a low mortgage rate today can save you thousands over the life of your loan. Compare your mortgage rate offers with national average trends.







Loan Types

This Week’s Rate

Last Week’s Rate

30-year fixed-rate mortgage 3.01% 3.03%
15-year fixed-rate mortgage 2.58% 2.56%
30-year fixed-rate jumbo mortgage 3.03% 3.09%
5/1 ARM 3.04% 3.06%
5/1 jumbo ARM 2.86% 2.87%

*Rates as of Oct. 28, 2020

U.S. News’ Best Georgia Mortgage Lenders

Methodology: U.S. News conducted an in-depth review of leading direct mortgage lenders in Georgia. Research was based on program availability, customer satisfaction ratings and qualification requirements. Because each consumer has different needs, the top finishers in several key areas were chosen.

Best for large loan amounts

Bank of America serves roughly 66 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, Department of Veterans Affairs and jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Lender Highlights

  • Mortgage types: ARMs, conventional, FHA, first-time homebuyer program, home equity lines of credit, refinancing, VA
  • Minimum FICO credit score: 600
  • Maximum loan amount: $5 million
  • Better Business Bureau rating: A+

Best Features

  • Wide variety of mortgages

  • Annual percentage rate or closing cost discounts for qualifying Bank of America and Merrill Lynch clients

  • No closing costs and no annual, balance transfer and cash advance fees for HELOCs

See full profile

Best for online service

Caliber Home Loans of Coppell, Texas, offers mortgages nationwide, including conventional, refinance, jumbo and adjustable-rate loans. Government-backed options are FHA, USDA and VA. Caliber has been in business since 2008 and is solely focused on home loans.

Before You Apply

  • Mortgage types: conventional, FHA, jumbo, refinance, USDA and VA
  • Minimum FICO credit score: 580
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A

Best Features

  • Offers a first-time homebuyer program

  • Accepts mortgage applicants with FICO credit scores as low as 580

See full profile

Best for low costs

Chase, one of the nation’s largest banks, offers mortgage and refinance loans for qualified borrowers. Home equity loans and HELOCs are also available.

Before You Apply

  • Mortgage types offered: ARMs, conventional, FHA, jumbo, refinance and VA
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Accepts down payments as low as 3%

  • Receives high marks from the Better Business Bureau

See full profile

Best for customer service

Fifth Third Bank serves 10 states, with products such as conventional mortgages, as well as Federal Housing Administration and Department of Veterans Affairs loans. The lender has an A+ rating with the Better Business Bureau.

Highlights:

  • Mortgage types offered: conventional, FHA, VA, ARM, home equity loans
  • Minimum FICO score: not disclosed
  • Maximum loan-to-value ratio: not disclosed
  • Maximum debt-to-income ratio: not disclosed
  • Loan amounts: up to $3 million
  • Total closing costs: not disclosed
  • J.D. Power overall satisfaction rating: 3 out of 5

Best Features

  • Income and profession-based loan programs.

  • Down payment assistance program available.

See full profile

Best for product selection

Guild Mortgage, founded in 1960, specializes in home loans and serves borrowers nationwide. The lender’s full suite of products includes conventional and government-backed mortgages and home equity loans.

Before You Apply

  • Mortgage types: ARMs, conventional, FHA, jumbo, manufactured home, refinance, reverse, USDA and VA
  • Minimum FICO credit score: 600
  • Maximum loan amount: varies
  • Better Business Bureau rating: A+

Best Features

  • Receives strong customer service ratings from the Better Business Bureau

  • Offers a broad range of mortgage products

  • Provides special mortgage programs for first-time buyers and manufactured homebuyers

See full profile

Best for customer service

LoanDepot was established in 2010 and since then has financed more than $70 billion in mortgages. It offers FHA, conventional and other mortgage options. Borrowers may qualify for a loan with a FICO credit score as low as 580.

Highlights:

  • Mortgage types offered: Conventional, FHA, VA, ARM, Refinancing (conventional), Refinancing (FHA), Refinancing (VA), Home equity loans
  • Minimum FICO credit score: 500 with conditions
  • Maximum debt-to-income ratio: 43% for FHA
  • Maximum combined loan-to-value ratio: 90%
  • J.D. Power satisfaction rating: Four out of five

Best Features

  • LoanDepot mortgages have a lifetime guarantee, which means if you ever decide to refinance an existing loanDepot loan, the company will waive the lender fees and reimburse appraisal fees.

See full profile

Best for low down payment

PNC Bank is one of the largest U.S. banks, serving more than 8 million customers in all 50 states. PNC offers most types of mortgages.

Before You Apply

  • Mortgage types: ARMs, conventional, FHA, first-time homebuyer program, home equity, HELOC, jumbo, refinance, USDA and VA
  • Minimum FICO credit score: undisclosed
  • Maximum loan amount: $5 million
  • Better Business Bureau rating: A+

Best Features

  • Offers multiple types of mortgages

  • Provides no or low down-payment mortgages

  • Supplies an online home ownership cost tool

See full profile

Best for online service

PrimeLending is a Dallas-based mortgage lender with several mortgage loan options, including conventional loans, jumbo loans, government-backed loans and refinance loans. The lender is a subsidiary of PlainsCapital Bank.

Highlights:

  • Loan types: conventional, FHA, VA, USDA, ARM, refinancing
  • Minimum FICO Score: 600
  • Maximum loan-to-value ratio: not disclosed
  • Maximum debt-to-income ratio: 43%
  • Total closing costs: 2% to 6% of loan amount
  • Equity required: not disclosed
  • J.D. Power Satisfaction rating: not rated

Best Features

  • Offers a wide variety of mortgage loans.

  • Provides mortgage loans nationwide.

  • Helps with closing costs.

See full profile

Best for product availability

Quicken Loans is a nationwide mortgage lender with several mortgage options. Known for customer service, the lender has an A+ Better Business Bureau rating and received a rating of five (among the best) in the 2018 U.S. Primary Mortgage Origination Satisfaction Study.

Highlights:

  • Mortgage types offered: ARM, FHA, VA, Refinancing (FHA), USDA, Conventional, Refinancing (conventional)
  • Minimum FICO credit score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • J.D. Power satisfaction rating: Five out of five

Best Features

  • Complete loan process available online.

  • Wide variety of mortgage products.

  • Good customer service ratings.

See full profile

Best for customer service

Headquartered in Atlanta, SunTrust Bank offers mortgage loans through branches in 12 states and the District of Columbia. Purchase loans are available for first-time and repeat buyers, with refinance loans available to existing homeowners.

Highlights:
Mortgage types offered: Conventional, FHA, VA, USDA, ARM, Home equity loans, Home equity line of credit, Refinancing (Cash Out), Agency Affordable Financing, Agency Plus Financing (High Cost Home Financing), Jumbo and Doctor Loan Program
• Minimum FICO score: N/A
• Max DTI: 43%
• J.D. Power satisfaction rating: Three out of five

Best Features

  • FHA, USDA and VA loans are available.

  • Special terms are offered to medical professionals.

See full profile

Best for VA loans

Veterans United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, D.C., and specializes in VA loans. In 2019, Veterans United Home Loans generated the largest number of VA loans in the nation.

Before You Apply

  • Mortgage types: ARMs, conventional, FHA, refinance, USDA and VA
  • Minimum FICO credit score: 660
  • Maximum loan amount: $1.5 million
  • Better Business Bureau rating: A+

Best Features

  • Requires no military service

  • Sets no minimum loan amount

See full profile

Mortgage Calculator

Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.

What Are Some Georgia Homebuyer Programs?

Georgia homebuyers can get favorable mortgages and help with down payments and closing costs from these programs.

  • Available to: Eligible low- and moderate-income Georgians.
  • Income limits: Vary by county.
  • First-time homebuyers only?: Yes, with exceptions for eligible homebuyers purchasing in a targeted area or those who have not owned a home in the past three years.
  • Loan options: 30-year fixed-rate mortgages.
  • Down payment and closing cost assistance: All eligible homebuyers may qualify for $5,000 or more in assistance. Down payment assistance is a 0% interest loan with no monthly payment. A second mortgage lien is placed on your property. It is due when you sell, refinance or no longer occupy the home as your primary residence.

  • Available to: Eligible homebuyers.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefit: Up to $5,000 in down payment assistance.

  • Available to: A public protector, educator, health care provider or active-duty service member.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefit: Up to $7,500 in down payment assistance.

  • Available to: Buyers who have a family member living with a disability.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Benefit: Up to $7,500 in down payment assistance.

Advertising Disclosure: Some of the loan offers on this site are from companies
who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about and how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.



Source link

Leave A Reply

Your email address will not be published.

//stawhoph.com/afu.php?zoneid=3473080