last updated 18 Nov 2018

Best Mortgage Companies:
How to Find the Cheapest Mortgage When Rates Are Rising | Consumer Reports
Basic rule is shop around 3-5 quotes is good:


Personal factors in geting a lower rate:
Some of the things that will get you a lower rate:

Type of Lender:
National, Local, Credit Union, online lenders like Quicken.
National banks Bank of America, Wells Fargo, Chase are usually slower and more difficult to deal with.
In 2013, Datatrac analyzed the average interest rate differences between credit unions and banks. When it came to car loans, banks' interest rates were about two percent higher. When it came to mortgages, rates were very similar.

The smaller lenders like Optimum First Mortgage list lower rates (e.g. 4.5% in Nov. 2018)(Because of volume discounts, they claim) and faster closing times.
A typical Commercial Bank and Credit union had rates of around 4.8%.

For the next few years, technological disruption, increased regulation, changing consumer behaviors, and asset growth will be topics of constant discussion for credit union leaders.

Source Filene Research Institute

Banks are getting away from mortgages and places like Quicken Loans are becoming more popular.


Lender Reviews:
At Mortgage Lenders - Reviews & Ratings - Bankrate.com they customer reviews of lenders on a scale of 1-5.
The following lenders got a 4.8-5.0 score with 100 or more reviews:
McGlone Mortgage Group
First Internet Bank
E-Click Lending
Optimum First Mortgage Inc.
JG Wentworth Home Lending
Aurora Financial
LoanLock
Northpointe Bank
Highest rated Banks and Savings & loans
x.x - Rating; (yy)- Number of reviews

Third Federal Savings and Loan 4.2 (67)
PNC Bank 4.7 (27)

Sample Rates:
Refinance a mortgage on a $500,000 single family home with a $160,000 mortgage principal balance and get $60,000 out in cash. 30 yr. fixed rate.
Note: When you enter your date in a place like BankRate or Investopedia, the results you get different results than you do by talking to a sales representative. Lender rate APR Fees Points Payment Quicken 5.0% $5,900 1.5 $1215 Agent quote quickenloans Optimum First Mtg. 4.25% 4.45% $1,975 $1,082 BestRate Republic bankrate 4.375% 4.57% $895 BestRate
A mortgage broker may be able to get you better rates.
See Find A Mortgage Broker. Links:
Bankrate.com - Compare mortgage, refinance, insurance, CD rates | bankrate.com
What Are the Main Types of Mortgage Lenders? | Investopedia
How to Find the Cheapest Mortgage When Rates Are Rising | Consumer Reports
Seven factors that determine your mortgage interest rate | Consumer Financial Protection Bureau