Top 10 Mortgage Lenders Q3 2011

Recently, LendingTree announced it’s list of the top 10 mortgage lenders.  This list is determined by reviews submitted by consumers who have been using their website to search for and ultimately obtain home loans.

Here is the list of the top 10 mortgage lenders:

• Great Western Financial Services, Inc.
• LSI Mortgage Plus
• Affinity Mortgage, LLC
• HomePlus Mortgage
• Royal United Mortgage
• First Preferred Mortgage
• FirstSouth Mortgage, LLC
• Community Home Lending
• Southwest Direct Mortgage
• Fairway Independent Mortgage Corporation

This list of the top mortgage lenders was compiled from the ratings that consumers have given to all of the lenders that use LendingTree’s system. The votes were tabulated during Q3 2011. While some of the lenders on the list may not be household names, getting on LendingTree’s Top 10 Mortgage Lenders list certainly shows that these lenders do an excellent job of obtaining appropriate loans for people. After all, the list is determined based upon reviews from actual consumers – the people who are looking to obtain loans. Oftentimes, when people feel strongly enough to leave a review, it tends to be a negative review. So the lenders listed above did such a good job for these homeowners, that  they felt the need to leave positive feedback about them. This is a very good sign.Are these the top mortgage lenders? That’s hard to tell, but by getting high scores from actual homeowners, you would have to surmise that these institutions are among some of the best mortgage lenders available to potential homeowners today.

If you would like to consider a home loan, these lenders would be a good place to start. You can either contact each of these lenders directly or you could apply for a home mortgage through LendingTree. Since all of these lenders are affiliated with LendingTree, you could just fill out one application and then have all of these (as well as other) lenders vying for your business.

If you are in the market for a new home or are looking to refinance your existing home mortgage, based upon the rates, there’s no better time than right now. Interest rates on mortgages continued to hover around all-time lows. Interest rates on home mortgages once again moved lower. The national average for a 30-year home loans that were offered by lenders that were part of the LendingTree network were 4.30 percent (4.58% APR) for 30-year fixed mortgages, 3.59 percent (4.03% APR) for 15-year fixed mortgages and 3.24 percent (3.51% APR) for 5/1 adjustable rate mortgages (ARM).

Here is a list of home mortgage rates by state:

STATE-BY-STATE MORTGAGE DATA 11/30/11
        *Updated Quarterly
        STATE                LOWEST MORTGAGE RATE LOAN-TO-VALUE RATIO* NEGATIVE EQUITY*
        US Average           3.75% (3.88% APR) -  69.8%                33.5%
        Alabama              3.75% (3.88% APR) -  68.0%                29.5%
        Alaska               3.75% (3.88% APR) -  65.8%                19.5%
        Arizona              3.75% (3.88% APR) -  93.1%                38.9%
        Arkansas             3.75% (3.86% APR) -  72.3%                43.0%
        California           3.75% (3.88% APR) -  70.0%                34.4%
        Colorado             3.75% (3.88% APR) -  72.3%                22.9%
        Connecticut          3.75% (3.85% APR) -  60.2%                43.4%
        Delaware             3.75% (3.85% APR) -  67.3%                38.8%
        District of Columbia 3.75% (3.88% APR) -  58.6%                26.8%
        Florida              3.63% (3.73% APR) -  87.8%                38.9%
        Georgia              3.75% (3.88% APR) -  80.9%                26.5%
        Hawaii               3.75% (3.88% APR) -  53.9%                27.0%
        Idaho                3.75% (3.88% APR) -  71.7%                30.3%
        Illinois             3.75% (3.86% APR) -  72.4%                32.3%
        Indiana              3.75% (3.93% APR) -  69.4%                28.4%
        Iowa                 3.75% (3.88% APR) -  67.3%                44.2%
        Kansas               3.75% (3.88% APR) -  70.3%                32.2%
        Kentucky             3.75% (3.89% APR)    67.9%                52.7%
        Louisiana            3.75% (3.88% APR) -  75.2%                82.4%
        Maine                3.75% (3.86% APR) -  58.3%                30.7%
        Maryland             3.75% (3.88% APR) -  70.3%                25.9%
        Massachusetts        3.75% (3.86% APR) -  61.9%                47.0%
        Michigan             3.75% (3.88% APR) -  84.0%                33.4%
        Minnesota            3.75% (3.85% APR) -  66.8%                22.7%
        Mississippi          3.75% (3.87% APR) -  78.2%                29.2%
        Missouri             3.75% (3.88% APR) -  71.9%                32.4%
        Montana              3.75% (3.88% APR) -  60.3%                33.9%
        Nebraska             3.75% (3.88% APR) -  73.4%                44.7%
        Nevada               3.63% (3.75% APR) -  112.7%               53.7%
        New Hampshire        3.88% (3.99% APR) -  70.3%                26.2%
        New Jersey           3.75% (3.87% APR) -  62.8%                29.9%
        New Mexico           3.75% (3.88% APR) -  67.9%                45.9%
        New York             3.75% (3.85% APR) -  48.7%                36.0%
        North Carolina       3.75% (4.88% APR) -  71.6%                32.4%
        North Dakota         3.75% (3.88% APR) -  61.1%                36.3%
        Ohio                 3.75% (3.86% APR) -  75.8%                27.5%
        Oklahoma             3.75% (3.86% APR) -  71.8%                50.6%
        Oregon               3.75% (3.88% APR) -  69.8%                19.9%
        Pennsylvania         3.75% (3.84% APR) -  61.1%                42.0%
        Rhode Island         3.75% (3.87% APR) -  63.7%                38.7%
        South Carolina       3.75% (3.86% APR) -  71.5%                28.9%
        South Dakota         3.75% (3.86% APR) -  N/A                  N/A
        Tennessee            3.75% (3.89% APR) -  71.6%                29.9%
        Texas                3.75% (3.88% APR) -  68.1%                31.6%
        Utah                 3.75% (3.88% APR) -  72.9%                22.8%
        Vermont              3.75% (3.88% APR) -  N/A                  N/A
        Virginia             3.75% (3.85% APR) -  71.7%                25.1%
        Washington           3.75% (3.88% APR) -  68.3%                21.7%
        West Virginia        3.75% (3.85% APR) -  66.8%                50.6%
        Wisconsin            3.75% (3.85% APR) -  69.1%                36.0%
        Wyoming              3.75% (3.88% APR) -  63.1%                24.2%

If you are in the market for a home loan, the rates that are being offered right now are incredible. You have never seen rates this low. Naturally, there is no certainty as to which way rates will move in the future, nor can you estimate how long they will remain at their current levels.

Regardless, if you are in the market for a new home loan or are looking to refinance an existing home loan, there’s no better time than the present. Consult your lender of choice or if you are looking for ideas for a lender to work with, you might want to take another look at LendingTree’s list of their Top 10 Mortgage Lenders for Q3 2011, listed above.