Top 5 FHA Lenders in Delaware 2019
If you’re interested in getting a home loan in Delaware, you won’t be short of options. Delaware currently has a population of slightly over 960 thousand, and, since interest rates are still extremely low, it could be a perfect time to purchase a home. Across the state, home values barely dipped by 0.4 percent between December 2017 and December 2018.
However, since home values are estimated to rise by almost 7% in the next year, both experienced and first-time home buyers will want to do everything they can to reduce their housing expenses. This starts with getting a great mortgage. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.
In this article, we’ll review the best FHA approved lenders in Delaware and how they can help guide you on your quest to home ownership.
2019 Delaware FHA Lender Best Picks
Best for First Time Home Buyers: Bank of America
Best Online Experience: Embrace Home Loans, Inc
Best Local Lender: AnnieMac Home Mortgage
Best Face-to-Face Experience: J P Morgan Chase Bank
Best Overall Performance: Caliber Home Loans
#1 Delaware FHA Lender: AnnieMac Home Mortgage
While headquartered in Mount Laurel, N.J., AnnieMac Home Mortgage provides FHA, VA, Fannie Mae, and Freddie Mac loans throughout the nation. AnnieMac Home Mortgage is a mid-sized lender, with around 200 direct employees, but over 1,000 affiliate workers around the U.S. And, while AnnieMac Home Mortgage is relatively new, having been founded only in 2010, it has one of the highest ratings on Zillow, which could make it an attractive choice for both first-time and experienced FHA loan borrowers in the state of Delaware.
#2 Delaware FHA Lender: Bank of America
A veritable banking giant, Bank of America is typically one of the first places any home buyer would discuss financing a home purchase. Even so, it is incredibly rewarding when such a large company can still focus on the wants and needs of each individual client, and get them the perfect mortgage loan.
Bank of America would not be where it is today if it was lacking in such things as customer care or knowledgeable loan officers. Interestingly, Bank of America is able to combine its impressive clout in the finance industry with personalized consultation, round-the-clock service, and vast resources of both funding and information.
The result? A mortgage transaction that is as painless as one can be, and a mortgage loan that is just the right fit.
#3 Delaware FHA Lender: Embrace Home Loans, Inc
The team over at Embrace Home Loans really knows how to take the fear out of the mortgage process. They take great pride in their singular focus of providing high-quality and affordable home loans to the home buyers that give them their trust.
Embrace Home Loans is home to loan officers who never withhold options from their clients. Every single step and every single action gets explained in full, and if there are any questions, you can bet they will be answered before anyone signs anything into action.
Dozens upon dozens of past clients have attested to the fact that the loan officers of Embrace home loans truly care about securing a home loan with terms and rates that are satisfactory to the borrower. And they manage to do this without incurring any stress or hold-ups during the mortgage transaction.
#4 Delaware FHA Lender: J P Morgan Chase Bank
Chase Bank is a big name both in and out of the home finance industry. Throughout the region, Chase is highly commended by previous clients as being an incredible mortgage lender, who gets the job done as advertised.
Finding a nationally acclaimed bank on a top 5 list shouldn't come as that much of a surprise, but when it comes to mortgage, often times the larger institutions are less willing to go above and beyond for home buyers. Luckily, Chase is the exception.
Chase has countless years of experience with and an impressive volume of FHA mortgages under its belt. Home buyers can expect personalized service and readily available advisers while working with the financial giant.
#5 Delaware FHA Lender: Caliber Home Loans
A relative newcomer to the home finance market, Caliber Home Loans truly hit the ground running -- at top speed. For a company that has only been around since 2013, Caliber has made quite a reputation for itself as one of the top FHA lenders in the region.
The Caliber team is often lauded for their knowledge and sincerity during the mortgage transactions that they conduct. Getting an FHA loan can be particularly stressful, but the loan officers at Caliber don’t leave any stone un-turned when it comes to keeping their borrowers informed and making sure home buyers are in complete control of their home loan decisions.
Home buyers can count on concise, and rapid responses to any questions that may come up during the mortgage process. With their new app, the mortgage preapproval and application process has been made even easier! A stunning dedication to providing home buyers with mortgage loans that are affordable and align with their goals is evident with the glowing pool of user reviews since Caliber’s birth only 6 years ago.
Shop Around Before You Get a Delaware FHA Loan
Our picks for the best FHA lenders in Delaware may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!