We reviewed 12 well-liked lenders based mostly on 16 information factors within the classes of mortgage particulars, mortgage prices, eligibility and accessibility, buyer expertise and the applying course of. We selected one of the best lenders based mostly on the weighting assigned to every class:
- Mortgage value: 35%
- Mortgage particulars: 25%
- Buyer expertise: 20%
- Eligibility and accessibility: 10%
- Software course of: 10%
Inside every main class, we additionally thought-about a number of traits, together with obtainable mortgage quantities, reimbursement phrases and relevant charges. We additionally checked out minimal credit score rating and time in enterprise necessities and the geographic availability of the lender. Lastly, we evaluated every supplier’s buyer help instruments, borrower perks and options that simplify the borrowing course of—like on-line functions, prequalification choices and cell apps.
The place applicable, we awarded partial factors relying on how properly a lender met every criterion.