A basic guide to reviewing mortgage lenders

by Kevin Kelleher 05/12/2025

Factors to consider when reviewing mortgage lenders featured image

Before purchasing your home, you may find yourself searching in the market for mortgage loans. Finding a good mortgage lender can help you solidify the funding needed to secure a home and can help to simplify some aspects of the homebuying journey. 

How does a mortgage work?

So, what exactly is a mortgage? A mortgage is a loan with terms often ranging from 10 to 30 years in which a borrower is awarded financing to purchase a residential property. Monthly payments of a mortgage loan go towards the principal balance, mortgage insurance, property tax and interest rates. 

Tell me the minimum credit score required for a home loan?

On average, many mortgage lenders offering conventional loans require a credit score of at least 620 to demonstrate good credit history. Loan types such as FHA loans do allow borrowers to qualify with lower credit scores; however, this often comes with higher interest rates and a larger down payment requirement. 

If you’re in need of a larger mortgage, you may be considering applying for jumbo loans. Due to the higher amount of financing being borrowed, the average credit score needed to qualify for a jumbo loan is around 700. 

Review methodology

As you compare and review different mortgage lenders and loan types, there are a few great factors to consider to narrow down your search: 

  • Do they offer lower interest rates? 
  • Do they have good costume reviews regarding communication and integrity? 
  • What fees do they charge in connection with taking out a loan? 
  • Do they have local servicing? 

By reviewing your credit history and doing research on



About the Author
Author

Kevin Kelleher

What sets me aside from other agents is my extensive knowledge and experience. I started out as a young man in construction, learning everything from anyone that could teach me, so before long I had my own company as a remodeling contractor. I then specialized in historical renovations, before long I had the pleasure of working on great jobs with great clients for over 30 years. For the past 12 years, I have been enjoying the process of assisting my faithful clients with real estate transactions. My knowledge of houses has given my clients a huge advantage when viewing properties and what is needed when selling. I have always enjoyed working with people and helping them in probably the largest investment they will make. I hope you will give me the chance to show you that honesty and hard work does pay off in the end whether you're buying or selling.