Before you decide on a home loan company, there are a few essential things you must be aware of. Lenders tend to be overcautious about a borrower’s financial position leading to multiple rounds of repeated scrutiny. They may ask you to verify cash deposits and payrolls as there are restrictions on eligible income. They also may subject your credit reports to greater scrutiny. Inexperienced loan officers could add to stress and delays.

Choose a company with an automated and streamlined process that helps you go through home loans without stress.

Best companies for a hassle-free home loan
Make a list of home loan companies, compare rates, and choose the one that suits you best. Get a preapproval from three of four lenders to get accurate pricing that helps you compare. Start gathering all the required personal and financial documents that lenders require. Read and understand the process so that you may tackle all the barriers that may arise before home loan closure. Choose companies with professional loan officers who are willing to listen and address your concerns. Based on the above factors, the five best companies for hassle-free home loans are:

LenderFi
LenderFi has been rated as one of the top companies that make the experience of buying a home loan a good experience. They ensure borrowers have a hassle-free experience by making quick decisions and reducing stressful waiting times. They keep paperwork to the minimum and close the loan fast. It offers purchase, refinance, fixed, adjustable, and FHA mortgages. LenderFi offers the entire application and documentation process and status updates online. It offers a wide range of rates, and its costs are cheaper than standard fees and administrative costs. They require a minimum 3% down payment and a credit score of 620. The company operates in 45 states and Washington DC.

Better Mortgage
The better mortgage is an online mortgage company that offers a speedy and streamlined process with faster closure. They offer purchase, jumbo, refinance, fixed, and adjustable mortgages. They have an average of 32-day closure for a home loan. They require a minimum of 3% as a down payment and a minimum credit score of 620. They do not charge origination, underwriting, or application fees and offer assistance programs for down payments and closing costs. Since the entire process is automated, it is faster and saves a lot of trouble for tech-savvy borrowers. You can also choose to work with customer support agents.

Guaranteed Rate
Guaranteed Rate is an online mortgage company that allows borrowers to upload and e-sign documents. Documentation is one of the top hassles for home-loan, and Guaranteed Rate’s process is digitized, allowing borrowers to use an interactive checklist. Borrowers can also visit their physical stores if they are uncomfortable with the online option. They offer purchase, Jumbo, refinance, fixed, adjustable, FHA, VA, and USDA mortgages. They stipulate a minimum down payment of 3% and a credit score of 620. They are present in 50 states and offer down payment assistance programs.

Quicken Loans (Rocket Mortgage)
Quicken loans have removed much of the complex paperwork associated with home loans. You can complete the application process online and connect your bank accounts with the application. It can provide an estimate of your loan amount in a few minutes. Their online process is streamlined to reduce the stress of documentation. They offer purchase, refinance, Jumbo, fixed, adjustable, FHA and VA mortgages. Their minimum down payment requirement is 3%, and their credit score requirement is 620.

SoFi Mortgage
SoFi mortgage has a simple process for home loans. You can complete the application online, and their professional loan officers help you personally from down payment until loan closure. You can pre-qualify your home loan online within a few minutes and select a loan that fits your budget and repayment terms. Their rates are competitive, and you can pay a down payment of 5% and a credit score of 680. You can expect loan closure within 30 days, and they do not trouble you for sudden or expected paperwork.