When you go to buy a house, unless you’re paying it all in cash, you’ll likely need to take out a mortgage. A mortgage is simply a loan from the bank that you’ll need to repay over time. Typically you will put up 20% of the total price (the down payment), and the bank will provide you with the remaining 80%. So if you’re buying a $1 million home, this means you’ll need to go $200,000 out of pocket, and the bank will give you a mortgage loan of $800,000.
– PNC Bank – As one of the largest U.S. banks, PNC offers the largest variety of mortgages and even supplies some mortgage options that require no down payment. – AmeriSave – Also known as AmeriSave Mortgage Corp., AmeriSave offers homebuyers FHA, VA, USDA loans, and more. – Freedom Mortgage – If you have a decent (but not great) credit score, you’ll want to check out Freedom Mortgage. – Bank of America – When going through the mortgage process, you want someone who will be with you every step of the way. Bank of America is famous for having the best face-to-face service out of all big banks.