During the recent mortgage crisis in our country many changes have been made in how many banks are doing business. Many large banks have become skeptical about making large loans to anyone. Some larger banks have been able to gain a larger share of the mortgage market while others have not been as successful.

The leading lender in the United States is Wells Fargo & Co. They have merged with Wachovia Corp. and this helps to secure their top position even more because of the increase that this merger brought to the business. Wells Fargo & Co. has continued to make loans during the current recession and seems to be barely affected by the poor economy.

There heaps other large advance lenders in the US as well such as, Bank of America that comes in number two but they are still struggling to overcome the acquisition of Countrywide Financial Corp. JPMorgan & Co. and Washington Mutual Bank seemed to see a good hit from the downed family but are still in the top 5 prime finance lenders.

Perhaps some of the real estate commercials are right, now is the time to buy. If not buy, at least refinance an existing mortgage because there are indeed mortgage companies out there that surviving the current economy and are actually willing to give out mortgages. The following is a select list of companies giving mortgages: Wells Fargo, Bank of America, Citigroup, JP Morgan, OneWest Bank, ResCap, PNC, and others.

While the big mortgage companies can offer you more loan programs and possibly a larger loan, there are smaller companies out there that are still in the game. They might be worth a look; especially if your credit rating has, shall we say, a few blemishes. It?s all well and good that the big companies have all these programs, but what good are these programs if the big companies don?t want to deal with you because of your imperfect credit. Smaller companies are generally a little more forgiving than their larger counterparts.

If you are looking for a mortgage finance you do not necessarily have to go with the major circle, there are many small companies out there that can present you the same great rates and the same finance programs. You will have a larger medley of finance programs from the big guys and you may even be able to attain a larger lend but the small guys might be willing to overlook some glory flaws where the top ten companies will have no yearning to work with you at all.

You should make sure that your credit is in great shape in order to receive the best mortgage loan possible. Before approaching a lender you should check your credit report to see that there are no errors and if you find any you should work to get them corrected. It is also of the utmost importance to pay all of your bills in a timely manner. This helps to keep your credit score high, along with other factors. Most of the large banks will not work with you unless you have a near perfect credit score. Many smaller institutions will be willing to work with you if you have a less than perfect credit score but if this is the case, you should be prepared to pay a higher interest rate.

Graham McKenzie is the content coordinator for a leading South African leading Home loans and Bond Origination portal which provides access to ABSA Home loans.

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