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9 Best 15-Year Fixed-Rate Mortgage Lenders of 2021

If you're looking for a 15-year fixed-rate mortgage, NerdWallet has selected some of the best 15-year, fixed-rate lenders of 2021 in a variety of categories.

NerdWalletJan 28, 2021

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While 30-year fixed-rate loans are the most common type of mortgage, some home buyers seek a 15-year mortgage with a lower interest rate, which can provide major savings over the life of the loan. The tradeoff is that the monthly payments are higher due to the shorter loan term.

If you can handle the larger payment, browse NerdWallet’s selection of some of the best national mortgage lenders for 15-year loans to help you choose the best one for your needs.

Summary of Best 15-Year Fixed-Rate Mortgage Lenders of 2021

Rocket Mortgage by Quicken Loans
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at Rocket Mortgage by Quicken Loans

Rocket Mortgage by Quicken Loans: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage by Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at Rocket Mortgage by Quicken Loans

Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

Read Full Review
New American Funding
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at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
New American Funding

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at New American Funding

Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness, in some cases.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.

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Guaranteed Rate
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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. Credit Score

620

Min. Down Payment

3%
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at Guaranteed Rate

Why we like it

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

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Reali Loans
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at Reali Loans

Reali Loans: NMLS#991397

4.0

NerdWallet rating 
Reali Loans

Min. Credit Score

620

National / Regional

Regional
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at Reali Loans

Why we like it

Good for: borrowers looking for an online mortgage application experience.

Pros

  • Offers a completely online application process.

  • Posts current interest rates for purchase and refinancing.

  • Provides customized rate quotes online.

Cons

  • No FHA, VA or USDA refinance products.

  • Available only in a dozen states.

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Chase
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at Chase

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

Min. Credit Score

620

National / Regional

National
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at Chase

Why we like it

Good for: refinancers who want a name-brand bank, with offices in more than half the states, that charges lower rates and fees than many other lenders.

Pros

  • Fixed- and adjustable-rate refinance options.

  • Customized refinance rate quotes available online without providing personal info.

Cons

  • You have to speak with a home loan advisor to complete the application.

Read Full Review
Bank of America
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Bank of America: NMLS#399802

4.5

NerdWallet rating 
Bank of America

Min. Credit Score

620

Min. Down Payment

5%

National / Regional

National
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National / Regional

National

Why we like it

Good for: first-time home buyers looking for low-down-payment options and existing customers who may get a discount on fees.

Pros

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees.

  • Offers home equity line of credit, or HELOC.

Cons

  • Doesn't offer renovation loans that roll costs into a mortgage.

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Chase
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at Chase

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at Chase

Why we like it

Good for: borrowers who want a name-brand bank, with offices in more than half the states, that charges lower rates and fees than many other lenders.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

Read Full Review
Connexus
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Connexus: NMLS#649316

4.0

NerdWallet rating 
Connexus

Min. Credit Score

640

Min. Down Payment

3%
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Why we like it

Connexus boasts low-down-payment conventional loans and makes mortgage rate information readily accessible online, but doesn't offer government-backed mortgages.

Pros

  • Offers a range of fixed-rate and adjustable-rate mortgages in most states.

  • Displays sample rates for its entire array of loan products, and you don't need to provide personal information to get a custom rate quote.

Cons

  • Doesn't offer FHA, VA or USDA loans.

  • Lacks document upload and online loan tracking capabilities.

Read Full Review
Alliant
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Alliant: NMLS#197185

4.5

NerdWallet rating 
Alliant

National / Regional

National

Min. Down Payment

3%
Read review

Why we like it

Good for: first-time home buyers who want to avoid mortgage insurance and prefer a digital application process.

Pros

  • Low- or no-down-payment options with no mortgage insurance.

  • Mortgages are available for non-warrantable condominiums.

Cons

  • Does not offer government-backed mortgages, like FHA and VA loans.

  • Does not offer renovation mortgages.

Read Full Review

Last updated on January 28, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best 15-Year Fixed-Rate Mortgage Lenders of 2021