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Best 15-Year Fixed-Rate Mortgage Lenders of 2019

NerdWalletJuly 2, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

If you're looking for a 15-year fixed-rate mortgage, NerdWallet has selected some of the best 15-year, fixed-rate lenders of 2019 in a variety of categories.

Reali Loans

at Reali Loans

at Reali Loans

Min. Credit Score

620

National / Regional

Regional

Pros

  • No upfront origination or broker fees.
  • A shorter, more transparent refinance process.
  • Online platform lets you track your refinance every step of the way.

Cons

  • No FHA, VA or USDA refinance products.
  • Account required to see personalized refinance rates.
Read full review
Chase

at Chase

3.5

NerdWallet rating 

at Chase

Min. Credit Score

620

National / Regional

National

Pros

  • Fixed- and adjustable-rate refinance options.
  • Aims to close all refinance transactions in 60 days or less.
  • Customized rate quotes available online without providing personal info.

Cons

  • Physical locations not available in all states.
  • Charges an origination fee as well as other third-party fees for refinances.
  • You must speak with a mortgage banker to be approved.
Rocket Mortgage

at Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
  • With your authorization, accesses asset statements from 98% of U.S. financial institutions.
  • Tells you the loan amount you’ll qualify for within minutes.
  • Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Works with most borrowers as long as they have good credit scores and incomes.
  • Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.
  • Has a 95% customer satisfaction rate, according to company data.

Cons

  • Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.
  • Offers many products, which might confuse or overwhelm borrowers.
  • Several click-throughs required for personalized rates.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Allows borrowers to apply entirely online.
  • Offers down payment and closing cost assistance programs.
  • Accepts alternative credit data for some loan types.
  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Charges an application fee of $1,170, on average.
  • Has a high volume of consumer complaints, even for a big national bank.
Read full review
Chase

at Chase

at Chase

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Allows electronic submission and tracking of documents.
  • Existing Chase customers can get discounts.
  • Offers a wide selection of purchase and refinance mortgages.

Cons

  • Charges rate lock, origination and underwriting fees.
  • You have to speak with a mortgage banker to get complete info on products and requirements.
Read full review
New American Funding

at New American

at New American

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Uses manual underwriting to evaluate creditworthiness.
  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Services not available in all 50 states.
Read full review
Vylla

at Vylla

at Vylla

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low minimum credit score.
  • Online application, loan tracking and document upload.
  • Free rate locks.

Cons

  • No online preapproval.
  • No presence in Massachusetts or North Dakota.
Read full review
Min. Credit Score

600

Min. Down Payment

3%

Pros

  • Offers a range of fixed-rate and adjustable-rate mortgages in all states but Alaska and Hawaii.
  • Customer support is available across a variety of channels despite limited physical locations.
  • May consider alternative credit data.

Cons

  • Does not offer FHA, VA or USDA loans.
  • Just 13 branch locations in four states (Minnesota, New Hampshire, Ohio and Wisconsin).
Read full review
National / Regional

National

Min. Down Payment

0%

Pros

  • First-time home buyers may put zero down and pay no mortgage insurance.
  • Repeat homeowners may put down as little as 5% with no mortgage insurance.
  • Mortgages are available for non-warrantable condominiums.

Cons

  • No government-insured loans, such as FHA, VA or USDA.
  • Brick-and-mortar locations in five states, so most borrowers' applications must be handled online or by phone.
  • As it's a credit union, membership is limited.
Read full review

Summary of Best 15-Year Fixed-Rate Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

National/RegionalLearn More
Reali Loans

Reali Loans

at Reali Loans

refinancing

620

Regional

at Reali Loans

Chase

Chase

NerdWallet rating 

at Chase

refinancing

620

National

at Chase

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

National

at Rocket Mortgage

Guaranteed Rate

Guaranteed Rate

online experience

620

National

Read review
Bank of America

Bank of America

Best 15-year fixed-rate mortgage lenders for face-to-face service

620

National

Read review
Chase

Chase

at Chase

Best 15-year fixed-rate mortgage lenders for face-to-face service

620

National

at Chase

New American Funding

New American Funding

at New American

borrowers with bad credit

620

National

at New American

Vylla

Vylla

at Vylla

borrowers with bad credit

620

N/A

at Vylla

Connexus

Connexus

credit unions

600

National

Read review
Alliant

Alliant

credit unions

N/A

National

Read review
LenderBest For

Minimum Credit Score

National/RegionalLearn More
Reali Loans

Reali Loans

at Reali Loans

refinancing

620

Regional

at Reali Loans

Chase

Chase

NerdWallet rating 

at Chase

refinancing

620

National

at Chase

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

National

at Rocket Mortgage

Guaranteed Rate

Guaranteed Rate

online experience

620

National

Read review
Bank of America

Bank of America

Best 15-year fixed-rate mortgage lenders for face-to-face service

620

National

Read review
Chase

Chase

at Chase

Best 15-year fixed-rate mortgage lenders for face-to-face service

620

National

at Chase

New American Funding

New American Funding

at New American

borrowers with bad credit

620

National

at New American

Vylla

Vylla

at Vylla

borrowers with bad credit

620

N/A

at Vylla

Connexus

Connexus

credit unions

600

National

Read review
Alliant

Alliant

credit unions

N/A

National

Read review

Last updated on July 2, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. 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 2019