Best of
Best 15-Year Fixed-Rate Mortgage Lenders of 2019
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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.
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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.
at Chase
3.5
NerdWallet ratingat 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.
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.
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.
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.
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.
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.
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.
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).
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.
Summary of Best 15-Year Fixed-Rate Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | National/Regional | Learn More |
|---|---|---|---|---|
Reali Loans at Reali Loans | refinancing | 620 | Regional | at Reali Loans |
Chase NerdWallet rating at Chase | refinancing | 620 | National | at Chase |
Rocket Mortgage at Rocket Mortgage | online experience | 620 | National | at Rocket Mortgage |
 Guaranteed Rate | online experience | 620 | National | Read review |
 Bank of America | Best 15-year fixed-rate mortgage lenders for face-to-face service | 620 | National | Read review |
Chase at Chase | Best 15-year fixed-rate mortgage lenders for face-to-face service | 620 | National | at Chase |
New American Funding at New American | borrowers with bad credit | 620 | National | at New American |
Vylla at Vylla | borrowers with bad credit | 620 | N/A | at Vylla |
 Connexus | credit unions | 600 | National | Read review |
 Alliant | credit unions | N/A | National | Read review |
| Lender | Best For | Minimum Credit Score | National/Regional | Learn More |
|---|---|---|---|---|
Reali Loans at Reali Loans | refinancing | 620 | Regional | at Reali Loans |
Chase NerdWallet rating at Chase | refinancing | 620 | National | at Chase |
Rocket Mortgage at Rocket Mortgage | online experience | 620 | National | at Rocket Mortgage |
Guaranteed Rate | online experience | 620 | National | Read review |
Bank of America | Best 15-year fixed-rate mortgage lenders for face-to-face service | 620 | National | Read review |
Chase at Chase | Best 15-year fixed-rate mortgage lenders for face-to-face service | 620 | National | at Chase |
New American Funding at New American | borrowers with bad credit | 620 | National | at New American |
Vylla at Vylla | borrowers with bad credit | 620 | N/A | at Vylla |
Connexus | credit unions | 600 | National | Read review |
Alliant | credit unions | N/A | National | Read review |
More from NerdWallet
Last updated on July 2, 2019
Methodology
To recap our selections...
NerdWallet's Best 15-Year Fixed-Rate Mortgage Lenders of 2019
- : Best for refinancing
- : Best for refinancing
- : Best for online experience
- Guaranteed Rate: Best for online experience
- Bank of America: Best for Best 15-year fixed-rate mortgage lenders for face-to-face service
- : Best for Best 15-year fixed-rate mortgage lenders for face-to-face service
- : Best for borrowers with bad credit
- : Best for borrowers with bad credit
- Connexus: Best for credit unions
- Alliant: Best for credit unions
