BEST OF
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.
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.
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
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for online experience | 620 | 3% | at Rocket Mortgage by Quicken Loans | |
Best for borrowers with bad credit | 620 | 3% | at New American Funding | |
Best for online experience | 620 | 3% | at Guaranteed Rate | |
Best for refinancing | 620 | 5% | at Reali Loans | |
Best for refinancing | 620 | 3% | at Chase | |
Best for Best 15-year fixed-rate mortgage lenders for face-to-face service | 620 | 3% | Read review | |
Best for Best 15-year fixed-rate mortgage lenders for face-to-face service | 620 | 3% | at Chase | |
Best for credit unions | 640 | 3% | Read review | |
Best for credit unions | N/A | 3% | Read review |
at Rocket Mortgage by Quicken Loans
at Rocket Mortgage by Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
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.
at New American Funding
at New American Funding
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
- Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
Min. Down Payment
3%
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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at Reali Loans
at Reali Loans
Min. Credit Score
620
National / Regional
Regional
Pros
- Offers a completely online application process.
- Provides customized rate quotes online.
Cons
- No FHA, VA or USDA refinance products.
- Available only in a dozen states.
at Chase
at Chase
Min. Credit Score
620
National / Regional
National
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.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Allows borrowers to apply entirely online.
- Offers down payment and closing cost assistance programs.
- May give existing customers a discount on mortgage lender origination fees.
Cons
- Does not offer renovation loans.
at Chase
at Chase
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
640
Min. Down Payment
3%
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.
National / Regional
National
Min. Down Payment
3%
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.
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
- Rocket Mortgage by Quicken Loans: Best for online experience
- New American Funding: Best for borrowers with bad credit
- Guaranteed Rate: Best for online experience
- Reali Loans: Best for refinancing
- Chase: Best for refinancing
- Bank of America: Best for Best 15-year fixed-rate mortgage lenders for face-to-face service
- Chase: Best for Best 15-year fixed-rate mortgage lenders for face-to-face service
- Connexus: Best for credit unions
- Alliant: Best for credit unions
