Best of
Best Atlanta Mortgage Lenders of 2019
NerdWalletJuly 2, 2019
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Atlanta mortgage lenders serve a massive real estate market. NerdWallet has narrowed the field to the best lenders for borrowers of varying needs.
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.
Pros
- Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.
- Instantly verifies employment and income for more than 60% of working Americans.
- Offers custom fixed-rate loan terms that are between eight and 30 years.
- Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.
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%
Ideal for first-time home buyers, including those with little money saved for a down payment. SunTrust's online portal offers information and tools in English and in Spanish.
Pros
- Offers a complete online suite of mortgage application tools and loan tracking.
- Has plenty of loan options to choose from and competitive interest rates.
- Provides customer service in its physical locations, online, via chat and by phone.
- Has a Doctor Loan Program for medical professionals who have high earning potential but little cash for down payments.
Cons
- Has a limited number of physical branch locations in 11 states and Washington, D.C.
- Does not consider alternative scoring data, such as rent or utility payments, in standard underwriting.
National / Regional
National
Min. Down Payment
3%
Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.
Pros
- A robust suite of loan products.
- Licensed in all 50 states.
- Close in as little as 10 days using the Fairway app.
Cons
- Limited branch locations.
- Mortgage rates not posted on website.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.
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 loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.
Pros
- Offers digital income, asset and employment verification.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
at New American
at New American
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and seeks borrowers whose credit histories don't fit the mold of traditional banking.
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.
National / Regional
National
Min. Down Payment
0%
Ideal for military members and their families. Navy Federal Credit Union offers a wide range of mortgage products, an online application and considers alternative credit data for certain loan types.
Pros
- Wide range of affordable mortgage products designed for military members.
- Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
- Lower minimum loan amounts than many other lenders.
- Online application for preapproval with quick decision.
- $1,000 mortgage rate match program.
- Operates nationwide.
Cons
- Charges application and underwriting fees.
- Origination charge on a typical conventional loan is 1% of the loan amount.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Participates in some state down payment assistance programs.
- Offers educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
Cons
- No mortgage rates displayed online.
- Must work with a loan officer for pre-qualification and preapproval.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.
Pros
- Works with loan programs offered by state and local housing agencies.
- Specializes in mortgages for first-time home buyers.
- Almost half of its loans are low-down-payment government mortgages.
- Considers alternative credit, such as history of payments on rent and utilities.
Cons
- With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
- Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for those who appreciate the full-service experience of a leading regional bank. Flagstar offers a full menu of fixed and adjustable home loans and mortgage refinancing, as well as jumbo loans and home equity financing.
Pros
- Embraces FHA-backed home loans.
- Offers three construction loans.
- A professional loan package is tailored for the needs of doctors, lawyers, architects and certified public accountants.
- Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
- Offers home equity loans and home equity lines of credit.
Cons
- Charges an average $1,000 origination fee.
Summary of Best Atlanta Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Quicken Loans at Quicken Loans | mobile experience | 620 | 3% | at Quicken Loans |
 SunTrust | first-time home buyers | 620 | 3% | Read review |
 Fairway | a wide selection of loan products | N/A | 3% | Read review |
 Bank of America | in-person service | 620 | 3% | Read review |
loanDepot at loanDepot | customer service | 620 | 3.5% | at loanDepot |
New American Funding at New American | borrowers with nontraditional credit | 620 | 3% | at New American |
 Navy Federal | military-connected borrowers | N/A | 0% | Read review |
 Caliber | first-time home buyers | 620 | 3% | Read review |
 Guild Mortgage | borrowers needing down payment assistance | 620 | 3% | Read review |
 Flagstar | refinancing | 620 | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Quicken Loans at Quicken Loans | mobile experience | 620 | 3% | at Quicken Loans |
SunTrust | first-time home buyers | 620 | 3% | Read review |
Fairway | a wide selection of loan products | N/A | 3% | Read review |
Bank of America | in-person service | 620 | 3% | Read review |
loanDepot at loanDepot | customer service | 620 | 3.5% | at loanDepot |
New American Funding at New American | borrowers with nontraditional credit | 620 | 3% | at New American |
Navy Federal | military-connected borrowers | N/A | 0% | Read review |
Caliber | first-time home buyers | 620 | 3% | Read review |
Guild Mortgage | borrowers needing down payment assistance | 620 | 3% | Read review |
Flagstar | refinancing | 620 | 3% | Read review |
» MORE: See the best Georgia mortgage lenders
Local mortgage lenders in Atlanta
If you want to include a local lender or two in your search for the best mortgage, these Atlanta lenders are among the highest-volume mortgage underwriters in the city, though they have not been reviewed by NerdWallet.
Fidelity Bank Mortgage
- Established in 1974 and claims to be the largest community bank in metro Atlanta.
- Services home loans after closing, rather than selling them off to a third party to collect.
- Offers a first-time home buyer grant for down payment and closing-cost assistance.
BankSouth Mortgage
- Based in Buckhead, with branches throughout Georgia.
- A mobile app allows you to apply for a mortgage, scan documents and track your loan status.
- Offers conventional loans, as well as all government-backed mortgages and construction/renovation loans.
Homestar Financial
- A Georgia-born lender with about 80 branch offices in the Southeast.
- A wide variety of loan offerings, including 203(k) renovation loans, jumbos and government-backed mortgages, in addition to conventional loans.
- Jumbo loans available for up to $5 million on nearly all property types, including first and second homes.
Southeast Mortgage
- Claims to be the largest nonbank lender in Georgia.
- Processing, underwriting and document preparation are all based in Atlanta.
- Seven offices across Georgia, with four in Atlanta and another eight offices in surrounding states.
More from NerdWallet
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 Atlanta Mortgage Lenders of 2019
- Quicken Loans: Best for mobile experience
- SunTrust: Best for first-time home buyers
- Fairway: Best for a wide selection of loan products
- Bank of America: Best for in-person service
- loanDepot: Best for customer service
- New American Funding: Best for borrowers with nontraditional credit
- Navy Federal: Best for military-connected borrowers
- Caliber: Best for first-time home buyers
- Guild Mortgage: Best for borrowers needing down payment assistance
- Flagstar: Best for refinancing
