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10 Best Atlanta Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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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.

Atlanta mortgage lenders cater to a massive real estate market that's home to the employees of more than a dozen Fortune 500 companies, including Home Depot, UPS, Coca-Cola and Delta Air Lines. In a city with diverse and growing employment, national mortgage makers, regional players and online lenders vie for the business of a broad array of home buyers.

» MORE: Find out about Georgia first-time home buyer programs

NerdWallet has researched the offerings of the leading mortgage providers by loan volume in Atlanta and picked the best in different borrower categories. We dug even deeper and found top local lenders as well.

Summary of Best Atlanta Mortgage Lenders of 2020

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at Quicken Loans

Quicken Loans: NMLS#3030

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Min. Credit Score

620

Min. Down Payment

3%

at Quicken Loans

Why we like it

Good for: borrowers looking for just about all of 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 many working Americans.

  • Offers custom fixed-rate loan terms that are between eight and 30 years.

  • Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.

Cons

  • Quicken Loans doesn't offer home equity loans or HELOCs.

  • Quicken's lender fees can be stout and they don't offset those fees with particularly low mortgage rates.

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SunTrust: NMLS#2915

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Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.

Pros

  • Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.

  • Offers a complete suite of online mortgage application tools and loan tracking.

  • Sample rates and fees are easy to find on the website.

Cons

  • Customized rates aren't available online without starting an application.

  • Branches are limited mostly to the Southeast.

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at Fairway

Fairway Independent Mortgage: NMLS#2289

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Min. Credit Score

620

Min. Down Payment

3%

at Fairway

Why we like it

Good for borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

  • Offers a robust suite of loan products, including a variety of renovation loans.

  • Has a digital application that can be completed in 10 minutes.

  • Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

  • Mortgage rates aren't posted online.

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Bank of America: NMLS#399802

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

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.

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

Cons

  • Does not offer renovation loans.

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at loanDepot

loanDepot: NMLS#174457

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Min. Credit Score

620

Min. Down Payment

5%

at loanDepot

Why we like it

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.

  • Offers multiple renovation loan options.

  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Does not offer home equity loans or lines of credit.

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at New American

New American Funding: NMLS#6606

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Min. Credit Score

700

Min. Down Payment

3%

National / Regional

National

at New American

Why we like it

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 helps 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.

  • Home equity lending sets it apart from most non-bank lenders.

Cons

  • Services not available in all 50 states.

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Navy Federal: NMLS#399807

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National / Regional

National

Min. Down Payment

0%

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Why we like it

Good for: Military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products designed for military members.

  • Has an online application for preapproval.

  • Offers low rates compared with most lenders.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

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Caliber: NMLS#15622

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Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Offers extensive educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

  • Participates in some state down payment assistance and first-time homebuyer programs.

Cons

  • No mortgage rates displayed online.

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

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Guild Mortgage: NMLS#3274

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Good for: first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

  • Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.

  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.

  • Average interest rates and fees are higher than other lenders.

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Flagstar: NMLS#417490

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Min. Credit Score

620

Min. Down Payment

3%

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Why we like it

Good for borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Doesn’t offer renovation loans at this time.

  • Home equity lending is geographically limited.

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» 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 January 2, 2020

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 Atlanta Mortgage Lenders of 2020