BEST OF

10 Best Austin Mortgage Lenders of 2022

Looking for an Austin mortgage lender? We've researched the city’s top lenders, selecting the best in various categories.

Jan 6, 2022

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Austin is a tech hub, the state capital and home to the University of Texas. It's no surprise that the city is growing rapidly. The surging population needs places to live, and plenty of mortgage companies are competing to help Austin home buyers realize the American dream.

NerdWallet has rounded up this list of national and regional mortgage lenders that we have reviewed, and that do a lot of lending in Austin. In addition, we've listed some locally based lenders that we have not reviewed, but which do plenty of business in Austin.

Best Austin Mortgage Lenders

Guaranteed Rate
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Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

Min. down payment

3%
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at Guaranteed Rate


Why we like it

Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.

Pros

  • Displays detailed sample rates for many of its loan products.

  • Offers a wide variety of loans, including jumbo and interest-only products.

  • Offers low rates compared with other lenders, according to the latest federal data.

Cons

  • Doesn't offer home equity loans.

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Quicken Loans
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at Quicken Loans

Quicken Loans: NMLS#3030

4.0

NerdWallet rating 
Quicken Loans

Min. credit score

620

Min. down payment

3%
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at Quicken Loans


Why we like it

Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service.

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.

  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

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

  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

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Fairway Independent Mortgage
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at Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.5

NerdWallet rating 
Fairway Independent Mortgage

Min. credit score

620

Min. down payment

3%
Learn more

at Fairway Independent Mortgage


Why we like it

Good for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.

Pros

  • Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Mortgage rates for different types of loans aren't posted online.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

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loanDepot: NMLS#174457

4.0

NerdWallet rating 
loanDepot

Min. credit score

580

Min. down payment

3.5%

Why we like it

Good for: borrowers who want an easy online application and a variety of loan types to explore.

Pros

  • Has branches across the country for customers who prefer face-to-face service.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

  • Mortgage interest rates tend to be on the lower end, according to the latest federal data.

Cons

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

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

Read Full Review

PrimeLending: NMLS#13649

3.5

NerdWallet rating 
PrimeLending

Min. credit score

580

Min. down payment

0%

Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers government-backed mortgage and refinance options, including FHA, USDA and VA loans.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

Read Full Review

Caliber: NMLS#15622

3.5

NerdWallet rating 
Caliber

Min. credit score

580

Min. down payment

0%

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.

  • Participates in some down payment assistance and first-time home buyer programs.

Cons

  • No mortgage rates displayed online.

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

Read Full Review

Guild Mortgage: NMLS#3274

3.5

NerdWallet rating 
Guild Mortgage

Min. credit score

N/A

Min. down payment

3.5%

Why we like it

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

Pros

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

  • Has retail branches in most states.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Does not offer home equity loan products.

  • Origination fees tend to be higher, according to the latest federal data.

Read Full Review

Flagstar: NMLS#417490

4.5

NerdWallet rating 
Flagstar

Min. credit score

620

Min. down payment

3%

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.

  • Borrowers can apply and track loan status online.

  • Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

  • Home equity loans are geographically limited.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

National / regional

National

Min. down payment

20%

Why we like it

Good for: borrowers who want a wide selection of loan products, an in-person experience and comparatively low interest rates.

Pros

  • Carries a wide variety of mortgage types and products, including DreaMaker and Standard Agency mortgages, with down payments as low as 3%.

  • Offers low rates compared with other lenders, according to the latest federal data.

  • Offers a customizable mortgage calculator for personalized rate and payment estimates.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan adviser to complete the application.

  • Home equity lines of credit (HELOC) are currently unavailable.

Read Full Review

Bank of America: NMLS#399802

4.0

NerdWallet rating 
Bank of America

Min. credit score

720

Min. down payment

15%

Why we like it

Good for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.

Pros

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer renovation loans that roll costs into a mortgage.

Read Full Review

Local mortgage lenders in Austin

These lenders are based in Austin, know the city well and are experienced in mortgage lending. They have not been reviewed by NerdWallet.

  • Plenty of mortgage options from one of Austin's busiest mortgage lenders.

  • Offers an array of fixed-rate and adjustable-rate mortgages.

  • Products include VA loans for active-duty military and veterans; Community Hero loans for teachers, firefighters, police officers and military; and Medical Community loans for doctors and nurses.

  • Mortgage services from application to closing are handled by UFCU and not outsourced to a third party.

  • Loans to buy land are available.

  • Members may use a mobile app to begin the application process.

  • Works with home buyers who want to participate in Texas' home buyer assistance programs.

  • Participates in Texas bond programs to provide down payment assistance as well as tax credits.

  • Conventional loans with minimum 3% down payment and minimum credit score 620.

  • Offers FHA loans with minimum 620 credit score and VA loans, which don't require a down payment.

  • Offers borrowers a wide choice of mortgage programs from a homegrown lender.

  • Offers fixed-rate, adjustable-rate, VA, USDA, FHA, jumbo and construction loans.

  • You can start the application online and track the mortgage status.

  • Click to schedule a call from a loan officer if you prefer to speak to someone before or during application.

  • Options for home buyers and refinancers who want to get a mortgage from a local credit union.

  • Offers 15- and 30-year fixed-rate loans and 5/5 and 10/10 ARMs.

  • Down payments on fixed-rate loans as low as 5%.

  • Apply for a mortgage pre-qualification online in English or Spanish.

  • Join by making a one-time $10 payment to the A+ Education Foundation or being affiliated with a qualifying school, business or organization.

More from NerdWallet

Last updated on January 6, 2022

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 Austin Mortgage Lenders of 2022