9 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.

NerdWallet
Written by
Last updated on January 6, 2022

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9 Best Austin Mortgage Lenders of 2022

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
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Guaranteed Rate

Guaranteed Rate: NMLS#2611

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at Guaranteed Rate
at Guaranteed Rate
Home loans overall
Best for online experience

620

3%

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at Guaranteed Rate
at Guaranteed Rate
Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

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at Fairway Independent Mortgage
at Fairway Independent Mortgage
3.0
/5
Home loans overall
Best for online experience

620

3%

Learn more
at Fairway Independent Mortgage
at Fairway Independent Mortgage
loanDepot

loanDepot: NMLS#174457

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on NerdWallet
4.5
/5
FHA loans
Best for FHA loans

500

3.5%

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on NerdWallet
PrimeLending

PrimeLending: NMLS#13649

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on NerdWallet
4.0
/5
VA loans
Best for VA loans

580

0%

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on NerdWallet
Caliber

Caliber: NMLS#15622

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on NerdWallet
3.5
/5
VA loans
Best for VA loans

580

0%

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on NerdWallet
Guild Mortgage

Guild Mortgage: NMLS#3274

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on NerdWallet
4.0
/5
FHA loans
Best for FHA loans

540

3.5%

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on NerdWallet
Flagstar

Flagstar: NMLS#417490

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on NerdWallet
5.0
/5
Refinancing
Best for refinancing

620

3%

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on NerdWallet
Chase

Chase: NMLS#399798

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on NerdWallet
4.5
/5
Jumbo loans
Best for jumbo loans

N/A

15%

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on NerdWallet
Bank of America

Bank of America: NMLS#399802

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on NerdWallet
5.0
/5
Jumbo loans
Best for jumbo loans

720

5%

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on NerdWallet
Guaranteed Rate
Learn more
at Guaranteed Rate
at Guaranteed Rate
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers seeking a broad menu of loans, including jumbo and interest-only options, renovation loans and government-backed mortgages, as well as home equity lines of credit.
Pros
  • Offers a one-day mortgage approval process.
  • Offers a generous selection of loans, including government-backed, interest-only, ITIN, jumbo and renovation loans.
  • Advertises a HELOC that can be funded in as few as five business days.
Cons
  • Origination fees are higher than average, according to the latest federal data.
  • HELOC has a relatively short draw period, which may not provide flexibility for someone who wants the option of accessing home equity over a longer period.
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Fairway Independent Mortgage
Learn more
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers looking for a low-down-payment mortgage, renovation loan, or a specialized mortgage geared to medical professionals.
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 and mortgage rates are on the high side compared with other lenders, according to the latest federal data.
loanDepot
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loanDepot

loanDepot: NMLS#174457

4.5
Min. credit score

500

Min. down payment

3.5%

Why We Like ItGood for: borrowers who want a lender with deep experience in FHA lending.
Pros
  • Was among the top five lenders by volume for FHA lending in 2022, according to the latest federal data.
  • Online loan calculator lets borrowers compare monthly payments and lifetime interest.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage rates aren't available online; you'll need to contact a loan officer.
  • Origination fees for FHA loans tend to be on the high end, according to the latest federal data.
PrimeLending
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PrimeLending

PrimeLending: NMLS#13649

Min. credit score

580

Min. down payment

0%

Why We Like ItGood 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.
Caliber
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on NerdWallet
Caliber

Caliber: NMLS#15622

Min. credit score

580

Min. down payment

0%

Why We Like ItGood 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.
Guild Mortgage
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on NerdWallet
Guild Mortgage

Guild Mortgage: NMLS#3274

4.0
Min. credit score

540

Min. down payment

3.5%

Why We Like ItGood for: borrowers seeking a lender that dedicates a significant portion of its business to FHA lending.
Pros
  • Was one of the top 10 lenders by volume for FHA lending in 2022, according to the latest federal data.
  • Has retail branches in most states.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Origination fees for FHA loans tend to be on the high end, according to the latest federal data.
Flagstar
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Flagstar

Flagstar: NMLS#417490

5.0
Min. credit score

620

National / regional

National

Why We Like ItGood for: Borrowers who may benefit from Flagstar’s unique loan options, such as ITIN loans, loans for manufactured homes or physician loans.
Pros
  • Multiple loans for those who are renovating or building a home, including loans with interest-only payments during construction.
  • Offers home equity loans and lines of credit.
  • Offers down payment assistance and loans for underserved borrowers, including ITIN loans and loans with flexible qualifications in certain communities.
  • Interest rates are on the low side relative to other lenders, according to the latest federal data.
  • Borrowers can enter their information (including their desired loan amount, down payment and zip code) into the lender’s Mortgage Quote Comparison tool and receive a customized rate quote.
Cons
  • Home equity loans are not available in all locations served by Flagstar.
  • In 2022, the lender was fined for violating laws regarding properties in flood zones.
Chase
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Chase

Chase: NMLS#399798

4.5
National / regional

National

Min. down payment

15%

Why We Like ItGood for: conventional borrowers and those interested in loans with low down payment requirements.
Pros
  • Offers two proprietary loans with low down payment requirements.
  • Provides customizable sample rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Borrowers must apply for prequalification before accessing a full online application.
  • Origination fees are higher than average, according to the latest federal data.
  • Borrowers may be frustrated with the lender’s website experience.
Bank of America
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Bank of America

Bank of America: NMLS#399802

5.0
Min. credit score

720

Min. down payment

5%

Why We Like ItGood for: low- to moderate-income buyers who qualify for down payment or closing cost assistance programs and homeowners interested in a home equity line of credit.
Pros
  • Offers down payment and closing cost assistance programs.
  • Existing customers who meet certain qualifications can receive 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 or construction-to-permanent mortgage loans.
  • Must enroll in online banking to access Home Loan Navigator.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.

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

  • Guaranteed Rate: Best for online experience
  • Fairway Independent Mortgage: Best for online experience
  • loanDepot: Best for FHA loans
  • PrimeLending: Best for VA loans
  • Caliber: Best for VA loans
  • Guild Mortgage: Best for FHA loans
  • Flagstar: Best for refinancing
  • Chase: Best for jumbo loans
  • Bank of America: Best for jumbo loans
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