Best of

Best Charlotte Mortgage Lenders of 2019

NerdWalletJuly 2, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

If you’re looking for a mortgage in the Charlotte, North Carolina, metro area, you have many lenders to choose from. Here are the best options for you.

Quicken Loans

at Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
National / Regional

National

Min. Down Payment

3%

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.
Read full review
Min. Credit Score

620

National / Regional

National

Pros

  • Offers refinance mortgages with fixed and adjustable rates.
  • Apply for a refinance loan online, in-person or over the phone.
  • Customized refinance rates available without providing personal info.
  • Fee discounts for Preferred Rewards customers.

Cons

  • Online complaints indicate inconsistent communication.
  • Time to process and close a refinance may be slower than other lenders.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Considers alternative credit history on certain loans.
  • Offers construction loans to build a home or make significant renovations to an existing home.
  • Flexible borrowing and payment options for home equity loans and lines of credit.
  • Full suite of online capabilities.

Cons

  • Available mostly in the Southeast; not available nationwide.
  • Creating an account is mandatory if you want to apply online.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
loanDepot

at loanDepot

Min. Credit Score

620

Min. Down Payment

3.5%

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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
National / Regional

National

Min. Down Payment

0%

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.
Read full review
Vylla

at Vylla

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low minimum credit score.
  • Online application, loan tracking and document upload.
  • Free rate locks.

Cons

  • No online preapproval.
  • No presence in Massachusetts or North Dakota.
Read full review

Summary of Best Charlotte Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Quicken Loans

Quicken Loans

at Quicken Loans

FHA loans

620

3%

at Quicken Loans

Fairway

Fairway

FHA loans

N/A

3%

Read review
Bank of America

Bank of America

refinancing

620

3%

Read review
BB&T

BB&T

refinancing

620

3%

Read review
SunTrust

SunTrust

jumbo loans

620

3%

Read review
loanDepot

loanDepot

at loanDepot

FHA loans

620

3.5%

at loanDepot

Flagstar

Flagstar

VA loans

620

3%

Read review
Caliber

Caliber

first-time home buyers

620

3%

Read review
Navy Federal

Navy Federal

VA loans

N/A

0%

Read review
Vylla

Vylla

at Vylla

first-time home buyers

620

3%

at Vylla

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Quicken Loans

Quicken Loans

at Quicken Loans

FHA loans

620

3%

at Quicken Loans

Fairway

Fairway

FHA loans

N/A

3%

Read review
Bank of America

Bank of America

refinancing

620

3%

Read review
BB&T

BB&T

refinancing

620

3%

Read review
SunTrust

SunTrust

jumbo loans

620

3%

Read review
loanDepot

loanDepot

at loanDepot

FHA loans

620

3.5%

at loanDepot

Flagstar

Flagstar

VA loans

620

3%

Read review
Caliber

Caliber

first-time home buyers

620

3%

Read review
Navy Federal

Navy Federal

VA loans

N/A

0%

Read review
Vylla

Vylla

at Vylla

first-time home buyers

620

3%

at Vylla

Local mortgage lenders in Charlotte

These mortgage lenders are based in or near Charlotte and are among the metro area's most active mortgage providers. They have not been reviewed by NerdWallet.

Movement Mortgage

  • Homegrown lender that now has a national presence.
  • Mobile app lets you start your application and sync bank statements and tax software, reducing paperwork.
  • Aims to deliver a loan decision within six hours.
  • Offers low-down-payment, jumbo, FHA, VA and USDA mortgages, plus condo loans up to $3 million.

Allen Tate Mortgage

  • One of Charlotte's best-known brands for homebuying and refinancing.
  • Lets you track loan status online, plus get email notifications of milestones such as receipt of appraisal.
  • "Second Look" program encourages rate-shopping from people who have been preapproved by competing lenders; posts mortgage rates on its site.
  • Offers 15- and 30-year fixed-rate mortgages and 5/1 ARMs as well as jumbo, FHA, VA and USDA loans.

Sharonview Federal Credit Union

  • No lender fees for application, processing or documentation for most loans.
  • More-personalized mortgage rates are available on the site with no registration required.
  • Fixed-rate loans with terms from 30 to 10 years, plus 5/1 and 5/5 ARMs, and possible 100% financing.
  • Schedule a callback from a loan officer within four-hour windows.
  • Borrowers must meet membership eligibility requirements.

Cardinal Financial Company

  • Offers conventional, jumbo, FHA, VA and USDA loans.
  • Get a conventional loan with a down payment as low as 3%.
  • Jumbo loans are available for up to $3 million.

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 Charlotte Mortgage Lenders of 2019