Best of
Best Dallas-Fort Worth 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.
These are highly rated Dallas mortgage lenders in various lending categories. You can’t shop hundreds of lenders, but now you can certainly find three.
at Chase
at Chase
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers who want to talk to a loan officer in person or on the phone, and for homeowners who want to refinance their mortgages in 60 days or less. Chase offers a full line of mortgage products and account management tools.
Pros
- Allows electronic submission and tracking of documents.
- Existing Chase customers can get discounts.
- Offers a wide selection of purchase and refinance mortgages.
Cons
- Charges rate lock, origination and underwriting fees.
- You have to speak with a mortgage banker to get complete info on products and requirements.
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 Rocket Mortgage
at Rocket Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Ideal for anyone who appreciates smartphone app service, support and time savings. A fully digital home loan experience with a large variety of mortgage products.
Pros
- The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
- With your authorization, accesses asset statements from 98% of U.S. financial institutions.
- Tells you the loan amount you’ll qualify for within minutes.
- Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.
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.
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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for help with closing costs: PrimeLending's proprietary program, NeighborhoodEdge, helps qualified low- to moderate-income borrowers with up to $2,000 in closing cost credits (certain restrictions are based on income and location).
Pros
- Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
- Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
- Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
- Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
- NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
- “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.
Cons
- No live chat online.
- No online mortgage rate quotes.
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 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-amount loans.
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 loan offerings.
- 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.
Min. Credit Score
550
Min. Down Payment
3%
Ideal for borrowers who prefer an online experience. Homebridge offers a variety of home loan options and an online application.
Pros
- A wide variety of loan types.
- Low credit score requirements for government-backed loans.
- A wealth of educational material on its website.
- Licensed in all 50 states.
Cons
- Mortgage application can't be tracked online.
- Charges origination fees on some loans.
- Limited branch locations.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for military members and their relatives who are interested in a VA loan.
Pros
- VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility.
- Lots of experience assisting first-time home buyers.
- Offers online pre-qualification.
Cons
- Doesn’t offer FHA or USDA loans.
- Alternative credit is not considered.
Summary of Best Dallas-Fort Worth Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Chase at Chase | traditional banks | 620 | 3% | at Chase |
 Bank of America | traditional banks | 620 | 3% | Read review |
Rocket Mortgage at Rocket Mortgage | online convenience | 620 | 3% | at Rocket Mortgage |
loanDepot at loanDepot | online convenience | 620 | 3.5% | at loanDepot |
 PrimeLending | customer service | 620 | 3% | Read review |
 Fairway | customer service | N/A | 3% | Read review |
 Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
 Flagstar | first-time home buyers | 620 | 3% | Read review |
 HomeBridge | government-backed loans | 550 | 3% | Read review |
 USAA | government-backed loans | 620 | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Chase at Chase | traditional banks | 620 | 3% | at Chase |
Bank of America | traditional banks | 620 | 3% | Read review |
Rocket Mortgage at Rocket Mortgage | online convenience | 620 | 3% | at Rocket Mortgage |
loanDepot at loanDepot | online convenience | 620 | 3.5% | at loanDepot |
PrimeLending | customer service | 620 | 3% | Read review |
Fairway | customer service | N/A | 3% | Read review |
Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
Flagstar | first-time home buyers | 620 | 3% | Read review |
HomeBridge | government-backed loans | 550 | 3% | Read review |
USAA | government-backed loans | 620 | 3% | Read review |
Local mortgage lenders in Dallas-Fort Worth
If you want to include a local lender or two in your search for the best mortgage, these Dallas-Fort Worth lenders are among the highest-volume mortgage makers in the city. The following lenders have not been reviewed by NerdWallet.
- The application process can begin online.
- Works to earn referrals from previous customers and local real estate professionals.
- Offers conventional, government-backed and jumbo loans.
- Finances condominiums (non-warrantable) that don’t meet the standards of Fannie Mae or Freddie Mac.
- A complete line of mortgage loans, including for vacation homes as well as construction and renovation.
- Also offers loans for investment properties.
- If you’ve been denied a mortgage, credit consultants will analyze your credit report and help identify ways to improve your creditworthiness.
- Online pre-qualification form gets the homebuying process started.
- Staffed to serve Spanish-speaking customers.
- Founded in Fort Worth in 1998.
- Underwrites, processes and services all loans in-house.
- Offers an online application.
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 Dallas-Fort Worth Mortgage Lenders of 2019
- Chase: Best for traditional banks
- Bank of America: Best for traditional banks
- Rocket Mortgage: Best for online convenience
- loanDepot: Best for online convenience
- PrimeLending: Best for customer service
- Fairway: Best for customer service
- Guild Mortgage: Best for first-time home buyers
- Flagstar: Best for first-time home buyers
- HomeBridge: Best for government-backed loans
- USAA: Best for government-backed loans
