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10 Best Denver Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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Looking for a Denver mortgage lender? Compare our picks to find mortgage companies offering loan options for a variety of borrower needs.

Buying a house in Denver raises some "Mile High" questions. Should you live in Jefferson Park so Broncos games are just a hop, skip and a jump away, or Stapleton so getting to Denver International Airport is a breeze? Should you buy new construction or an existing house? And most importantly, which Denver mortgage lender should you choose?

While you’re contemplating the best neighborhood or type of house, NerdWallet compared Denver’s leading mortgage lenders — big national brands along with smaller hometown options — to identify the best ones for a variety of borrower preferences.

» MORE: Five tips for finding the right mortgage lender

These Denver mortgage lenders in the table have been reviewed by NerdWallet and are among the city’s highest-volume mortgage companies, according to the latest available data.

Summary of Best Denver Mortgage Lenders of 2020

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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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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 Guaranteed Rate

Guaranteed Rate: NMLS#2611

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Min. Credit Score

620

Min. Down Payment

3%

at Guaranteed Rate

Why we like it

Good for borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

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

Cons

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

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Caliber: NMLS#15622

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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, 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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USAA: NMLS#8722

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Min. Credit Score

620

Min. Down Payment

0%

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Why we like it

Good 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.

  • You can submit loan documents online.

Cons

  • Doesn’t offer FHA or USDA loans, or second mortgages.

  • Limited mortgage rate information is on the USAA website — none of it customized. You'll have to call.

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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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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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Chase: NMLS#399798

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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 to choose among a wide array of mortgage types from a bank with offices in more than half the states that charges below-average origination fees.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

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

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

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» MORE: See more Colorado mortgage lenders

Local mortgage lenders in Denver

The following lenders have not been reviewed by NerdWallet. However, these companies originated a significant number of mortgages in Denver and are popular among the city’s home loan shoppers.

Check them out if you want to include some local options in your search for a mortgage lender.

American Financing

  • Employs salary-based mortgage consultants.

  • Offers Colorado first-time home buyer (CHFA) loans and down payment assistance.

  • Has a bank statement loan program for self-employed borrowers.

  • Has only one branch located in Aurora, Colorado.

Cherry Creek Mortgage

  • In business since 1986.

  • Offers specialty loans for first-time home buyers, Native Americans and union members.

  • Finances new construction and renovations.

  • Has more than 20 branch locations in Colorado.

FirstBank

  • Does not require personal information for customized rate quotes online.

  • Offers first-time home buyer loans with low closing costs and down payment assistance.

  • Offers construction and lot loans.

  • Has many branch locations throughout Colorado.

Elevations Credit Union

  • Offers a wide variety of loans, including FHA, VA, USDA and jumbo.

  • Has a no-closing-cost option for conforming loans.

  • Displays interest rates online for all its mortgage products, but they’re not customized.

  • Has more than a dozen branch locations in Colorado.

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 Denver Mortgage Lenders of 2020