Best Mortgage Lenders for First-Time Home Buyers in 2026

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Best Mortgage Lenders for First-Time Home Buyers in 2026

Kate Wood

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Kate Wood

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Written by

Kate Wood

, Co-Written by

Taylor Getler

, Edited by

Johanna Arnone

Written by

Kate Wood

and

Last updated 05/01/2026

If you're buying your first home, low down-payment requirements and great customer care can make getting a mortgage easier. To help you find the right lender, NerdWallet has researched and selected the best mortgage lenders for first-time home buyers.

This service is free and will not affect your credit score.

Compare the best debt consolidation loans for you, in one place

What loans are available for first-time home buyers?

If you’re buying your first home, the best mortgage is usually the one you qualify for that fits your financial situation. Your credit score, income and down payment savings all play a role in determining which loan type makes the most sense for you.

For many first-time buyers, FHA loans are one of the easiest options to qualify for. These loans allow lower credit scores and more flexible debt-to-income ratios. Borrowers with a credit score of 580 or higher can qualify with a 3.5% down payment. If your credit score is 620 or higher, you may also want to consider a conventional loan, which can offer competitive rates and, in some cases, lower long-term costs.

Other options may be available depending on your situation. VA loans are available to eligible service members, veterans and some surviving spouses and typically require no down payment. And many states offer first-time home buyer programs, including grants and down payment assistance that can help make buying a home more affordable.

Best Mortgage Lender First-Time Home Buyers

Rocket Mortgage, LLC

NMLS#3030

Rocket Mortgage, LLC

Rocket Mortgage, LLC

NMLS#3030

4.5

NerdWallet rating

Home loans overall

Sort by:

Best for low down payments

Alliant

NMLS#197185

NerdWallet rating

5.0

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on Alliant

The Nerdy headline

Alliant Credit Union allows you to see a wide range of customized mortgage rates without sharing your contact information, and offers competitive loan products for first-time home buyers.

What we like

Offers a competitive combination of low rates and fees.
Mortgage borrowers do not need to become members of the credit union until reaching the closing process.
Sample rates are displayed upfront, and it's easy to get detailed, personalized rates without providing any personally identifying information.

What we don't like

Mobile banking app doesn't offer mortgage features.

Read our full review of Alliant

Best for variety of loan types

Northpointe

NMLS#447490

NerdWallet rating

4.5

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on Northpointe

The Nerdy headline

In addition to conventional and government-backed loans, Northpointe Bank’s mortgage portfolio includes rarer offerings like doctor loans, condo loans and investment property loans. However, average fees and rates tend to be comparatively high.

What we like

Offers mortgages for investment properties.
Reported average closing time is faster than many competitors.

What we don't like

The lender's combination of rates and fees are on the high side, according to the latest data.
Bank’s mobile app isn’t useful for mortgage borrowers.

Read our full review of Northpointe

Best for variety of loan options

Truist

NMLS#399803

NerdWallet rating

5.0

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on Truist

The Nerdy headline

If you prefer people to tech, Truist might be a good fit for you. Preapproval and customer care happen mostly offline, and for details on less-common loan types or custom rates you'll need to talk to a person.

What we like

Offers a wide range of mortgage options focused on affordability.
Convenient online application.
Generous grants for qualifying home buyers in select locations.

What we don't like

Getting custom rates and applying for mortgage preapproval both require human contact.
Customer care leans heavily on phone and in-person service.
HELOCs are not available in most states, though home loans are available everywhere in the U.S. except Alaska, Arizona and Hawaii.

Read our full review of Truist

Best for SoFi customers

SoFi

NMLS#696891

NerdWallet rating

4.0

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on SoFi

The Nerdy headline

SoFi offers online conveniences and a range of customer service options, though combined rates and fees are higher than many other options.

What we like

Sample rates and terms are comparable online.
Offers a variety of customer service options.
Customers can complete an application online or via mobile app.

What we don't like

Combined rates and fees are high, making SoFi a more expensive choice than many competitors.
Closing times may be slow.

Read our full review of SoFi

Best for borrower assistance

PNC Bank

NMLS#446303

NerdWallet rating

5.0

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on PNC Bank

The Nerdy headline

PNC Bank offers a wide selection of loans and refinance options, with a streamlined digital experience and comprehensive rates tool.

What we like

Solid variety of mortgage types, both standard and harder-to-find.
Online rate quotes are informative and easy to customize.
Offers down payment grants and no-PMI loans for low-income borrowers.

What we don't like

Mobile app has limited mortgage features.
In-person service not available in all states.

Read our full review of PNC Bank

Best for Wells Fargo banking customers

Wells Fargo

NMLS#399801

NerdWallet rating

5.0

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on Wells Fargo

The Nerdy headline

Wells Fargo has significantly shrunk its mortgage business in recent years, but still offers a range of government-backed and speciality loans, as well as assistance for first-time home buyers.

What we like

Borrowers can see customized mortgage rate estimates online.
Offers relatively low interest rates and fees, according to the latest federal data.
Discounts may be available for existing Wells Fargo customers.

What we don't like

Does not offer home equity loans or HELOCs.
Borrowers need at least $250,000 in assets with the bank to qualify for a rate discount.
Prospective borrowers may be put off by the lender’s past legal issues.

Read our full review of Wells Fargo

Best for low down payments

Guild Mortgage

NMLS#3274

NerdWallet rating

4.0

Home loans overall

Min. credit score

600

Min. down payment

3%

Our take on Guild Mortgage

The Nerdy headline

Guild Mortgage offers a wide range of products that may attract nontraditional borrowers, including loans with 0% or 1% down. However, interest rates aren’t published online, making it harder to shop around.

What we like

Offers a wide range of loans, including harder-to-find products that appeal to nontraditional borrowers.
Borrowers can get a mortgage with 0% or 1% down.
Borrowers can apply via mobile app.

What we don't like

Mortgage rates aren’t posted online.
Customer service options are limited.

Read our full review of Guild Mortgage

Best for borrower assistance

U.S. Bank

NMLS#402761

NerdWallet rating

4.5

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on U.S. Bank

The Nerdy headline

U.S. Bank offers a broad selection of mortgages, including some niche options. Rates and fees are middle of the road, per federal data. The bank offers helpful tech for rate shopping and live chat, though its online application could be smoother.

What we like

Wide variety of mortgages, including some harder-to-find types.
Experience in construction and renovation loans.
Offers up to $17,500 in assistance (income/location requirements apply).

What we don't like

Rates shown online don’t reflect your credit score.
Contact form interrupts online application before you can complete it.
Few mortgage options for borrowers with low/bad credit.

Read our full review of U.S. Bank

Best for VA borrowers

Navy Federal

NMLS#399807

NerdWallet rating

5.0

Home loans overall

Min. credit score

N/A

Min. down payment

5%

Our take on Navy Federal

The Nerdy headline

Navy Federal is known for VA lending, but its flexible VA-like loan options truly stand out. You'll need a military connection to join the credit union.

What we like

Offers unique no-down-payment and no-mortgage-insurance loan options for military and civilian members.
24/7 customer service supports borrowers stationed overseas.
Has both home equity loans and lines of credit.

What we don't like

Borrowers must join the credit union before applying for a mortgage, and all borrowers on the loan must be members for the loan to close.
Does not offer FHA, renovation or construction loans.

Read our full review of Navy Federal

Best for borrower assistance

Flagstar

NMLS#417490

NerdWallet rating

5.0

Home loans overall

Min. credit score

600

Min. down payment

3%

Our take on Flagstar

The Nerdy headline

Flagstar Bank stands out for having a wide variety of home loan options, including harder-to-find products. But take note that Flagstar has reduced its mortgage business as part of corporate restructuring. Executives have indicated that the lender will rebuild its home lending operations by focusing on the needs of banking clients.

What we like

Offers down payment assistance programs to borrowers in qualifying areas.
Reported average time to close is 25 days, faster than the national average.
Conventional loan terms extend to 40 years, which is unusually flexible.

What we don't like

You can't apply for preapproval or prequalification online.
Customer service options are limited.

Read our full review of Flagstar

Best for first-time buyers overall

Rocket Mortgage, LLC

NMLS#3030

NerdWallet rating

4.5

Home loans overall

Min. credit score

620

Min. down payment

3%

Our take on Rocket Mortgage, LLC

The Nerdy headline

Rocket Mortgage is the Goliath of home loans in the U.S. It's the largest mortgage lender by volume, and keeps expanding its reach. Fortunately for borrowers, Rocket is a gentle giant, offering affordable borrowing options including a 1% down payment loan.

What we like

Offers down payment and closing cost assistance.
Largest lender, by volume, of FHA loans in 2025.
Borrowers can apply via mobile app.

What we don't like

Average origination fees are on the higher side, according to the latest federal data.
No HELOCs.
No physical branches.

Read our full review of Rocket Mortgage, LLC

How we chose the best mortgage lenders for first-time home buyers

Our team of mortgage experts follows an objective, consumer-first methodology to assess mortgage lenders and pick the best ones for first-time buyers.

35+

Lenders reviewed

We review more than 35 lenders, including major banks, credit unions, and online lenders operating across multiple states.

7

Categories assessed

Each lender is evaluated across seven weighted categories covering market share, combined rates and fees, minimum down payments, programs and assistance for first-time buyers, customer experience and rate transparency.

11,000+

Data points analyzed

Our team tracks and reassesses thousands of data points annually for reviewed lenders, ensuring up-to-date, accurate comparisons across multiple loan types.

Star rating categories

We evaluate the following categories and carefully weigh how each factor impacts your experience.

We review more than 40 lenders and score them using a weighted system that prioritizes affordability, flexibility and a smooth borrowing experience. Lenders earn higher scores for offering specialized programs for first-time home buyers that are easy to browse, having transparent interest rates, a strong customer experience, considerable market share for both FHA and VA loans, a competitive combination of low rates and fees and low down payment requirements.

We use a mix of lender-provided information, publicly available data and our own analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.

For inclusion in this roundup, a lender must achieve among the highest NerdWallet ratings for first-time home buyers.

Why we picked these mortgage lenders

Mortgage lender	Best for	Why we chose them for first-time home buyers
Alliant Credit Union	Low down payments	The credit union's Alliant Advantage mortgage offers first-time home buyers a zero-percent-down home loan with no private mortgage insurance.
Flagstar Bank	Borrower assistance	Flagstar offers programs tailored to first-time home buyers, including down payment and closing cost credits.
Navy Federal Credit Union	VA borrowers	Navy Federal specializes in working with VA borrowers, and is a top VA lender by market share.
Guild	Low down payments	Guild offers multiple loan options with ultra-low down payments, as well as down payment assistance.
Northpointe	Variety of loan types	On top of the standard offerings, Northpointe has numerous mortgages with niche appeal, including physician loans and loans for rural borrowers.
PNC Bank	Borrower assistance	PNC offers down payment and closing cost grants to borrowers who meet income requirements.
SoFi	SoFi customers	Home buyers who already bank or borrow with SoFi can take advantage of discounts and easy access to customer support.
Truist	Variety of loan options	Truist offers numerous loan options with down payments of 3% or less.
U.S. Bank	Borrower assistance	U.S. Bank offers down payment assistance to borrowers who meet income requirements through the lender’s American Dream Mortgage.
Rocket Mortgage	First-time buyers overall	Rocket Mortgage's strengths include a 1% down loan, comprehensive customer support and a convenient online experience.
Wells Fargo	Wells Fargo customers	Wells Fargo's a solid mortgage lender, especially for existing banking customers.

How do I choose a mortgage lender?

Once you know what type of mortgage you want, finding the right lender may be easier than you expect. Don't want to do the research? A mortgage broker can give you a personalized list of options.

» MORE: Finding the right mortgage lender for you

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Applying for mortgage preapproval with multiple lenders can give you an idea of how much you could borrow, what interest rate you'd get and what it's like to work with each lender. Most lenders charge a fee to apply for a mortgage, but preapprovals can help narrow down your options for free.

To see actual interest rates and fees, you'll need to apply for a mortgage with more than one lender. Once you apply, you'll receive a Loan Estimate within three business days. This standard form makes it easy to compare lenders side by side.

How much do I need to save for a down payment?

The amount you need for a down payment depends on the type of home loan you choose. Some conventional loans offer down payments as low as 3%, but a down payment below 20% requires paying private mortgage insurance.

FHA loan down payments can be as low as 3.5%, depending on your credit score.

VA loans and USDA loans don't require down payments.

» MORE: Ways to save money to buy a house

Can I get help making a down payment?

As a first-time home buyer, you may qualify for down payment assistance or other first-time home buyer benefits. These programs are usually run by state housing authorities, though some cities and counties offer them as well. You may need to meet income or residency requirements. Many programs also require a first-time home buyer class.

More from NerdWallet

About the authors

Kate Wood

Senior Writer/Spokesperson

Kate Wood joined NerdWallet in 2019 as a writer on the homes and mortgages team. Her work on homebuying, renovation and FHA loans has been featured by USA Today, Yahoo, MSN and The Associated Press, among others. Kate previously wrote about home remodeling, decor and maintenance for This Old House magazine. With degrees in sociology from Vassar College and the University of California, San Diego, Kate is passionate about issues like housing inequality. Email: <a href="mailto:kwood@nerdwallet.com">kwood@nerdwallet.com</a>

Published in:

Taylor Getler

Lead Writer & Content Strategist

Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money. Email: tgetler@nerdwallet.com.

Published in:

About the editor

Johanna Arnone

Managing Editor

Johanna Arnone helps lead coverage of homeownership and mortgages at NerdWallet. Previously, she worked for more than a decade in magazine publishing, including six years as the editor of Muse, an award-winning science and tech magazine for young readers. She holds a Bachelor of Arts in English literature and a Master of Fine Arts in writing. Johanna has completed coursework in Boston University’s Financial Planning Certificate program. Email: <a href="mailto:jarnone@nerdwallet.com">jarnone@nerdwallet.com</a>.