10 Best FHFC Mortgage Lenders of 2019

Why we like it

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.

Why we like it

Pros

• Low down payment options.

• Discounts for Citibank customers.

• Looks at alternative credit data like rent history and child support payments.

• Available in all 50 states.

Cons

• Charges a mortgage application fee.

• Did not disclose origination fees, which may vary.

• Can't complete loan online.

Why we like it

Pros

• Works with most borrowers as long as they have good credit scores and incomes.

• Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.

• Has a 95% customer satisfaction rate, according to company data.

Cons

• Charges some fees, such as a $1,290 lender fee, which includes a $150 application fee.

• Offers many products, which might confuse or overwhelm borrowers.

• Several click-throughs required for personalized rates.

Why we like it

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 loan amounts.

Why we like it

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.

Why we like it

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.

Why we like it

Pros

• Offers an ITIN qualification path for undocumented immigrant borrowers.

• Has a digital application process.

• Offers several mortgage options for low- to moderate-income borrowers.

• Has a full Spanish-language version of its website and bilingual loan officers.

• Borrowers can qualify with income from self-employment and other nontraditional sources.

Cons

• No mortgage rates published online.

• Doesn't lend in all states.

• No home equity loans or lines of credit.

Why we like it

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.

Why we like it

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.

Why we like it

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.