Best IHDA Mortgage Lenders of 2019

Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who meet robust guidelines.

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

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.

Why we like it

Ideal for first-time home buyers and those seeking specialty mortgages such as construction or condo loans.

Pros

• Offers specialty loans, such as construction, renovation and reverse mortgages.

• Online application and progress tracking available.

• Condo lending specialists on staff.

• Participates in five first-time home buyer assistance programs.

Cons

• Mortgage rates are available only by contacting a loan officer.

• Physical locations not available in all states.

Why we like it

Pros

• Full line of conventional and government loan products.

• Considers alternative credit data, like utility bills, in some cases.

• Offers construction and investment-property loans in some areas.

Cons

• No personalized rates available online.

• Not all loan products offered are listed on its website.

Why we like it

Ideal for borrowers with low-to-moderate incomes or limited down payments. PNC offers a low-down-payment loan with no mortgage insurance.

Pros

• Considers nontraditional credit history like rent payments.

• Online tools help you estimate mortgage payments and track application progress.

• Several affordable loan options including FHA, VA, USDA and the PNC Community Loan.

Cons

• It's not possible to complete the entire mortgage process online.

• Offers mortgage loans nationwide, but has branches in only about two dozen states.

Why we like it

Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and helps borrowers whose credit histories don't fit the mold of traditional banking.

Pros

• Uses manual underwriting to evaluate creditworthiness.

• Offers full online mortgage application, rate quotes, document upload and loan tracking.

• Home equity lending sets it apart from most non-bank lenders.

Cons

• Services not available in all 50 states.

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.

• 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.

Why we like it

Ideal for borrowers with low-to-moderate incomes or limited down payments. PNC offers a low-down-payment loan with no mortgage insurance.

Pros

• Considers nontraditional credit history like rent payments.

• Online tools help you estimate mortgage payments and track application progress.

• Several affordable loan options including FHA, VA, USDA and the PNC Community Loan.

Cons

• It's not possible to complete the entire mortgage process online.

• Offers mortgage loans nationwide, but has branches in only about two dozen states.