Best of

Best Indiana 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.

Looking to get a mortgage in Indiana? These are among the best mortgage lenders in Indiana for first-time home buyers and borrowers with low credit scores. Others rank high for online mortgages, refinancing and face-to-face lending.

Quicken Loans

at Quicken Loans

at Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

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 more than 60% of working Americans.
  • Offers custom fixed-rate loan terms that are between eight and 30 years.
  • Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.

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.
Read full review
SoFi

at SoFi

4.0

NerdWallet rating 

at SoFi

National / Regional

Regional

Min. Down Payment

10%

Pros

  • Provides an entirely digital mortgage application to make the process easier for borrowers.
  • Considers non-traditional income, such as restricted stock units, and works with self-employed borrowers.

Cons

  • Doesn't offer government-backed loans, like FHA or VA.
  • Does not offer home equity loans or HELOCs.
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
New American Funding

at New American

at New American

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Uses manual underwriting to evaluate creditworthiness.
  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Services not available in all 50 states.
Read full review
J.G. Wentworth

at JG Wentworth

4.0

NerdWallet rating 

at JG Wentworth

Min. Credit Score

600

Min. Down Payment

3%

Pros

  • Wide variety of terms, including 10-, 15-, 20-, 25- and 30- year fixed-rate mortgages and ARMs with 3/1, 5/1, 7/1 and 10/1 terms.
  • Offers Fannie Mae and Freddie Mac programs for low- to moderate-income home buyers.
  • VA lending is one-third of J.G. Wentworth’s business. A number of loan officers and other employees are former service members.
  • Focus on automation includes an entire online loan application process, digital document uploads, loan tracking and signatures as well as pre-qualification letters by email.
  • Licensed in all states except for Hawaii, Missouri, Montana, Nevada and New York.

Cons

  • Does not offer home equity loans or lines of credit.
  • Physical locations in 14 states only.
  • Not licensed in Hawaii, Missouri, Montana, Nevada or New York.
Chase

at Chase

at Chase

Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
National / Regional

National

Min. Down Payment

3%

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.
Read full review
Rocket Mortgage

at Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
SoFi

at SoFi

4.0

NerdWallet rating 

at SoFi

National / Regional

Regional

Min. Down Payment

10%

Pros

  • Provides an entirely digital mortgage application to make the process easier for borrowers.
  • Considers non-traditional income, such as restricted stock units, and works with self-employed borrowers.

Cons

  • Doesn't offer government-backed loans, like FHA or VA.
  • Does not offer home equity loans or HELOCs.

Summary of Best Indiana Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Quicken Loans

Quicken Loans

at Quicken Loans

first-time home buyers

620

3%

at Quicken Loans

SoFi

SoFi

NerdWallet rating 

at SoFi

first-time home buyers + online experience

N/A

10%

at SoFi

SunTrust

SunTrust

refinancing

620

3%

Read review
Guaranteed Rate

Guaranteed Rate

refinancing

620

3%

Read review
New American Funding

New American Funding

at New American

lower credit scores

620

3%

at New American

J.G. Wentworth

J.G. Wentworth

NerdWallet rating 

at JG Wentworth

lower credit scores

600

3%

at JG Wentworth

Chase

Chase

at Chase

face-to-face support

620

3%

at Chase

Fairway

Fairway

face-to-face support

N/A

3%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Quicken Loans

Quicken Loans

at Quicken Loans

first-time home buyers

620

3%

at Quicken Loans

SoFi

SoFi

NerdWallet rating 

at SoFi

first-time home buyers + online experience

N/A

10%

at SoFi

SunTrust

SunTrust

refinancing

620

3%

Read review
Guaranteed Rate

Guaranteed Rate

refinancing

620

3%

Read review
New American Funding

New American Funding

at New American

lower credit scores

620

3%

at New American

J.G. Wentworth

J.G. Wentworth

NerdWallet rating 

at JG Wentworth

lower credit scores

600

3%

at JG Wentworth

Chase

Chase

at Chase

face-to-face support

620

3%

at Chase

Fairway

Fairway

face-to-face support

N/A

3%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

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 Indiana Mortgage Lenders of 2019