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10 Best Jacksonville Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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NerdWallet has narrowed the field to some of the best-rated mortgage companies in Jacksonville, Florida.

Jacksonville, Florida, can measure its appeal by the numbers. It has an average commute time of just 25 minutes and 24 annual music festivals. The sun shines on more than 90 miles of area beaches 220 days of the year. An equally impressive number of companies serve the mortgage needs of the 1.6 million residents in the seven-county area.

Because there is a significant military presence across the First Coast, lenders that specialize in mortgages guaranteed by the Department of Veterans Affairs and that cater to first-time home buyers are in high demand.

The challenge for borrowers who want to comparison shop is finding a workable number of high-performing loan providers.

» MORE: Find out about Florida first-time home buyer programs

Here are some of the best-rated lenders NerdWallet has reviewed in various borrower categories. We’ve highlighted some local favorites, too. All are among the mortgage lenders that do the most business in Jacksonville.

Summary of Best Jacksonville Mortgage Lenders of 2020

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at Rocket Mortgage

Rocket Mortgage by Quicken Loans: NMLS#3030

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Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage

Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

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Navy Federal: NMLS#399807

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National / Regional

National

Min. Down Payment

0%

Read review

Why we like it

Good for: Military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products designed for military members.

  • Has an online application for preapproval.

  • Offers low rates compared with most lenders.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

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PrimeLending: NMLS#13649

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Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

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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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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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SunTrust: NMLS#2915

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Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.

Pros

  • Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.

  • Offers a complete suite of online mortgage application tools and loan tracking.

  • Sample rates and fees are easy to find on the website.

Cons

  • Customized rates aren't available online without starting an application.

  • Branches are limited mostly to the Southeast.

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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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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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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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Caliber: NMLS#15622

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Min. Credit Score

620

Min. Down Payment

3%

Read review

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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» MORE: Check Jacksonville mortgage rates

Local mortgage lenders in Jacksonville

It’s always a good idea to include a local lender or two in your search for the best mortgage deal. These Jacksonville companies are among the highest-volume mortgage lenders in northeast Florida, though they have not been reviewed by NerdWallet.

Vystar Credit Union

  • The largest credit union based in northeast Florida and the second-largest mortgage lender in the region by loan volume.

  • Will pay up to $5,000 in borrower closing costs on certain home loans.

  • Makes credit union membership available to those who live or work in the Jacksonville area.

TIAA Bank

  • While now splashed across the Jacksonville Jaguars’ stadium, many will recognize the bank’s legacy brand as a provider of teacher retirement programs.

  • Allows you to lock your interest rate before you find a home to purchase.

  • Offers a one-closing construction loan that allows for an 18-month building phase and long-term interest rate lock.

Bank of England

  • While the name may seem to imply otherwise, every loan decision is made within the local branch.

  • Claims to close loans “50% faster than the national average.”

  • Offers bond loans to assist with closing costs.

DHI Mortgage

  • Started as the in-house lender for a leading homebuilder.

  • Offers a program to help credit-challenged buyers qualify for homeownership.

  • Offers an online pre-qualification form to start the homebuying process.

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 Jacksonville Mortgage Lenders of 2020