Best of

Best Pennsylvania 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.

These mortgage lenders rose to the top for products, services and customer experience in the Keystone State in 2019.

Min. Credit Score

620

Min. Down Payment

3%

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.
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
loanDepot

at LoanDepot

Min. Credit Score

620

National / Regional

National

Pros

  • Offers conventional and government-backed refinance mortgages.
  • Offers a “lifetime guarantee” on future refinances: no lender fees and reimbursal of appraisal cost.
  • Advertises a "no steering" policy for refinance loans.

Cons

  • Must provide personal information to get a customized refinance rate quote.
  • Has fewer high-tech refinance tools than other lenders, such as no mobile app.
Read full review
Veterans United

at Veterans United

4.5

NerdWallet rating 

at Veterans United

Min. Credit Score

620

National / Regional

National

Pros

  • Offers VA IRRRL, or “Streamline,” and cash-out refinance loans.
  • Online application and prequalification available.
  • Offers 24/7 customer service.

Cons

  • Doesn’t publish refinance rates on its website.
  • Must provide some personal information for a customized refinance rate quote.
  • Physical locations not available in all states.
Vylla

at Vylla

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low minimum credit score.
  • Online application, loan tracking and document upload.
  • Free rate locks.

Cons

  • No online preapproval.
  • No presence in Massachusetts or North Dakota.
Read full review
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.
  • Does not require private mortgage insurance for jumbo loans.

Cons

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

at Network Capital

3.5

NerdWallet rating 

at Network Capital

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Charges no lender fees.
  • A good selection of loan products, including all government-backed mortgages.
  • Offers jumbo loans up to $3 million.

Cons

  • Offers no home equity products.
  • Doesn't lend in all states.
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review

Summary of Best Pennsylvania Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Bank of America

Bank of America

government-backed loans

620

3%

Read review
Guaranteed Rate

Guaranteed Rate

government-backed loans and jumbo loans

620

3%

Read review
loanDepot

loanDepot

at LoanDepot

refinancing

620

3.5%

at LoanDepot

Veterans United

Veterans United

NerdWallet rating 

at Veterans United

refinancing

620

0%

at Veterans United

Vylla

Vylla

at Vylla

first-time home buyers

620

3%

at Vylla

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

first-time home buyers

620

3%

at Rocket Mortgage

SoFi

SoFi

NerdWallet rating 

at SoFi

jumbo loans

N/A

10%

at SoFi

Network Capital

Network Capital

NerdWallet rating 

at Network Capital

online lending

620

3%

at Network Capital

PNC

PNC

online lending

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Bank of America

Bank of America

government-backed loans

620

3%

Read review
Guaranteed Rate

Guaranteed Rate

government-backed loans and jumbo loans

620

3%

Read review
loanDepot

loanDepot

at LoanDepot

refinancing

620

3.5%

at LoanDepot

Veterans United

Veterans United

NerdWallet rating 

at Veterans United

refinancing

620

0%

at Veterans United

Vylla

Vylla

at Vylla

first-time home buyers

620

3%

at Vylla

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

first-time home buyers

620

3%

at Rocket Mortgage

SoFi

SoFi

NerdWallet rating 

at SoFi

jumbo loans

N/A

10%

at SoFi

Network Capital

Network Capital

NerdWallet rating 

at Network Capital

online lending

620

3%

at Network Capital

PNC

PNC

online lending

620

3%

Read review

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 Pennsylvania Mortgage Lenders of 2019

  • Bank of America: Best for government-backed loans
  • Guaranteed Rate: Best for government-backed loans and jumbo loans
  • loanDepot: Best for refinancing
  • Veterans United: Best for refinancing
  • Vylla: Best for first-time home buyers
  • Rocket Mortgage: Best for first-time home buyers
  • SoFi: Best for jumbo loans
  • Network Capital: Best for online lending
  • PNC: Best for online lending