Best of
Best Pennsylvania Mortgage Lenders of 2019
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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.
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.
at 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.
at Veterans United
4.5
NerdWallet ratingat 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.
at 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.
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.
at SoFi
4.0
NerdWallet ratingat 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.
at Network Capital
3.5
NerdWallet ratingat 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.
Summary of Best Pennsylvania Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Bank of America | government-backed loans | 620 | 3% | Read review |
 Guaranteed Rate | government-backed loans and jumbo loans | 620 | 3% | Read review |
loanDepot at LoanDepot | refinancing | 620 | 3.5% | at LoanDepot |
Veterans United NerdWallet rating at Veterans United | refinancing | 620 | 0% | at Veterans United |
Vylla at Vylla | first-time home buyers | 620 | 3% | at Vylla |
Rocket Mortgage at Rocket Mortgage | first-time home buyers | 620 | 3% | at Rocket Mortgage |
SoFi NerdWallet rating at SoFi | jumbo loans | N/A | 10% | at SoFi |
Network Capital NerdWallet rating at Network Capital | online lending | 620 | 3% | at Network Capital |
 PNC | online lending | 620 | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Bank of America | government-backed loans | 620 | 3% | Read review |
Guaranteed Rate | government-backed loans and jumbo loans | 620 | 3% | Read review |
loanDepot at LoanDepot | refinancing | 620 | 3.5% | at LoanDepot |
Veterans United NerdWallet rating at Veterans United | refinancing | 620 | 0% | at Veterans United |
Vylla at Vylla | first-time home buyers | 620 | 3% | at Vylla |
Rocket Mortgage at Rocket Mortgage | first-time home buyers | 620 | 3% | at Rocket Mortgage |
SoFi NerdWallet rating at SoFi | jumbo loans | N/A | 10% | at SoFi |
Network Capital NerdWallet rating at Network Capital | online lending | 620 | 3% | at Network Capital |
PNC | online lending | 620 | 3% | Read review |
Last updated on July 2, 2019
Methodology
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
