Best of
Best Missouri Housing Mortgage Lenders of 2019
NerdWalletJuly 16, 2019
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The Missouri Housing Development Commission offers affordable loans and home buyer assistance programs to state residents. These MHDC-approved lenders are highly rated.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Participates in some down payment assistance programs.
- Offers educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
Cons
- No mortgage rates displayed online.
- Must work with a loan officer for pre-qualification and preapproval.
at New American
at New American
Min. Credit Score
620
Min. Down Payment
3%
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 seeks 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.
Cons
- Services not available in all 50 states.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.
Pros
- Works with loan programs offered by state and local housing agencies.
- Specializes in mortgages for first-time home buyers.
- Almost half of its loans are low-down-payment government mortgages.
- Considers alternative credit, such as history of payments on rent and utilities.
Cons
- With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
- Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers who prefer an online experience. Homebridge offers a variety of home loan options and an online application.
Pros
- A wide variety of loan types.
- Low credit score requirements for government-backed loans.
- A wealth of educational material on its website.
- Licensed in all 50 states.
Cons
- Mortgage application can't be tracked online.
- Charges origination fees on some loans.
- Limited branch locations.
Min. Credit Score
620
Min. Down Payment
3%
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 are well-qualified.
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 that includes a $150 application fee.
- Offers many products, which might confuse or overwhelm borrowers.
- Several click-throughs required for personalized rates.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for help with closing costs: PrimeLending's proprietary program, NeighborhoodEdge, helps qualified low- to moderate-income borrowers with up to $2,000 in closing cost credits (certain restrictions are based on income and location).
Pros
- Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
- Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
- Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
- Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
- NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
- “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.
Cons
- No live chat online.
- No online mortgage rate quotes.
National / Regional
National
Min. Down Payment
3%
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.
Summary of Best Missouri Housing Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Caliber | online convenience | 620 | 3% | Read review |
New American Funding at New American | first-time home buyers | 620 | 3% | at New American |
 Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
 HomeBridge | government loans | 620 | 3% | Read review |
 Guaranteed Rate | government loans | 620 | 3% | Read review |
 PrimeLending | buying a fixer-upper | 620 | 3% | Read review |
 Fairway | buying a fixer-upper | N/A | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Caliber | online convenience | 620 | 3% | Read review |
New American Funding at New American | first-time home buyers | 620 | 3% | at New American |
Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
HomeBridge | government loans | 620 | 3% | Read review |
Guaranteed Rate | government loans | 620 | 3% | Read review |
PrimeLending | buying a fixer-upper | 620 | 3% | Read review |
Fairway | buying a fixer-upper | N/A | 3% | Read review |
More Missouri Housing approved lenders
Here are additional mortgage lenders that participate in Missouri Housing Development Commission programs. While not reviewed by NerdWallet, they are among the leading mortgage originators in the state.
USA Mortgage
- Offers FHA 203(k) repair, replace and upgrade home loans.
- The leading mortgage lender by volume in Missouri.
- Headquartered in St. Louis with over 20 offices across Missouri.
Flat Branch Home Loans
- Its Community Champions program provides exclusive perks to first responders and school employees, among others.
- A mobile app keeps you in touch with the loan process wherever you are.
- 20 local offices throughout Missouri.
Busey Home Mortgage
- Wraps several special benefits into one package for former and active service members.
- Offers lot loans and construction-to-permanent financing.
- Offers all government-backed mortgages.
Stifel Bank & Trust
- Has a team of 30 home loan officers with an average of 20 years mortgage industry experience.
- An online application is linked to the mortgage banker of your choice.
- Based in St. Louis.
More from NerdWallet
Last updated on July 16, 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 Missouri Housing Mortgage Lenders of 2019
- Caliber: Best for online convenience
- New American Funding: Best for first-time home buyers
- Guild Mortgage: Best for first-time home buyers
- HomeBridge: Best for government loans
- Guaranteed Rate: Best for government loans
- PrimeLending: Best for buying a fixer-upper
- Fairway: Best for buying a fixer-upper
