Best of

Best Missouri Housing Mortgage Lenders of 2019

NerdWalletJuly 16, 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.

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%

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.
Read full review
New American Funding

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
Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.
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 that includes a $150 application fee.
  • Offers many products, which might confuse or overwhelm borrowers.
  • Several click-throughs required for personalized rates.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.
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

Summary of Best Missouri Housing Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

online convenience

620

3%

Read review
New American Funding

New American Funding

at New American

first-time home buyers

620

3%

at New American

Guild Mortgage

Guild Mortgage

first-time home buyers

620

3%

Read review
HomeBridge

HomeBridge

government loans

620

3%

Read review
Guaranteed Rate

Guaranteed Rate

government loans

620

3%

Read review
PrimeLending

PrimeLending

buying a fixer-upper

620

3%

Read review
Fairway

Fairway

buying a fixer-upper

N/A

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

online convenience

620

3%

Read review
New American Funding

New American Funding

at New American

first-time home buyers

620

3%

at New American

Guild Mortgage

Guild Mortgage

first-time home buyers

620

3%

Read review
HomeBridge

HomeBridge

government loans

620

3%

Read review
Guaranteed Rate

Guaranteed Rate

government loans

620

3%

Read review
PrimeLending

PrimeLending

buying a fixer-upper

620

3%

Read review
Fairway

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