Best of

10 Best Mortgage Lenders of November 2019

NerdWalletOctober 1, 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.

Before you buy a home or refinance your mortgage, shop around to find the best mortgage lenders of 2019. NerdWallet has selected some of the best mortgage lenders across a variety of categories.

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Summary of Best Mortgage Lenders of November 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
New American Funding

New American Funding

at New American

purchase loans + FHA loans

620

3%

at New American

Quicken Loans

Quicken Loans

at Quicken Loans

purchase loans

620

3%

at Quicken Loans

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

Reali Loans

Reali Loans

at Reali Loans

online experience

620

5%

at Reali Loans

Flagstar

Flagstar

refinancing

620

3%

Read review
SunTrust

SunTrust

refinancing

620

3%

Read review
BNC National Bank

BNC National Bank

at BNC National Bank

first-time home buyers

620

3%

at BNC National Bank

Veterans United

Veterans United

at Veterans United

VA loans

620

0%

at Veterans United

Navy Federal

Navy Federal

VA loans

N/A

0%

Read review
Citibank Mortgage

Citibank Mortgage

FHA loans

N/A

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
New American Funding

New American Funding

at New American

purchase loans + FHA loans

620

3%

at New American

Quicken Loans

Quicken Loans

at Quicken Loans

purchase loans

620

3%

at Quicken Loans

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

Reali Loans

Reali Loans

at Reali Loans

online experience

620

5%

at Reali Loans

Flagstar

Flagstar

refinancing

620

3%

Read review
SunTrust

SunTrust

refinancing

620

3%

Read review
BNC National Bank

BNC National Bank

at BNC National Bank

first-time home buyers

620

3%

at BNC National Bank

Veterans United

Veterans United

at Veterans United

VA loans

620

0%

at Veterans United

Navy Federal

Navy Federal

VA loans

N/A

0%

Read review
Citibank Mortgage

Citibank Mortgage

FHA loans

N/A

3%

Read review

Our picks for

purchase loans

These lenders offer a wide variety of home loans, the ability to serve customers from all walks of life, competitive loan terms and robust customer service for home buyers.

Logo

at New American

New American Funding: NMLS#6606

Logo
Min. Credit Score 
620 

Min. Down Payment 
3% 

at New American


Why we like it

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 helps 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.

  • Home equity lending sets it apart from most non-bank lenders.

Cons

  • Services not available in all 50 states.

Read Full Review
Logo

at Quicken Loans

Quicken Loans: NMLS#3030

Logo
Min. Credit Score 
620 

Min. Down Payment 
3% 

at Quicken Loans


Why we like it

Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.

Pros

  • Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.

  • Instantly verifies employment and income for more than 60% of working Americans.

  • Offers custom fixed-rate loan terms that are between eight and 30 years.

  • Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.

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

Our picks for

online experience

More borrowers like getting a mortgage electronically, yet talking with an experienced loan officer still matters. Look for online lenders offering both.

Logo

at Rocket Mortgage

Rocket Mortgage: NMLS#3030

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Min. Credit Score 
620 

Min. Down Payment 
3% 

at Rocket Mortgage


Why we like it

Ideal for anyone who appreciates smartphone app service, support and time savings. Rocket Mortgage offers a fully digital home loan experience with a large variety of mortgage products.

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
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at Reali Loans

Reali Loans: NMLS#991397

Logo
Min. Credit Score 
620 

Min. Down Payment 
5% 

at Reali Loans


Why we like it

Ideal for tech-savvy home buyers and refinancers in its multi-state lending territory. Reali Loans has an automated lending platform that offers round-the-clock access to application and loan-management tools.

Pros

  • Boasts of closing loans quickly.

  • No upfront origination or broker fees.

  • 24/7 access to your loan and its progress.

  • Transparent platform that automates (and shortens) the refinance process.

Cons

  • Currently operates in a limited number of states.

  • Doesn’t offer USDA government loans.

Read Full Review

Our picks for

refinancing

Because this is not your first mortgage, you want a lender that processes a refinance efficiently and helps you easily find the best rates and loan options.

Flagstar: NMLS#417490

Logo
Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

Ideal for those who appreciate the full-service experience of a leading regional bank. Flagstar offers a full menu of fixed and adjustable home loans and mortgage refinancing, as well as jumbo loans and home equity financing.

Pros

  • Embraces FHA-backed home loans.

  • Offers several types of construction and renovation mortgages.

  • A professional loan package is tailored for the needs of doctors, lawyers, nurse practitioners, airline pilots and certified public accountants.

  • Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.

  • Offers home equity loans and home equity lines of credit.

Cons

  • Charges an average $1,295 in underwriting and processing fees.

Read Full Review

SunTrust: NMLS#2915

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Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

Ideal for first-time home buyers, including those with little money saved for a down payment. SunTrust's online portal offers information and tools in English and in Spanish.

Pros

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

  • Has plenty of loan options to choose from and competitive interest rates.

  • Provides customer service in its physical locations, online, via chat and by phone.

  • Has a Doctor Loan Program for medical professionals who have high earning potential but little cash for down payments.

Cons

  • Has a limited number of physical branch locations in 11 states and Washington, D.C.

  • Does not consider alternative scoring data, such as rent or utility payments, in standard underwriting.

Read Full Review

Our pick for

first-time home buyers

Lenders who work with first-time home buyers are experienced at helping borrowers qualify for FHA loans and other mortgages with low down payment requirements.

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at BNC National Bank

BNC National Bank: NMLS#418467

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Min. Credit Score 
620 

Min. Down Payment 
3% 

at BNC National Bank


Why we like it

Ideal for military members and others who want low-down-payment loan options.

Pros

  • Loan officers are well-versed in VA loan process.

  • Low minimum credit score for government loans.

  • Down payments as low as 3% on conventional loans.

  • Considers alternative credit data, like cell phone payments.

Cons

  • No online preapproval.

  • Typically charges a $1,095 lender fee.

  • Limited number of physical mortgage offices.

Read Full Review

Our picks for

VA loans

When you are shopping for a VA mortgage, it is important to work with a lender that has deep knowledge of every aspect of the program.

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at Veterans United

Veterans United: NMLS#1907

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Min. Credit Score 
620 

Min. Down Payment 
0% 

at Veterans United


Why we like it

Ideal for veterans and active-duty service members. Veterans United is the nation's largest VA home purchase lender but also offers an excellent selection of other government and conventional loans.

Pros

  • Also offers FHA, USDA and conventional loans.

  • Offers 24/7 customer service.

  • You can complete a loan application and pre-qualify online.

  • Registers a low volume of complaints filed with the Consumer Financial Protection Bureau.

  • Offers free credit score education and assistance.

  • Provides a client advocate team staffed by former senior enlisted leaders from each branch of the armed forces.

Cons

  • Doesn’t offer home equity loans or HELOCs.

  • Loans are available in all 50 states, but Veterans United has offices in only about half.

Read Full Review

Navy Federal: NMLS#399807

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National / Regional 
National 

Min. Down Payment 
0% 


Why we like it

Ideal for military members and their families. Navy Federal Credit Union offers a wide range of mortgage products, an online application and considers alternative credit data for certain loan types.

Pros

  • Wide range of affordable mortgage products designed for military members.

  • Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.

  • Online application for preapproval with quick decision.

Cons

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

Read Full Review

Our picks for

FHA loans

With so many lenders offering FHA financing, you need to shop around and compare the best options.

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at New American

New American Funding: NMLS#6606

Logo
Min. Credit Score 
620 

Min. Down Payment 
3% 

at New American


Why we like it

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 helps 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.

  • Home equity lending sets it apart from most non-bank lenders.

Cons

  • Services not available in all 50 states.

Read Full Review

Citibank Mortgage: NMLS#413108

Logo
National / Regional 
National 

Min. Down Payment 
3% 


Why we like it

Ideal for first-time home buyers or those with weaker credit. Citibank Mortgage, a large-scale lender with a full menu of home loan products, offers low down payment options and considers alternative credit data.

Pros

  • Low down payment options.

  • Discounts for Citibank customers.

  • Looks at alternative credit data like rent history and child support payments.

  • Available in all 50 states.

Cons

  • Charges a mortgage application fee.

  • Did not disclose origination fees, which may vary.

  • Can't complete loan online.

Read Full Review

Last updated on October 1, 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 Mortgage Lenders of November 2019