Best of
Best Colorado Mortgage Lenders of 2019
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NerdWallet researched Colorado's leading mortgage lenders and identified some of the best across different categories, including first-time home buyers, borrowers with low credit scores and online mortgages. Find the best lender for your needs.
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
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.
National / Regional
National
Min. Down Payment
3%
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.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
Pros
- Offers digital income, asset and employment verification.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
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at Reali Loans
at Reali Loans
Min. Credit Score
620
National / Regional
Regional
Pros
- No upfront origination or broker fees.
- A shorter, more transparent refinance process.
- Online platform lets you track your refinance every step of the way.
Cons
- No FHA, VA or USDA refinance products.
- Account required to see personalized refinance rates.
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.
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 New American
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.
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 U.S. Bank
at U.S. Bank
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Licensed in all 50 states, with offices in 25.
- In J.D. Power’s 2017 U.S. Primary Mortgage Origination Satisfaction Study, U.S. Bank Home Mortgage received 3 (of 5 possible) points overall ("about average"), an improvement from 2016.
- Alternative credit sources are considered in some cases.
- With customer authorization bank can automatically retrieve electronic data such as asset and income information; important documents like pay stubs can be uploaded via mobile device.
- Qualified borrowers are offered a simultaneous second mortgage (AKA piggyback or 80/10/10 loans) allowing them to put 10% down without mortgage insurance.
- Application can be made online or with loan officer help by phone or in person.
Cons
- Online capabilities are currently limited.
- No offices in half of states, limiting face-to-face opportunities.
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.
Summary of Best Colorado Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Quicken Loans at Quicken Loans | first-time home buyers | 620 | 3% | at Quicken Loans |
 Citibank Mortgage | first-time home buyers | N/A | 3% | Read review |
loanDepot at loanDepot | refinancing | 620 | 3.5% | at loanDepot |
Reali Loans at Reali Loans | refinancing | 620 | 5% | at Reali Loans |
Rocket Mortgage at Rocket Mortgage | online experience | 620 | 3% | at Rocket Mortgage |
 Guaranteed Rate | online experience | 620 | 3% | Read review |
New American Funding at New American | low credit score | 620 | 3% | at New American |
Vylla at Vylla | low credit score | 620 | 3% | at Vylla |
US Bank at U.S. Bank | face-to-face service | 620 | 3% | at U.S. Bank |
 Bank of America | face-to-face service | 620 | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Quicken Loans at Quicken Loans | first-time home buyers | 620 | 3% | at Quicken Loans |
Citibank Mortgage | first-time home buyers | N/A | 3% | Read review |
loanDepot at loanDepot | refinancing | 620 | 3.5% | at loanDepot |
Reali Loans at Reali Loans | refinancing | 620 | 5% | at Reali Loans |
Rocket Mortgage at Rocket Mortgage | online experience | 620 | 3% | at Rocket Mortgage |
Guaranteed Rate | online experience | 620 | 3% | Read review |
New American Funding at New American | low credit score | 620 | 3% | at New American |
Vylla at Vylla | low credit score | 620 | 3% | at Vylla |
US Bank at U.S. Bank | face-to-face service | 620 | 3% | at U.S. Bank |
Bank of America | face-to-face service | 620 | 3% | Read review |
» MORE: Best Denver mortgage lenders
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Last updated on July 2, 2019
Methodology
To recap our selections...
NerdWallet's Best Colorado Mortgage Lenders of 2019
- Quicken Loans: Best for first-time home buyers
- Citibank Mortgage: Best for first-time home buyers
- loanDepot: Best for refinancing
- Reali Loans: Best for refinancing
- Rocket Mortgage: Best for online experience
- Guaranteed Rate: Best for online experience
- New American Funding: Best for low credit score
- Vylla: Best for low credit score
- : Best for face-to-face service
- Bank of America: Best for face-to-face service
