Best of
Best Florida Mortgage Lenders of 2019
NerdWalletJuly 2, 2019
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NerdWallet can help you choose the best Florida mortgage lender for you, from all-digital online specialists to major banks for in-person service.
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
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at Reali Loans
at Reali Loans
Min. Credit Score
620
National / Regional
Regional
Ideal for refinance customers in the states it serves. Reali Loans doesn’t charge upfront origination or broker fees on refinance loans, which close in around 36 days.
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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers in the Southeast who want face-to-face service at one of more than 2,000 financial centers.
Pros
- Considers alternative credit history on certain loans.
- Offers construction loans to build a home or make significant renovations to an existing home.
- Flexible borrowing and payment options for home equity loans and lines of credit.
- Full suite of online capabilities.
Cons
- Available mostly in the Southeast; not available nationwide.
- Creating an account is mandatory if you want to apply online.
at Rocket Mortgage
at Rocket Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Ideal for anyone who appreciates smartphone app service, support and time savings. 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.
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 who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.
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.
at Chase
at Chase
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers who want to talk to a loan officer in person or on the phone, and for homeowners who want to refinance their mortgages in 60 days or less. Chase offers a full line of mortgage products and account management tools.
Pros
- Allows electronic submission and tracking of documents.
- Existing Chase customers can get discounts.
- Offers a wide selection of purchase and refinance mortgages.
Cons
- Charges rate lock, origination and underwriting fees.
- You have to speak with a mortgage banker to get complete info on products and requirements.
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 who worry about taking on debt. Churchill advocates "debt-free homeownership" and helps customers achieve that goal. A well-known advocate: financial guru Dave Ramsey.
Pros
- Offers loans to customers without credit scores, using alternative data.
- Helps customers find relevant state housing and rural/farm programs.
- Offers annual mortgage reviews to help borrowers stay on track toward the goal of living debt-free.
Cons
- Not available everywhere: serves 44 states and D.C.
- Some borrowers, particularly in expensive urban areas, may be put off by the debt-free homeownership strategy.
- Does not offer home equity loans or HELOCs, but will "broker them out."
Summary of Best Florida 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 |
 SunTrust | first-time home buyers | 620 | 3% | Read review |
Reali Loans at Reali Loans | refinancing | 620 | 5% | at Reali Loans |
 BB&T | refinancing | 620 | 3% | Read review |
Rocket Mortgage at Rocket Mortgage | online lending | 620 | 3% | at Rocket Mortgage |
 Guaranteed Rate | online lending | 620 | 3% | Read review |
 Bank of America | face-to-face service | 620 | 3% | Read review |
Chase at Chase | face-to-face service | 620 | 3% | at Chase |
New American Funding at New American | borrowers with bad credit | 620 | 3% | at New American |
 Churchill | borrowers with bad credit | 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 |
SunTrust | first-time home buyers | 620 | 3% | Read review |
Reali Loans at Reali Loans | refinancing | 620 | 5% | at Reali Loans |
BB&T | refinancing | 620 | 3% | Read review |
Rocket Mortgage at Rocket Mortgage | online lending | 620 | 3% | at Rocket Mortgage |
Guaranteed Rate | online lending | 620 | 3% | Read review |
Bank of America | face-to-face service | 620 | 3% | Read review |
Chase at Chase | face-to-face service | 620 | 3% | at Chase |
New American Funding at New American | borrowers with bad credit | 620 | 3% | at New American |
Churchill | borrowers with bad credit | 620 | 3% | Read review |
Local Florida mortgage lenders
Although NerdWallet hasn't reviewed these lenders yet, they may be worth considering if you prefer a Florida-based mortgage provider.
FBC Mortgage
- Online application and mobile app
- Offers FHA, VA and USDA loans, as well as construction, jumbo and reverse mortgages
- Has an online library of homebuying guides and a mortgage glossary
Eagle Home Mortgage
- Online application and mobile app
- Offers FHA, VA and USDA mortgages, as well as renovation, reverse and jumbo loans
- Multiple refinance options
- In-house down payment assistance program
The Mortgage Firm
- Full online application
- Automatic loan status updates
- Website offers educational resources, including a mortgage glossary and checklist
Florida Community Bank
- Mortgage pre-qualification available online
- Offers construction-to-permanent loans, executive/doctor mortgages and foreign national loans
- Program for low- to moderate-income borrowers offers home loans with no private mortgage insurance
Best Florida mortgage lenders by city
We took a closer look at mortgage lenders in major Florida cities. See our top picks in your area.
More from NerdWallet
Last updated on July 2, 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 Florida Mortgage Lenders of 2019
- Quicken Loans: Best for first-time home buyers
- SunTrust: Best for first-time home buyers
- Reali Loans: Best for refinancing
- BB&T: Best for refinancing
- Rocket Mortgage: Best for online lending
- Guaranteed Rate: Best for online lending
- Bank of America: Best for face-to-face service
- Chase: Best for face-to-face service
- New American Funding: Best for borrowers with bad credit
- Churchill: Best for borrowers with bad credit
