Best of

10 Best Florida Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

NerdWallet can help you choose the best Florida mortgage lender for you, from all-digital online specialists to major banks for in-person service.

If you're looking to buy or refinance a home in Florida, you have many lenders to choose from. And no matter whether your homeownership dream in the Sunshine State is a beachfront condo or a suburban mid-century modern near great schools, picking the best mortgage lender is a key part of finding the right mortgage for you.

NerdWallet has researched some of the top lenders in Florida and picked the best options for those with particular borrowing needs.

Though they serve borrowers across the country, the national and regional lenders displayed in the table, which have been reviewed by NerdWallet, are some of the best mortgage providers in Florida.

Summary of Best Florida Mortgage Lenders of 2020

Logo

at Rocket Mortgage

Rocket Mortgage by Quicken Loans: NMLS#3030

Logo

Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage


Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

Read Full Review
Logo

at New American

New American Funding: NMLS#6606

Logo

Min. Credit Score

700

Min. Down Payment

3%

National / Regional

National

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

Good for: borrowers looking for just about all of 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 many working Americans.

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

  • Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.

Cons

  • Quicken Loans doesn't offer home equity loans or HELOCs.

  • Quicken's lender fees can be stout and they don't offset those fees with particularly low mortgage rates.

Read Full Review
Logo

at Reali Loans

Reali Loans: NMLS#991397

Logo

Min. Credit Score

620

National / Regional

Regional

at Reali Loans


Why we like it

Good for: borrowers looking for an online mortgage application experience.

Pros

  • Offers a completely online application process.

  • Provides customized rate quotes online.

Cons

  • No FHA, VA or USDA refinance products.

  • Available only in a dozen states.

Read Full Review
Logo

at Guaranteed Rate

Guaranteed Rate: NMLS#2611

Logo

Min. Credit Score

620

Min. Down Payment

3%

at Guaranteed Rate


Why we like it

Good for borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

Read Full Review

SunTrust: NMLS#2915

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.

Pros

  • Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.

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

  • Sample rates and fees are easy to find on the website.

Cons

  • Customized rates aren't available online without starting an application.

  • Branches are limited mostly to the Southeast.

Read Full Review

BB&T: NMLS#399803

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for borrowers in the Southeast who want online tools with the option of face-to-face service. BB&T, now part of Truist Financial Corp., offers a full menu of home loans.

Pros

  • Offers a variety of low-down-payment mortgages as well as construction mortgages.

  • Website lets users estimate rates online by loan and property type, amount and location.

  • Has an online mortgage application.

Cons

  • Branches limited mostly to the Southeast region.

  • Does not offer FHA loans.

Read Full Review

Bank of America: NMLS#399802

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

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.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review

Chase: NMLS#399798

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for borrowers who want to choose among a wide array of mortgage types from a bank with offices in more than half the states that charges below-average origination fees.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

Read Full Review

Churchill: NMLS#1591

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: borrowers who worry about taking on debt. Churchill advocates “debt-free homeownership” and helps customers try to achieve that goal.

Pros

  • Offers loan plans for borrowers without credit scores.

  • Annual mortgage reviews help borrowers stay on track toward the goal of living debt-free.

  • Offers digital conveniences such as document uploads and e-signature.

Cons

  • Doesn't provide information online about rates and fees.

  • Doesn't offer home equity loans or HELOCs.

  • You can’t apply online without first speaking to a loan specialist.

Read Full 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.

  • 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

  • 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

  • Full online application

  • Automatic loan status updates

  • Website offers educational resources, including a mortgage glossary and checklist

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 January 2, 2020

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. 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 2020