Best of

Best Texas Mortgage Lenders in 2019

NerdWalletJuly 2, 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.

If you’re looking to buy or refinance a home in Texas in 2019, NerdWallet can help you choose from some of the best mortgage lenders in the state.

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.
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
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.
Read full review
Chase

at Chase

Min. Credit Score

620

National / Regional

National

Pros

  • Fixed- and adjustable-rate refinance options.
  • Aims to close all refinance transactions in 60 days or less.
  • Customized rate quotes available online without providing personal info.

Cons

  • Physical locations not available in all states.
  • Charges an origination fee as well as other third-party fees for refinances.
  • You must speak with a mortgage banker to be approved.
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
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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Loan programs to educate and assist first-time home buyers, union members and others.
  • Relocation and employee mortgage programs for many large companies.
  • Accepts down payments as low as 3% on fixed-rate mortgages through its yourFirst Mortgage program.

Cons

  • Government actions and scandals have damaged consumer trust.
Read full review
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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Offers an ITIN qualification path for undocumented immigrant borrowers.
  • Has a digital application process.
  • Offers several mortgage options for low- to moderate-income borrowers.
  • Has a full Spanish-language version of its website and bilingual loan officers.
  • Borrowers can qualify with income from self-employment and other nontraditional sources.

Cons

  • No mortgage rates published online.
  • Doesn't lend in all states.
  • No home equity loans or lines of credit.
Read full review
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.
Read full review

Summary of Best Texas Mortgage Lenders in 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

first-time home buyers + online experience

620

3%

at Rocket Mortgage

PrimeLending

PrimeLending

first-time home buyers

620

3%

Read review
Reali Loans

Reali Loans

at Reali Loans

refinancing

620

5%

at Reali Loans

Chase

Chase

at Chase

refinancing

620

3%

at Chase

Guaranteed Rate

Guaranteed Rate

online experience

620

3%

Read review
Wells Fargo

Wells Fargo

face-to-face service

620

3%

Read review
Bank of America

Bank of America

face-to-face service

620

3%

Read review
Alterra

Alterra

bad credit

620

3%

Read review
Vylla

Vylla

at Vylla

bad credit

620

3%

at Vylla

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

first-time home buyers + online experience

620

3%

at Rocket Mortgage

PrimeLending

PrimeLending

first-time home buyers

620

3%

Read review
Reali Loans

Reali Loans

at Reali Loans

refinancing

620

5%

at Reali Loans

Chase

Chase

at Chase

refinancing

620

3%

at Chase

Guaranteed Rate

Guaranteed Rate

online experience

620

3%

Read review
Wells Fargo

Wells Fargo

face-to-face service

620

3%

Read review
Bank of America

Bank of America

face-to-face service

620

3%

Read review
Alterra

Alterra

bad credit

620

3%

Read review
Vylla

Vylla

at Vylla

bad credit

620

3%

at Vylla

Best Texas mortgage lenders by city

We dug deeper to find lenders in major Texas cities. See our picks for best mortgage lenders 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 Texas Mortgage Lenders in 2019