9 Best Texas Mortgage Lenders in 2019

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.

Why we like it

Ideal for borrowers with past credit issues and those looking for down payment and closing cost assistance programs.

Pros

• Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.

• Offers a "float-down" interest rate lock.

• Offers a proprietary closing-cost assistance program.

Cons

• No online mortgage rates.

• Charges an origination fee.

• Doesn't offer home equity products.

Why we like it

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.

Why we like it

Ideal for refinancing any way you want: in person, online or over the phone. With branch locations in 22 states, Chase has a strong face-to-face presence, but refinancers can apply through other channels, too.

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.

Why we like it

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.

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.

Why we like it

Ideal for borrowers looking for a national lender with a complete selection of mortgage products for home buyers in all financial stages.

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.

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.

• 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.

Why we like it

Ideal for Latino and other minority borrowers, millennials, foreign nationals, as well as those seeking a full array of purchase and refinance loans, including jumbo mortgages.

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.

Why we like it

Ideal for first-time home buyers or credit-challenged borrowers who may have trouble qualifying for a mortgage.

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.