Best Mortgage Lenders of January 2025
Last updated on January 2, 2025
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Assistant Assigning EditorSome or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners and here's how we make money.
Before buying a home or tapping equity, shop around to find some of the best mortgage lenders for your circumstances.
With a financial decision this big, it makes sense to research the best mortgage lenders by shopping for at least three offers.
Compare mortgage rates and other loan elements such as fees, terms, time to close, the availability of online application and loan tracking, and customer service offerings. Taking the time to make an informed decision can save you thousands of dollars over the life of your loan.
To help you choose among mortgage lenders, NerdWallet’s editorial team has picked some of the best in a variety of categories to help you find the home loan that's right for you.
Here are more of our picks for best mortgage lenders.
For borrowers looking for jumbo loans:
For borrowers who want to refinance:
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Best Mortgage Lenders of January 2025
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 Rocket Mortgage, LLC: NMLS#3030 Top 3 most visited 🏆 Learn more at Rocket Mortgage, LLC | 620 | 1% | Top 3 most visited 🏆 Learn more at Rocket Mortgage, LLC | |
620 | 3% | |||
5.0 /5Home loans overall Best for first-time home buyers, FHA loans, home equity loans and borrowers with low credit | 620 | 3% | ||
620 | 3% | Learn more at First Federal Bank | ||
 Bethpage Federal Credit Union: NMLS#449104 Learn more at Bethpage Federal Credit Union | 670 | N/A | Learn more at Bethpage Federal Credit Union | |
620 | 0% | Learn more at Veterans United | ||
620 | 3% | Learn more at Northpointe | ||
 Pennymac: NMLS#35953 Compare More Lenders on NerdWallet | 580 | 3.5% | Compare More Lenders on NerdWallet | |
 PenFed: NMLS#401822 Compare More Lenders on NerdWallet | 620 | 0% | Compare More Lenders on NerdWallet | |
 Network Capital: NMLS#11712 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Navy Federal: NMLS#399807 Compare More Lenders on NerdWallet | N/A | 0% | Compare More Lenders on NerdWallet | |
 U.S. Bank: NMLS#402761 Compare More Lenders on NerdWallet | 620 | 5% | Compare More Lenders on NerdWallet | |
 Flagstar: NMLS#417490 Compare More Lenders on NerdWallet | N/A | 5% | Compare More Lenders on NerdWallet | |
 PNC Bank: NMLS#446303 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Better: NMLS#330511 Compare More Lenders on NerdWallet | 680 | N/A | Compare More Lenders on NerdWallet | |
 Discover Home Loans: NMLS#684042 Compare More Lenders on NerdWallet | 680 | N/A | Compare More Lenders on NerdWallet | |
 Truist: NMLS#399803 Compare More Lenders on NerdWallet | 660 | N/A | Compare More Lenders on NerdWallet | |
 Wells Fargo: NMLS#399801 Compare More Lenders on NerdWallet | 640 | 3.5% | Compare More Lenders on NerdWallet | |
 State Employees' Credit Union: NMLS#430055 Compare More Lenders on NerdWallet | N/A | 0% | Compare More Lenders on NerdWallet | |
 Guild Mortgage: NMLS#3274 Compare More Lenders on NerdWallet | 680 | N/A | Compare More Lenders on NerdWallet |
Explore all of our lender picks by category
Learn more
at Rocket Mortgage, LLC
Rocket Mortgage, LLC: NMLS#3030
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
1%
Why We Like ItRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.
Pros
- Reported average time to close is 15 days faster than industry average.
- FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
- Borrowers can apply via mobile app.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- No construction or renovation loans.
- Physical branches are only available in Detroit, Cleveland, and Phoenix.
Learn more
at NBKC
Why We Like ItNBKC has a user-friendly website and low average rates, but the mobile app is not aimed at mortgage borrowers and browsing customized mortgage rates requires supplying your name and contact information.
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Learn more
at Rate
Why We Like ItRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.
Pros
- Fully underwritten mortgage approval in as little as one day for qualified borrowers.
- Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
- Advertises a HELOC that can be funded in as few as five business days.
Cons
- Origination fees are on the high side, according to the latest federal data.
- HELOC requires immediate, full withdrawal of funds.
Learn more
at First Federal Bank
First Federal Bank: NMLS#408902
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItFirst Federal Bank Mortgage Lenders stands out for its focus on government loan lending, and will likely appeal to FHA, VA and other niche loan borrowers.
Pros
- Over 40% of all loans last year were FHA, VA or USDA loans.
- Average mortgage rates are on the lower side, according to the latest federal data.
- Offers 15-, 20-, 25-, and 30-year repayment terms, which is unusually flexible.
Cons
- No dedicated mobile app for mortgage borrowers.
- Some loans (including home equity products) are geographically limited.
Learn more
at Bethpage Federal Credit Union
Bethpage Federal Credit Union: NMLS#449104
4.5
HELOCs
NerdWallet ratingNational / regional
National
Max LTV
85%
Min. credit score
670
Why We Like ItBethpage HELOC borrowers don’t pay closing costs (as long as the line is open for more than three years) and can get an introductory rate below the prime rate.
Pros
- No closing costs
- Easy-to-join credit union.
- Fixed introductory rate is below the prime rate.
Cons
- Must pay back closing costs if the line is open for three years or less.
Learn more
at Veterans United
Why We Like ItVeterans United is the largest VA loan originator in the country by far, according to the latest federal data.
Pros
- Specializes in working with military borrowers.
- Offers VA refinancing.
- Sample interest rates are posted online.
Cons
- Interest rates are on the higher end compared to other VA lenders.
- Does not offer VA renovation loans.
Learn more
at Northpointe
Northpointe: NMLS#447490
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItIn addition to standard options like conventional and government-backed loans, including FHA loans, Northpointe Bank’s mortgage portfolio includes rarer offerings like doctor loans, condominium loans, investment property loans and loans for borrowers with credit challenges.
Pros
- Closing may be available within 15 business days.
- Offers loans and programs aimed at making homeownership more accessible.
- Offers mortgages for investment properties, including jumbo loans.
Cons
- Average mortgage origination fees are on the high side, according to the latest data.
- Bank’s mobile app isn’t useful for mortgage borrowers.
Compare More Lenders
on NerdWallet
Why We Like ItPennymac, known for its government loans, stands out for a refreshingly transparent digital experience. Competitive perks and cash back ease the cost of borrowing, too.
Pros
- Easy to personalize a quote and apply online.
- Can lock in a rate before you’re under contract, earlier than most lenders.
- Perks include a 1% interest rate buydown and “refinance later” cash bonus.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- Online chat is available only in the logged-in experience.
- No renovation loans.
Compare More Lenders
on NerdWallet
Why We Like ItPenFed offers VA refinancing and offers low interest rates for VA loans.
Pros
- Offers VA refinancing.
- Interest rates are low compared to other VA lenders.
Cons
- Does not offer VA renovation loans.
- Customer service score is on the lower end compared to other VA lenders.
Compare More Lenders
on NerdWallet
Network Capital: NMLS#11712
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItNetwork Capital stands out for its wide range of mortgage offerings, including niche products like physician loans, non-QM loans, ITIN loans and mortgages for manufactured homes.
Pros
- Reported average time to close is 20 days, far below the industry average.
- Products like non-QM loans and ITIN loans make borrowing more accessible.
- HELOCs offer long draw terms, up to 30 years.
Cons
- The lender’s website offers limited loan details.
- HELOCs have a minimum loan amount of $50,000.
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on NerdWallet
Why We Like ItNavy Federal Credit Union stands out for having exceptionally low VA interest rates and fees.
Pros
- Best-scoring VA lender for interest rates and fees.
- Offers VA refinancing.
- Specializes in working with military borrowers.
Cons
- Does not offer VA renovation loans.
Compare More Lenders
on NerdWallet
Why We Like ItU.S. Bank stands out for online convenience and impressive mortgage options, from government-backed loans to boutique mortgages. Home improvement loans and borrower assistance are available.
Pros
- Offers up to $17,500 in down payment and closing cost assistance.
- Wide variety of mortgage types.
- Experienced with construction-to-permanent and renovation loans.
Cons
- Assistance programs limited to select cities and states.
- Online rate tool doesn’t customize by credit score.
Compare More Lenders
on NerdWallet
Why We Like ItFlagstar Bank stands out for its range of accessible loans and programs, including loans with flexible requirements and down payment grant options. Its mortgage operations were acquired by Mr. Cooper in 2024.
Pros
- Conventional loan terms extend to 40 years, which is unusually flexible.
- Offers options for high-balance mortgages.
- Offers specialized mortgages for professionals, such as doctors and lawyers, starting their careers.
- Reported average time to close (20-30 days) is faster than industry standard.
Cons
- The lender’s mobile app is focused on banking, not mortgages.
- Conventional fixed-rate mortgages require a 5% minimum down payment, higher than some competitors.
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on NerdWallet
Why We Like ItPNC Bank has a variety of appealing mortgage options, including jumbo loans, programs for first-time home buyers and home equity lines of credit.
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
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on NerdWallet
Better: NMLS#330511
5.0
Home equity loans
NerdWallet ratingMin. credit score
680
Max LTV
90%
National / regional
National
Why We Like ItBetter home equity loans stand out for having high borrowing limits and no closing costs.
Pros
- Maximum borrowing limit is higher than industry standard.
- No closing costs or application fees.
- Home equity loans are available for second homes.
Cons
- Info about home equity loans is very limited on Better’s website.
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on NerdWallet
Discover Home Loans: NMLS#684042
5.0
Home equity loans
NerdWallet ratingMin. credit score
680
Max LTV
90%
National / regional
National
Why We Like ItFor homeowners looking to borrow at least $35,000, Discover home equity loans offer competitive rates and no closing costs.
Pros
- Maximum borrowing limit is higher than industry standard.
- No closing costs or application fees.
- Repayment terms up to 30 years.
Cons
- Minimum loan amount is $35,000.
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on NerdWallet
Truist: NMLS#399803
5.0
HELOCs
NerdWallet ratingMin. credit score
660
Max LTV
89%
National / regional
National
Why We Like ItTruist is a large HELOC lender, with a generous borrowing limit, the option to fix the rate on all or part of the loan balance, and no origination fees.
Pros