10 Best NCHFA Mortgage Lenders of 2019

Why we like it

Pros

• A robust suite of loan products.

• Licensed in all 50 states.

• Close in as little as 10 days using the Fairway app.

Cons

• Limited branch locations.

• Mortgage rates not posted on website.

Why we like it

Pros

• Works with loan programs offered by state and local housing agencies.

• Specializes in mortgages for first-time home buyers.

• Almost half of its loans are low-down-payment government mortgages.

• Considers alternative credit, such as history of payments on rent and utilities.

Cons

• With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.

• Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.

Why we like it

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.

Why we like it

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.

Why we like it

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

Pros

• Participates in some state down payment assistance programs.

• Offers educational resources for military borrowers.

• Provides digital tools for a streamlined application process.

Cons

• No mortgage rates displayed online.

• Must work with a loan officer for pre-qualification and preapproval.

Why we like it

Pros

• Loans with less than a 20% down payment do not require mortgage insurance.

• First-time home buyers may borrow up to $400,000 with no down payment required.

• No fees for applications or credit reports.

• Some buyers may qualify for up to $5,000 toward closing costs.

Cons

• Does not offer 30-year fixed-rate mortgages.

• Loans limited to members on properties in Georgia, North Carolina, South Carolina, Tennessee and Virginia.

Why we like it

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.

Why we like it

Pros

• A wide variety of loan types.

• Low credit score requirements for government-backed loans.

• A wealth of educational material on its website.

• Licensed in all 50 states.

Cons

• Mortgage application can't be tracked online.

• Charges origination fees on some loans.

• Limited branch locations.

Why we like it

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."