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10 Best NCHFA Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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The North Carolina Housing Finance Agency provides mortgage and assistance programs to would-be home buyers. See our top picks for NCHFA lenders.

Summary of Best NCHFA Mortgage Lenders of 2020

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Fairway Independent Mortgage

Fairway Independent Mortgage

at Fairway

digital experience

620

3%

at Fairway

Guild Mortgage

Guild Mortgage

digital experience

620

3%

Read review
SunTrust

SunTrust

Spanish speakers

620

3%

Read review
New American Funding

New American Funding

Spanish speakers

620

3%

Read review
PrimeLending

PrimeLending

veterans

620

3%

Read review
Caliber

Caliber

veterans

620

3%

Read review
State Employees' Credit Union

State Employees' Credit Union

NerdWallet rating 

customer service

N/A

0%

BB&T

BB&T

customer service

620

3%

Read review
HomeBridge

HomeBridge

a nonbank experience

620

3%

Read review
Churchill

Churchill

a nonbank experience

620

3%

Read review
Logo

at Fairway

Fairway Independent Mortgage: NMLS#2289

Logo

Min. Credit Score

620

Min. Down Payment

3%

at Fairway


Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

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.

Read Full Review

Guild Mortgage: NMLS#3274

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.

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.

Read Full Review

SunTrust: NMLS#2915

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with fair credit or better. SunTrust, now a part of Truist Financial Corp., offers a variety of customer service options.

Pros

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

  • Provides customer service in its physical locations, online, via chat and by phone.

  • Offers wide variety of loan options, including a loan program for licensed medical professionals

Cons

  • Customized rates not available on website without starting an application.

  • Branches limited to mostly the Southeast.

Read Full Review

New American Funding: NMLS#6606

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Min. Credit Score

620

Min. Down Payment

3%

National / Regional

National


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

PrimeLending: NMLS#13649

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Min. Credit Score

620

Min. Down Payment

3%


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.

Read Full Review

Caliber: NMLS#15622

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.

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.

Read Full Review
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State Employees' Credit Union: NMLS#430055

3.0

NerdWallet rating 
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National / Regional

Regional

Min. Down Payment

0%


Why we like it

Ideal for North Carolina government employees with little saved for a down payment and who can afford to repay mortgages in 20 years or less.

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.

BB&T: NMLS#399803

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal 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 mortgage options

  • 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

  • Branches limited mostly to the Southeast.

Read Full Review

HomeBridge: NMLS#6521

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who prefer an online experience. Homebridge offers a variety of home loan options and an online application.

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.

Read Full Review

Churchill: NMLS#1591

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who worry about taking on debt. Churchill advocates "debt-free homeownership" and helps customers achieve that goal. A well-known advocate: financial guru Dave Ramsey.

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."

Read Full Review

Last updated on January 2, 2020

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 NCHFA Mortgage Lenders of 2020