Best NCHFA Mortgage Lenders of 2019

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.

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.

Why we like it

Ideal for first-time home buyers, including those with little money saved for a down payment. SunTrust's online portal offers information and tools in English and in Spanish.

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

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.

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 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.

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.

Why we like it

Ideal for borrowers in the Southeast who want face-to-face service at one of more than 2,000 financial centers.

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

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.

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."