Best of
Best NCHFA Mortgage Lenders of 2019
NerdWalletJuly 2, 2019
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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.
National / Regional
National
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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-amount loans.
Min. Credit Score
620
Min. Down Payment
3%
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.
at New American
at New American
Min. Credit Score
620
Min. Down Payment
3%
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 seeks 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.
Cons
- Services not available in all 50 states.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for help with closing costs: PrimeLending's proprietary program, NeighborhoodEdge, helps qualified low- to moderate-income borrowers with up to $2,000 in closing cost credits (certain restrictions are based on income and location).
Pros
- Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
- Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
- Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
- Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
- NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
- “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.
Cons
- No live chat online.
- No online mortgage rate quotes.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Participates in some 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.
State Employees' Credit Union
3.0
NerdWallet ratingNational / Regional
Regional
Min. Down Payment
0%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
550
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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."
Summary of Best NCHFA Mortgage Lenders of 2019
| Lender | Best For | National/Regional | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Fairway | digital experience | National | 3% | Read review |
 Guild Mortgage | digital experience | Regional | 3% | Read review |
 SunTrust | Spanish speakers | National | 3% | Read review |
New American Funding at New American | Spanish speakers | National | 3% | at New American |
 PrimeLending | veterans | National | 3% | Read review |
 Caliber | veterans | National | 3% | Read review |
State Employees' Credit Union NerdWallet rating | customer service | Regional | 0% | |
 BB&T | customer service | Regional | 3% | Read review |
 HomeBridge | a nonbank experience | National | 3% | Read review |
 Churchill | a nonbank experience | N/A | 3% | Read review |
| Lender | Best For | National/Regional | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Fairway | digital experience | National | 3% | Read review |
Guild Mortgage | digital experience | Regional | 3% | Read review |
SunTrust | Spanish speakers | National | 3% | Read review |
New American Funding at New American | Spanish speakers | National | 3% | at New American |
PrimeLending | veterans | National | 3% | Read review |
Caliber | veterans | National | 3% | Read review |
State Employees' Credit Union NerdWallet rating | customer service | Regional | 0% | |
BB&T | customer service | Regional | 3% | Read review |
HomeBridge | a nonbank experience | National | 3% | Read review |
Churchill | a nonbank experience | N/A | 3% | Read review |
Last updated on July 2, 2019
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 2019
- Fairway: Best for digital experience
- Guild Mortgage: Best for digital experience
- SunTrust: Best for Spanish speakers
- : Best for Spanish speakers
- PrimeLending: Best for veterans
- Caliber: Best for veterans
- State Employees' Credit Union: Best for customer service
- BB&T: Best for customer service
- HomeBridge: Best for a nonbank experience
- Churchill: Best for a nonbank experience
